Briefs

Saha Farms Group expects its chicken exports to soar to 120,000 tonnes this year from 90,000 tonnes last year after the European Union cancelled its ban on fresh chicken from Thailand.

Jesse Liu, executive vice president of Thailand’s largest chicken exporter, said yesterday that his company had seen strong shipments this year as import barriers come down. It is now facing a shortage of chickens, as it can raise only 700,000 a day.

The company aims to expand its chicken-breeding capacity to 1 million tonnes because of higher demand in many countries, especially those in the EU, he said.

Tulip makes costly buy

Pattaya-based luxury developer Tulip Group has made the most expensive inner-city land purchase in the resort city’s history.

The group paid Bt500 million for 11 rai (1.75 hectares) in downtown Pattaya, 200 metres from the Hilton hotel.

Tulip Group CEO Kobi Elbaz said yesterday that the company planned to develop a luxury condominium complex and hotel on this site.

AIA wants more foreign bonds

AIA Thailand is ready to invest more in foreign bonds if the Insurance Commission allows insurers to increase their overseas investment limits.

A decision on the relaxation of restrictions on foreign investment is expected by year-end.

Anucha Laokwansatit, senior vice president and chief investment officer, said yesterday that the company wanted to buy more foreign bonds, especially those in Asia, because they give a return of up to 6 per cent, higher than Thai bonds.

AIA plans to join the bidding for 12-to-35-year government bonds from September 10-14. The company hopes the government bonds can help reduce interest-rate volatility.

AIA Thailand’s Bt550-billion investment portfolio is 85 per cent in bonds. – The Nation

‘Best Friends’ event eyes Bt1 bn in export orders

The Commerce Ministry expects to generate up to Bt1 billion in export orders from next week’s "Thailand’s Best Friends" project.

Chantira Jimreivat Vivatrat, director of the Market Development Bureau under the International Trade Promotion Department, said the project would run from September 10-12 this year Monday to Wednesday.  

Ch Karnchang backs SEAN

Ch Karnchang reported to the Stock Exchange of Thailand that the company had provided a loan of Bt156.25 million to SouthEast Asia Energy to fund survey and development of the Nam Bak 1 and 2 hydroelectric power projects.

Robinson studies Asean move

Robinson Department Store is looking into expanding its investment overseas next year, focusing on Asean countries, the company’s president Preecha Ekkunagul said.

The company has set aside an investment budget of Bt1.2 billion to open five new branches next year, he said.

Robinson reported sales of Bt10.07 billion, up 23 per cent, and net profit of Bt1.03 billion, up 34 per cent, in the first half of this year over the same period of 2011 thanks to higher demand.

Krungthai AXA premiums soar

Krungthai AXA Life’s first-year premiums skyrocketed by 148 per cent to Bt4.61 billion in the first half of this year.

The company also reported half-year statutory profits of Bt1.1 billion, up by 33 per cent over the same period last year. Its total premiums also jumped by 33 per cent to Bt12.8 billion. –The Nation