At A Glance

“Your Voice, We Care” is Betagro’s flagship program for long-term labour development and problem solving, using the voice of workers as a valuable resource for driving sustainable change. Betagro will be collaborating with Issara Institute to kick off the initiative, initially as a pilot. This project will advance Betagro’s pre-established labour standards, which the company said are in line with both Thai law and international labour standards, and support Issara’s objective to advance working conditions and worker rights in Thailand through business partnerships. 
The Issara Institute said that its “inclusive labour monitoring” model is a worker voice-driven approach to support supply chain transparency and supplier strengthening. It provides ongoing monitoring of workplace conditions to identify and address labour risk through technology and supplier collaboration, rather than a point-in-time audit approach, the institute said.
It said that the aim of the pilot with Betago is to strengthen labour management practices in participating sites across animal and food producer Betagro’s supply chain, providing benefits to workers and business. The collaboration will also enable Betagro employees, and employees of its suppliers, with access to Issara’s independent worker voice channels.
Those channels include a 24/7 multilingual helpline, Golden Dreams migrant worker smartphone app, and Issara personal messaging options such as Line, Viber and Facebook Messenger.
These channels allow migrant workers to confidentially share questions and feedback to Issara, who, in collaboration with Betagro and its suppliers, work to bring tangible and sustainable improvements to the poultry sector.

Banks respond to flooded customers with payback pauses, special loans

The Small and Medium Development Bank, or SME Development Bank, said it has launched emergency measures to help its customers in flood-hit areas.
They have suspended loan payback requirements and will allow restructuring of loans for six months for affected customers staying in the flooded areas. The bank also says it will suspend payment of interest on loans for the first six months of a customer’s promissory note.
The bank also offers a five-year emergency loan with a one-year grace period and a 4.99 per cent interest rate. Customers will also get a loan guarantee from Thai Credit Guarantee Corporation for rehabilitating their business due to the flood.
Customers with loans under Bt1 million can also get an emergency loan up to Bt500,000. Customers who have worth between Bt1 million and Bt5 million can get emergency loans of up to Bt1 million for their business. Customers with loans over Bt5 million can get an emergency loan worth up to Bt2 million to rehabilitate their business, said the bank’s president, Mongkon Leelatham.
In addition, Krung Thai Bank and Kasikorn Bank have adjusted their terms in response to the crisis experienced by customers who have been hit by flooding. Krung Thai Bank said it will offer a grace period on loans, and no interest rate charges for the first three months. They said they will cut the interest rate 0.25 per cent for the fourth and 12th months for home loan customers. The bank will also allow personal-loan customers to suspend payback loan for the first three months. Small and medium enterprises (SMEs) will get a 1 per cent reduction on the interest rate and loan payback extended for six months.
Kasikorn Bank has offered to suspend loan payback for up to 12 months for its customers whose businesses have been impacted by the floods.

Logistics provider Triple I (III) expected to enter SET trade in Q3

Executives of Triple I Logistics (III), yesterday held a press conference to introduce the integrated logistics provider in Thailand, and its IPO Plan. Their turnkey logistics services cover air and sea freight, land transport, total logistics management and logistics services for specialty chemicals. 
The company’s 2016 earnings grew by 245 per cent from the previous year’s earnings. 
The IPO offering to the public will be about 160 million shares, no more than 27 per cent of total issued shares. 
The company expects to list on the SET in the third quarter of this year.