Briefs

The Board of Investment has approved Bt28 billion worth of tax privileges for post-flood recovery investment for 35 projects.

Twenty-seven projects worth Bt23.29 billion are for recovery of flood-ravaged businesses, while eight projects worth Bt5.05 billion are new investments in flood-hit areas including industrial estates in Ayutthaya and Pathum Thani provinces.

Meanwhile, the BOI has 41 projects worth Bt56 billion waiting for approval, including Bt20 billion invested by Honda at Rojana Industrial Estate. This may be approved at the next meeting, said Industry Minister MR Pongsvas Svasti, who is also president of BOI’s board. 

Trinity to increase capital

Trinity Property Fund's shareholders approved an increase in capital worth Bt695 million.

This will be used to invest in serviced apartments and commercial accommodation at the Tritip 2 building on Bangkok’s Silom Road and in a long leasehold in Trinity Mall 3. This will increase its dividend yield from an average 7.5 per cent to 7.6-8 per cent next time.

Finansa Securities targets issuing the new capital of the Trinity Property Fund next month, the company's director and CEO Theraphan Jittalarn said. 

More Caltex stations planned

Chevron (Thai) Co, operator of Caltex fuel stations, plans to open 500 new ones in the next three years.

This is aimed at increasing its share of the retail fuel market from 8 per cent to 10 per cent within three years, country chairman and general manager Adrian Bendeck said.

Fitch issues rating for AP

Fitch Rating (Thailand) has affirmed Asian Property Development’s national ratings at long-term "BBB+(tha)" and short-term "F2(tha)". The outlook is stable.

The ratings reflect the company’s strong foothold in the condominium and townhouse market in Bangkok and nearby cities, Fitch said. Its established brand and development track record, particularly in mid-tier to upper mid-tier properties, have helped maintain both healthy presales averaging Bt15 billion per year and reasonable profit margins of 19 per cent to 24 per cent during the past five years.

Beauty clinic for VN

Pan Rajdhevee Group is negotiating with investors in neighbouring countries, including Vietnam and Cambodia, for joint-venture possibilities in operating Pan beauty clinics.

The group expects first to open a Pan clinic in Vietnam by the beginning of next year.

It also plans to invest Bt100 million in marketing activities in the current fourth quarter of the year and aims for Bt1.3 billion in sales for the full period of 2012. It will launch a new imported skincare brand, Bio Oil, from South Africa in the current quarter.

Pan Rajdhevee Group reported 10-per-cent growth year on year in the first nine months. However, its profit dropped by 4-5 per cent over the period. – The Nation