Briefs

Posco has sold a large stake – 779.57 million shares or about 10 per cent of the paid-up capital of Posco-Thainox – to Chalermchai Mahagitsiri at Bt1.35 per share, the company reported to the Stock Exchange of Thailand yesterday.

According to the deal, Posco’s share in Posco-Thainox will reduce from 79.53 per cent to be 69.53 per cent. – The Nation

Hyatt signs new management deal

Hyatt Hotels Corporation announced yesterday that a Hyatt affiliate has signed a management agreement with Pioneer Property Co (PPC), a Bangkok-based real estate firm, for a new Hyatt Place hotel to be located in the heart of the Thai capital.

Hyatt Place Bangkok, Sukhumvit, which will offer 220 guest rooms and seven studio suites, will join the recently announced Hyatt Regency Bangkok, Sukhumvit, which is also expected to open in 2017, and Park Hyatt Bangkok, which is expected to open in 2014. The introduction of the Park Hyatt, Hyatt Regency and Hyatt Place brands further reaffirms Hyatt’s continued commitment to Thailand. There are currently two Hyatt-branded hotels in Thailand – Grand Hyatt Erawan Bangkok and Hyatt Regency Hua Hin.

"As the capital, principal city and economic centre of Thailand, Bangkok is strategically important for both business and leisure travellers and we are grateful to have the opportunity to introduce Hyatt Place to this part of the world," said Ratnesh Verma, senior vice president, real estate and development, Asia Pacific, Hyatt Hotels and Resorts. – The Nation

F&N appoints adviser

The board of directors of Fraser and Neave (F&N) has appointed JPMorgan as independent financial adviser to give recommendations before December 20, 2012 on the OUE and Kirin offers to shareholders. – The Nation

Bangsue Chia Meng to expand production

Bangsue Chia Meng Rice Mill Co, the maker of Hong Thong Ready Rice, has invested more than Bt100 million to launch BSCM Foods Co to expand production of three brands: Goodish ready-to-eat brown rice, Frezfill rice milk and Enere energy drink.

Output will start next month for distribution to local and international markets. In the first stage, the company will focus on Bangkok before expanding to the provinces.

Overseas, the company is focusing on health-conscious consumers in the US and Europe. Revenue from exports is targeted at Bt160 million. – The Nation

Siampiwat goes digital to boost sales

Siampiwat Co has set aside a budget Bt20 million to launch its new distribution channel through digital media – www.siamism.com.

It will open a new channel for customers who love to shop online.

The website will have products from 200 shopping outlets at Siam Centre, and Siam Discovery, to display and sell on the website. It is targeting Bt10 million sales in the first year of operations in 2013, Digi Media Marketing Co’s Heminfan Thanpaisit, who manages this website, said. – The Nation

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MK Real Estate plans to launch four new residential projects worth Bt4 billion that targets sales of Bt3.5 billion in 2013, the company’s marketing manager Thanya Siripuchana said yesterday. – The Nation

New mall coming up in Muang Thon Thani

Bangkok Land has set aside an investment budget of Bt800 million to develop a special lifestyle neighbourhood mall, Bee Hive, to serve the 300,000 residents of Muang Thong Thani, company managing director Peter Kanjanapas said.

The mall will also meet the needs of the more than 15 million visitors every year to Impact.

The piling for Bee Hive has already been completed and the date of completion will be within the fourth quarter of 2013. – The Nation