The Foreign Trade Department will lead a mission to Cambodia from August 14-17 aimed at doubling trade and investment between the two neighbours. Thai companies will have the chance to seek closer cooperation with counterparts in Phnom Penh, Battambang and Siem Reap.
In the first four months of this year, two-way trade jumped 60 per cent to US$44.32 billion (Bt1.4 trillion), of which exports from Thailand soared 60.6 per cent to $41.16 billion, while imports from Cambodia surged 52.9 per cent to $3.16 billion. Products from Thailand with export potential are oil, sugar, electrical machinery and motors.
Gaysorn campaign
Gaysorn Shopping Centre, in partnership with prestigious brands, plans to spend more than Bt1 billion to secure its place as a world-class luxury and lifestyle destination.
LVMH Group and various international brands have been enlisted jointly to redefine shopping under "Streetfront Multiple Flagship Concepts" that will be introduced one after another starting today.
After the revolution, traffic is expected to double to 89 million visitors per year, Charn Srivikorn, chairman of Gaysorn Land Asset Management, said yesterday.
KTC seeks new accounts
Krungthai Card targets 100,000 new credit-card accounts in the current second half, after an increase of 145,000 in the first six months of the year.
After welcoming 97,000 new personal loan accounts, it also aims for 100,000 more accounts in the second half, with the main focus on those earning Bt10,000 or more a month.
Nutchanun Kengluecha, executive vice president for distribution, said yesterday that the business would be grown by direct sales through Krung Thai Bank, KTC Touch service centres, online channels, and co-issuance with the Government Savings Bank.
Since credit-card circulation is near saturation, KTC aims more at boosting transactions per card than on the number of cards, which has reached 1.6 million.
Ratch-Australia sells stake in power plant
Ratchaburi Electricity Generating Holding (RATCH) announced yesterday that Ratch-Australia Corporation (RAC) had transferred its 14.03-per-cent stake in Loy Yang A, a coal-fired power plant in Australia, to AGL Energy, a major shareholder of the plant. RAC realised 120 million Australian dollars from the transaction, equivalent to Bt3.9 billion.
Company CEO Noppol Milinthanggoon said that since June 29, RAC had received Bt3.9 billion payment consisting of A$20 million cash (equivalent to about Bt650 million) and a 15-year scheduled payment option agreement of present value of about A$100 million. It is a significant return, which will eventually enhance RAC’s dividend payment capability to RATCH.
At present, RATCH holds an 80-per-cent stake in RATCH-Australia Co through RH International (Singapore) Corp. It has plans for additional investments in three wind farms with total generating capacity of 300 megawatts and is exploring more investments in the form of share purchase, merger and acquisition or greenfield projects in Australia and New Zealand.
PwC gets new CEO
PwC Thailand has announced the appointment of Sira Intarakumthornchai as chief executive officer, replacing Prasan Chuaphanich after a 37-year career with the firm.
It is customary for PricewaterhouseCooper’s partners to elect a new CEO from among their ranks every four years.
Sira, whose appointment took effect on July 1, will seek to bolster PwC’s position.
“It’s a real privilege and an honour to lead PwC Thailand. I’m committed to building our people and the business community.
“I’m confident of our ability to help our clients navigate and prepare them for the coming regional economic integration,” he said.
GH Bank’s loan offer
Government Housing Bank is offering zero interest for mortgages for the first nine months to customers who apply for loans from now until September 30. The bank is also offering a fixed deposit rate of 5.9 per cent for a ninth-month deposit from now until September 30.
The bank will celebrate its 59th year on September 24.
Condos dominate
Twenty-seven new residential projects worth Bt18.72 billion were launched last month, up 4 per cent from Bt17.99 billion in this May, according to a survey by the Agency for Real Estate Affairs.
Up to 70 per cent of the new projects are condominiums, followed by townhouses, shophouses and detached houses, the survey said.
New safety film
Product Consultant Co is introducing the latest safety film under the brand STEC, targeting sales of Bt100 million by the end of this year.
The company will focus on residences, cars, showrooms, and other uses.
Product Consultant Co was established in 1995 with registered capital of Bt50 million.
Open house
Pace Development Corp and IBC, the companies behind the Bt19-billion 77-storey MahaNakhon mixed-use super-luxury development, in partnership with Siam Commercial Bank and CBRE, will hold a “MahaNakhon SCB Open House” campaign at MahaNakhon Pavilion near Chong Nonsee Skytrain Station tomorrow and on Sunday.
Customers making bookings will be entitled to special offers, and Bt300 million in sales is targeted.
