briefs
Play
Free Internet for all 'loyalty' members
InterContinental Hotels Group (IHG) is set to provide free hotel Internet to all 71 million of its loyalty programme members across the globe, after a survey that nearly half of adults would choose not to stay in a hotel that charges for Internet.
“In today’s fast-paced world, we know that travellers need to stay connected, and free Internet access is increasingly important. I am proud that IHG is the first hotel company to offer free Internet globally to all loyalty programme members,” said Richard Solomons, chief executive of IHG.
The free service will be rolled out gradually from July, for full access by early next year.
In the IHG Internet in Hotels Survey, carried out by YouGov this month, 23 per cent of respondents said that free Internet throughout the hotel was an important amenity.
AOT appointment
Airports of Thailand’s board of directors appointed AOT director Pongsak Semson as acting president, replacing Somchai Sawasdeepon, senior executive vice president, effective yesterday.
SE Asia syndicated loans jump in Q1
Syndicated-loan volume in Southeast Asia grew by 25 per cent to US$14.97 billion (Bt438.5 billion) in the first quarter of 2013, compared with $11.97 billion in the same period last year, according to a survey by Thomson Reuters.
The loan volume grew on the back of 25 deals. In the period, Chaoroen Pokphand Group paid the last batch of its $9.4-billion purchase for Ping An Insurance while liquor tycoon Charoen Sirivadhanabhakdi also completed the acquisition of Fraser and Neave.
According to Thomson Reuters, throughout the Asia Pacific region excluding Japan, the volume reached $59.83 billion via 160 deals, a drop of 3.8 per cent from the $62.21 billion via 231 deals completed a year ago.
LPG hike delay
The Energy Ministry is likely to postpone the increase of the price of liquefied petroleum gas for households from the end of this month to May, pending careful consideration.
The ministry has yet to finish examining LPG consumption by low-income people as part of its move to reduce prices specifically for household users, small businesses and street vendors.
MPI down 1.2%
Thailand’s Manufacturing Production Index (MPI) dropped to a 10-month low in February, mainly because of the baht’s appreciation, which led to slowing orders.
The Industrial Economics Department’s data showed that the index dropped to 169.96, 1.2 per cent down from February last year. In the month, capacity utilisation was at 62.87 per cent.
It said the export sector, which accounts for 60 per cent of the country’s manufacturing sector, suffered from weak demand as well as appreciation of the baht.
BJC consolidating its VN operations
Berli Jucker (BJC) is expected to conclude in next three to six months a plan to consolidate its Vietnam businesses Thai Corp International Vietnam and Thai An Vietnam Joint Stock Company (Thai An) to manage product-distribution channels effectively and reduce redundancy, said managing director Aswin Techajareonvikul.
The company’s takeover of the two companies gave it 200,000 distribution spots across Vietnam. It expects to start realising revenue from Thai An in the second or third quarter.
He said BJC expected to see revenue growth in the first quarter as during the past two months it had achieved its targets. It has set a five-year target for revenue of 15 per cent per year on average thanks to its expansion of distribution channels here and overseas.
Feb exports drop
The value of Thailand’s exports in February dropped by 5.83 per cent year on year to US$17.928 billion (Bt525.22 billion), while import value rose 5.27 per cent to $19.485 billion, resulting in a trade deficit of $1.557 billion.
The decline in export value was due to reduced farm-product export and slow growth of the global economy.
Export value in the first two months of 2013 rose 4.09 per cent year on year to $36.197 billion, while import value surged 22.24 per cent to $43.241 billion.
TFEX Futures Day
The Thailand Futures Exchange, under the Stock Exchange of Thailand group, is gearing up to provide expertise to investors during a time of bullish market sentiment by holding “TFEX Futures Day: Futures, Options Investment Festival” on Sunday to present investors with information and investment techniques for all TFEX products.
TFEX managing director Kesara Manchusree said TFEX products had gained more popularity among investors thanks to their variety, meeting demand from all segments. Since the start of this year through Tuesday, average daily trading volume was at 76,498 contracts. The top three actively traded products were stock futures, accounting for 53.9 per cent of the total; SET50 Index futures; and gold futures.
