Briefs

Nazir Razak, chief executive of Malaysia-based CIMB Group, said in Kuala Lumpur that the bank had made a contingency plan for flooding in Bangkok, which is expected to peak in the next few days.
He said CIMB Pattaya was prepared to become a temporary headquarters for CIMB Thai.
The flooding could affect the bank’s regional information-technology plan under which Thailand is to be the first to launch the service in the first quarter of next year. CIMB has about 300 experts working on the new regional IT system out of Bangkok.
Nazir said CIMB had contingency plans against natural disasters wherever it operates as part of general business practice.


Radio updates start

MCOT is joining forces with the Prime Minister’s Office and the Interior Ministry to launch special programmes on its radio network for flood relief in Bangkok.
Acting president and executive vice president Sura Gaintanasilp said FM 100.5 would report Thai News Agency updates on the flood situation in Bangkok and surrounding areas around the clock. The radio station will also open its hotline to receive complaints from flood victims as well as donations for flood relief.
Meanwhile, MCOT is offering a talk programme on FM 96.5. Moderators will talk with professionals and academics to seek the best solutions for the flood crisis.
These programmes were to start yesterday.

GSB lucky draws

Government Savings Bank plans to issue premium savings certificates, and 1 per cent of proceeds from their sale will be allocated to flood relief. They will also get their principal back in two years, but no interest.
Lersak Chuladesa, president and chief executive officer of GSB, said the bank was also planning to raise money for flood relief through a monthly lucky draw beginning early next year.
The lucky draws will take place every month from February next year to January 2013, for a total of 24 months. The first prize will be worth as much as Bt500,000.
Second prize, with four winners in each draw, will be Bt30,000; 10 third-prize winners will get Bt15,000, and 30 fourth-prize winners will receive Bt5,000 each. There is also a fifth prize, with 50 winner getting Bt2,500 each.
Lucky-draw tickets will cost Bt40 each and will be available at GSB branches nationwide from this Monday through December 30.

Posco takes over Thainox

Posco, the world’s fourth-largest steelmaker, has succeeded with its takeover bid for Thainox Stainless, with its stake in the Thai company rising to 94.93 per cent.
The tender offer was launched on September 20 after the Korean company acquired about 60 per cent of the firm owned by Prayudh Mahagitsiri and his family.
In a statement to the Stock Exchange of Thailand, Posco said that of the total 6.6 billion shares tendered shares, shareholders with 6.2 billion shares showed interest in selling. Altogether, Posco now holds 7.4 billion shares or 94.93 per cent in Thainox.