Latest news with #Thailand-based
Time of India
2 days ago
- Business
- Time of India
Welcure Drugs & Pharma secures export orders worth Rs 86 crore
Welcure Drugs & Pharmaceuticals on Tuesday said it has bagged two export orders worth Rs 85.6 crore from Giant Exim and Ravina International . On June 30, the company received a Rs 42.8 crore order each from Giant Exim and Ravina International for procurement and consolidation of mycorrhizal inoculant (EXW), a statement said. "The orders will contribute fee-based revenue , with no inventory or logistics risk to the company," it added. The company is in advanced discussions with additional international buyers for similar export sourcing mandates and expects to conclude further orders worth Rs 20 crore or more within the ongoing quarter, Welcure said. It recently secured a Rs 517 crore global sourcing mandate from Thailand-based Fortune Sagar Impex Company . Live Events "The company remains focused on expanding its fee-based export portfolio while maintaining its debt-free capital structure ," Welcure stated.
Bangkok Post
2 days ago
- Business
- Bangkok Post
PrimeStreet focuses on megatrends
As global markets teeter from geopolitical shocks, inflation and trade tensions, Thailand-based venture capital firm PrimeStreet Capital is focusing its investments on four global megatrends that hold ample future potential. While global investors grapple with persistent uncertainty, from US tariff hikes and geopolitical flashpoints to rising energy prices, PrimeStreet sees structural shifts that are too big to ignore, said Virit Vichitvadakan, co-founder and partner at PrimeStreet Capital. The fund's strategic focus is on four global megatrends that continue to reshape economies, consumer behaviour, and infrastructure worldwide. They are: healthcare and wellness; environment and infrastructure; impact technology; and food, water, and natural resources. "Crises often create the best entry points, but it's not just about buying cheap but rather about backing the right future. And megatrends are that future," Mr Virit said. In just two and a half years, the firm's Global Venture Capital fund has surged with seven times growth in net asset value and multiple on invested capital, delivering a 180% internal rate of return, well ahead of global venture benchmarks. Among the fund's standout investments is a biotech firm pioneering immune-based therapies for neurodegenerative diseases. The company is now in the final stage of US Food and Drug Administration approval for a new amyotrophic lateral sclerosis treatment, following promising results in clinical trials involving over 300 patients across the US, Europe, and Japan. The commercial potential is already attracting interest. Several Japanese pharmaceutical giants are reportedly in advanced talks to secure manufacturing and distribution rights, aiming to be first-to-market in Asia. For investors, the opportunity could unlock outsized returns in a sector traditionally known for decade-long timelines, noted Mr Virit. "We expect to begin returning capital to investors within 2-3 years and close the fund by year five or six. That is faster than most funds in this space and it aligns with our mission to deliver both financial and systemic returns," he noted. PrimeStreet's commitment is to bring global innovations home. The firm actively partners with Thai institutions and public health agencies to embed international breakthroughs into local development, helping to modernise healthcare and infrastructure in the region, Mr Virit added.
CNBC
2 days ago
- Business
- CNBC
As nations build 'sovereign AI,' open-source models and cloud computing can help, experts say
As artificial intelligence becomes more democratized, it is important for emerging economies to build their own "sovereign AI," panelists told CNBC's East Tech West conference in Bangkok, Thailand, on Friday. In general, sovereign AI refers to a nation's ability to control its own AI technologies, data and related infrastructure, ensuring strategic autonomy while meeting its unique priorities and security needs. However, this sovereignty has been lacking, according to panelist Kasima Tharnpipitchai, head of AI strategy at SCB 10X, the technology investment arm of Thailand-based SCBX Group. He noted that many of the world's most prominent large language models, operated by companies such as Anthropic and OpenAI, are based on the English language. "The way you think, the way you interact with the world, the way you are when you speak another language can be very different," Tharnpipitchai said. It is, therefore, important for countries to take ownership of their AI systems, developing technology for specific languages, cultures, and countries, rather than just translating over English-based models. Panelists agreed that the digitally savvy ASEAN region, with a total population of nearly 700 million people, is particularly well positioned to build its sovereign AI. People under the age of 35 make up around 61% of the population, and about 125,000 new users gain access to the internet daily. Given this context, Jeff Johnson, managing director of ASEAN at Amazon Web Services, said, "I think it's really important, and we're really focused on how we can really democratize access to cloud and AI." According to panelists, one key way that countries can build up their sovereign AI environments is through the use of open-source AI models. "There is plenty of amazing talent here in Southeast Asia and in Thailand, especially. To have that captured in a way that isn't publicly accessible or ecosystem developing would feel like a shame," said SCB 10X's Tharnpipitchai. Doing open-source is a way to create a "collective energy" to help Thailand better compete in AI and push sovereignty in a way that is beneficial for the entire country, he added. Open-source generally refers to software in which the source code is made freely available, allowing anyone to view, modify and redistribute it. LLM players, such as China's DeepSeek and Meta's Llama, advertise their models as open-source, albeit with some restrictions. The emergence of more open-source models offers companies and governments more options compared to relying on a few closed models, according to Cecily Ng, vice president and general manager of ASEAN & Greater China at software vendor Databricks. AI experts have previously told CNBC that open-source AI has helped China boost AI adoption, better develop its AI ecosystem and compete with the U.S. Prem Pavan, vice president and general manager of Southeast Asia and Korea at Red Hat, said that the localization of AI had been focused on language until recently. Having sovereign access to AI models powered by local hardware and computing is more important today, he added. Panelists said that for emerging countries like Thailand, AI localization can be offered by cloud computing companies with domestic operations. These include global hyperscalers such as AWS, Microsoft Azure and Tencent Cloud, and sovereign players like AIS Cloud and True IDC. "We're here in Thailand and across Southeast Asia to support all industries, all businesses of all shapes and sizes, from the smallest startup to the largest enterprise," said AWS's Johnson. He added that the economic model of the company's cloud services makes it easy to "pay for what you use," thus lowering the barriers to entry and making it very easy to build models and applications. In April, the U.N. Trade and Development Agency said in a report that AI was projected to reach $4.8 trillion in market value by 2033. However, it warned that the technology's benefits remain highly concentrated, with nations at risk of lagging behind. Among UNCTAD's recommendations to the international community for driving inclusive growth was shared AI infrastructure, the use of open-source AI models and initiatives to share AI knowledge and resources.
Nikkei Asia
25-06-2025
- Business
- Nikkei Asia
ASEAN is no longer a passive recipient of global investment capital
Malaysian Prime Minister Anwar Ibrahim delivers his speech as he officiates the ASEAN Investments Conference in Kuala Lumpur, Malaysia April 8, 2025. © Reuters Dai Kadomae, CFA, CPA, is a Thailand-based strategic finance adviser and former CFO with 25+ years of cross-border M&A and capital market experience. Capital has been quietly flowing out of Southeast Asia. In 2024 alone, the region's five key emerging economies -- Indonesia, Vietnam, Thailand, Malaysia and the Philippines (sometimes collectively referred to as ASEAN-5) -- recorded net financial account outflows exceeding $4 billion, marking a structural break from nearly a decade of steady inflows. Since 2017, these ASEAN-5 economies have experienced a persistent decline in portfolio investment, based on balance of payments data from central banks and International Monetary Fund reports. Meanwhile, their once-resilient current account surpluses have begun to erode in the wake of COVID-19, exposing them to growing liquidity stress -- amplified by the Trump administration's stop-start trade policies.
Time of India
18-06-2025
- Business
- Time of India
Welcure Drugs & Pharmaceuticals signs Rs 517 crore supply mandate with Thailand firm
Welcure Drugs & Pharmaceuticals on Wednesday said it has executed a definitive mandate for third-party sourcing and procurement services aggregating to Rs 517 crore with Thailand-based Fortune Sagar Impex Company . Welcure Drugs & Pharmaceuticals Ltd will engage in sourcing and procurement of multiple finished-dosage SKUs, the company stated in an exchange filing. Built on a fee-based model, the company will earn a fixed 5 per cent commission on the cost of goods, the filing stated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More The estimated service income of Rs 25.85 crore is expected for FY 2025-26, substantially adding to Welcure's revenue. The mandate enhances Welcure's fee-based portfolio without incremental balance-sheet exposure, making this a high-margin growth opportunity for the company, the filing stated. Live Events The Thailand-based firm will be responsible for packaging, labelling, containerisation, insurance, freight and all destination-country regulatory clearances. Shares of the company rose by 5 per cent to hit the upper limit at Rs 13.74 after the announcement.
