Citi’s Global Transaction Services business today announced that Citi Issuer Services has been appointed as the Issuing and Paying Agent for the first Sukuk to be cleared through the central securities depositary (CSD) of NASDAQ Dubai, the international stock exchange serving the Middle East. The $100m Sukuk, issued by the International Finance Corporation (IFC), listed on November 4, 2009. NASDAQ Dubai now has 22 listed Sukuk with a nominal value of US$17.2 billion. The Sukuk issued by IFC, which is part of the World Bank Group, is the first one that uses the NASDAQ Dubai CSD to hold its securities. Citi will be providing the Paying Agency and Delegate Trustee roles on the Sukuk for the life of the deal. Furthermore, as this was a ground-breaking deal, the transaction required Citi to open and administer a "New Issues account" opened with the NASDAQ Dubai to create and deliver the securities into the primary market.
Steve Donovan, Head of Global Transaction Services, Middle East and Pakistan said," As a leading global issuing & paying agent, Citi is thrilled to be extending these services for the first time through the NASDAQ Dubai CSD in this landmark deal. The listing and clearing of the IFC Sukuk is a significant step forward in the further development of Dubai and the Middle East as a centre of excellence for the clearing, settlement and custody of debt securities. Additionally, the inclusion of this new domestic market to the Issuer Services suite of domestic capabilities underscores the growing recognition of our Securities and Funds Services business in the Middle East and our ongoing commitment to the region".
Jeff Singer, Chief Executive of NASDAQ Dubai, said, "As Dubai expands as a centre of Islamic finance, NASDAQ Dubai looks forward to listing more Sukuk and supporting these through its CSD. The successful handling of the IFC Sukuk demonstrates the efficiency and cost effectiveness of the exchange’s CSD framework, which can also handle conventional bonds. Citi’s role as issuing and paying agent has played a key part in the success of the IFC Sukuk listing."
Citi has been in the Arab world for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in 10 Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.
Saturday, January 30, 2010
Friday, November 20, 2009
Deutsche Bank Makes Strategic Appointments in its Global Transaction Banking Business in Asia
Hong Kong/ Singapore, August 19, 2009 ¡V Deutsche Bank today announced that in line with the strategic expansion of its Global Transaction Banking franchise in Asia, it has made the following
appointments:
Shivkumar Seerapu - Global Product Head of Financial Supply Chain and Regional Trade
Product Head for Asia
Eric Koo - Head of Global Transaction Banking, Hong Kong
Mrugank Paranjape ¡V Head of Domestic Custody Services, South & South East Asia
Ridzal Sheriff - Head of Global Transaction Banking, Malaysia
Jacqueline William - Chief Executive Officer of Deutsche Trustee Malaysia Berhard (DTMB)
Shivkumar Seerapu, currently the Regional Product Head for Trade Finance, Asia Pacific,
Deutsche Bank, has taken on the additional role as the Global Product Head of Financial Supply
Chain. He will continue to be based in Singapore.
Based in Hong Kong, as Head of Global Transaction Banking, Hong Kong, Eric Koo will be
responsible for spearheading Deutsche Bank¡¦s transaction banking strategies and aligning its
business plans with the region¡¦s priorities. Eric joined Deutsche Bank in 2006 as Head of Trade
Finance and Cash Management Corporates in Hong Kong where he has successfully built a
strong team focused on acquiring high quality clients and capturing trade flows across Greater
China whilst positioning Deutsche Bank as a strategic partner for regional treasury centres in Hong
Kong.
Mrugank Paranjape, Head of Domestic Custody Services, India, will now assume additional
responsibilities as Head of Domestic Custody Services, South & South East Asia with immediate
effect. The countries under Mrugank¡¦s remit are India, Indonesia, Malaysia, Pakistan, Singapore,
Sri Lanka, Thailand and Vietnam. Mrugank will continue to be based in Mumbai.
Ridzal Sheriff, currently the Chief Executive Officer of DTMB will succeed Rojeanne Sen as Head
of Global Transaction Banking and Domestic Custody Services for Deutsche Bank in Malaysia.
Rojeanne Sen, who has been with Deutsche Bank for 15 years will be retiring in November 2009.
Ridzal joined Deutsche Bank in 2007. In his new appointment, Ridzal will focus on growing the
Bank¡¦s transaction banking franchise in Malaysia through quality client acquisitions and targeted
market expansion. He will be based in Malaysia.
Jacqueline William, previously the Head of Client Services for Deutsche Bank¡¦s Domestic Custody Services business in Malaysia will succeed Ridzal as the Chief Executive Officer of DTMB. In her new role, Jacqueline will continue to drive strategy and grow the DTMB franchise.
Thomas DuCharme, Regional Head of Global Transaction Banking, Asia ex-Japan, Deutsche
Bank, said, ¡§We are convinced Asia will represent disproportionate amount of growth in trade
finance, cash management and custody in the coming years, so are very pleased to position our
high calibre talent to capture this next phase of growth in the region.
appointments:
Shivkumar Seerapu - Global Product Head of Financial Supply Chain and Regional Trade
Product Head for Asia
Eric Koo - Head of Global Transaction Banking, Hong Kong
Mrugank Paranjape ¡V Head of Domestic Custody Services, South & South East Asia
Ridzal Sheriff - Head of Global Transaction Banking, Malaysia
Jacqueline William - Chief Executive Officer of Deutsche Trustee Malaysia Berhard (DTMB)
Shivkumar Seerapu, currently the Regional Product Head for Trade Finance, Asia Pacific,
Deutsche Bank, has taken on the additional role as the Global Product Head of Financial Supply
Chain. He will continue to be based in Singapore.
Based in Hong Kong, as Head of Global Transaction Banking, Hong Kong, Eric Koo will be
responsible for spearheading Deutsche Bank¡¦s transaction banking strategies and aligning its
business plans with the region¡¦s priorities. Eric joined Deutsche Bank in 2006 as Head of Trade
Finance and Cash Management Corporates in Hong Kong where he has successfully built a
strong team focused on acquiring high quality clients and capturing trade flows across Greater
China whilst positioning Deutsche Bank as a strategic partner for regional treasury centres in Hong
Kong.
Mrugank Paranjape, Head of Domestic Custody Services, India, will now assume additional
responsibilities as Head of Domestic Custody Services, South & South East Asia with immediate
effect. The countries under Mrugank¡¦s remit are India, Indonesia, Malaysia, Pakistan, Singapore,
Sri Lanka, Thailand and Vietnam. Mrugank will continue to be based in Mumbai.
Ridzal Sheriff, currently the Chief Executive Officer of DTMB will succeed Rojeanne Sen as Head
of Global Transaction Banking and Domestic Custody Services for Deutsche Bank in Malaysia.
Rojeanne Sen, who has been with Deutsche Bank for 15 years will be retiring in November 2009.
Ridzal joined Deutsche Bank in 2007. In his new appointment, Ridzal will focus on growing the
Bank¡¦s transaction banking franchise in Malaysia through quality client acquisitions and targeted
market expansion. He will be based in Malaysia.
Jacqueline William, previously the Head of Client Services for Deutsche Bank¡¦s Domestic Custody Services business in Malaysia will succeed Ridzal as the Chief Executive Officer of DTMB. In her new role, Jacqueline will continue to drive strategy and grow the DTMB franchise.
Thomas DuCharme, Regional Head of Global Transaction Banking, Asia ex-Japan, Deutsche
Bank, said, ¡§We are convinced Asia will represent disproportionate amount of growth in trade
finance, cash management and custody in the coming years, so are very pleased to position our
high calibre talent to capture this next phase of growth in the region.
Wednesday, November 4, 2009
Index revives plan for India franchise
Index Living Mall Co, the Thai homefurnishing retail chain, is reviving its plan to open franchise stores in India after its first deal two years ago did not get through.
Jarinthorn Patamasatayasonthi, the company's managing director, said the business plan was reviewed after it was contacted by a new Indian investor,who had visited Index Living Mall in Dubai recently.
"We saw a huge opportunity in the Indian market because there are only conventional furniture stores available in the country. While the Indian economy is booming, there is less competition [in the segment] there," she said.
Index was in talks with another Indian investor in 2006 but the deal could not be concluded.
Verachai Kunavichayanont, vicechairman of the furniture club under the Federation of Thai Industries, said demand for Thai-made furniture in India gradually rises every year because products are cheaper than comparable designs from Western brands.
Thai furniture will enjoy an even greater competitive advantage after the free trade area agreement between Thailand and India takes effect next year. Under the FTA, the import tariff on furniture to India will be gradually cut to between zero and 5%, down from 35-40% at present, he said.
Currently, few Asian furniture brands are available in India, leaving Thai brands with much room and potential to expand their businesses.
As well as in India, the company is conducting a feasibility study to open new outlets through the franchise system in the Middle East, said Ms Jarinthorn.
At home, the company plans to spend 1 billion baht to open two more outlets in Bangkok next year in addition to the Bang Na branch, which is to be opened early next year under an earlier plan.
Moreover, the company plans to renovate its existing stores and to adjust product displays.
More designers will be hired to design home decorative items and furniture while the number of exclusive items available at its stores will be increased to 50% from 30% at present.These plans should help Index Living Mall differentiate itself from its rivals.
The company expects its sales to reach 7.5 billion baht this year. Of the total, about 2 billion baht will come from exports. Sales of Index in the first 10 months grew by 8%, slightly below its earlier projection of 10%. Business from Dubai has provided much of the company's sales.
Jarinthorn Patamasatayasonthi, the company's managing director, said the business plan was reviewed after it was contacted by a new Indian investor,who had visited Index Living Mall in Dubai recently.
"We saw a huge opportunity in the Indian market because there are only conventional furniture stores available in the country. While the Indian economy is booming, there is less competition [in the segment] there," she said.
Index was in talks with another Indian investor in 2006 but the deal could not be concluded.
Verachai Kunavichayanont, vicechairman of the furniture club under the Federation of Thai Industries, said demand for Thai-made furniture in India gradually rises every year because products are cheaper than comparable designs from Western brands.
Thai furniture will enjoy an even greater competitive advantage after the free trade area agreement between Thailand and India takes effect next year. Under the FTA, the import tariff on furniture to India will be gradually cut to between zero and 5%, down from 35-40% at present, he said.
Currently, few Asian furniture brands are available in India, leaving Thai brands with much room and potential to expand their businesses.
As well as in India, the company is conducting a feasibility study to open new outlets through the franchise system in the Middle East, said Ms Jarinthorn.
At home, the company plans to spend 1 billion baht to open two more outlets in Bangkok next year in addition to the Bang Na branch, which is to be opened early next year under an earlier plan.
Moreover, the company plans to renovate its existing stores and to adjust product displays.
More designers will be hired to design home decorative items and furniture while the number of exclusive items available at its stores will be increased to 50% from 30% at present.These plans should help Index Living Mall differentiate itself from its rivals.
The company expects its sales to reach 7.5 billion baht this year. Of the total, about 2 billion baht will come from exports. Sales of Index in the first 10 months grew by 8%, slightly below its earlier projection of 10%. Business from Dubai has provided much of the company's sales.
Wednesday, October 28, 2009
Irish sandwich chain faces liquidation
O'Brien's Sandwich Bars, a major success story of Ireland's dead Celtic Tiger economy, was handed over to liquidators on Wednesday after a judge declined to set aside the chain's expensive Dublin leases on more than 80 franchises.
Dublin-born O'Brien's was Ireland's answer to Starbucks. It spread across much of the globe over the past decade of unprecedented Irish ambition, reaching more than a dozen countries, including Australia, China, India, Indonesia and Saudi Arabia.
But like many pub and restaurant groups in Ireland, O'Brien's has struggled with crippling debts ever since the economy plummeted into deep recession over the past year. The company's British unit sought protection from creditors in June, followed a month later by its Irish parent, which employs 800.
O'Brien's founder, Brody Sweeney,had hoped to sell his business to an investor group led by Graeme Beere,owner of several rival fast-food chains in Ireland, including Abrekebabra and Gourmet Burger. But Beere's consortium had insisted that O'Brien's transfer ownership of its property leases over to franchise operators, who objected that they couldn't afford them either.
Beere withdrew his offer on Tuesday after a Dublin High Court judge, John MacMenamin, ruled that he couldn't set aside the leases.
It's only the latest in a series of spectacular implosions for top Dublin restaurateurs and publicans, who are struggling to make debt payments following rapid Celtic Tiger expansions on cheap credit that's evaporated. Other recent casualties are the Thomas Read Group,which owned more than a dozen of Dublin's most popular and architecturally impressive pubs, and Michelin-starred restaurants, Mint.
Dublin-born O'Brien's was Ireland's answer to Starbucks. It spread across much of the globe over the past decade of unprecedented Irish ambition, reaching more than a dozen countries, including Australia, China, India, Indonesia and Saudi Arabia.
But like many pub and restaurant groups in Ireland, O'Brien's has struggled with crippling debts ever since the economy plummeted into deep recession over the past year. The company's British unit sought protection from creditors in June, followed a month later by its Irish parent, which employs 800.
O'Brien's founder, Brody Sweeney,had hoped to sell his business to an investor group led by Graeme Beere,owner of several rival fast-food chains in Ireland, including Abrekebabra and Gourmet Burger. But Beere's consortium had insisted that O'Brien's transfer ownership of its property leases over to franchise operators, who objected that they couldn't afford them either.
Beere withdrew his offer on Tuesday after a Dublin High Court judge, John MacMenamin, ruled that he couldn't set aside the leases.
It's only the latest in a series of spectacular implosions for top Dublin restaurateurs and publicans, who are struggling to make debt payments following rapid Celtic Tiger expansions on cheap credit that's evaporated. Other recent casualties are the Thomas Read Group,which owned more than a dozen of Dublin's most popular and architecturally impressive pubs, and Michelin-starred restaurants, Mint.
Magnificent seven
In the most important, most revered event since the invention of the brontosaurus trap,Microsoft shipped the most incredibly fabulous operating system ever made; the release of Windows 7 also spurred a new generation of personal computers of all sizes at prices well below last month's offers.The top reason Windows 7 does not suck: There is no registered website called Windows7Sucks.com
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
Kindle e-book reader maker Amazon.com and new Nook e-book reader vendor Barnes and Noble got it on; B&N got great reviews for the "Kindle killer"Nook, with dual screens and touch controls so you can "turn" pages, plays MP3s and allows many non-B&N book formats, although not the Kindle one;Amazon then killed the US version of its Kindle in favour of the international one, reduced its price to $260(8,700 baht), same as the Nook; it's not yet clear what you can get in Thailand with a Nook, but you sure can't (yet) get much, relatively speaking, with a Kindle;but here's the biggest difference so far,which Amazon.com has ignored: the Nook lets you lend e-books to any other Nook owner, just as if they were paper books; the borrowed books expire on the borrower's Nook in two weeks.
Phone maker Nokia of Finland announced it is suing iPhone maker Apple of America for being a copycat; lawyers said they figure Nokia can get at least one, probably two per cent (retail) for every iPhone sold by Steve "President for Life" Jobs and crew via the lawsuit,which sure beats working for it -$6 (200 baht) to $12(400 baht) on 30 million phones sold so far, works out to $400 million or 25 percent of the whole Apple empire profits during the last quarter;there were 10 patent thefts, the Finnish executives said, on everything from moving data to security and encryption.
Nokia of Finland announced that it is one month behind on shipping its new flagship N900 phone, the first to run on Linux software; delay of the $750(25,000 baht) phone had absolutely no part in making Nokia so short that it had to sue Apple, slap yourself for such a thought.
Tim Berners-Lee, who created the World Wide Web, said he had one regret:the double slash that follows the "http:"in standard web addresses; he estimated that 14.2 gazillion users have wasted 48.72 bazillion hours typing those two keystrokes, and he's sorry; of course there's no reason to ever type that, since your browser does it for you when you type "www.bangkokpost.com" but Tim needs to admit he made one error in his lifetime.
The International Telecommunication Union of the United Nations, which doesn't sell any phones or services, announced that there should be a mobile phone charger that will work with any phone; now who would ever have thought of that, without a UN body to wind up a major study on the subject?;the GSM Association estimates that 51,000 tonnes of chargers are made each year in order to keep companies able to have their own unique ones.
The Well, Doh Award of the Week was presented at arm's length to the United Nations Conference on Trade and Development; the group's deputy secretary-general Petko Draganov said that developing countries will miss some of the stuff available on the Internet if they don't install more broadband infrastructure; a report that used your tax baht to compile said that quite a few people use mobile phones but companies are more likely to invest in countries with excellent broadband connections; no one ever had thought of this before, right?
Sun Microsystems , as a result of the Oracle takeover, said it will allow 3,000 current workers never to bother coming to work again; Sun referred to the losses as "jobs," not people; now the fourth largest server maker in the world, Sun said it lost $2.2 billion in its last fiscal year; European regulators are holding up approval of the Oracle purchase in the hope of getting some money in exchange for not involving Oracle in court cases.
The multi-gazillionaire and very annoying investor Carl Icahn resigned from the board at Yahoo ; he spun it as a vote of confidence, saying current directors are taking the formerly threatened company seriously; Yahoo reported increased profits but smaller revenues in the third quarter.
The US House of Representatives voted to censure Vietnam for jailing bloggers; the non-binding resolution sponsored by southern California congresswoman Loretta Sanchez said the Internet is "a crucial tool for the citizens of Vietnam to be able to exercise their freedom of expression and association;"Hanoi has recently jailed at least nine activists for up to six years apiece for holding pro-democracy banners. Iran jailed blogger Hossein "Hoder" Derakshan for 10 months - in solitary confinement.
Wednesday, October 14, 2009
Minor to take The Pizza Company, Swensen's to more provinces
The Minor Food Group, the leading operator of quick-service and fast-casual restaurants, will expand its core brands - The Pizza Company and Swensen's - into third-tier provinces through franchising.
The company claims 100-per-cent coverage of first- and second-tier provinces, which have populations of more than 1 million and between 500,000 and 1 million, respectively.
Arth Prakhunhungsit, general manager-franchising, said the company would open 10 new franchised restaurants each for The Pizza Company and Swensen's focusing on third-tier provinces, which have a population of less than 500,000. These include Nakhon Phanom, Yasothon, Kalasin, Mae Hong Son, Tak, Kamphaeng Phet, Trat, Satun, Phang Nga and Narathiwat.
"With franchising, we are able to expand our flagship restaurant brands more aggressively, especially in second- and third-tier provinces," said Arth.
He added that the company had reduced the investment cost for its franchisees opening restaurants by 15 per cent on average by simplifying store designs and fixtures.
The initial cost for opening each The Pizza Company outlet through franchising is about Bt10.5 million, and about Bt6 million for each Swensen's restaurant. Each store occupies an average space of between 180 and 200 square metres.
He said the company also required local entrepreneurs to have knowledge and skills in their own communities.
"We have a strong management system, which can be applied and implemented immediately by our franchisees," he added.
Arth said the company started franchising The Pizza Company brand in 2002, while franchising of Swensen's began in 2004.
Minor Food Group operates 203 The Pizza Company restaurants in Thailand, 49 of which are franchised outlets.
The company also has 39 The Pizza Company restaurants in many markets abroad, including China, Dubai, Saudi Arabia, Jordan, Bahrain and Cambodia. About 14 of these outlets, mainly in China, are the company's own.
Arth said the company had 216 Swensen's restaurants in Thailand, of which 102 are franchises. It also has six franchised Swensen's in Dubai, Saudi Arabia and Cambodia.
"We plan to open new franchised outlets for both The Pizza Company and Swensen's in Laos in December, and early next year in Vietnam and India," said Arth.
He said all franchisees would run their restaurants under 10-year contracts. The payback period will be about four years.
Minor Food Group yesterday announced 24-per-cent growth in year-to-date sales by The Pizza Company franchised restaurants. The corresponding growth for Swensen's franchised outlets is 38 per cent from the same period last year.
Average same-store growth for both The Pizza Company and Swensen's in the first nine months of the year came in at 2 per cent. This represents an improvement on the 1-per-cent average posted last year.
"We expect our franchised outlets, both The Pizza Company and Swensen's, to generate combined sales of about Bt1.6 billion by the end of this year, about Bt790 million of which will be from The Pizza Company," said Arth.
The company claims 100-per-cent coverage of first- and second-tier provinces, which have populations of more than 1 million and between 500,000 and 1 million, respectively.
Arth Prakhunhungsit, general manager-franchising, said the company would open 10 new franchised restaurants each for The Pizza Company and Swensen's focusing on third-tier provinces, which have a population of less than 500,000. These include Nakhon Phanom, Yasothon, Kalasin, Mae Hong Son, Tak, Kamphaeng Phet, Trat, Satun, Phang Nga and Narathiwat.
"With franchising, we are able to expand our flagship restaurant brands more aggressively, especially in second- and third-tier provinces," said Arth.
He added that the company had reduced the investment cost for its franchisees opening restaurants by 15 per cent on average by simplifying store designs and fixtures.
The initial cost for opening each The Pizza Company outlet through franchising is about Bt10.5 million, and about Bt6 million for each Swensen's restaurant. Each store occupies an average space of between 180 and 200 square metres.
He said the company also required local entrepreneurs to have knowledge and skills in their own communities.
"We have a strong management system, which can be applied and implemented immediately by our franchisees," he added.
Arth said the company started franchising The Pizza Company brand in 2002, while franchising of Swensen's began in 2004.
Minor Food Group operates 203 The Pizza Company restaurants in Thailand, 49 of which are franchised outlets.
The company also has 39 The Pizza Company restaurants in many markets abroad, including China, Dubai, Saudi Arabia, Jordan, Bahrain and Cambodia. About 14 of these outlets, mainly in China, are the company's own.
Arth said the company had 216 Swensen's restaurants in Thailand, of which 102 are franchises. It also has six franchised Swensen's in Dubai, Saudi Arabia and Cambodia.
"We plan to open new franchised outlets for both The Pizza Company and Swensen's in Laos in December, and early next year in Vietnam and India," said Arth.
He said all franchisees would run their restaurants under 10-year contracts. The payback period will be about four years.
Minor Food Group yesterday announced 24-per-cent growth in year-to-date sales by The Pizza Company franchised restaurants. The corresponding growth for Swensen's franchised outlets is 38 per cent from the same period last year.
Average same-store growth for both The Pizza Company and Swensen's in the first nine months of the year came in at 2 per cent. This represents an improvement on the 1-per-cent average posted last year.
"We expect our franchised outlets, both The Pizza Company and Swensen's, to generate combined sales of about Bt1.6 billion by the end of this year, about Bt790 million of which will be from The Pizza Company," said Arth.
Thursday, September 24, 2009
Canon to franchise photo-book service
Canon Marketing (Thailand) will franchise its photo book-making service next quarter to tap rising demand from consumers in the near future, while its traditional enterprise market has been throttled by the global crisis.
"The photo book-making service overseas such as in the US is very popular, as the business so far this year has grown by 35 per cent from last year. We expect our revenue from the new business to grow not less than that in the US," Soontorn Pantaramongkon, senior director and general manager for business imakging solutions, said yesterday.
Canon wants to diversify risk from the corporate market, which took the brunt of the economic slump, while the retail market was relatively unscathed.
The company along with its strategic partner in photo book-making - Sib Khon - were preparing a franchise business model under the brand "imageGang by Canon", as well as a marketing plan aimed at whipping up consumer demand.
The companies plan to unveil the new business model next quarter.
Canon Marketing will recognise revenue from the business by selling printing solutions and after-sales services to the franchisees.
Sib Khon has designed photo book-making software to use with Canon's Press C6000 digital image printer. Canon and Sib Khon started the business at the beginning of this year by setting up the first branch in Siam Square.
The photo book-making service is under Canon's print on-demand business unit (POD). Sales of Canon printers have dropped from last year, while sales of products from the POD and the professional and graphic arts business unit (PGA) have increased by 50 per cent.
About 80 per cent of Canon's revenue comes from multifunction photocopiers, and colour and black-and-white digital printers.
The overall market for those products in the first half of the year slid by 15 per cent from the same half in 2008. Although Canon has lost share in that business - from 23 per cent last year to 20 per cent - it is still the market leader.
POD and PGA focus on printing for young entrepreneurs and SMEs, whose printing volumes are smaller than that of a large corporation.
Examples of printing materials are business cards, manuals, brochures, cards, posters, leaflets and coupons.
Canon targets its total revenue rising 18 per cent this year to Bt1.28 billion, with Bt60 million generated by POD and PGA. That forecast excludes revenue from photo book-making service, which is quite difficult to evaluate this year.
"The photo book-making service overseas such as in the US is very popular, as the business so far this year has grown by 35 per cent from last year. We expect our revenue from the new business to grow not less than that in the US," Soontorn Pantaramongkon, senior director and general manager for business imakging solutions, said yesterday.
Canon wants to diversify risk from the corporate market, which took the brunt of the economic slump, while the retail market was relatively unscathed.
The company along with its strategic partner in photo book-making - Sib Khon - were preparing a franchise business model under the brand "imageGang by Canon", as well as a marketing plan aimed at whipping up consumer demand.
The companies plan to unveil the new business model next quarter.
Canon Marketing will recognise revenue from the business by selling printing solutions and after-sales services to the franchisees.
Sib Khon has designed photo book-making software to use with Canon's Press C6000 digital image printer. Canon and Sib Khon started the business at the beginning of this year by setting up the first branch in Siam Square.
The photo book-making service is under Canon's print on-demand business unit (POD). Sales of Canon printers have dropped from last year, while sales of products from the POD and the professional and graphic arts business unit (PGA) have increased by 50 per cent.
About 80 per cent of Canon's revenue comes from multifunction photocopiers, and colour and black-and-white digital printers.
The overall market for those products in the first half of the year slid by 15 per cent from the same half in 2008. Although Canon has lost share in that business - from 23 per cent last year to 20 per cent - it is still the market leader.
POD and PGA focus on printing for young entrepreneurs and SMEs, whose printing volumes are smaller than that of a large corporation.
Examples of printing materials are business cards, manuals, brochures, cards, posters, leaflets and coupons.
Canon targets its total revenue rising 18 per cent this year to Bt1.28 billion, with Bt60 million generated by POD and PGA. That forecast excludes revenue from photo book-making service, which is quite difficult to evaluate this year.
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