PTTEP strikes more gas in Australia
PTT Exploration and Production (PTTEP) has found more natural gas in Australia, boosting its confidence to proceed with its floating liquefied natural gas project (FLNG) in Timor Sea.
President and CEO Anon Sirisaengtaksin yesterday said PTTEP Australasia, its wholly owned subsidiary, had found natural gas from the appraisal well Cash-2 in Cash-Maple field in AC/RL7 block in Australia. The Cash-2 well was drilled to a depth of 4,135 metres on August 15. Gas-flow tests were conducted in two zones at the recorded rates of 28 and 30 million standard cubic feet per day of natural gas with 737 and 663 barrels per day of condensate respectively. - The Nation
Ford eyes Indonesia
Ford Motor will offer eight new models in Indonesia over the next five years as it seeks to take advantage of rising vehicle sales in the world's fourth most populous nation and boost market share.
Ford plans to add four dealerships in Indonesia by the end of the year, for a total of 40, as well as adding models to grow market share from its current 1.9 per cent, PT Ford Motor Indonesia Managing Director Bagus Susanto said in an interview on September 16.
Ford's sales in Indonesia in the first eight months of 2011 rose 170 per cent from a year earlier to 10,681 units, driven partly by the Fiesta subcompact, which was introduced in November and accounted for about 40 per cent of vehicles sold, Susanto said. Expansion in Indonesia and across Asia is part of Ford chief executive officer Alan Mulally's wider plan to boost annual global sales by 50 per cent to 8 million vehicles by 2015.
Ford vehicles sold in Indonesia are built in Thailand, where the company secured Bt15.5 billion (US$506 million) worth of loans from three Thai financial institutions in July to fund a new passenger car manufacturing plant.
Indonesia is interesting for car manufacturing, Susanto said. However, we want to maximise our plant in Thailand. - Bloomberg
BioAmber picked
PTTMCC Biochem (PTTMCC), a joint venture between PTT and Mitsubishi Chemical, has selected BioAmber Inc as its partner for a polybutylene succinate (PBS) plant, construction of which will begin in Thailand in 2012.
BioAmber will build a bio-based succinic acid plant in Thailand and supply PTTMCC with bio-based succinic acid on an exclusive basis. Succinic acid is the principal starting material for the production of PBS, along with 1,4-butanediol.
PTTMCC plans to take an interest in BioAmber's succinic acid plant and secure off-take for a portion of the plant's capacity. The plant will be built in proximity to PTTMCC's PBS plant, and both plants are expected to come online in 2014. - The Nation
Boost for property
The cabinet has approved the first home purchase package submitted by the Ministry of Finance, which will allow a 10 per cent tax claim on the purchase cost of homes priced less than Bt5 million.
This will take effect from 22 Septmeber 2011 to 31 Decemeber 2012. The scheme should be a boost for the property sector, especially the mid-end market where unit prices range from Bt3 million to Bt5 million.
The CIMB research house expects more incentives to come, including zero-rate housing loans and possible cuts in transfer fees. - The Nation
HomePro Expo
Home Products Centre will hold its HomePro Expo at Impact Muang Thong Thani from October 14-25.
The event will offer discounts up to 80 per cent. - The Nation
