BKK_BUS_June20

June 2020
BANGKOK
TM
FREE
COPY
BUSINESS
INVESTOR SENTIMENT SHIFTING
FOR BANGKOK HOTELS
Cover Story Overleaf
INSIDE THIS ISSUE:
- Robinson in Expansion Mode
- MQDC Believes in Thai Economy, Continuing All Projects and Preparing
to Launch “THE FORESTIAS” Megaproject
- Thailand Business News
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Cover Story
Bangkok’s hotel investment
landscape
has always been interesting,
with the advantage
that the sector
typically offers higher
yields than other real
estate ventures, yet
has the added risks
of elevated running
costs and increased
competition.
According to commentary
by JLL Hotels
& Hospitality,
2019 saw a very
robust year of global
hotel investment
activity. The company’s
“Hotel Investment
Outlook” noted
that transaction
volumes last year
hit 66 billion US
dollars worldwide
based on are silient
travel sector. This
level of investment
is almost double of
that seen in 2011,
though down from a
92 billion US dollar
peak in 2015.
In Asia-Pacific,
transaction volumes
in 2019 were up by
40 percent over the
previous year, and
totaled more than
12 billion US dollars.
As for the Bangkok
and wider Thailand
markets, the Executive
Vice President for Investment
Sales at JLL
Hotels and Hospitality
Group Asia, Chakkrit
Chakrabandhu Na
Ayudhya, was quoted
as saying, “Both international
and domestic
investors continued
to show keen interest
in acquiring hotels in
Thailand, particularly
Bangkok, Phuket,
Samui and Chiang Mai.
However, a limited
BUSINESS SUPPLEMENT
INVESTOR SENTIMENT SHIFTING
FOR BANGKOK HOTELS
number of investment
grade hotel assets
were put up for sale
last year after two record
years in 2017 and
2018.”
One deal that was
completed last year
was the sale of the 268
room Four Points by
Sheraton Bangkok hotel
for 2.25 Billion baht.
Mr. Chakkrit was
further quoted as saying,
“There were a few
notable hotel deals
where the sale and purchase
agreements were
signed last year but
the ownership is slated
to transfer in 2020,”
adding “Some of these
deals are significant in
value and will give a
considerable boost to
the hotel investment
volume in 2020.”
Yet for new deals,
there may be a little
caution in regard to the
Bangkok market, since
many hotels, even major
properties, remain
closed due to Covid-19.
Even after they re-open,
international travellers
will likely return only
in modest numbers, at
least to begin with.
During the remainder
of this year, international
investment vehicles
will likely drive
the market, with capital
from general funds,
which invest in a host
of different sectors, still
accounting for nearly
three quarters of all
transactions in the hotel
sector.
First-time hotel buyers
also seem keen
to take advantage of
a possible buying opportunity
where yields
could be significantly
more attractive than
fixed income yields,
even if the returns will
be some time in the future.
Another trend that
was evidentwas a move
towards investment in
boutique hotels. Smaller
properties with hightech
offerings and carefully
thought-out home
comforts have been
able to bridge the gap
between larger properties
and the offerings
that can be found at
Airbnb. The total number
of rooms that can
be found in smaller lifestyle
hotels has risen
more than 100 per cent
since 2015.
High Tower Co., Ltd. Tel: 038 411 009
For all your advertising enquiries - Tel: 0846 77 43 60

BUSINESS SUPPLEMENT
ROBINSON IN
EXPANSION
MODE
The company that owns the
Robinson department stores,
Central Retail Corporation, has
announced that it is expanding
its store footprint, with an eye
especially on the Eastern Economic
Corridor (EEC). The SET
Listed company is not too concerned
by current issues including
the Covid situation and is on
schedule to open a new store
in Chonburi. It is taking a longterm
approach to its expansion
plans.
The President of Central
Retail Corporation, Wuttikiat
Techamongklapiwat, was quoted
as saying, "While the retail
market is faced with many difficulties,
be they the economic
slowdown, widespread drought,
PM2.5 dust or the coronavirus
pandemic, we are committed to
investing over the next 20-30
years.”
The new branch will be set
into the 35,000 square meter
shopping center at Bowin Industrial
Park. It will be the 51st
branch of Robinson in Thailand
and the fourth in Chonburi province
alongside three existing
branches, which are set in Central
Plaza Chonburi, Pacific Park
Shopping Centre Sri Racha and
Amata Nakorn Industrial estate
Wuttikiat Techamongklapiwat
was also quoted as saying,
"We started opening department
stores in the East over the past
20 years and have a total of
eight stores there. We have never
seen any disappointment with
the performance in this region,”
adding, "There is still growth
potential in eastern Thailand
because the ratio of people and
retail space available in this region
remains relatively low compared
with other regions.
The soon to be opened Robinson
lifestyle branch at Bowin
is quite a large affair, and will be
instrumental in increasing Robinson's
retail space to 114,100
square meters in the eastern region,
a rise of over 40 per cent.
Yet sales in the area are robust
and so the additional floor
space will be considered a good
investment. This is in part due
to the fact that per capita income
in the region is high because
of the large number of
industrial parks in the area. The
Bowin area itself is home to
no less than 8 major industrial
complexes.
Wuttikiat Techamongklapiwat
was further quoted as saying,
"For Chon Buri, which is an
integral part of the government's
flagship Eastern Economic Corridor,
we've seen healthy sales
in our branches there, trailing
only the branches in Greater
Bangkok."
Although there was a drop
of up to 20 per cent in sales in
some Bangkok stores due to
the Coronavirus, other stores in
provinces such as Trang, Kanchanaburi
and Suphan Buri actually
saw sales rise.
The Bowin area is home to
around 180,000 people and so
demand is likely to be strong in
a place where there is less competition.
Email: ben.hightowerltd@gmail.com
www.Thailand-Business-Supplement.com

BUSINESS SUPPLEMENT
AROUND THE ASIAN REGION
JAPANESE AMUSEMENT
PARKS PREPARE TO
REOPEN
With a fall in new coronavirus
cases in Japan, funfairs and amusement
parks are getting ready to reopen.
However there are plenty of
caveats for patrons to be aware
of.
One of the most curious is to
avoid screaming on roller coasters
as this may increase the likelihood
of droplets in the air. Of course this
is quite a difficult thing to ask of
thrill-seekers, since screaming on
roller coasters is usually completely
involuntary.
As well, ghostly figures in haunted
houses will need to keep their
distance under new guidelines so
as to adhere to social distancing,
and queues for rides will also need
to be carefully controlled to ensure
there is plenty of space between
each person.
Staff that may be dressed up as
cartoon characters or super heroes
will need to ensure they don’t attract
a crowd, and photo opportunities
will be without close contact.
Still, there are plenty of customers
who are happy to put up with
the new norm, and park operators
in Japan are expecting a surge of
patrons eager to take advantage of
the new openings and of course the
summer weather.
MORE PROTESTS IN HONG
KONG OVER NEW LAWS
Hong Kong is bracing for more
new protests as new national security
laws are being passed that give
greater control to the mainland.
Many see this as reducing the citystate’s
freedoms, which were guaranteed
at the time of the handover
in 1997.
As a result of the new legislation,
The U.S. took steps to revoke
Hong Kong’s special status. The
tensions come at a time when the
U.S. and China are at odds over
various other matters including the
origins of the coronavirus, claims
over islands in the South China sea
and U.S. stock market restrictions
to Chinese firms.
Yet in a recent news conference,
President Trump stopped short of
announcing either new sanctions or
any modifications to the phase one
trade deal that was struck late last
year.
NISSAN REPORTS
LARGEST LOSS IN TWO
DECADES
Japanese automaker Nissan
Motor Company posted a 671 billion
yen or 6.2 billion U.S. dollar
loss for the most recent fiscal year.
It was the company’s first loss in a
decade, and its biggest loss in the
last 20 years.
As a result, Nissan plans to reduce
its output by 20 percent over
the next four years and to reduce
fixed expenses by around 300 billion
Yen. It will cut the number of
models it produces from 69 to 55, in
order to consolidate its manufacturing
footprint.
Naoki Fujiwara, chief fund manager
at Shinkin Asset Management
Co., was quoted as saying, “The
numbers might leave a negative impression,
but they are taking drastic
steps and that’s worth noting,”
adding, “In the post-corona era, you
won’t be able to survive unless you
improve your efficiency.”
On a positive note, Nissan’s China
sales grew a modest 1.1 per cent
in April as the country became one
of the first to shrug off the pandemic.
Chief executive officer, Makoto
Uchida, was quoted as saying, “I will
do everything I can to return Nissan
to a growth path.”
JUST THE STATISTICS
While bar charts, line graphs
and simple numbers are hardly
capable of providing the defining
answer to many economic, social
and political questions, they are
certainly a good way of obtaining a
general overview of any particular
subject.
Each month the Business Supplement
will look into a brace of
statistical information and provide
readers with what we consider to
be the central elements of these
figures.
PANDEMIC
PREPAREDNESS
How well or otherwise a
country is prepared for a
pandemic like Covid-19 is
rated by an index that has
been prepared by the John
Hopkins Bloomberg School
of Public Health in the USA.
You may have heard of the
John Hopkins center as it
has been instrumental in
counting Covid cases in the
United States as well as
other countries.
Its GHS Index scores
195 countries based on
their pandemic preparedness
which includes aspects
such health security
capabilities and response
to infectious diseases.
A score from 0 to 100 is
prepared using these metrics.
The USA scored top
worldwide with a rating of
83.5. The UK was in second
place with 77.9, although it
was evident that the NHS
was potentially under stress
at the peak, but much less
so than other countries.
The Netherlands, Australia
and Canada took 3rd 4th
and 5th places with scores
of 75.6, 75.5 and 75.3 respectively.
Thailand did very well
and came in at 6th place
worldwide with a score of
73.2, the only Asian country
to score in the top ten. This
compares well with Malaysia
in 18th place worldwide,
Japan in 21st place and
Singapore in 24th position.
China was in 51st place with
a score 48.2, but even this
was above the average for
all countries which stood at
40.2.
Worryingly, even amongst
all of the high-income countries
the average score was
only 51.9, suggesting a lot
more needs to be done in
the future to prepare for
what can be such a sudden
onslaught.
ASIAN STOCK
MARKETS
TUMBLED DURING
THE COVID CRISIS.
Asia was not spared the stock
market declines that were seen in
the US and the rest of the world in
February and March due to the onset
of the Covid crisis.
The Philippines was the worst hit
in the region with a 40.84 per cent
decline from Jan 1st to March 19th
2020. Indonesia was the second
worst hit with a decline of 35 per cent
over the same period. Thailand took
third place in Asia with a decline of
34.15 per cent.
South Korea’s Kospi stock market
shed 33.67 per cent whilst India’s
Sensex slid 31.46 per cent. Japan,
Singapore and Malaysia were not
far behind with declines of 30.03 per
cent, 28.21 per cent and 25.53 per
cent respectively.
Whilst many markets have
bounced back somewhat, it will be
interesting to see how sustainable
any comeback may be, with the economic
effects of the crisis likely to be
anything but short-lived.
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For all your advertising enquiries - Tel: 0846 77 43 60

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BUSINESS SUPPLEMENT
“Bits n Bytes”
STEVE DICKENS
The piece is just wide
enough that it can also cover
the gaps between the middle
seat and the window and aisle
seats. This way, if a person
sitting behind you coughs,
you don't have to worry as
much.
Flying during the middle of
a pandemic probably isn't a
great idea. But eventually, as
they lift stay-at-home restrictions
and the world returns to
somewhat normal travel patterns,
there must be a way to
facilitate airline passengers.
Leaving the middle seat
empty seems to be a good option,
and a typical 737-700,
for instance, could still hold
99 passengers if the middle
seats are eliminated (or at
least kept empty).
French aeronautical engineer
Florian Barjot has run
with that idea, coming up with
"PlanBay," which sacrifices
the middle seat for a pane of
plexiglas. Since there's only
about 3.5 feet of space from
the window seat to the middle
aisles on most commercial
aircraft, this addition could
make social distancing much
more likely.
"Modern aircrafts have efficient
air systems that prevent
the contagion from one
person to the entire passenger
population, but the
health authorities recommend
one-meter distancing, which
is hardly achievable in economy
class, even with an empty
middle seat," Barjot writes on
the PlanBay website. "In order
to improve the distancing,
I imagined this removable kit
for an unused seat, that can
be used temporarily for the
time of an epidemic outbreak
and the recovery phase."
Barjot's concept just may
work, because it doesn't seek
to rehaul the entire interior of
a jet—instead, it proposes a
removable, temporary solution.
Barjot also claims the
device doesn't cost much,
which is ideal for the airline
industry, as it's currently under
massive financial strain.
To start, because the rows
of seats on an airplane aren't
six feet apart—to which
anyone with long legs can attest—PlayBay
uses a plastic
panel above each row to extend
the height of the seats.
The panel extends down the
backside of the middle seat
and is strapped into place so
it hugs the upright tray.
From the front angle, a
plastic partition runs right
down the middle of the center
seat to separate the person
sitting in the window seat
from the person in the aisle
seat. This is optimal because
otherwise, to keep people six
feet apart, it would be necessary
to remove some components.
In another design,
for example, some seats are
rear-facing to create more
space. In Barjot's version,
there's no need for that.
While Barjot has applied
for a patent, it's still not clear
whether his idea will soar. In a
statement on post-COVID-19
air travel, the International
Air Transport Association
(IATA)—the industry's trade
association—directly heeds
against such designs.
The IATA "supports the
wearing of face coverings for
passengers and masks for
crew while on board aircraft
as a critical part of a layered
approach to biosecurity to
be implemented temporarily
when people return to traveling
by air," according to
the statement, but "does not
support mandating social distancing
measures that would
leave 'middle seats' empty."
Part of the concern is that
leaving middle seats empty—
in turn, decimating at least
one-third of potential profit—will
jack up the price of
a ticket. That's not a risk the
IATA wants airlines to take in
the midst of a financial crisis,
where travelers are already
weary.
One thing is for sure
though/ Flying will never be
the same again!
Steve Dickens
has worked in managerial and consultancy
roles for over 40 years with international technology
companies, 15 of which have been
here in Thailand. He can be contacted at
stevedickens@hotmail.com
High Tower Co., Ltd. Tel: 038 411 009
For all your advertising enquiries - Tel: 0846 77 43 60

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BUSINESS SUPPLEMENT
FOREIGN CURRENCY UPDATE
The U.S. Dollar has maintained
its status as a safe haven
currency even in spite of the
fact that U.S. interest rates have
dropped to zero and unlimited
QE is the order of the day. The
DXY Dollar index, an index that
measures the U.S. Dollar’s value
against a basket of major currencies,
rose from 99.0 to 100.5 before
settling at 98.9. Levels that
remain around the 100 mark indicate
strength. Against the Thai
Baht the rate fell from 32.51 to
31.84 indicating that the Thai
Baht itself has strengthened over
the last month by around two per
cent. This could be in part due
to the low number of new corona
cases in the Kingdom that may
bode well for future economic activity.
The British Pound dropped
from 1.2596 all the way down
to 1.2107 against the U.S. Dollar,
before recovering slightly to
1.2268. A weak UK economy is
expected due to the arguably late
response to the Corona outbreak
and this may have weighed on
the pound. Also, something that
is all too easy to forget, is that
the menace of Brexit uncertainty
still hangs over the currency.
Negotiations regarding the end
of the 11-month transition period
(due at the end of Dec 2020)
have stalled with no real progress
being made on significant
matters. At the same time the
UK side is adamant that it will
not extend the date even though
a great deal of time may have
been lost to the Covid outbreak.
The 1.2500 level against the U.S.
Dollar will be a key gauge
of the outlook for the Pound
going forward. Against the Thai
baht the Pound also fell in a
constant fashion from 40.91 to
38.80 before recovering slightly
to 39.23
The Japanese Yen has not
had a look in as regards its traditional
status as a safe haven
currency with the U.S. Dollar
taking the crown for the time
being. The U.S. Dollar vs. Japanese
Yen cross rate moved from
106.40 to 107.71, indicating that
the Yen weakened by just over 1
per cent.
The JPYTHB cross rate fell
quite dramatically from 0.3033
to 0.2932 as a result of the Yen’s
weakness combined with Thai
Baht strength.
The Russian Ruble strengthened
from 74.33 to 70.92 against
the US Dollar, capping another
fairly volatile month. Once again
the more than 5 per cent move
was mainly with the Ruble rather
than the Dollar. Against the Thai
Baht the Ruble strength was evident
as it moved from 0.440 to
0.450.
The Euro / U.S. Dollar exchange
rate was choppy, moving
from 1.1010 to 1.0783 before
returning to the 1.1000 handle
again. Currency traders are undoubtedly
watching out for news
of ECB and other European stimulus
packages. Against the Thai
Baht, the rate fell from 35.73 to
35.02, a move of nearly two per
cent.
FOREIGN CURRENCY UPDATE
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BUSINESS SUPPLEMENT
FOR SALE
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• Land Area: 105 square wah
• All rooms fully furnished.
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All relevant documents – title deeds (chanote),
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FOR FULL DETAILS ON THIS
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E-MAIL : Hightowerpattaya@gmail.com
(*This property is for sale exclusively through the Business Supplement)
Email: ben.hightowerltd@gmail.com
www.Thailand-Business-Supplement.com

BUSINESS SUPPLEMENT
THAI RESTAURANT
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BUSINESS SUPPLEMENT
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FITNESS & YOU
- THE KEY TO A BETTER LIFE -
WHY DO I WANT TO
GET FIT…..
Recently I have had many
people come and buy some of
our good condition used commercial
fitness equipment. The
first question I usually ask is
“Why do you want to buy fitness
equipment?”
I have found that most people
generally want to lose weight
or feel better. For me this is the
key question you should ask
yourself before spending money
on a gym membership or buying
any type of equipment for your
home.
Although weight loss is a
major target for most people,
some other important factors
should also be considered.
1. You might want to sleep
better.
The 2013 annual Sleep In
America poll from the National
Sleep Foundation found that
people who self-identify as regular,
vigorous exercisers got
better sleep than their sedentary
peers. Of the vigorous exercisers,
just 17 percent said
they got fairly or very bad sleep,
while nearly half of the non-exercisers
reported the same
proving that physical tiredness
is a key to sleeping well.
2. Keep your brain sharp.
In the short-term, exercise
increases blood flow, including
to the brain, which leaves you
feeling more awake, alert, focused
and productive. But with
a regular fitness routine, you
reap even bigger benefits, including
warding off dementia
and other cognitive decline that
often comes with age. Regular
exercise also fuels the birth of
new brain cells in a section of
the brain called the hippocampus,
which is highly involved in
learning and memory.
BUSINESS SUPPLEMENT
3. Lower your diabetes
risk.
In a 2014 study, women who
sweated it out for 150 minutes
a week and performed 60 minutes
a week of strength training
exercises had a lower risk
of developing type 2 diabetes
than the most inactive women in
the study. Even walking counts:
Earlier research found that people
who walked just 3,500 steps
a day (there are roughly 2,000
steps in a mile) had a lower risk
of developing diabetes than the
people who walked the least in
the study, Reuters reported.
4. Lower your resting heart
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5. Feel bloody great!!!
Even without a clinical diagnosis,
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blood flow to the brain and
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to the Anxiety and Depression
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those around you will also be
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Your target, or goal, is the
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As with everything, set your
goals realistically and don’t
loose sight of them.
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BUSINESS SUPPLEMENT
SUDOKU
These Sudoku puzzles are pitched at a middle level: not too easy,
and not too frustratingly hard, for the average person.
7
1
2
8
6
9 4
3 8
1 6
2 7
3
7 2 8
5
9
3
1 4
9
1
7
9 2
6
5
4
8 1
5
7 6
9
1
2
7
4 9
1
2 3
9 2
6
5 1
2 9
6 3
2
4
5
8
9
3
7
4 8
2
7
5 1
1 4 3
6 7 5
2 9 8
3 6 7
5 2 1
4 8 9
8 1 4
9 5 6
7 3 2
1 7 5
4 2 6
8 9 3
9 6 8
2 1 4
5 3 7
6 4 9
7 5 2
3 8 1
9 5 6
4 8 2
7 1 3
5 2 9
6 4 8
3 7 1
2 9 7
1 3 4
8 6 5
4 6 8
9 7 3
2 5 1
7 3 4
8 9 5
6 1 2
3 8 7
1 4 9
5 2 6
7 8 2
1 9 3
6 5 4
4 1 8
3 7 9
2 6 5
5 3 6
8 2 7
9 4 1
9 3 2
1 5 8
7 4 6
2 1 5
3 6 7
8 9 4
5 2 1
6 8 3
4 7 9
We will publish the solutions in next month’s issue.
CROSSWORD
Last months sudoku answers
TRIVIA Quiz
ACROSS
1/ Arrest (9)
6/ Musical work (5)
8/ Trans World Airways acronym (3)
9/ Prominent (5)
12/ Sport (9)
13/ Pull a caravan (3)
14/ Laconic (5)
DOWN
2/ Surname American poet (3)
3/ Exuberant (9)
4/ Canine (3)
5/ Excerpt (7)
7/ Previously (7)
9/ Sneeze (sound) (5)
11/ Follow, happen after (5)
1. Which group had a UK No 1 in 1984 with ‘You Spin Me Round (Like a
record)?
2. The US Presidential Medal of Freedom, the highest award given to civilians
in wartime, has a design which includes how many stars?
3. In business, what does the acronym MARR mean?
4. According to the National Ocean Service, what percentage of the oceans
have been explored?
1
2 3 4
5. What was the first name of the Italian painter Caravaggio?
6. The Grand Slam in female tennis has been achieved three times, twice in
the open era. Who are the two women who have achieved the feat in the open
era?
7
6
7. In what US state is Kitty Hawk, the place where in 1903 the Wright brothers
successfully flew a heavier-than-air plane?
8. What US TV series had the characters Benjamin Pearce, Frank Burns, and
Henry Blake, among others?
8 9
9 11
9. Who was the official commander of HMS Victory at the battle of Trafalgar
in 1805?
10. The British author Graham Greene died in what decade?
12
1. Dead or Alive 2. 13 3. Minimum Acceptable Rate of Return 4. Five (5) percent
5. Michelangelo 6. Margaret Court & Steffi Graf 7. North Carolina 8. MASH 9. Thomas Hardy
10. 1990s (1991)
Answers:
13 14
CROSSWORD ANSWERS
ACROSS 1/Apprehend 6/ Etude 8/ TWA 9/ Large 12/ Athletics 13/ Tow 14/ Terse
DOWN 2/ Poe 3/ Ebullient 4/ Dog 5/ Extract 7/ Earlier 9/ Achew 11/ Ensue
For information on the BUSINESS SUPPLEMENT Contact High Tower Co., Ltd. Tel: 038 411 009 - 0846 77 43 60
*The Pattaya & Bangkok Business Supplements are published by High Tower Co., Ltd.
Email: ben.hightowerltd@gmail.com
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BUSINESS SUPPLEMENT
MQDC BELIEVES IN THAI ECONOMY,
CONTINUING ALL PROJECTS AND
PREPARING TO LAUNCH “THE FORES-
TIAS” MEGAPROJECT
Mr Visit Malaisirirat, CEO of
Magnolia Quality Development
Corporation Limited (MQDC),
said that MQDC has experienced
rapid growth through its clear
project development strategy,
especially as a pioneer in largescale,
mixed-use projects, which
have met a good response.
MQDC’s strategy of project
development with global partners,
bringing world-class expertise,
has made its projects stand out.
The company has been able to
develop projects with world-class
standards, attracting a lot of customers
both at home and abroad.
All projects have therefore met
their targets, enabling the company
to register strong growth. The
clearest example is ICONSIAM.
MQDC is a partner in this icon of
Thailand on Chao Phraya River.
ICONSIAM includes the high-end
condominiums Magnolias Waterfront
Residences ICONSIAM
and The Residences at Mandarin
Oriental, Bangkok, which is managed
by the Mandarin Oriental
Hotel Group. There is also Magnolias
Ratchadamri Boulevard,
which hosts the exclusive Waldorf
Astoria Bangkok, the first hotel in
Southeast Asia from Hilton’s most
iconic brand.
Another key MQDC milestone
is the launch of THE FORES-
TIAS, which has a project value
of THB125 billion. While residential
developments currently
focus only on value for money
and convenient location, this is
not enough, especially after the
COVID-19 crisis. Quality of life,
health, and happiness of residents
need to be considered because
people are more careful in
their lives. For the first time, an
extensive forest has been made
part of a city project, bringing in
nature too. THE FORESTIAS is
based on MQDC’s philosophy to
focus on projects that benefit society
and enhance quality of life
in line with the concept ‘For All
Well-Being’.
THE FORESTIAS has been
developed as a mixed-use district,
with residences, retail
space, office buildings, health
centers, educational institutions,
innovative buildings and space
for family learning and creative
activities, to suit various lifestyles
within a complete natural ecosystem.
The residential projects are
‘Whizdom’ condominiums, ‘Mulberry
Grove’ condominiums and
villas, ‘The Aspen Tree’ condominiums,
and ‘Six Senses’ villas
managed by the renowned hotel
brand ‘Six Senses’.
“We aim to be a leading real
estate developer focused on raising
the industry’s standards to
improve quality of life and benefit
society under our dedication
to ‘For All Well-Being’. We focus
on research and develop innovations
and new approaches by
working with world-class partners.
MQDC’s research and studies
are in line with the New Normal
lifestyle, after COVID-19, in
which more and more people pay
attention to details of their lives,”
said Mr. Malaisirirat.
In the midst of the COVID-19
crisis, MQDC’s first priority is the
safety of residents in all its project
and all members of the organization.
MQDC has established
measures to ensure safety and
peace of mind for everyone, taking
care of residents and the organization’s
members, including
operational staff at projects and
in MQDC offices and sales units.
The company has strict cleaning
measures in accordance with
the procedures of the Ministry of
Public Health and also has safeguards
for partners such as construction
staff.
During the COVID-19 crisis,
MQDC has introduced working
from home. MQDC’s top
executive, Mrs. Thippaporn
Ahriyavraromp, Chairman of
Magnolia Quality Development
Corporation Limited (MQDC), has
long had a vision for ‘Work Anywhere’,
for people to work happily
and efficiently from any location.
MQDC has developed systems
and processes to support working
from home. In the COVID-19
lockdown, the company has not
needed to adapt.
Another focus is effective cost
management and MQDC remains
focused on continuous product
and project development because
quality and value creation
are already in the DNA of all its
project.
“Even in the midst of the
COVID-19 crisis, MQDC is still
moving forward with confidence
in the Thai economy in the long
run and in the government’s commitment
to megaprojects such as
the Eastern Economic Corridor
(EEC). Most adjustments are to
short-term plans rather than longterm
objectives. But the sale of
existing projects will continue.
The efforts of the government
and Thailand’s health system,
which are recognized worldwide,
and the globally renowned qualities
of Thais including kindness
are all among the factors that
make Thailand one of the world’s
most attractive places. After
COVID-19, a key factor for foreign
investors is safety and the
public health system.”
“MQDC has already experienced
the Tom Yum Kung crisis,
which makes us always manage
with care. The challenges of the
COVID-19 crisis therefore won’t
stop us from moving forward.
These are MQDC’s views on doing
business amid the lifestyle
changes in line with the New Normal,”
said Mr. Malaisirirat.
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