In-the-News
Vehicle sales soar by 52.7% in September
Quicker delivery to buyers, especially those under the first-car tax-incentive scheme, pushed up new-vehicle sales in September by 52.7 per cent year on year, resulting in a nine-month sales record of more than 1 million units.
Vehicle sales last month were 132,874 units. These comprised 68,282 passenger cars, up by 67.8 per cent, while commercial vehicles increased by 39.4 per cent to 64,592 units, of which 56,282 were 1-tonne pickup trucks, according to data compiled by Toyota Motor Thailand.
KBank cuts rates
Kasikornbank is the third bank to cut both loan and deposit interest rates after Bangkok Bank and Siam Commercial Bank.
Somkiat Sirichatchai, senior executive vice president, said the decision followed the 25-basis-point policy-rate cut by the Bank of Thailand’s Monetary Policy Committee.
KBank’s lending rates will be cut by 0.13 percentage point, bringing its minimum lending rate to 7 per cent. Interest paid on fixed deposits will be cut by 0.05-0.50 percentage point, bringing the three-month fixed rate to 1.65-2.05 per cent, the six-month rate to 2-2.25 per cent, and the 12-month rate to 2.40-2.60 per cent. The 24-month fixed rate will be 2.65 per cent and the 36-month rate will be 2.70 per cent.
The cuts will take effect tomorrow.
Laos hydro deal inked
Ratchaburi Electricity Generating Holding disclosed that Xe-Pian Xe-Namnoy Power Co (PNPC), 25-per-cent-owned by Ratch, recently entered a 27-year concession agreement with the Laotian government for the right to develop and operate Xe-Pian Xe-Namnoy Hydroelectric Power Plant.
The 27-year concession will be effective from the commercial operation date in 2018 onwards. PNPC, a joint-venture company, will seek to conclude a power purchase agreement with the Electricity Generating Authority of Thailand (Egat) by the end of this year.
JMT plans IPO
JMT Network Service plans an initial public offering 75 million new shares in mid-November before beginning trade on the Stock Exchange of Thailand at the end of next month. The company manages non-performing loans (NPLs) for hire-purchase businesses.
It plans to sell 45 million shares for its major shareholder J Mart.
– The Nation
