briefs
Thitikorn bike loan provider eyes 10%
Thitikorn (TK), a major motorcycle-loan provider, expects 10-per-cent growth in revenue this year, said deputy managing director Prapol Phornprapha.
The company posted Bt3.662 billion in revenue last year, a rise of 8.7 per cent year on year, with a net profit of Bt712.1 million compared with Bt624.7 million in 2011 and Bt532.3 million in 2010.
TK will open 10 more branches this year, in addition to the existing 83 outlets, to tap growing purchasing power in the provinces.
Delta, Westin offerin-flight bedding
Delta Airlines has teamed up with Westin Hotels to offer business travellers a new bedding experience in the air. Starting from June 13, Westin’s Heavenly In-Flight bedding product will be available for business class travellers of all Delta international flights from Thailand and throughout the world.
Delta is also enhancing the “sleep experience” by expanding full flat-bed seating into the Business Elite cabin on transcontinental US flights beginning this month. All of Delta’s Boeing 757 and 767 aircraft on these flights will offer the flat-bed seats over the next 24 months.
Delta’s decision to install full flat-bed seats on its transcontinental flights complements the airline’s current investment in these seats on its entire international wide-body fleet of more than 140 aircraft.
By the end of this year, 70 per cent of Delta aircraft will have flat beds and, early next year, Delta’s entire wide-body fleet is scheduled to have them.
“Delta is committed to providing our customers with the best possible sleep experience in the skies and we’re excited to partner with another leader in the travel category, Westin Hotels and Resorts, who shares this goal,” said Joanne Smith, Delta’s senior vice president for in-flight service.
The new Westin Heavenly In-Flight bedding product is just one of the new amenities Delta is introducing to ensure customers achieve a restful, rejuvenating in-flight experience.”
Energy Earth ups coal sales target
Energy Earth, a coal miner, has raised its annual sales growth target to 8 million tonnes from 6 million tonnes on anticipated demand from both local and overseas markets, said managing director Khajohnpong Khamdee.
The company has acquired a number of new customers, including buyers in India and China, he said.
The company’s 2012 consolidated net profit surged 223.91 per cent year on year to more than Bt1.28 billion.
SET-TFEX fair in Chiang Rai
The Stock Exchange of Thailand and Chiang Rai province will jointly launch an SET-TFEX (Thailand Futures Exchange) investment fair at Dusit Island Resort Chiang Rai tomorrow from 9am to 16.30pm.
The fair will see stock-investment experts from several brokerage houses sharing their views.
Approval granted 34 foreign firms
Approval was granted last month to 34 companies to do business in the country under the Foreign Business Act.
At least Bt1.74 billion has been transferred to Thailand to set up operations, Ittipol Changlum, deputy director-general of the Business Development Department, said. During the first two months of this year, 64 foreign firms were approved, bringing in initial capital of Bt1.98 billion.
Brownout risks
Three industrial estates are at risk of a brownout when Myanmar suspends natural-gas deliveries to Thailand from April 5-14.
They are Bang Chan, Lat Krabang and Anyathani, Nattapon Nattasomboon, director-general of the Industrial Economics Office, said yesterday. Residential or commercial buildings close to high-tension transmission lines in areas such as Lat Phrao, Ratchadaphisek and Bang Kapi could also face brownouts.
Chemical leak
Thai Polypropylene Co, a subsidiary of Siam Cement Group, reported Wednesday a leakage from a propylene pipe in the RIL Industrial Estate in Rayong province.
Thai Polypropylene disclosed that the white smoke came from its plant at 11am and the alarm bell rang, so the company evacuated staff to the plant’s meeting point.
The company’s safety team and staff of the Industrial Estate Authority of Thailand then jointly to fixed the leak and the situation returned to normal in the afternoon.
Islamic Bank ‘BBB’
Fitch Ratings (Thailand) has confirmed a “BBB” rating for the Islamic Bank of Thailand because the company believes that the government will increase capital in the bank.
Asia Green foresees coal sales of 2 million tonnes
Asia Green Energy, an importer and distributor of clean coal, expects sales of more than 2 million tonnes this year, up from 1.7 million tonnes in 2012, thanks to a declining oversupply and rising demand from India and China.
Managing director Panom Kuansataporn expects the coal price this year to average between US$91 and $92 per tonne versus the present $90, up from around $80 a tonne last year.
Of total expected sales this year, 1 million tonnes will be sold to China and the rest in the local market. It has penetrated the Indian market but has yet to have a distribution order. It expects to see an order from India next quarter.
Asia Green Energy expects to make a profit this year thanks to the improving coal price, from a loss of Bt24.56 million last year. It has forecast Bt6 billion revenue this year.
The company is expected to conclude a deal to buy a coal mine in Indonesia this year. This developed mine is estimated to have 10 million tonnes of coal reserves. If the deal is successful, Asia Green Energy will immediately realise revenue from the mine.
Businesses ‘not ready’ for AEC
Thai businesses are not ready to trade and invest in the upcoming Asean Economic Community (AEC) because of a lack of information, language skills, and funding sources, according to a survey by the University of the Thai Chamber of Commerce.
The survey was conducted from February 18-22 on 800 respondents, of whom 40.7 per cent said they were not ready at all to trade in AEC member countries, while 69.6 per cent said they were not ready at all to invest in the AEC.
About 47.8 per cent said they were uncertain whether they would invest or trade in the AEC, 33.5 per cent said they would not invest, and 18.7 per cent said they would do so.
When asked why they were not ready to trade in the AEC, 27.5 per cent cited a lack of language skills, and 15.3 per cent said they had no adviser. When asked why they were not ready to make investments, 26.7 per cent said a lack of funding.
Raimon roadshow to Singapore
Raimon Land plans to roadshow its condominiums in Singapore, targeting total revenue of Bt6.5 billion this year, up 18 per cent from Bt5.5 billion in 2012.
The company also plans to launch a new condominium project this year worth Bt2.1 billion, The Lofts Ekkamai, company director Lionel Lee Chye Tek said.
“We believe that we will continue to show net profit this year after we announced net profit of Bt495.84 million in 2012,” he said.
Home-building fair
The Homebuilder Association targets Bt500 million in sales at Homebuilder Focus 2013, being held at CentralPlaza Ladprao until March 6.
Thirty home-building firms are participating in the event, offering special promotions.
