Connect with us

Business

King Power bags duty free contract at Thailand’s four major airports

King Power Duty Free Company won the contracts to operate duty free shops at Suvarnabhumi International, Phuket, Chiang Mai and Hat Yai airports

Published

on

The board of Airports of Thailand (AOT) today endorsed the bid committee’s decision to award the contracts to operate duty free shops at Suvarnabhumi International, Phuket, Chiang Mai and Hat Yai airports, and to manage commercial areas at Suvarnabhumi International airport, to King Power Duty Free Company.

AOT managing director Mr. Nitinai Sirismatthakarn said today that King Power Duty Free Company offered AOT minimum returns amounting to 15.4 billion baht (excluding VAT) to operate duty free shops at Suvarnabhumi for ten years and six months from September 28th, 2020 until March 31st, 2031.

King Power also offered 2.331 billion baht (excluding VAT) to operate duty free shops at the three provincial airports for the same period, while the other same two bidders offered 2.012 billion baht and 2.108 billion baht respectively.

King Power wins Duty Free auction for three regional airports
King Power scored 94.30 points, outbidding the two other bidders, a joint venture between Bangkok Airways and Lotte Duty Free

King Power scored 94.30 points, outbidding the two other bidders, a joint venture between Bangkok Airways and Lotte Duty Free which offered minimum returns of 8.5 billion baht and Royal Orchid hotel group which offered minimum returns of 7.25 billion baht.

Regarding the commercial areas at Suvarnabhumi international airport, King Power offered minimum returns of 5.79 billion baht on the condition that the retail prices of food and drinks must be capped at 20% above market prices to prevent profiteering.

The other bidder, Central Pattana, offered minimum returns of about 3 billion baht.

Source link

Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

Published

on

BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

(more…)
Continue Reading

Business

Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

Published

on

The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,159 other subscribers

Wise

Recent