TrueVisions eyes Bt800m from shopping channel

The service is screened on TrueVisions channel 11 and operated by True GS, a joint-venture company registered with Bt240 million capital – 45 per cent from TrueVisions Group, 35 per cent from South Korea’s GS Shop, and the rest evenly shared by The Mall Group and CP All, the 7-Eleven operator.
GS Shop will handle the overall management of the television-shopping operators, while TrueVisions will handle the platform itself. The Mall Group will be in charge of product sourcing, while CP All is in charge of logistics.
Chief executive officer Paiboon Phoopat said that within the current quarter the company expected Bt100 million revenue from TrueSelect and Bt800 million next year. – The Nation

Park Inn coming
to Asia-Pacific

Carlson Companies, owner of the Radisson brand, plans to introduce Park Inn by Radisson hotels into the Asia-Pacific region and open more than 20 hotels under the brand by 2015 as part of a global expansion.
The group will sign an investment agreement in India this year for its first three-star brand, and will also focus on expanding the chain in the Philippines, said Simon Barlow, president of Carlson Hotels for the Asia-Pacific region. Carlson has also seen significant interest in Thailand and China in the Park Inn brand, and is open to discussions with investors in Australia, he said. – Bloomberg

New boss at
Ogilvy Thailand

Ogilvy & Mather Thailand has welcomed Phawit Chitrakorn as its new managing director.
Phawit had been a management partner of the creative powerhouse. After joining Ogilvy in 2003, he played a pivotal role in the development of work for such clients as Thai Life Insurance, Nature Gift coffee, Kasikornbank Group, Dutch Mill, Amway, Sponsor sport drink and CentralPlaza shopping complex. In his new position, he will continue his leadership role across the agency’s clients, drive new business growth and elevate digital to be an integral part of the business, the company said. – The Nation

PTT plans Bt20-bn bonds sales in Nov

PTT, Thailand’s biggest company, plans to sell Bt20 billion of bonds in November and will use the proceeds to repay debt, chief financial officer Tevin Vongvanich said yesterday. –Bloomberg

Asean+3 to sign rice stockpile pact

Japan, China, South Korea and Asean members will sign an accord on a joint rice stockpile Oct. 7 tomorrow in Jakarta as part of efforts to improve food security in the region.
The 13 countries will set aside a total of 787,000 tonnes of the staple and provide funds to manage the Asean+3 Emergency Rice Reserve, Indonesian Agriculture Minister Suswono said yesterday.
Indonesia will supply 12,000 tonnes of rice to the stockpile, which can only be used in emergencies such as natural disasters, Suswono said. – Bloomberg