BUSINESS SUPPLEMENTHigh Tower Co., Ltd. Tel: 038 411 009For all your advertising enquiries - Tel: 0846 77 43 60
MALAYSIAAIRLINESFIGHTING FORSURVIVALMalaysia Airlines will have nochoice but to shut down its entire operationsif the company’s lessors donot back its latest restructuring plan.The news comes after rejection by anumber of lessors to the proposals.Malaysia Airlines group chiefexecutive officer Izham Ismail wasquoted as saying, “There are creditorswho have agreed already. Thereare others still resisting, and anothergroup still 50:50,” adding, “I need toget the 50:50 ones (on board) withthose who have agreed. I understandquite a sizeable amount of creditorshave agreed.”According to Izham a plan wasbeing floated to reorganize MalaysiaAirline’s balance sheet over the nextfive years, with a view to reaching abreak-even point in 2023. Howeverthis assumed that South East Asiantravel markets return to their pre-covidlevels by mid or late 2022, somethingthat is by no means assured. As well,a cash injection is sought from theairlines major shareholder, KhazanahNasionalThe airline’s parent company,Malaysia Aviation Group (MAG), wasquoted as saying in an email to Reuters,“(MAG) is confident that thereare appropriate legal mechanismsavailable should that support not beuniversal,” adding, “MAG reiteratesthat the spirit of its restructuring planis not intended to create unnecessarypain among its creditors but is donein good faith to drive for the long-termsurvivability of MAG and its dependentvalue chain of partners.”DANONE SELLSITS STAKE INYAKULTYakult, the Japanese companythat sells the popular probioticsdrinks in Thailand, China, Indonesiaand Japan amongst many othercountries has announced that itscapital tie up with French food giantDanone has come to end. Danonesold its 6.61 per cent stake inYakult forcing the share price downand marking the end of twentyyears of share ownership.Yet the companies will still worktogether. In a statement, Yakultwas quoted as saying, "Yakult andDanone will maintain their longtermamicable relationship andcontinue to promote probiotics inthe future.”The Danone-Yakult capital partnershipstarted in the year 2000when Danone bought a 5 per centBUSINESS SUPPLEMENTAROUND THE ASIAN REGIONstake of the company. It increasedits stake to 21 per cent not longafter.Yakult’s business is very robust,using local agents called “YakultLadies” to reach all corners of itsmarket. Last year, the Japanesecompany sold a whopping 6.36million probiotic drinks every dayin Indonesia on average, and 8.12million units per day in China. However with a joint venture involvingDanone in India the company onlysold 238,000 units per day there.Sources at Yakult were quotedas saying, "We couldn't make Danonefully understand our expertise,including marketing by Yakult Ladies,our unique home-delivery salesnetwork."Hisayuki Shimokawa, an analystat Tachibana Securities in Tokyowas quoted as saying, "The collaborationbetween Yakult and Danonehad few synergistic effects in thefirst place, and therefore it will onlyhave a little impact on Yakult's managementeven if Danone ceases tobe a shareholder," adding, "It willbe important for Yakult to expandits business in China and other Asiacountries.”INDIA'S EXPORTSOF RICE TO RISEON LOWER RUPEE,THAI DROUGHTS.India's rice exports could rise asmuch as 42 per cent based on lowerexports from Thailand and Vietnamas well as a lower Indian Rupee.According to B.V. Krishna Rao,president of the Rice Exporters Association,India’s rice exports couldsurge from 9.9 million tons to asmuch as 14 million.He was quoted as saying, "Thailand'sshipments are falling due tothe drought. Vietnam is strugglingbecause of lower crop. That share isnaturally coming to India.”Indeed, Thailand’s exports couldfall to just 6.5 million tons due todroughts that occurred earlier in theyear. It will be a twenty-year low forthe worlds second largest rice exporter.Nitin Gupta, vice president forOlam India's rice business was quotedas saying, "Basmati rice demandis more-or-less stable, but in non-basmatiwe have seen a huge surge indemand due to attractive prices.”AMA FASHION PATTAYABespoke TailorAMA FASHION PATTAYA IS A BESPOKE TAILOR SHOPFOR MEN & WOMEN. OUR REPEAT CUSTOMERS SAYAMA- FASHION IS THE SAVILE ROW OF ASIA.WE FOCUS ON THE QUALITY OF OUR FABRICS & WORKMANSHIP.WE ARE LOCATED AT PATTAYA KLANG,NEAR THE JUACTION WITH SECOND ROAD.Tel: +66 3836 1861Mobile: +66 8151 77321Pattaya BeachAMA Fashion PattayaPattaya Beach RoadCentral Pattaya RoadPattaya Second RoadHard Rock HotelP.S. Bowling PlazaBest SupermarketDirections for taxi: พัทยากลาง ตรงขาม พี เอส โบวลิ่ง พลาซา (PATTAYA KLANG ROAD)Email: ben.hightowerltd@gmail.comwww.Thailand-Business-Supplement.com
Change language