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Tencent Holdings, the Chinese parent company of the wildly popular WeChat messaging app, is expanding its reach further into Southeast Asia through a partnership with Thailand’s media platform Ookbee. According to a report from TechCrunch published yesterday, the companies plan to launch a new user-generated content platform called Ookbee U in Thailand this year.

Unlike Ookbee’s current business, which is primarily a digital magazine publishing platform, Ookbee U will host a wider array of user-created media, including videos, music and comics.Ookbee CEO Natavudh Pungcharoenpong told TechCrunch that the joint venture would allow content creators the option of monetizing their work. But there are signs that Ookbee and Tencent don’t expect to make much money from the new enterprise anytime soon—Tencent plans to invest at least $19 million in Ookbee U, according to TechCrunch.

The partnership is just the latest move in Tencent’s efforts to establish itself in emerging Southeast Asia markets in the face of slowing growth in China. eMarketer estimates that there will be 223.4 million internet users in Southeast Asia in 2017, meaning that more than one-third of the region’s population will go online at least once per month this year.In December 2016, Tencent bought out the remaining shares of Thai internet services company Sanook Online, which it then rebranded Tencent (Thailand). That gave Tencent full control over popular Thai online portal Sanook.com as well as JOOX, Thailand’s top music-streaming service.

At the time, Krittee Manoleehagul, Tencent (Thailand)’s managing director, told Thai newspaper The Nation that his company already generated most of its revenue through various types of digital advertising, including branded content. That’s sure to appeal to Tencent, which will control 12.4% of net digital ad revenues in China this year by eMarketer estimates, behind both Alibaba and Baidu.

Tencent’s new venture will grant it access to the Philippines, Malaysia, Vietnam and Singapore, as well as Thailand—all markets where Ookbee has had success distributing digital content. They also happen to be markets where Tencent’s flagship product WeChat has struggled to establish itself against other messaging apps, such as Naver Corp.’s Line.It’s likely the trend of Chinese firms either acquiring or partnering with local firms in Southeast Asia will continue unabated over the coming year, with companies like Alibaba and Tencent hoping to replicate their domestic success in these markets.

Source:.emarketer

Thailand’s Tourism and Sports Minister says she wants to extend the free tourist visa concession for another three months after it lapses at the end of February.Tourism Minister, Kobkarn Wattanavrangkul, is expected to present her proposal to the Thai Cabinet, Tuesday.

She will also include extending the period visitors can obtain a visa-on-arrival for THB1,000, instead of the customary THB2,000.The reality is there is no hard evidence that free visas are boosting tourist arrivals, but it sends out a positive message that Thailand welcomes visitors.A belated crackdown on zero-dollar tours from China launched last September triggered the initial three months of free visas and a discount on the visa-on-arrival.

Travel from China remains soft in January but the Chinese who are visiting Thailand will spend more without being fleeced or conned.The minister told the Bangkok Post, last week, that the free visa and visa-on-arrival discount had helped to boost tourist arrivals in December and that during, 1 to 20 January, arrivals reached 1.8 million, representing a 6% increase. Visa-free travellers dominate those arrivals from more than 30 nations, despite China and India (both bound by visa requirements), so attributing a 6% increase in tourist arrivals to a free visa or one that was discounted,  was frankly a leap of faith. Most visitors to Thailand do not require a visa so the scheme, apart from its PR value, probably had no impact at all on the bottom line.

For all the nations that need a visa, Thailand would be better served if it introduced an e-Visa facility using an online application, fast approval and a credit card payment. This would save potential travellers considerable time and reduce the queues at airport visa-on-arrival desks, that are a major pain point for travellers. Immigration officials could still vet applications, check blacklists that are online and reduce the need for costly, time-consuming travel to a consulate, waiting for three days under consideration, or posting a passport in the mail.

It would be particularly useful for Indian travellers who are tech savvy and they would be more comfortable with an online e-Visa service.But extending the free visa concession and discounting a visa-on arrival by 50% makes for positive press. Free or discounted you still have to apply  and queue. The process remains the same regardless of the absence of a fee or a temporary discount.

Source:http://www.ttrweekly.com/site/2017/01/free-visas-for-another-three-months/

Plus Property conducted a real estate survey in regards to luxury condominiums in Bangkok recently and the results showed that there continues to be strong demand from both Thai and foreign customers for these types of units. The property and facilities management company noted that prices for luxury condos rose 30 per cent in the past five years.

“Luxury condominiums are receiving good response due to their unique design, luxury, international image, use of premium materials, tastefully designed and foreign imported furniture, and warranty,” Anukul Ratpitaksanti, Deputy Managing Director, Plus Property Company says. “These properties also have more extensive conveniences and facilities than other properties, including swimming pools, Jacuzzi, fitness facilities with 360 panoramic views, automatic parking facilities, sky lounges, movie theaters, pet zones, playgrounds, and limousine services. Some properties even offer parking more than 100 percent parking, and charging stations for electric vehicles.”

he research showed that there have been 22 luxury condominium projects put on the market since 2011. The majority of these projects are in the central business district with 75 per cent being found in the inner Sukhumvit and Silom-Sathorn areas. One reason property developers are choosing to focus on luxury projects in these areas is due to mid-level and budget properties currently being affected by weakening purchasing power.

Plus Property’s data showed that luxury properties have experienced an average price increase nearly 30 per cent. The majority of luxury projects have been built by large property developers who have more experience in developing upscale projects that cater to high-net worth individuals. Luxury projects also require high-end facilities management to ensure they meet the needs and tastes of residents.

“The facility management at these properties are world-class. Luxury properties are likely to provide even more of these premium features and services in the future,” Anukul concludes.

Source: Property Report

Fuji Heavy Industries Ltd (FHI), the manufacturer of Subaru cars, yesterday announced plans to form a joint venture in February with TC Manufacturing and Assembly (Thailand) Ltd (TCMA TH), a subsidiary of Tan Chong International Ltd, to start production of Subaru vehicles in Thailand.

Currently, Subaru vehicle production in Southeast Asia is conducted at the completely knocked down assembly plant for Tan Chong Motor Assemblies Sdn Bhd in Malaysia, which builds the Subaru XV and the Forester.

With a view to enhancing Subaru’s competitiveness and further growth in Southeast Asia, FHI has decided to start production in Thailand through a joint venture company, Tan Chong Subaru Automotive (Thailand) Ltd, 74.9% of which will be owned by TCMA TH and 25.1% by FHI. The joint venture, to be set up next month, aims to begin production in 2019, according to a statement by FHI.

Production in Malaysia will continue, and Tan Chong International will sell the vehicles produced both in Malaysia and Thailand through its Subaru dealer network. In its mid-term management vision, “Prominence 2020″, announced on May 9, 2014, FHI laid out initiatives to develop a strong business foundation in Southeast Asia.

With this new joint venture project, FHI aims to further enhance Subaru sales in the growing Southeast Asian market. Subaru posted sales in Thailand of 3318 cars in 2016, up by 25.6% year-on-year. Its sales target for 2017 is 3200 units.

Source:Bangkok Post

The homebuilding market is expected to recover next year, driven by the country’s anticipated economic recovery, the government’s infrastructure development plans and higher purchasing power.

Pichit Arunepunlop, president of the Home Builder Association, said the government’s accelerated infrastructure projects are further expected to spur private investment.

“The homebuilding market relies largely on the economy,” he said. “We hope the overall economy next year will improve, as many negative factors begin to end, such as concerns over the referendum on Britain leaving the EU, the US presidential election and oil prices.”

The self-built home market in Greater Bangkok is valued 45-50 billion baht a year. Of this amount, around 20% is shared by homebuilding firms and 80% by individual contractors.

The association expects the market value for homebuilders to grow by 10% next year to 11 billion baht from 10.2 billion this year, which rose slightly from 10 billion in 2015. The 2016 value was below an earlier target of 12 billion baht.

He said the homebuilding market this year was weak with lower-than-expected overall market value due to several negative factors in the second half, including high household debt, a poor economy and the passing of His Majesty King Bhumibol Adulyadej.

“Demand remains strong but people have put off their buying decisions until next year,” he said. “We expect demand will pick up and boost market growth in 2017.”

Mr Pichit added that the market share from the provinces rose to 25% this year from 17% last year as available land plots in Bangkok are becoming limited with rising land costs.

This has also driven Bangkok-based homebuilding firms to seek new target buyers outside of the capital since last year. Currently, the association’s members have a market share of 20% in the provinces.

He added the new land and buildings tax law, despite its enforcement being postponed until 2018, is still expected to encourage landowners to sell their land next year.

Source: Bangkok Post