Another rice auction set for next week

Commerce Minister Boonsong Teriyaphirom said the ministry would gradually release rice from the government’s stockpiles during the remainder of the year.
He added that the ministry would this week report on its performance in areas of its responsibility. The performance report will focus on controls on the cost of living and good price management, increasing prices for agricultural goods, and inflation management, as well as its efforts to drive exports. – The Nation

Haier seeks to buy
NZ’s Fisher& Paykel
China’s growing economic reach in the South Pacific took another step yesterday when home-appliance giant Haier indicated it would make a full takeover offer for much smaller New Zealand competitor Fisher & Paykel Appliances.
Haier already owns 20 per cent of Fisher & Paykel, which manufactures such appliances as stoves, refrigerators, washing machines and dishwashers. The 78-year-old New Zealand company was hailed locally for decades as a success story, although it has struggled in recent years against tough market conditions and a high New Zealand dollar.
Any takeover bid would come as a blow to New Zealand pride and could jeopardise jobs in the country of 4.4 million. – AP

Eureka plans IPO
of 50 million shares
Eureka Design, a designer and producer of machinery for the auto industry, last week filed at the Securities and Exchange Commission for an initial public offering of 50 million shares.
The shares with a par value of Bt0.50 each would represent 29.4 per cent of its paid-up capital as of last week.
Then the company will apply to list on the Market for Alternative Investment.
The IPO proceeds would be used to upgrade its machinery and augment working capital to operate in the long term, managing director Narakor Ratchapolsit said.
The company’s customers include Honda, Yamaha, Isuzu and Suzuki. – The Nation