Briefs

Bangkok Bank is the latest major Thai bank to raise overseas funds to finance aggressive domestic expansion.
BBL, Thailand’s largest commercial bank by assets, informed the Stock Exchange of Thailand yesterday that it had issued senior unsecured notes worth US$1.2 billion (Bt37 billion). The notes, underwritten by Morgan Stanley & Co International, were issued in two tranches: $400 million 5.5-year issue carrying coupon of 2.75 per cent a year; and $800 million 10-year issue carrying coupon of 3.875 per cent.
In September alone, three Thai banks have raised a total of $2.2 billion, inclusive of Siam Commercial Bank’s $500 million and Kasikornbank’s $500 million. All issues have been oversubscribed, indicative of immense interest by overseas investors.
Tisco Bank’s shareholders last week also approved the issuance of senior unsecured notes worth $2 billion.

Sales of Toyota model suspended
The Office of the Consumer Protection Board has ordered Toyota Motors Thailand to suspend sales of its Innova minivan temporarily because of a problem with its airbag warning signal.
Woravat Auapinyakul, minister of the Prime Minister’s Office, said the order followed consumers’ complaints that the warning signal stayed on all the time. They also feared that the problem could cause accidents.
The board has given written notice to the company to suspend sales of this model until the system has been inspected by experts to prove that the problem has been solved.

Nu Skin enjoys big boost in sales
Nu Skin Enterprises (Thailand) says its sales soared by more than 27 per cent in the first eight months of the year.
Nu Skin enjoyed sales of Bt450 million in August thanks to customers’ trust in its ageLOC R2 and ageLOC product lines. In addition, Nu Skin has prepared its marketing strategies to increase sales of anti-ageing products this year by 20 per cent to Bt2.5 billion.
Along with Nu Skin’s success with its new products, the company has been able to strengthen the income of its distributors. In |August, their commissions increased by about 236 per cent compared with July.

MoU signed on film rights
Home-entertainment distributor DNA 2002 has signed a memorandum of understanding for a joint investment project with Giant Pictures to purchase the rights to international films to be screened in local cinemas and home-theatre products including DVDs, video compact discs and Blu-ray.
The partnership is aimed at strengthening DNA 2002’s management capability as well as increasing the variety of imported films, which will be distributed via the company’s 1,256 retail branches throughout the Kingdom.

International food hall planned
Thai Factory Development is expanding its food business with a plan to open an international food hall and supermarket at the 15 Sukhumvit Residences project, requiring combined space of more than 3,500 square metres.
The international food hall will be officially opened by the middle of next year and will target both Thais and foreigners living in the residential complex and nearby areas.
The company recently bought a five-year local-franchise right to a five-star Italian restaurant brand, Signor Sassi, from UK-based San Carlo Restaurant Group. The first Signor Sassi restaurant in Asia will be opened on the 37th and 38th floors of Anantara Bangkok, which will be able to cater to about 100 guests.  |– The Nation