Air-conditioner producers are asking the government to extend excise tax waivers to their inventories, as recently approved tax waivers would immediately make it tougher to sell their huge existing stocks.
Most manufacturers currently have high stocks, as sales have been sluggish in the slowdown, said Phairat Uechooyos, chairman of the air-conditioning and refrigerator club of the Federation of Thai Industries (FTI).
The industry estimates it has about 100,000 air-conditioner units in stock, for which it claims to have paid more than 500 million baht in excise tax.
Producers would face an immediate loss if they discounted their stocks in line with the tax waivers, he said.
"We are calling on the Excise Department to provide a tax refund for existing stocks to help ease the manufacturers' financial burden," he said.
"The cancellation of excise tax is good to improve the industry's performance and increase employment and competitiveness in this sector, but the government and private sector should help each other to tackle this difficulty during the transition period."
Cabinet ministers agreed this week to waive excise taxes for air-conditioners of up to 72,000 British thermal units (BTU) per hour. Duties will be cut from 15% to zero to help the domestic air-conditioner industry.
The tax cut would take 2,300 baht off the retail price of air-conditioners with a range of 9,000 to 18,000 BTU and 2,100 baht for units with a range of 13,000 to 18,000 BTU.
Thailand has about 178 air-conditioner producers. About 60 are local small and medium-sized enterprises and the rest are joint-venture firms, international brands and large-scale producers.
The industry produced about 17 million air-conditioning units last year. Facing the major challenge of falling export orders, most producers now rely on domestic sales.
The Excise Department generated 1.7 billion baht from excise taxes on air conditioners last year, representing 0.63% of total excise tax collection.
Air-conditioner exports were worth 300 billion baht last year, up from 100 billion five years ago.
Friday, August 28, 2009
Thai air-con manufacturers feel the heat of China FTA
Local air-conditioner manufacturers foresee fiercer competition from Chinese imports under the Asean-China Free-Trade Agreement, which will put pressure on local products despite eliminating excise tax.
"For a particular category, a Chinese air-conditioner retails for Bt8,000, against Bt20,000 for a Thai unit. This FTA will cause difficulties for domestic sales and exports to neighbouring countries," said Phairat Uechooyos, chairman of the Federation of Thai Industries' Air-Conditioning and Refrigeration Club.
Phairat said other Asean members would experience similar pressure, a result of China's huge production capacity.
China can produce 34 million air-conditioners a year, against 17 million for Thailand, Japan and South Korea combined.
The Asean-China FTA eliminated tariffs on 3,906 products in 2006 and will do so for another 2,660 items, including air-conditioners, next January.
To protect consumers and local companies, the government should impose standard requirements on Chinese products, Phairat said.
He said local companies were already suffering from lower sales, due to the global economic downturn. Exports of air-conditioners and refrigerators are expected to decline 20 per cent to Bt300 billion this year. Domestic sales of the units have remained flat, because local consumers are awaiting cheaper prices following waiving of the 17-per-cent excise tax. The Finance Ministry expects local prices to drop up to 10 per cent.
Phairat said despite abolishing the tax, it would be at least four months before retail prices could be cut, because 100,000 units on which Bt500 million in excise tax had already been paid must be sold first.
Manufacturers have asked the Excise Department if retailers can receive tax rebates immediately after cutting the retail price on old inventory.
"We're caught in a vacuum. Consumers want cheaper products and so delay buying. Eventually, retailers may need to cut prices to boost sales. We're awaiting the Excise Department's answer," he said.
In a bid to increase sales, Thai air-conditioners will be showcased at Bangkok Refrigeration, Heating, Ventilation and Air-Conditioning 2009, to be held at Muang Thong Thani's Impact Arena from October 7-11 and which is expected to draw more than 150,000 visitors. This year's products will highlight green qualities.
Department of Export Promotion director-general Rachane Potjanasuntorn said the value of electrical and electronics exports this year would at best show flat growth of Bt1.7 trillion, thanks to an expected economic recovery later this year. The sector witnessed a 23-per-cent year-on-year drop in the first seven months.
"For a particular category, a Chinese air-conditioner retails for Bt8,000, against Bt20,000 for a Thai unit. This FTA will cause difficulties for domestic sales and exports to neighbouring countries," said Phairat Uechooyos, chairman of the Federation of Thai Industries' Air-Conditioning and Refrigeration Club.
Phairat said other Asean members would experience similar pressure, a result of China's huge production capacity.
China can produce 34 million air-conditioners a year, against 17 million for Thailand, Japan and South Korea combined.
The Asean-China FTA eliminated tariffs on 3,906 products in 2006 and will do so for another 2,660 items, including air-conditioners, next January.
To protect consumers and local companies, the government should impose standard requirements on Chinese products, Phairat said.
He said local companies were already suffering from lower sales, due to the global economic downturn. Exports of air-conditioners and refrigerators are expected to decline 20 per cent to Bt300 billion this year. Domestic sales of the units have remained flat, because local consumers are awaiting cheaper prices following waiving of the 17-per-cent excise tax. The Finance Ministry expects local prices to drop up to 10 per cent.
Phairat said despite abolishing the tax, it would be at least four months before retail prices could be cut, because 100,000 units on which Bt500 million in excise tax had already been paid must be sold first.
Manufacturers have asked the Excise Department if retailers can receive tax rebates immediately after cutting the retail price on old inventory.
"We're caught in a vacuum. Consumers want cheaper products and so delay buying. Eventually, retailers may need to cut prices to boost sales. We're awaiting the Excise Department's answer," he said.
In a bid to increase sales, Thai air-conditioners will be showcased at Bangkok Refrigeration, Heating, Ventilation and Air-Conditioning 2009, to be held at Muang Thong Thani's Impact Arena from October 7-11 and which is expected to draw more than 150,000 visitors. This year's products will highlight green qualities.
Department of Export Promotion director-general Rachane Potjanasuntorn said the value of electrical and electronics exports this year would at best show flat growth of Bt1.7 trillion, thanks to an expected economic recovery later this year. The sector witnessed a 23-per-cent year-on-year drop in the first seven months.
Tuesday, August 25, 2009
CABINET APPROVES EXCISE WAIVER
Consumers should be able to buy air-conditioners for 10 to 15 per cent less than current prices following the Cabinet's decision to approve a tax waiver, Deputy Finance Minister Pruttichai Damrongrat said yesterday.
Manufacturers said they were ready to bring their retail prices down immediately, but only by the full amount for newly produced equipment.
The Cabinet approved the Finance Ministry's proposal to waive excise duty on air-conditioners with a capacity below 72,000 British thermal units. After the 15-per-cent tax is waived, the retail price should fall by between 10 and 15 per cent, said Pruttichai.
He said this would relieve some of the burden on small and medium-sized enterprises and would help local businesses compete against some air-conditioning units brought into the country but evading the duty.
Somyos Kiratichivanant, managing director of Bitwise (Thailand), manufacturer and distributor of the Tasaki brand, said most manufacturers had a large level of old stock as sales had been slow due to the economic slowdown.
"However, consumers expect prices to be cut immediately. So, we may slash the prices of our old stock somewhat in order to have a psychological impact and be competitive," he said.
He said an old-stock air-conditioner currently priced Bt10,000 could be reduced to Bt9,000 to Bt9,500, but not to Bt8,500. The manufacturer would therefore still bear some loss.
"It will not however be possible for units that are old inventory to be reduced by as much as 15 per cent from their previous price tag," said Somyos.
He added that the company had a lot of stock for some of its Tasaki range and it could take until the end of the year to release it.
However, prices could be lowered for some models immediately.
Meanwhile, Finance Minister Korn Chatikavanij said the ministry had been unable to submit its draft property tax bill for Cabinet consideration this month.
He said the Fiscal Policy Office needed more time to gather public opinion from all interested parties, adding that private firms in the provinces also wanted to submit their own proposals to the ministry, said Korn.
He pledged to submit the draft law to the Cabinet soon. It would then take about two or three months for the government's legal advisory body, the Council of State, to review the draft.
Korn said the government may not therefore be able to submit the bill to Parliament in the current session.
He ruled out any change to the tentative tax rates already proposed.
According to the draft, residential units will be subject to an annual tax of 0.1 per cent of the property's value, while owners of land used for agricultural purposes will have to pay 0.05 per cent of the land's value and land for commercial use will be subject to a 0.1-per-cent tax.
Undeveloped land will be taxed at 0.5 per cent over the first three years, rising to a maximum of 2 per cent over the next six years.
Manufacturers said they were ready to bring their retail prices down immediately, but only by the full amount for newly produced equipment.
The Cabinet approved the Finance Ministry's proposal to waive excise duty on air-conditioners with a capacity below 72,000 British thermal units. After the 15-per-cent tax is waived, the retail price should fall by between 10 and 15 per cent, said Pruttichai.
He said this would relieve some of the burden on small and medium-sized enterprises and would help local businesses compete against some air-conditioning units brought into the country but evading the duty.
Somyos Kiratichivanant, managing director of Bitwise (Thailand), manufacturer and distributor of the Tasaki brand, said most manufacturers had a large level of old stock as sales had been slow due to the economic slowdown.
"However, consumers expect prices to be cut immediately. So, we may slash the prices of our old stock somewhat in order to have a psychological impact and be competitive," he said.
He said an old-stock air-conditioner currently priced Bt10,000 could be reduced to Bt9,000 to Bt9,500, but not to Bt8,500. The manufacturer would therefore still bear some loss.
"It will not however be possible for units that are old inventory to be reduced by as much as 15 per cent from their previous price tag," said Somyos.
He added that the company had a lot of stock for some of its Tasaki range and it could take until the end of the year to release it.
However, prices could be lowered for some models immediately.
Meanwhile, Finance Minister Korn Chatikavanij said the ministry had been unable to submit its draft property tax bill for Cabinet consideration this month.
He said the Fiscal Policy Office needed more time to gather public opinion from all interested parties, adding that private firms in the provinces also wanted to submit their own proposals to the ministry, said Korn.
He pledged to submit the draft law to the Cabinet soon. It would then take about two or three months for the government's legal advisory body, the Council of State, to review the draft.
Korn said the government may not therefore be able to submit the bill to Parliament in the current session.
He ruled out any change to the tentative tax rates already proposed.
According to the draft, residential units will be subject to an annual tax of 0.1 per cent of the property's value, while owners of land used for agricultural purposes will have to pay 0.05 per cent of the land's value and land for commercial use will be subject to a 0.1-per-cent tax.
Undeveloped land will be taxed at 0.5 per cent over the first three years, rising to a maximum of 2 per cent over the next six years.
Ill wind blows no good
Morakot was no Emerald; it was an ill wind that whipped up seas and cut or damaged six separated fibre-optic cables carrying Internet traffic to Thailand; the typhoon itself never hit Thailand, but while it killed an estimated 500 Taiwanese, Morakot caused deep-sea landslides that severed three cables and disrupted three others, including the SWM-3 (Southeast Asia - Middle East - Western Europe 3) and both APCN (Asia Pacific Cable Network) that carry Internet and telephone traffic to and from Thailand; the Net slowed noticeably, but picked up after a couple of days when engineers managed to quickly repair the APCN2 cable between Singapore and Malaysia, while traffic was re-routed to other systems.
The top three yuppiephone networks announced a convoluted "solution" to SMS spam, now estimated at nine million annoyances a day; starting next Monday, if you get an unwanted commercial message on your mobile phone, call your network's anti-spam centre, explained what happened, and they will try to block any other calls from the spammer - the AIS number to call is 1175, DTAC is 1678 and True Move is 1331, and the theory is that the 30-million-baht software they have installed and the highly trained staff they have hired will combine to block the spam across all three networks; Thana Thienachariya, chief commercial officer at DTAC, said blocking spam would cut revenue at all three yuppiephone firms, who have profited by selling SMS time in blocks to advertisers; in other words, he already knows where the calls are coming from.
Bangkok telephone provider True Corp and their yuppiephone subsidiary True Move began advertising "revolutionary" international phone rates of "only" three baht a minute to most-called countries; the rate, cheap at half the price, is about half what the telecoms duopoly of your TOT and your Cattelecom charge, but about twice the cost of the most popular long-distance specialists like DeeDial and ZayHi; the True rates only will last until New Year's Eve.
If corporate diversification is a sign that the recession is ending, then we got good news from Delta Electronics (Thailand); president Henry Shieh said the Taiwan-based electronics firm is about to acquire solar-power equipment makers in the US and Europe to get out of traditional electric sources and into larger technology areas; he bragged that, "Our cash on hand of over 8 billion baht also supports our investments," and while Thailand plants are running at only 65 percent capacity making fans and converters, profits in the second quarter were still a healthy 301 million baht.
Also upbeat: CEO Watchai Vilailuck of Samart Corp, who said business was looking up, with revenues increasing by 17 percent year on year in the second quarter to 4.44 billion baht; although profit remained stagnant at just under 125 million, Mr Watchai said he sees clear economic skies ahead, and expects to introduce 20 new yuppiephone handsets before New Year's Eve to feed what he is certain is growing demand in Malaysia, Indonesia, India, Bangladesh and Cambodia, as well as Thailand.
Not everyone was bragging and sunny; No 1 yuppiephone firm Advanced Info Service of Shingapore announced major changes at the very top of the firm's food chain to try to adjust to negative growth and increased competition; AIS tried to spin the changes as restructuring, but in fact the major changes were personnel; Singaporean Hui Weng Cheong was promoted from deputy president to the newly created position of chief operating officer, where he will take over marketing, customer management and handset distribution; president Wichian Mektrakarn was moved to CEO and the president's position was dissolved; AIS has recently realistically changed its revenue target from 4 percent growth to minus-3 percent, bizarrely blaming oil prices and the flu pandemic; chairman Somprasong Boonyachai said you should be ashamed of yourself for thinking the changes at the top were because of poor operating results, it's just all part of a careful, long-planned succession plan.
The company formerly known as Shin Satellite insisted it will break out of its habit of losses and break even this year, thanks to higher bandwidth sales from its iPSTAR broadband satellite; it's not all rosy for Thaicom, however; Tanadit Charoenchan, executive president of vice, revealed that, "We expect iPSTAR's bandwidth usage to reach 15 percent this year, up from 10 percent currently."
Then there is Grammy Entertainment, which reported no harm, no foul in its first-half results, a profit of 314.2 million baht on slightly increased revenue of 3.95 billion, boosted almost exclusively by TV programming, while music sales fell four per cent.
Finally, consider the case of bank employee Nawanit Noichana,; he posted a message on the Sanook.com forums soliciting readers to have sex with a certain Ms Som, and providing her real phone number; it was all a prank or something worse, because Ms Som was certainly not that kind of woman; the Criminal Court judge found him guilty under the Computer Crime Act, but then sentenced him to just 12 hours of community service and a one-year suspended imprisonment.
The top three yuppiephone networks announced a convoluted "solution" to SMS spam, now estimated at nine million annoyances a day; starting next Monday, if you get an unwanted commercial message on your mobile phone, call your network's anti-spam centre, explained what happened, and they will try to block any other calls from the spammer - the AIS number to call is 1175, DTAC is 1678 and True Move is 1331, and the theory is that the 30-million-baht software they have installed and the highly trained staff they have hired will combine to block the spam across all three networks; Thana Thienachariya, chief commercial officer at DTAC, said blocking spam would cut revenue at all three yuppiephone firms, who have profited by selling SMS time in blocks to advertisers; in other words, he already knows where the calls are coming from.
Bangkok telephone provider True Corp and their yuppiephone subsidiary True Move began advertising "revolutionary" international phone rates of "only" three baht a minute to most-called countries; the rate, cheap at half the price, is about half what the telecoms duopoly of your TOT and your Cattelecom charge, but about twice the cost of the most popular long-distance specialists like DeeDial and ZayHi; the True rates only will last until New Year's Eve.
If corporate diversification is a sign that the recession is ending, then we got good news from Delta Electronics (Thailand); president Henry Shieh said the Taiwan-based electronics firm is about to acquire solar-power equipment makers in the US and Europe to get out of traditional electric sources and into larger technology areas; he bragged that, "Our cash on hand of over 8 billion baht also supports our investments," and while Thailand plants are running at only 65 percent capacity making fans and converters, profits in the second quarter were still a healthy 301 million baht.
Also upbeat: CEO Watchai Vilailuck of Samart Corp, who said business was looking up, with revenues increasing by 17 percent year on year in the second quarter to 4.44 billion baht; although profit remained stagnant at just under 125 million, Mr Watchai said he sees clear economic skies ahead, and expects to introduce 20 new yuppiephone handsets before New Year's Eve to feed what he is certain is growing demand in Malaysia, Indonesia, India, Bangladesh and Cambodia, as well as Thailand.
Not everyone was bragging and sunny; No 1 yuppiephone firm Advanced Info Service of Shingapore announced major changes at the very top of the firm's food chain to try to adjust to negative growth and increased competition; AIS tried to spin the changes as restructuring, but in fact the major changes were personnel; Singaporean Hui Weng Cheong was promoted from deputy president to the newly created position of chief operating officer, where he will take over marketing, customer management and handset distribution; president Wichian Mektrakarn was moved to CEO and the president's position was dissolved; AIS has recently realistically changed its revenue target from 4 percent growth to minus-3 percent, bizarrely blaming oil prices and the flu pandemic; chairman Somprasong Boonyachai said you should be ashamed of yourself for thinking the changes at the top were because of poor operating results, it's just all part of a careful, long-planned succession plan.
The company formerly known as Shin Satellite insisted it will break out of its habit of losses and break even this year, thanks to higher bandwidth sales from its iPSTAR broadband satellite; it's not all rosy for Thaicom, however; Tanadit Charoenchan, executive president of vice, revealed that, "We expect iPSTAR's bandwidth usage to reach 15 percent this year, up from 10 percent currently."
Then there is Grammy Entertainment, which reported no harm, no foul in its first-half results, a profit of 314.2 million baht on slightly increased revenue of 3.95 billion, boosted almost exclusively by TV programming, while music sales fell four per cent.
Finally, consider the case of bank employee Nawanit Noichana,; he posted a message on the Sanook.com forums soliciting readers to have sex with a certain Ms Som, and providing her real phone number; it was all a prank or something worse, because Ms Som was certainly not that kind of woman; the Criminal Court judge found him guilty under the Computer Crime Act, but then sentenced him to just 12 hours of community service and a one-year suspended imprisonment.
Saturday, August 22, 2009
Panasonic rides 'Avatar' 3-D craze
Panasonic Corp has signed onTitanic director James Cameron and his upcoming film in an advertising blitz for its TVs equipped with 3-D technology,both sides said yesterday.
The deal between the major Japanese electronics maker and Twentieth Century Fox Film Corp's Avatar - the first major Hollywood 3-D release that's not animation - comes as competition heats up in flat-panel TVs that show threedimensional images, or stereoscopic vision.
To watch 3-D TVs, viewers must wear special glasses that block vision in one eye and then the other as the TVs switch rapidly between images for each eye to create an illusion of depth.
Panasonic is planning to start selling 3-D TVs next year. Rivals, including Sony Corp, which has its own movie division,and Samsung Electronics Co of South Korea have shown prototypes and may offer similar products.
The problem is the scarcity of content to view in 3-D. Sceptics say a number of Blu-ray discs of appealing 3-D movies must come out for 3-D TVs to catch on.
Several animation films are already being shown in theatres in 3-D, but Avatar , set for release on Dec 18, will be the first major non-animation film debuting worldwide in both 2-D and 3-D.
"I believe 3-D is how we will experience movies, gaming and computing in the near future.3-D is not something you watch. It's a reality you feel you could step into," Cameron said on video.
"Panasonic is hoping its collaboration with Cameron will give it an edge in brand image as a 3-D leader as well as in obtaining suggestions for technological improvements for home TVs," said general manager Masayuki Kozuka.
"We want to get global interest rolling,"he told the Associated Press."For people to want to watch 3-D at home, the movie has to be a blockbuster."
Panasonic plans to have several trailervans driving around in the US and Europe next month with large-screen 3-D TVs inside showing Avatar . In Japan, footage from "Avatar"-a science-fiction Pocahontas -like romance set in a futuristic jungle inhabited by creatures evoca-tive of Cameron's Aliens - will appear in ads for 3-D TVs.
Details on the 3-D Blu-ray release of Avatar for TVs have not been set.
The deal between the major Japanese electronics maker and Twentieth Century Fox Film Corp's Avatar - the first major Hollywood 3-D release that's not animation - comes as competition heats up in flat-panel TVs that show threedimensional images, or stereoscopic vision.
To watch 3-D TVs, viewers must wear special glasses that block vision in one eye and then the other as the TVs switch rapidly between images for each eye to create an illusion of depth.
Panasonic is planning to start selling 3-D TVs next year. Rivals, including Sony Corp, which has its own movie division,and Samsung Electronics Co of South Korea have shown prototypes and may offer similar products.
The problem is the scarcity of content to view in 3-D. Sceptics say a number of Blu-ray discs of appealing 3-D movies must come out for 3-D TVs to catch on.
Several animation films are already being shown in theatres in 3-D, but Avatar , set for release on Dec 18, will be the first major non-animation film debuting worldwide in both 2-D and 3-D.
"I believe 3-D is how we will experience movies, gaming and computing in the near future.3-D is not something you watch. It's a reality you feel you could step into," Cameron said on video.
"Panasonic is hoping its collaboration with Cameron will give it an edge in brand image as a 3-D leader as well as in obtaining suggestions for technological improvements for home TVs," said general manager Masayuki Kozuka.
"We want to get global interest rolling,"he told the Associated Press."For people to want to watch 3-D at home, the movie has to be a blockbuster."
Panasonic plans to have several trailervans driving around in the US and Europe next month with large-screen 3-D TVs inside showing Avatar . In Japan, footage from "Avatar"-a science-fiction Pocahontas -like romance set in a futuristic jungle inhabited by creatures evoca-tive of Cameron's Aliens - will appear in ads for 3-D TVs.
Details on the 3-D Blu-ray release of Avatar for TVs have not been set.
Thursday, August 20, 2009
CHINA'S TCL TO UPGRADE TV TECHNOLOGY AT THAT FACTORY
Leading Chinese electrical-appliance manufacturer TCL plans to upgrade its television-set production line in Thailand in a bid to use Bangkok as an export base to Asean.
Chief operating officer BoLianming said TCL would modernise the television technology in its Thai plant, in order to facilitate market access and boost sales within Asean. TCL now has a 20-per-cent market share in Southeast Asia.
TCL wants to use Thailand as a base for television assembly and export, especially to Asean markets.
"Despite the global economic crisis, Asean economies have turned in an outstanding performance. TCL will use the Thai plant to distribute products throughout Asean,"he said.
TCL began manufacturing in thailand in 2004 with the acquisition of television manufacturer Thompson. A subsidiary, TCL Electronic (Thailand),was set up to oversee local manufacturing and distribution.
Bo said the company's factory in China would remain its main manufacturing base.
TCL Optoelectronics Technology in Huizhou, located in the southern province of Guangdong.produces liquid-crystal-display(LCD)sets.
TCL plans to produce its own television panels soon. It now buys them from Sanyo and Sharp. Bo said gearing up for panel manufacturing would cost some US$3 billion (Bt102 billion).
"We're considering building a TV-panel plant in China, while the one in Thailand is more suitable for asembly and distribution to Asean markets," he said.
TCL also plans to produce 60-inch screens by year-end, expanding from its present largest size of 52 inches.
Meanwhille, Industry Minister Charnchai Chairungrueng said his ministry and the Board of Investment (BoI)had visited China to persuade TCL to upgrade its Thai production line in the near future, to produce a full range of LCD sets.
He said the Boi was prepared to exempt TCL from corporated income tax for eight years.
"TCL has expressed interest in this offer. We told them we wanted TCL to use Thailand as its main export base," Charnchai said.
The BoI will also open an office in Guangzhou province to attract Chinese firms to Thailand, he added.
Chief operating officer BoLianming said TCL would modernise the television technology in its Thai plant, in order to facilitate market access and boost sales within Asean. TCL now has a 20-per-cent market share in Southeast Asia.
TCL wants to use Thailand as a base for television assembly and export, especially to Asean markets.
"Despite the global economic crisis, Asean economies have turned in an outstanding performance. TCL will use the Thai plant to distribute products throughout Asean,"he said.
TCL began manufacturing in thailand in 2004 with the acquisition of television manufacturer Thompson. A subsidiary, TCL Electronic (Thailand),was set up to oversee local manufacturing and distribution.
Bo said the company's factory in China would remain its main manufacturing base.
TCL Optoelectronics Technology in Huizhou, located in the southern province of Guangdong.produces liquid-crystal-display(LCD)sets.
TCL plans to produce its own television panels soon. It now buys them from Sanyo and Sharp. Bo said gearing up for panel manufacturing would cost some US$3 billion (Bt102 billion).
"We're considering building a TV-panel plant in China, while the one in Thailand is more suitable for asembly and distribution to Asean markets," he said.
TCL also plans to produce 60-inch screens by year-end, expanding from its present largest size of 52 inches.
Meanwhille, Industry Minister Charnchai Chairungrueng said his ministry and the Board of Investment (BoI)had visited China to persuade TCL to upgrade its Thai production line in the near future, to produce a full range of LCD sets.
He said the Boi was prepared to exempt TCL from corporated income tax for eight years.
"TCL has expressed interest in this offer. We told them we wanted TCL to use Thailand as its main export base," Charnchai said.
The BoI will also open an office in Guangzhou province to attract Chinese firms to Thailand, he added.
SONY LAUNCHES CASH-FOR-TVs SCHEME IN UK
Japan's Sony on Wednesday launched a scheme in Britain to encourage cash-strapped consumers to swap old televisions fore new onews in a plan that mirrors worldwide car trade-initiatives.
Sony said in a statement that it would offer customers reductions of as much as 150 pound (Bt8,460) off the price of some of its new Bravia televisions in return for ageing models.
"Sony UK is introducing a new television trade-in initiative this Friday [today] whereby consumers can trade in their old television at participating Sony stockists in exchange for money off a new Bravia," it said in a statement.
"The new TV trade-in scheme from Sony makes it easier for consumers to dispose of old sets and receive money off a new Bravia."
The loss-making company has been badly hurt by the global economic downturn which has slashed worldwid demand for televisions and other electronic gadgets.
"The campaign itself offers customers the advantages of swapping old for new rather than simply throwing away, encouraging old televisions to responibly disposed of," added Sony UK spokesman Matt Coombe.
The TV scrappage plan follows the success of the British government's new for old car scheme.
Earlier this month, the government announced that British motorists had bought more than 150,000 new cars under its vehicle scrappage scheme, reaching the half-way mark in the plan to boost the troubled auto sector.
the scheme, which gives car buyers a 2,000 pound discount when they trade in a vehicle over 10 years old, was launched in April and mirrors schemes abroad.
Last month, Sony reported a net loss of 37.1 billion yen (Bt13.5 billion) for the fiscal first quarter through June, blaming the global economic downturn
Sony said in a statement that it would offer customers reductions of as much as 150 pound (Bt8,460) off the price of some of its new Bravia televisions in return for ageing models.
"Sony UK is introducing a new television trade-in initiative this Friday [today] whereby consumers can trade in their old television at participating Sony stockists in exchange for money off a new Bravia," it said in a statement.
"The new TV trade-in scheme from Sony makes it easier for consumers to dispose of old sets and receive money off a new Bravia."
The loss-making company has been badly hurt by the global economic downturn which has slashed worldwid demand for televisions and other electronic gadgets.
"The campaign itself offers customers the advantages of swapping old for new rather than simply throwing away, encouraging old televisions to responibly disposed of," added Sony UK spokesman Matt Coombe.
The TV scrappage plan follows the success of the British government's new for old car scheme.
Earlier this month, the government announced that British motorists had bought more than 150,000 new cars under its vehicle scrappage scheme, reaching the half-way mark in the plan to boost the troubled auto sector.
the scheme, which gives car buyers a 2,000 pound discount when they trade in a vehicle over 10 years old, was launched in April and mirrors schemes abroad.
Last month, Sony reported a net loss of 37.1 billion yen (Bt13.5 billion) for the fiscal first quarter through June, blaming the global economic downturn
Wednesday, August 19, 2009
TAX CUT ON LOCALLY MADE AIR-CONS GIVEN GREEN LIGHT AT PPP MEETING
The Public-Private Partnership (PPP) yesterday approved a tax waiver for locally manufactured air-conditioners with a capacity not exceeding 72,000 British thermal units, which will reduce prices by 10 per cent.
Deputy Finance Minister Pruttichai Damrongrat said the move was aimed at promoting competition, although the government would lose around Bt1.7 billion per year from the tax cut.
He said the lower prices should encourage people to opt to buy more locally made air-conditioners.
This means the government will gain more value-added tax to help offset the revenue loss.
Scrapping the tax has yet to be approved by the Cabinet.
The PPP, chaired by Prime Minister Abhisit Vejjajiva, also acknowledged proposals from the private sector to reduce or waive other taxes, ranging from individual and corporate income tax to property taxes.
The premier asked the Finance Ministry to work with agencies to consider the proposals on tax cuts and their impact.
Besides agreeing to the tax waiver for air-conditionerss, the meeting approved in principle proposals to help the construction industry, including measures to boost jobs and income distribution inthe sector.
A proposal for a two-year construction industry development plan was also approved.
A proposal for a two-year construction industry development plan was also approved.
The Finance Ministry will work on short-term measures, while the National Economic and Social Development Board will work out a long-term plan with state agencies.
Deputy Finance Minister Pruttichai Damrongrat said the move was aimed at promoting competition, although the government would lose around Bt1.7 billion per year from the tax cut.
He said the lower prices should encourage people to opt to buy more locally made air-conditioners.
This means the government will gain more value-added tax to help offset the revenue loss.
Scrapping the tax has yet to be approved by the Cabinet.
The PPP, chaired by Prime Minister Abhisit Vejjajiva, also acknowledged proposals from the private sector to reduce or waive other taxes, ranging from individual and corporate income tax to property taxes.
The premier asked the Finance Ministry to work with agencies to consider the proposals on tax cuts and their impact.
Besides agreeing to the tax waiver for air-conditionerss, the meeting approved in principle proposals to help the construction industry, including measures to boost jobs and income distribution inthe sector.
A proposal for a two-year construction industry development plan was also approved.
A proposal for a two-year construction industry development plan was also approved.
The Finance Ministry will work on short-term measures, while the National Economic and Social Development Board will work out a long-term plan with state agencies.
Monday, August 17, 2009
LG plans more after-sales service
LG Electronics (Thailand) aims to set up eight LG Mobile Brand shops in Bangkok within this year with a total budget of around Bt20 million to strengthen its brand image and after-sales service.
Somsak Athisaitrakul, Product Group Head (Mobile Communication) senior manager, said four shops were recently opened in major shopping malls. The others will be gradually opened by the end of this year to cover major areas in Bangkok. The shops feature the expericence zone and the service zone. The experience zone is where all the latest LG Mobils-phone models are available for customers to directly experience the products, while the service zone offers after-sales servies.
He added that the company's enhancement of after-sales service follows increase in sales of LG mobile phones.
Currently the company has nine major after-sales service centres and over 200 authorised service dealers nationwide.
Regarding the market competition, he said LG has mainly focused on competing with major international brands, not local brands.
The company plans to roll out between 12 to 15 new mobile-phone models in Thailand in the second half, almost the same number as in the first half. Most of the upcoming models will be in the mid-price and high-price ranges and with touch-screen feature.
Some local mobile-phone brands have gained high popularity among the Thai consumers, due to their rich features but affordabel prices.
Somsak Athisaitrakul, Product Group Head (Mobile Communication) senior manager, said four shops were recently opened in major shopping malls. The others will be gradually opened by the end of this year to cover major areas in Bangkok. The shops feature the expericence zone and the service zone. The experience zone is where all the latest LG Mobils-phone models are available for customers to directly experience the products, while the service zone offers after-sales servies.
He added that the company's enhancement of after-sales service follows increase in sales of LG mobile phones.
Currently the company has nine major after-sales service centres and over 200 authorised service dealers nationwide.
Regarding the market competition, he said LG has mainly focused on competing with major international brands, not local brands.
The company plans to roll out between 12 to 15 new mobile-phone models in Thailand in the second half, almost the same number as in the first half. Most of the upcoming models will be in the mid-price and high-price ranges and with touch-screen feature.
Some local mobile-phone brands have gained high popularity among the Thai consumers, due to their rich features but affordabel prices.
Hana resumes investment after impressive Q2 results
Hana Microelectronics Plc, the country's biggest semiconductor packager, has started investing again and taking on staff to meet rising orders after posting better-than-expected financial results in the second quarter.
About 350 million to 500 million baht will be spent on new production equipment later this year, mainly in the integrated circuit (IC) division. Hana is also looking to hire 600 new staff, said chief financial officer Terry Weir.
"Hana will invest and hire labour to build the products according to customer demand. Therefore, as the recovery takes place and new products are ordered by our customers, we will have to increase investment to be able to meet that demand in the second half of the year," he said.
The SET-listed electronic parts maker currently employs about 8,000 people and is running at about 80% of capacity.
Customer inventory replenishment and partial economic recovery enabled Hana to perform better in the second quarter than in the first three months,and to beat its own expectations for the first half, said Mr Weir.
In the second quarter, Hana's net profit of 504 million baht was down only 7.6% year-on-year and up 151%from 201 million baht in the first quarter.
First-half net profit was 705.44 million baht (0.86 baht a share), down 29% from 993.55 million (1.20 baht a share) a year earlier.
Second-quarter sales revenue dropped 18% year-on-year to 3.22 billion baht.But sales were up 22% from the first quarter, with IC sales up 46% while microelectronics rose 16%, Hana said in a filing to the Stock Exchange of Thailand.
"The first half of 2009 was much better than was expected at the beginning of the year, thanks to customer inventory replenishment and partial economic recovery," said Mr Weir."The large extent of demand recovery can be seen in second-quarter results.[But] continuing strength of customer demand remains a challenge for the rest of the year."
Analysts were upbeat about Hana's results.
"Hana's stellar earnings of 504 million baht in the second quarter, an increase of 151% from the first quarter, beat our expectation by 36.3% and the consensus by 34.3%," KGI Securities (Thailand) said in a report."A higher-than-expected gross margin was the reason for the surprise."
Sales also showed a significant recovery from rock bottom in the first quarter. The company's balance sheet was solid, being debt-free and with cashon-hand of about 3.7 billion baht, KGI said.
Shares of Hana closed on Friday on the SET at 18.50 baht, up 40 satang, in trade worth 6.8 million baht.
About 350 million to 500 million baht will be spent on new production equipment later this year, mainly in the integrated circuit (IC) division. Hana is also looking to hire 600 new staff, said chief financial officer Terry Weir.
"Hana will invest and hire labour to build the products according to customer demand. Therefore, as the recovery takes place and new products are ordered by our customers, we will have to increase investment to be able to meet that demand in the second half of the year," he said.
The SET-listed electronic parts maker currently employs about 8,000 people and is running at about 80% of capacity.
Customer inventory replenishment and partial economic recovery enabled Hana to perform better in the second quarter than in the first three months,and to beat its own expectations for the first half, said Mr Weir.
In the second quarter, Hana's net profit of 504 million baht was down only 7.6% year-on-year and up 151%from 201 million baht in the first quarter.
First-half net profit was 705.44 million baht (0.86 baht a share), down 29% from 993.55 million (1.20 baht a share) a year earlier.
Second-quarter sales revenue dropped 18% year-on-year to 3.22 billion baht.But sales were up 22% from the first quarter, with IC sales up 46% while microelectronics rose 16%, Hana said in a filing to the Stock Exchange of Thailand.
"The first half of 2009 was much better than was expected at the beginning of the year, thanks to customer inventory replenishment and partial economic recovery," said Mr Weir."The large extent of demand recovery can be seen in second-quarter results.[But] continuing strength of customer demand remains a challenge for the rest of the year."
Analysts were upbeat about Hana's results.
"Hana's stellar earnings of 504 million baht in the second quarter, an increase of 151% from the first quarter, beat our expectation by 36.3% and the consensus by 34.3%," KGI Securities (Thailand) said in a report."A higher-than-expected gross margin was the reason for the surprise."
Sales also showed a significant recovery from rock bottom in the first quarter. The company's balance sheet was solid, being debt-free and with cashon-hand of about 3.7 billion baht, KGI said.
Shares of Hana closed on Friday on the SET at 18.50 baht, up 40 satang, in trade worth 6.8 million baht.
Ex-Samsung boss escapes jail again
A Seoul court ruled yesterday that former Samsung chairman Lee Kunhee was guilty of breach of trust and handed him a suspended prison sentence in another legal blow to the tycoon.
The Seoul High Court sentenced Lee to three years in prison and fined him 110 billion won ($89.2 million) but he won't go to jail if he stays out of trouble for five years. The case centred on charges that Lee caused damage to a Samsung Group company by issuing a type of bond at below market prices.
The 67-year-old Lee, wearing a dark,pinstriped suit, listened quietly to the verdict and then left the courtroom. Samsung had no comment on the ruling and said there had been no decision on whether Lee would appeal.
Lee, one of South Korea's richest people, led Samsung for 20 years following the death of his father, the conglomerate's founder. He has faced a series of legal troubles the past two years and was convicted in 2008 on tax evasion charges and given a suspended prison term.
But the Supreme Court in May upheld lower court rulings that cleared him of alleged illegal financial dealings purportedly aimed at passing control of the business empire to his son.
Lee is a South Korean corporate icon who has personified Samsung. He is widely credited with turning Samsung Electronics Co into a respected global brand. But he resigned as chairman of the company, the conglomerate's flagship corporation, upon indictment for tax evasion and other charges in April 2008.
The Seoul High Court was hearing the breach of trust case for a second time after the Supreme Court in May ordered it to reconsider an earlier verdict.
Presiding Judge Kim Chang-suk said that Lee caused damage of 22.7 billion won to the group company, Samsung SDS, over the issuance of bonds with warrants at about half of their market price.
But he cited Lee's "considerable contribution to the development" of the company in handing down the suspended prison sentence.
He also said that Lee had paid back more than the amount of the damage caused to Samsung SDS, which specialises in system integration and other IT services.
Samsung Group comprises dozens of companies. Besides electronics, it has interests in shipbuilding, construction,insurance and leisure. Its companies account for a big slice of South Korea's exports.
Civic groups have dogged the conglomerate for years, claiming its opaque ownership structure based on crossshareholdings by group companies led to abuses and was meant to ensure the Lee family maintains control.
The verdict didn't bother investors.Shares in Samsung Electronics jumped 4.1% to 731,000. Samsung SDS is unlisted.
Lee was also convicted in 1996, along with other conglomerate chiefs, over presidential bribery. That conviction also resulted in a suspended prison sentence.
The Seoul High Court sentenced Lee to three years in prison and fined him 110 billion won ($89.2 million) but he won't go to jail if he stays out of trouble for five years. The case centred on charges that Lee caused damage to a Samsung Group company by issuing a type of bond at below market prices.
The 67-year-old Lee, wearing a dark,pinstriped suit, listened quietly to the verdict and then left the courtroom. Samsung had no comment on the ruling and said there had been no decision on whether Lee would appeal.
Lee, one of South Korea's richest people, led Samsung for 20 years following the death of his father, the conglomerate's founder. He has faced a series of legal troubles the past two years and was convicted in 2008 on tax evasion charges and given a suspended prison term.
But the Supreme Court in May upheld lower court rulings that cleared him of alleged illegal financial dealings purportedly aimed at passing control of the business empire to his son.
Lee is a South Korean corporate icon who has personified Samsung. He is widely credited with turning Samsung Electronics Co into a respected global brand. But he resigned as chairman of the company, the conglomerate's flagship corporation, upon indictment for tax evasion and other charges in April 2008.
The Seoul High Court was hearing the breach of trust case for a second time after the Supreme Court in May ordered it to reconsider an earlier verdict.
Presiding Judge Kim Chang-suk said that Lee caused damage of 22.7 billion won to the group company, Samsung SDS, over the issuance of bonds with warrants at about half of their market price.
But he cited Lee's "considerable contribution to the development" of the company in handing down the suspended prison sentence.
He also said that Lee had paid back more than the amount of the damage caused to Samsung SDS, which specialises in system integration and other IT services.
Samsung Group comprises dozens of companies. Besides electronics, it has interests in shipbuilding, construction,insurance and leisure. Its companies account for a big slice of South Korea's exports.
Civic groups have dogged the conglomerate for years, claiming its opaque ownership structure based on crossshareholdings by group companies led to abuses and was meant to ensure the Lee family maintains control.
The verdict didn't bother investors.Shares in Samsung Electronics jumped 4.1% to 731,000. Samsung SDS is unlisted.
Lee was also convicted in 1996, along with other conglomerate chiefs, over presidential bribery. That conviction also resulted in a suspended prison sentence.
Thursday, August 13, 2009
TOSHIBA SET TO JOIN RIVAL BLU-RAY CAMP
Having lost the video format war, Toshiba said yesterday it will make Blu-ray disc products and plans to join the once-rival camp, the Blu-ray Disc Association.
The Japanese electronics maker had backed another high-definition video format, the HD-DVD, but seceded defeat last year, saying it will give up making or developing HD-DVD products.
There had been some speculation Toshiba may skip making Blu-ray products and instead try to develop an even more sophisticated video technology.
But Toshiba said it is planning to introduce Blu-ray products such as players and personal computers. Details were to be announced later.
"In light of recent growth in digital devices supporting the Blu-ray format, combined with market demand from consumers and retailers alike, Toshiba has decided to join the BDA," it said, referring to the Blu-ray association.
The Blu-ray alliance, backed by Japanese rivals Sony, Panasonic and others, had been more successful in wooing Hollywood studios.
Some kind of decision from Toshiba had been expected ahead of the key year-end shopping season.
The move is reminiscent of Sony's strategy after its Betamax videotape standard lost to Panasonic's VHS in the 1980s. Sony ended up making VHS products.
The Blu-ray market could be too lucrative for Toshiba to pass up. The Japanese electronics maker racked up its biggest loss ever, 344 billion yen (Bt120.7 billion) in its last fiscal year, which ended in March.
Apart from home entertainment products, Toshiba is also a large market of PCs, in which Blu-ray drives are slowly supplanting DVD drives. Without Blu-ray drives, Toshiba laptops could have lost out to other manufacturers.
The Japanese electronics maker had backed another high-definition video format, the HD-DVD, but seceded defeat last year, saying it will give up making or developing HD-DVD products.
There had been some speculation Toshiba may skip making Blu-ray products and instead try to develop an even more sophisticated video technology.
But Toshiba said it is planning to introduce Blu-ray products such as players and personal computers. Details were to be announced later.
"In light of recent growth in digital devices supporting the Blu-ray format, combined with market demand from consumers and retailers alike, Toshiba has decided to join the BDA," it said, referring to the Blu-ray association.
The Blu-ray alliance, backed by Japanese rivals Sony, Panasonic and others, had been more successful in wooing Hollywood studios.
Some kind of decision from Toshiba had been expected ahead of the key year-end shopping season.
The move is reminiscent of Sony's strategy after its Betamax videotape standard lost to Panasonic's VHS in the 1980s. Sony ended up making VHS products.
The Blu-ray market could be too lucrative for Toshiba to pass up. The Japanese electronics maker racked up its biggest loss ever, 344 billion yen (Bt120.7 billion) in its last fiscal year, which ended in March.
Apart from home entertainment products, Toshiba is also a large market of PCs, in which Blu-ray drives are slowly supplanting DVD drives. Without Blu-ray drives, Toshiba laptops could have lost out to other manufacturers.
Speakerless sound system
While watching your favourite movie on a home theatre, how nice it would be if there were no big black speakers or tangles of wires to deal with. An innovative new gadget is helping to do away with the hassle of clunky speakers and messy wiring.
Developed at a university in the UK and adopted by the US Navy for sonar application and then de-restricted for commercial use, a new "smart material"can turn any flat surface into a speaker,according to FeONIC (SEA) managing director Eugene Sta Maria.
Using the highest power density magnetostrictive smart material that can provide wide bandwidth audio signals,FeONIC audio drives convert new and existing structures of commonly used resonant building materials into high quality loudspeakers using vibrations.
The structural surface acts as a powerful distributed mode (non-directional)speaker suitable for both audio reproduction and public address (PA) systems,meeting the EN60849 standard for acoustic quality in public places. The converted panels do not emit from a single point source, but exhibit a flatter, even distribution of sound across the entire surface.
The system works on almost every material including composite board,plaster, wood and glass as well as metal.The sound is immersive in specific areas ranging from 8 to 12 metres depending on power and material that reduces interference from outside factors.
The device is suitable for exhibitions,stadiums, buses, subway stations, trains,home and pro audio systems, shop fronts,buildings, boardroom tables, gardens,spas, sauna rooms, yachts - in fact,any place that needs a sound system without speakers getting in the way. It also requires less installation compared to traditional speakers such as those used in PA systems in hospitals.
It is also easy to maintain because there are no moving parts and it can be hidden in the wall which protects it from dust,making the lifespan three to five times longer than that of traditional speakers.
In the past, this audio system was quite expensive and more widely used in Europe, but from the beginning of this year the UK headquarters decided to assemble its products in China which has driven the price down by 30 to 40 percent which make it more affordable in Asean countries.
The company provides a range of consumer and industrial acoustic drives for mid-range installation and home theatre systems, providing a neat integrated yet speakerless environment without a reduction in sound quality.
On the go speaker: First in the world
Later this year, FeONIC will launch Soundbug 2, the world's first Bluetooth wireless technology speaker which can act as an "on the go speaker".
The new device will produce very good quality sound compared to other speakers in its size and class. It has a sleek design and comes with a six-hour battery. It can be used to sound enable surfaces where one would use a laptop or any portable device which supports Bluetooth technology.
The company is also in discussion with partners to package the SoundBug 2 with their existing products. Compatible products include laptops, netbooks and phones that have Bluetooth built in to establish an audio connection with the SoundBug 2. The price will be around 3,000 baht.
Creating new advertising paradigms
Stephen Riches, managing director of Synergise, one of FeONIC's customers and distributor in Thailand, added that the device can be utilised to make immersive advertising by combining digital media with elements of sound close to the users.
In the past, outdoor advertising was difficult because someone could steal speakers located outside and external noises could interfere with the adverting message.
"You can imagine that as you walk pass a big digital display or digital poster at the department store and there is a voice telling you of an interesting promotion which may attract customers to visit the store.
From an indoor perspective, it can be used as 'last mile advertising'. For instance, as someone opens a refrigerator to buy a soft drink a voice for promotion may change the consumer's mind to buy something else."
Singapore uses the system for advertising at bus stations, in the UK, the system has been installed in museums.
Developed at a university in the UK and adopted by the US Navy for sonar application and then de-restricted for commercial use, a new "smart material"can turn any flat surface into a speaker,according to FeONIC (SEA) managing director Eugene Sta Maria.
Using the highest power density magnetostrictive smart material that can provide wide bandwidth audio signals,FeONIC audio drives convert new and existing structures of commonly used resonant building materials into high quality loudspeakers using vibrations.
The structural surface acts as a powerful distributed mode (non-directional)speaker suitable for both audio reproduction and public address (PA) systems,meeting the EN60849 standard for acoustic quality in public places. The converted panels do not emit from a single point source, but exhibit a flatter, even distribution of sound across the entire surface.
The system works on almost every material including composite board,plaster, wood and glass as well as metal.The sound is immersive in specific areas ranging from 8 to 12 metres depending on power and material that reduces interference from outside factors.
The device is suitable for exhibitions,stadiums, buses, subway stations, trains,home and pro audio systems, shop fronts,buildings, boardroom tables, gardens,spas, sauna rooms, yachts - in fact,any place that needs a sound system without speakers getting in the way. It also requires less installation compared to traditional speakers such as those used in PA systems in hospitals.
It is also easy to maintain because there are no moving parts and it can be hidden in the wall which protects it from dust,making the lifespan three to five times longer than that of traditional speakers.
In the past, this audio system was quite expensive and more widely used in Europe, but from the beginning of this year the UK headquarters decided to assemble its products in China which has driven the price down by 30 to 40 percent which make it more affordable in Asean countries.
The company provides a range of consumer and industrial acoustic drives for mid-range installation and home theatre systems, providing a neat integrated yet speakerless environment without a reduction in sound quality.
On the go speaker: First in the world
Later this year, FeONIC will launch Soundbug 2, the world's first Bluetooth wireless technology speaker which can act as an "on the go speaker".
The new device will produce very good quality sound compared to other speakers in its size and class. It has a sleek design and comes with a six-hour battery. It can be used to sound enable surfaces where one would use a laptop or any portable device which supports Bluetooth technology.
The company is also in discussion with partners to package the SoundBug 2 with their existing products. Compatible products include laptops, netbooks and phones that have Bluetooth built in to establish an audio connection with the SoundBug 2. The price will be around 3,000 baht.
Creating new advertising paradigms
Stephen Riches, managing director of Synergise, one of FeONIC's customers and distributor in Thailand, added that the device can be utilised to make immersive advertising by combining digital media with elements of sound close to the users.
In the past, outdoor advertising was difficult because someone could steal speakers located outside and external noises could interfere with the adverting message.
"You can imagine that as you walk pass a big digital display or digital poster at the department store and there is a voice telling you of an interesting promotion which may attract customers to visit the store.
From an indoor perspective, it can be used as 'last mile advertising'. For instance, as someone opens a refrigerator to buy a soft drink a voice for promotion may change the consumer's mind to buy something else."
Singapore uses the system for advertising at bus stations, in the UK, the system has been installed in museums.
Subscribe to:
Posts (Atom)