briefs

Thailand Post has launched an export-oriented service to ship goods weighing 20-200 kilograms or samples to clients overseas.

In a statement yesterday, the agency said the international shipment service would initially cover seven countries – the US, Australia, the UK, China, Switzerland, France and Japan.

Shipments are guaranteed to reach recipients within seven to 10 days while charges are levied according to weight and distance. 

The service is available at post offices in Greater Bangkok and upcountry in Udon Thani, Chiang Mai, Chiang Rai and Phuket. 

 

Export promotion campaign continues

The International Trade Promotion Department will organise the Thailand Best Friends project for the fourth straight year to build foreign buyers’ trust in Thailand.

Director-general Nuntawan Sakuntanaga said yesterday that more than 100 foreign buyers from around the globe would be invited to visit Thailand under the project this year.

The Thailand Best Friends project this year should impress buyers and create immediate sales orders of at least US$1 billion to $2 billion (Bt31 billion to Bt62 billion) for the country, he said.

The project should help ensure that Thailand achieves export growth of 15 per cent this year, he added. 

 

Asia Aviation gets on the bourse 

Asia Aviation will start trading on the Stock Exchange of Thailand tomorrow under the symbol “AAV”.

The company’s market capitalisation based on the initial public offering price of Bt3.7 per share is Bt17.95 billion.

Chanitr Charnchainarong, executive vice president of the SET, said yesterday that AAV would be included in the service, transport and logistics sector.

AAV is a holding company, with only a 55-per-cent stake in low-cost carrier Thai AirAsia, he said. 

Asia Aviation has paid-up registered capital of Bt485 million, with a par value of Bt0.10 per share. The IPO raised as much as Bt2.78 billion.

Tassapon Bijleveld, CEO of AAV, said that after the fund mobilisation, he would own 41.25 per cent, while Bovornovadep Devakula, Pornanan Gerdprasert, Preechaya Rasametanin and Tanapat Ngamplang would hold 7.50 per cent each of AAV. – The Nation

 

Baht wilts under Europe’s debt crisis

The baht dropped towards its weakest level in four months and government bonds fell as concern that Europe’s debt crisis will worsen dampened demand for emerging-market assets. 

Global funds sold US$525 million (Bt16.65 billion) more Thai equities than they bought in May, exchange data show, contributing to the baht’s 2.9-per-cent slump during the period. The BloombergJPMorgan Asia Dollar Index traded near this year’s low after the extra yield investors seek to hold Spain’s 10-year bonds over German notes soared to the highest level since 1995. – Bloomberg