briefs

Amata Corporation plans to raise its land-sales forecast for the second half of this year after hitting this year’s target of 3,000 rai in just the first two months. The company cited investors’ decisions to make non-flood-prone areas their top priority when investing in land.

Despite receiving the Vietnamese government’s permission to develop another industrial estate, Amata may review whether it would be worth investing in the project, as Hanoi is likely to scrap its tax incentives. It has expressed interest in investing in Dawei in Burma. – The Nation. 

 

Rice stockpiles swell

Global rice stockpiles are poised to become the largest in almost a decade as record harvests boost supplies and imports decline for the first time in three years. 

Inventories may gain 3 per cent to 100.1 million tonnes, the most since 2003, as global imports contract 7.5 per cent, the US Department of Agriculture says. The Thai export price, a global benchmark, may tumble as much as 11 per cent to US$500 a tonne in the first half, the lowest since last June year, the median of 11 trader and exporter estimates compiled by Bloomberg shows. – Bloomberg

 

KBank cuts rates

Kasikornbank said yesterday that it would cut deposit and loan rates by 0.12 percentage point effective today. After the cut, its savings rate will be 0.75 per cent, while its prime lending rate will be 7.13 per cent, it said in a statement. – Bloomberg