Briefs

BTS Group Holdings shareholders yesterday approved a fund-raising through the establishment of the BTS Rail Mass Transit Growth Infrastructure Fund, which will be worth between Bt50 billion and Bt60 billion.
The fund will invest in the future net fare-box revenue from the operation of the 23.5 kilometres of core Green lines connecting Mo Chit-On Nut, and Taksin Bridge-National Stadium, operated by Bangkok Mass Transit System, a subsidiary of BTS.

Sugar share sale
Khonburi Sugar’s board has approved the sale of 9.1 per cent of its new shares to Japanese firm Mitsui Group.
Managing director Takon Tawintermsup yesterday said 33.33 million of the 100 million shares would be sold to Mitsui & Co for Bt10.25 each, with an equal number of warrants worth Bt0.05 per unit. Another 16.67 million shares priced at Bt10.25 apiece, with an equal number of warrants worth Bt0.05 per unit, will be sold to Mitsui Sugar.
After the deal, Mitsui Group will hold 9.1 per cent of Khonburi Sugar. This will rise to 16.7 per cent when the warrants are transferred into shares in the future, he said.
The company will seek approval from its shareholders on February 5.

Boon for insurance
The General Life Insurance Association yesterday forecast that the industry’s premium would grow by 15 per cent to Bt200 billion next year, thanks to higher-than-expected vehicle sales under the government’s first-car buyer campaign.
In addition, insurance business in Thailand will see more mergers and acquisitions in 2013, said the association.
President Jiraphant Asvatanakul said overall premium is expected to grow by 22 per cent to Bt170 billion this year, driven by the first-car buyer scheme and the brighter investment picture in the Stock Exchange of Thailand.
The first-car scheme is expected to account for Bt100 billion of new premium, miscellaneous insurance for Bt50 billion and fire the rest.

New Sena projects
Sena Development plans to launch 12 residential projects worth a combined Bt7 billion next year. Six of the projects will be condominiums, four will be for detached housing and two for townhouses, director Kessara Thanyalakpark said.

Yongyuth in spotlight
TOT’s selection panel recently chose Yongyuth Wattanasit as the state telecom agency’s next president.
The result will be presented for board consideration today.
Yongyuth is currently acting president of the agency.