Briefs

The Export-Import Bank of Thailand yesterday inked a US$27.44-million loan agreement with Regional Container Line (RCL) to finance the construction of two container ships.

Kanit Sukonthaman, president of the Exim Bank, said the facility worth Bt865 million came under the Financial Assistance Scheme for Maritime Business.

The government programme aims at promoting the utilisation of the Thai shipping fleet and facilitating the country’s maritime business development,

Scheduled for delivery early next year, the vessels with capacity of 958 twenty-foot-equivalent units will sail to North, Northeast, Southeast and South Asia, the Middle East, and Australia.

The deliveries will help reduce the average age of the fleet and enhance RCL’s competitiveness against foreign carriers.

The Exim Bank is designated by the Finance Ministry to provide local maritime operators with loans denominated in both baht and US dollars to be used for the purchase of new or used ships not over 20 years of age carrying the Thai flag.

Seized cars net half-billion

The Customs Department has sold off seized vehicles worth Bt562.17 million in this fiscal year, fetching Bt9.2 million from the sale of a silver Rolls-Royce. The record, as of August 8, two months before the 2012 fiscal year ends, was 317 of 318 vehicles put up for auction.

The 2002 Rolls was put on the block with a starting price of Bt2.43 million. Trailing behind was a 2005 Bentley Continental GT, which fetched Bt8 million. A 2001 Proton Saga brought the lowest price, auctioned off at Bt47,000, barely beating the starting price of Bt45,000.

In fiscal 2011, the department sold 445 vehicles for Bt655.63 million at two auctions.

RS profit soars

RS yesterday reported a surge of 49 per cent in second-quarter net profit to Bt91.93 million even though its revenue dropped by about 1.6 per cent to only Bt700.29 million from Bt712.96 million in the same quarter last year.

About 40 per cent of its revenue came from TV, radio and in-store media and 60 per cent from contents for music, showbiz and sports.

The company’s board of directors declared an interim dividend of Bt0.10 per share.

Townhouse launches

Sansiri plans to launch six townhouse projects worth Bt5.2 billion during the remainder of the year under the "My World My Passion" campaign.

This is expected to drive presales for its townhouse projects to Bt5.4 billion this year, the company said in a press release yesterday. – The Nation

  Canon launches mirrorless camera

Canon Marketing (Thailand) yesterday announced the launch of its first mirrorless camera here and said it aimed to be the market leader by the next year.

Wataru Nishioka, president and chief executive officer, said the company targeted sales of 3,000 units per month.

He added that Canon aimed to lead the market with a share of 30-35 per cent in 2013.

Canon Thailand this year aims for Bt11.1 billion in revenue. About Bt6.5 million will come from image communication products, including digital cameras.

Spending on Mum

Spending on Mother’s Day alone will jump 5.7 per cent to Bt11.33 billion from last year, the University of the Thai Chamber of Commerce predicted yesterday.

Spending from August 11-13 will increase by 7.3 per cent to Bt17.37 billion.

Saowanee Thairungroj, president of the university, said the results came from a survey with 1,179 responses.

The slight increase in spending reflects higher product prices than last year.

‘More say on big pay’

Two-thirds of business leaders around the world say shareholders should have greater involvement in establishing a remuneration policy for senior executives at large public companies.

Support for this idea rises to 84 per cent in Thailand, where just 38 per cent of business leaders think senior executives are paid too much, well below the Asean average of 54 per cent.

About 62 per cent of Thai business leaders think public companies should disclose the remuneration policy and individual remuneration of executive and non-executive directors, but this is again below the Asean average of 72 per cent.

In the survey conducted by Experian in May and June. as part of the Grant Thornton International Business Report, which covers 3,000 public and private businesses, businesses in Thailand are particularly keen to see executive remuneration at public companies closely linked to performance targets, at 94 per cent, slightly above both Asean at 93 per cent and global at 90 per cent.

In Asean and Thailand, 81 per cent and 78 per cent of respondents agree that the posts of CEO and chairman of public companies should be held by different people to ensure greater oversight. Globally, the support rate is 80 per cent. – The Nation