Suphachai Chearavanont, Senior Vice Chairman of Charoen Pokphand Group (CPG), Chairman of True Corporation PCL (SET: TRUE), and CEO of Arise Ventures Group Co., Ltd., stated at Prachachat news’ “Thailand Next: The Successor, Bridging Generations for the Future” seminar that after Arise Digital Technology Co., Ltd., acquired 24.95% of TRUE, Arise has been positioned as the key player for building Thailand’s digital ecosystem.
Arise’s goal is to guide Thailand through the AI era’s disruption, which is far more intense and rapid than that of the Internet era—causing a greater structural economic impact than past major wars.
Arise leverages existing infrastructure—mobile networks, data centers, cloud, and AI—to create new opportunities and break down barriers to public access across five main areas:
- Quality Education—utilizing AI to improve equal access to high-quality education.
- Financial Inclusion—driving virtual banking services to combat informal lending and integrate grassroots groups into safe, wealth-building financial systems.
- Healthcare—developing AI to provide preliminary health consultations, supporting access to healthcare for over 70 million people nationwide.
- Synthetic Genetics—applying technology and genetic analytics for personalized wellness and consumer information.
- Computing Access—making next-gen technology and computing as accessible as the transition from bulky desktop computers to smartphones.
Within 3-5 years, the world will witness a new paradigm where every device and tool related to the economy and daily life leverages AI, and Arise Digital Technology is ready to be the main infrastructure driving Thailand forward.
Suphachai also provided an update on the Virtual Bank project, stating there are currently structural disagreements between the Bank of Thailand (BOT) and CP All Public Company Limited (SET: CPALL). The key issue concerns bringing three affiliated companies—Counter Service Co., Ltd., Thai Smart Card Co., Ltd., and CP Axtra Public Company Limited (SET: CPAXT)—under the banking group of ACM Holding Co., Ltd. (ACMH) within CPG, to support the Virtual Bank.
Recently, CPALL’s board resolved not to support the proposed consolidation of the three companies into this structure, while BOT prefers their inclusion to help expand access for retail customers and unbanked populations.
On June 29, CPALL shareholders will meet to consider whether to approve the merger of the three companies into the virtual bank structure. However, this is not expected to impact the main timeline for the project, which is ultimately subject to BOT’s final approval.
The virtual bank will be named Ascend Bank and is currently preparing its systems and operations. The official launch is projected for July 2026, subject to BOT approval.
