Thursday, July 27, 2017
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Grab app now spots unsafe drivers

Posted by pakin On July - 26 - 2017 ADD COMMENTS

Ride-hailing service Grab on Tuesday incorporated telematics into its mobile application to automatically spot drivers behaving unsafely, such as speeding, swerving and hard braking and accelerating.

The feature uses predictive data analytics to identify unsafe behaviour and “educate” drivers about ways to improve through weekly telematics updates.

The launch across Southeast Asia follows a successful trial in Singapore, where it was rolled out in June.

Grab said in a press release that the feature has helped reduce driver speeding by 15 per cent, instances of hard braking by 11 per cent and instances of sudden hard acceleration by 18 per cent.

 

HONG KONG – It is a little disappointing that Hong Kong entrepreneurs and retailers do not take e-commerce and electronic payment seriously enough.

Since Alibaba’s Tmall online supermarket officially launched in Hong Kong on June 18 I have already placed five orders and spent more than 2,000 yuan (US$295, or HK$2,300) in total on some small household items, mostly snacks including beef jerky, chili paste and dairy products made on the Chinese mainland which I have enjoyed since I was a little girl.

Usually the package arrives the day after I place the order.

I came from the mainland and have been working and living in Hong Kong for nine years. Finding out that I can finally use my Alipay and buy the snacks I loved, and have them delivered to my doorstep, feels like a special holiday for me.

Then people would argue that Hong Kong already has the Octopus card, which is very convenient; any other payment method may not pay the bill as quickly and conveniently as Octopus. Besides introducing new payment channels may increase the burden on local retailers, particularly small ones.

One popular saying is that if there is real demand in the market, these things will happen naturally.

Under this philosophy, electronic payment systems in Hong Kong have lagged far behind the mainland’s. Apple Pay entered the Hong Kong market months after it started on the mainland, and only in the second half of last year, five major electronic payment operators — including Tencent’s WeChat Pay and Alibaba-backed Alipay — were granted licenses to operate multi-purpose, stored value mobile payment systems in Hong Kong.

One of my friends who recently moved from Beijing to Hong Kong told me she could not believe so many shops and restaurants only take cash, and people must pay cash for taxi rides. In Beijing, you can scan a QR code and pay with your mobile phone in the farmers market.

I’m wondering, when did Hong Kong start to take a back seat when it comes to innovation and trying new things?

When the Octopus fare collection system was officially launched in September 1997, it was one of the earliest forms of electronic money the world has ever seen, it was the same small and compact city as it is today, so what about the innovative spirit? Has it changed since then?

 

Police are yet to determine whether a pipe bomb found near the MRT’s Thailand Cultural Centre station yesterday was linked to three recent bomb blasts in the capital.

“If they are related, we will treat them as one case,” national police Commissioner Pol General Chakthip Chaijinda said yesterday.

The three recent blasts in Bangkok involved the use of pipe bombs. The first blew up in front of the Government Lottery Office on April 5 and the second in front of the National Theatre on May 15. They were minor explosions that did not cause much damage. The third pipe bomb, at the Phramongkutklao Hospital on May 22, left 25 people injured.

Chakthip said the area where the pipe bomb was found yesterday – in wasteland in Bangkok’s Huai Khwang district – was now cordoned off for related officials to gather evidence.

On Tuesday afternoon, a motorcycle taxi driver who went to fish in the area, alerted authorities when he noticed a steel pipe with some attached wires.

Police and an explosive ordnance disposal team arrived in the area at about 2pm and after examining the pipe for more than an hour left without giving any details.

 

CIMB Thai aims to become a high-performance mid-tier bank with annualised profit before tax of Bt15 billion within five years. As part of that effort, it is using digital banking to support new business areas.

Kittiphun Anutarasoti, president and chief executive officer of CIMBT, said the bank planned to make rapid transformations in order to improve productivity and efficiency and provide good experiences to customers.

The bank has divided the transformation project into three phrases. Phase 1, which will be carried out this year and next, is the rapid-transformation stage. The bank will focus on strengthening its foundations in various areas such as asset-quality management, operational processes and control, revenue acceleration, and capital optimisation.

“We are looking to outsource the transformation to ensure it starts off on the right foot,” Kittiphun said. “We will be leveraging the expertise of world-class consultants in|Phase 1.

“They will help to validate the transformation opportunities identified for the organisation, with a strong focus on execution and value creation for our shareholders, customers and employees.”

He added that the bank’s strategy this year would be to continue investing in new growth engines for the future such as digital banking to expand customer base and business base and maintain its competitiveness. It will also focus on improving portfolio asset quality, process efficiency and employee capabilities to respond efficiently to clients’ requirements and promote sustainable growth in its commercial banking operations.

The bank moreover will continue to focus on serving corporates with Asean aspirations, generating sustainable income flows and cross-selling for wholesale banking.

In Phase 2, planned for 2019-20, the bank will focus on building new capabilities and growth engines. It aims to accelerate and intensify its growth in key areas such as small and medium-sized enterprises, private banking and digital banking, which it believes offer huge opportunities to grow.

The final phase, in 2021-22, will be the bank’s final sprint towards achieving its aspiration to become an Asean-focused mid-tier bank in Thailand and complete the transformation project.

“We expect that the Thai economy will continue growing in 2017, albeit at a slow pace,” Kittiphun said. “The main growth engines for Thailand this year will be tourism and public investment, given the low-interest-rate environment.

“Meanwhile, Thailand’s banking industry is still one of the most attractive in Southeast Asia, with revenue pools expected to reach about US$60 billion [Bt2 trillion] by 2020.

“Thailand will continue to be a key strategic market for CIMB Group over the long term.”

He said CIMBT was expected to return to profitability by the end of this year and was targeting a return on equity of more than 6 per cent, loan growth including lending and money-market products of 5-10 per cent, and net interest margin of about 3.8 per cent.

 

 

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