Asia Biomass banking on shift to greener strategy

Asia's Tech News Daily

Growing concern over greenhouse gas emissions and a business diversification plan are expected to benefit Asia Biomass Plc (ABM), Thailand's largest biomass fuel trader and producer, as its revenue is projected to double to 5 billion baht within five years.

Revenue is expected to grow by 28% to 2.5 billion baht this year, up from 1.94 billion in 2020.

Tiyada Kuansataporn, managing director of ABM, said the bright business prospects are based on prices and supply of coal used in the power generation and industrial sectors.

She said operators are concerned about a decline in coal over the next several years and are shifting to biomass fuel, in line with global efforts to reduce greenhouse gas emissions.

Coal prices are increasing as demand in Southeast Asia remains high, but new mining is declining globally as financial institutions are not granting loans for new development, said Pongtham Danwungderm, deputy managing director of ABM.

Ms Tiyada said the company, which specialises in supplying biomass fuel, is diversifying into tapioca and crude palm oil in order to earn more revenue.

This will not require huge capital spending for a new business infrastructure, she said.

Mr Pongtham said the company allocated capital spending worth almost 20 million baht for many projects, including maintenance of biomass production facilities and increased production efficiency at its facilities in Rayong and Samut Sakhon.

He said ABM also started a new business to supply the first shipment of tapioca last month.

The company expects its new business will generate 500 million baht in revenue next year.

From January to September this year, revenue rose by 31% to 1.44 billion baht, up from 1.1 billion in the same period last year.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Wagamama owner warns bounce-back in consumer confidence after Plan B may take a while

The Restaurant Group revealed how its sales recovery was dampened by the restrictions and welcomed the announcement that they would be lifted. Read more »

Netflix gets hit on Wall Street after disappointing growth figures

Photo: ANP Netflix dropped significantly on Wall Street on Friday. Investors were unhappy about the disappointing number of new subscribers to the video streaming service. At 8.3 million, that fell ... Read more »

Spied by the boss: employers are violating privacy with CCTV

Employers simply misuse surveillance cameras to monitor employees. This is evident from conversations with 23 employees who were monitored by their boss and from dozens of complaints that are submitted ... Read more »

Think your home value is soaring? Talk to a farmer

The Associated PressThis 2018 photo shows Jeff Frank on his farm near Auburn, Iowa. Frank doesn’t feel rich, but simply based on the skyrocketing value of his land in northwest ... Read more »

Brewers are already busy being able to provide the catering industry with beer again

Photo: ANP Brewers are already busy providing the catering industry with beer again quickly. According to trade association Nederlandse Brouwers, preparations for the reopening of cafes and restaurants are in ... Read more »

Nippon India Mutual Fund files for artificial intelligence fund

Mutual funds have been filing thematic schemes that give investors exposure to futuristic technologies Nippon India Mutual Fund (NIMF) has filed for an artificial intelligence fund of fund with the ... Read more »

China's zero-Covid policy now looks like a 'burden' and it needs to reassess, IMF says

The International Monetary Fund's managing director said Friday that China's zero-Covid policy is increasingly looking like a “burden,” which is impinging economic recovery both domestically and for the world at ... Read more »

Will 40 years of house price inflation see Brits turn their backs on buying homes?

UK households are feeling the squeeze from high rents and rapid house price growth, but the pandemic has dampened demand in London. Read more »

PTC India sets up internal probe committee for NBFC arm; questions intent of independent director's resignation

PTC India said on January 21 that it has set up an internal committee to investigate the allegations made by three independent directors of its subsidiary PTC India Financial Services, ... Read more »

COVID-19: Wetherspoons chief 'breakdancing round the living room' as Plan B rules ease

The pub chain's chairman made the comments at the same time as a number of businesses reported signs of recovery following a hit to trading caused by the Omicron variant and measures designed to tackle it. Read more »

Warren Buffett's MidAmerican Energy plans $3.9 billion renewables project in Iowa  

This image from 2016 shows a wind turbine on property used by MidAmerican Energy's Eclipse Wind Farm in Adair, Iowa.Daniel Acker | Bloomberg | Getty Images A subsidiary of Warren ... Read more »

Google appeals against European billion-dollar fine Google Shopping

Photo: ANP Tech group Google has appealed against a billion-dollar fine from the European Commission. This imposed on the regulator for favoring its own price comparison service Google Shopping. Google ... Read more »

UK battery sites 'difficult to find'

Read more »

'A lot of consumers aren't ready to go cashless yet'

Read more »

Horror show for Netflix as shares plunge by a fifth after customer numbers fall short

The streaming giant added 18 million subscribers last year, half the level of 2020, and warned of a slower pace of growth over coming months than analysts had been expecting. Read more »

Pension scandal: Long-term underpayment of thousands is a 'shameful shambles', says group of MPs

The DWP estimates it has underpaid 134,000 pensioners, mostly women, over £1bn of their state pension entitlement, with some errors dating as far back as 1985. Read more »

Train announcements: Grant Shapps to scrap 'endless torrent' of messages in 'bonfire of the banalities'

Campaigners have voiced concerns the changes may negatively impact disabled people, as the Transport Secretary says he wants passengers to have more "peaceful" journeys. Read more »

Climate change: Shell carbon capture facility 'secures just 48% of hydrogen production emissions'

Emissions at one of the only sites in the world that uses carbon capture and storage alongside hydrogen production raises questions about so-called ‘blue hydrogen’, according to a new report. Read more »

RIL Q3 Result | Profit climbs 42% YoY to Rs 18,549 crore, revenue grows to Rs 1,91,271 crore

Reliance Industries Ltd (File image) Billionaire Mukesh Ambani owned, oil to chemical, telecom and retail conglomerate, Reliance Industries, on January 21 reported a consolidated profit after tax (PAT) of Rs 18,549 crore ... Read more »

Net zero targets could cause more unrest and division than Brexit, Tory MP warns

The government has promised a range of support for things like insulation and replacing gas boilers with heat pumps, and it has not ruled out tax rises or reduced public spending - but it simply cannot pay for everything. Read more »

Consumers' association: variable energy rates often untraceable

Photo: ANP So-called model contracts, a kind of standard indefinite deals with variable rates, are difficult to find on the websites of a significant part of the energy companies. That ... Read more »

Automakers and tech companies push Nikkei down

Photo: ANP The Tokyo stock exchange closed with a heavy loss on Friday. Automakers and tech companies, in particular, were sold in the wake of the ongoing loss streak on ... Read more »

ACM: higher rates at Schiphol will come into effect on April 1 for the time being

Photo: ANP The rates at Schiphol Airport will simply be increased as of 1 April, even if complaints procedures are still pending at that time against the decision to increase ... Read more »

IEA warns of potentially volatile year for oil market

The oil market could face another volatile year but demand is surging higher as the sector has weathered the impact of the Omicron coronavirus variant, the International Energy Agency said ... Read more »

French rail giant Alstom to hire 7,500 worldwide

French rail giant Alstom announced Friday it plans to hire 7,500 people worldwide this year to meet rising demand and record orders totalling 77.8 billion euros at the end of ... Read more »

Worst Christmas on record for retailers as sales slump by 3.7%

The month-on-month fall was the biggest since January and the worst for the festive period on records going back to 1996. A fall in demand for petrol and diesel, due to more people working from home under Plan B rules, also contributed to the slump. Read more »

PVR Standalone December 2021 Net Sales at Rs 546.94 crore, up 1302.05% Y-o-Y

Reported Standalone quarterly numbers for PVR are: Net Sales at Rs 546.94 crore in December 2021 up 1302.05% from Rs. 39.01 crore in December 2020. Quarterly Net Loss at Rs. ... Read more »

New lending rules: Woman 'strongly advised' by mortgage broker to hide pregnancy

A Dunedin woman says she was “strongly advised” by her mortgage broker to hide her pregnancy during a meeting with a bank last year. While it was before the Government’s ... Read more »

Tesla driver charged with vehicular manslaughter in fatal Autopilot crash

Kevin George Aziz Riad, 27, is likely the first motorist to be accused of a felony in the United States after a fatal accident while using a partially automated driving system Read more »

Big banks are making more — but they're spending more, too

Banks are already paying billions of dollars to retain their workers — and analysts say the Federal Reserve’s inflation-fighting activities will exert even more pressure on banks this year. Read more »

University presidents apologise for angering high schoolers Answers on entrance exam Facebook forum about Covid-19 and exam eligibility deemed insensitive

Students prepare for university entrance exams at the Secondary Demonstration School of Srinakharinwirot University on Feb 22, 2020. (Photo: Wichan Charoenkiatpakul) The Council of University Presidents of Thailand (CUPT) on ... Read more »

Peloton shares up after CEO says it must 'right-size' production levels, consider layoffs

A Peloton BikeShannon Stapleton | Reuters Peloton shares are up more than 5% in trading Friday after the company said it's resetting its production levels and considering layoffs in order ... Read more »

Bitcoin prices tumble 9.6%

On January 20, the Bank of Russia informed about plans to ban issuing, mining and circulation of cryptocurrencies on the territory of Russia Read more »

Stocks making the biggest moves premarket: Schlumberger, Netflix, CSX and others

Check out the companies making headlines before the bell: Schlumberger (SLB) – The oilfield services company's stock rose 1% in the premarket after it beat top and bottom-line estimates for ... Read more »

Denunciation of tax convention with Switzerland not expected — official

In 2020, the Russian president ordered to impose the 15% tax on income in the form of dividends and interest transferred to accounts overseas Read more »

Hong Kong's banking talent shortage worsened by zero-Covid rules must be urgently addressed, industry association says

Hong Kong’s banks face a severe talent shortage and staffing problem, as stringent quarantine and travel rules in a relentless pursuit of the city’s zero-Covid policy has deterred visitors and ... Read more »

Nord Stream 2 AG endeavors to comply with EU rules

The company made no comment on potential consequences of possible new sanction efforts of the US Read more »

Uniper expects completion of Nord Stream 2 certification in summer 2022

Construction of the gas pipeline ended in last September Read more »

China criticizes US missile sanctions as hypocrisy

BEIJING — China on Friday criticized Washington for imposing sanctions on Chinese companies the U.S. says exported missile technology and accused the United States of hypocrisy for selling nuclear-capable cruise ... Read more »

Evergrande crisis: Chinese developer hiring more legal advisers to tackle debt

China Evergrande Group said it was hiring more financial and legal advisers to deal with creditors’ demands, after a group of offshore bondholders warned of enforcement action, taking it a ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic