Briefs

Deputy Prime Minister Kittiratt Na-Ranong will use an upcoming World Trade Organisation meeting as a platform for restoring confidence in Thailand after the flooding caused concerns over the global supply chain. 

In a statement, Kittiratt said he would present the government’s post-flood rehabilitation measures and economic recovery strategies to representatives of 153 countries “to restore confidence of investors and trade partners after concerns from some countries that the supply-chain disruptions are affecting global manufacturing and may raise global food prices”. 

Kittiratt will attend the WTO’s eighth Ministerial Conference in Geneva, Switzerland, from Thursday to Saturday. Three working sessions will be held with the themes “Importance of the Multilateral Trading System and the WTO”, “Trade and Development” and “Doha Development Agenda”.

 

Hydrotek sells all 30m IPO shares

Hydrotek saw 1,405 investors subscribe to all of its 30 million initial public offering (IPO) shares. Of the investors, 1,392 are local and the remainder foreign, according to lead underwriter Finansia Syrus Securities.

The company made its shares available for subscription from December 6-8 at a price of Bt3.39 apiece. It will start trading shares on the Market for Alternative Investment on  December 15.

Hydro provides environmental-engineering services for tap-water production systems, seawater desalination and wastewater treatment. 

The company plans to spend the proceeds from the listing on business expansion. It earned revenue of Bt492.89 million during the first nine months of this year and net profit of Bt35.42 million. Last year its revenue stood at Bt280.53 million and net profit at Bt18.84 million.