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BOT to permit single-purpose bank branches
The Bank of Thailand has amended the rules governing the formats of bank branches in line with changing consumer behaviour.
Banks now will be able to open branches for a specific service, and not necessarily to cover all four service categories, to reduce operating costs. At present, bank branches must handle all four categories – deposits, withdrawals, transfers, and opening and closing of accounts.
These all require appropriate locations, proper information-technology systems and a reasonable number of staff, resulting in high costs.
“This will help expand commercial banks’ presence nationwide, as well as allow them to extend financial services to small clients and the general public more efficiently,” said BOT Assistant Governor Salinee Wangtal.
Under the new rule, a bank branch can handle loans solely, without needing to cater to the other services.
Still, the central bank warned that under the new format, commercial banks must manage risk appropriately and provide fair service.
Susco JV to provide NGV
Susco is setting up a joint-venture company, S NGV Co, to operate stations offering natural gas for vehicles or other related businesses.
Its board of directors resolved late this week to establish the joint venture, in which Susco will invest 50 per cent of the registered capital of Bt20 million, consisting of 200,000 common shares, having a par value of Bt100 per share. The first payment of the capital will be 25 per cent of the registered capital. The source of the funds for the investment is working capital.
CAT back-ups
CAT Telecom has prepared measures and back-up power to ensure its information-technology service and telecom business are not be affected by the disruption in the supply of natural gas from Myanmar from April 5-14, said chief executive officer Kitisak Sriprasert.
There have been warnings of possible shortages of electricity during the period, as most of Thailand’s power plants are fuelled by natural gas. The supply disruption is due to scheduled maintenance.
‘Opportunity Day’ record
The Stock Exchange of Thailand’s first-quarter “Opportunity Day” events, which highlighted listed companies’ financial performance in 2012, attracted 90,000 viewers via webcasts, smart phones and tablets, an all-time high.
To boost access to this information channel further, the SET will test its “OppDay” application on Android at the next quarterly Opportunity Days, when top management of listed companies meets directly with analysts and investors.
So far there have been more than 50,000 downloads of OppDay on iPads, containing useful information of listed companies as presented on fact sheets, such as business performance and up-to-date key statistics, the latest annual reports, and event calendars presenting corporate actions.
New power consumption record
Power consumption hit a new record on Thursday, at 26,430 megawatts, as temperatures averaged 39.1 degrees Celsius in the Kingdom, according to the Electricity Generating Authority of Thailand.
Last year’s record was registered on April 26 at 26,121MW, when the temperature averaged 38.5 degrees.
Egat governor Sutat Patamasiriwat said that as the temperature is set to rise, power consumption could peak at 27,000MW.
He urged all Thais to use energy-saving equipment and maintain the efficiency of their electrical appliances.
Authorities have urged all parties in Thailand to join an energy-saving campaign this year, to cope with lower supplies of natural gas for generating electricity as well as high temperatures. It is expected that power consumption will peak on April 5. The operator of Yadana gas field in Myanmar earlier agreed to postpone a maintenance shutdown to April 6, to help Thailand avoid power brownouts or even blackouts.
BECL eyes Bt4 bn profit
Bangkok Expressway (BECL) says it is confident of achieving profit of more than Bt4 billion this year, up from Bt2.25 billion last year.
About Bt2.8 billion of the profit will be due to the adjustment of the accounting process as the company increased its stake in Thai Tap Water Supply from 9 per cent to 20 per cent. Another positive factor will be higher income from the growing number of cars using its expressways. In Bangkok, that number is expected to increase by 2 per cent this year from 1.08 million units per day to 1.1 million. The number of vehicles using the expressways in suburban areas is expected to increase by 7 per cent.
BECL managing director Phayao Marittanaphorn said the company posted the strongest profit in its history last year driven by operational revenue and its investment in other companies. It believes 2013 will be another good year thanks to the higher number of cars using its expressways and increases in tolls in the near future.
Construction of BECL’s Bt25-billion Sri Rat-Outer Ring Road Expressway has begun and it is scheduled to open for service in 2016. The project is expected to reach a return on investment in the 17th or 18th year of the 30-year concession period.
Fibre-to-home contract
TOT yesterday signed a five-year deal to lease a fibre-optic network to Simat Technology to provide fibre-to-home broadband Internet in Chiang Mai and Nakhon Ratchasima provinces for the state agency.
Youngyuth Wattanasin, TOT president, said the agency planned to expand its broadband Internet business nationwide by joining with major partners in main provinces including Chiang Mai, Nakhon Ratchasima, Khon Kaen and Songkhla.
Simat Technology is the first company to sign a contract with TOT for providing the service for 15,000 users in Chiang Mai and 12,000 in Nakhon Ratchasima. TOT targets revenue of at least Bt200 million this year from these services. Under the contract, Simat will charge users a monthly fee of Bt1,200.
This is the fourth contract TOT has signed recently with companies to expand its fibre-to-home service. The other three contract partners are Well Done IT in Khon Kaen, KP Eastern Work in Chon Buri, and Fit Telecom in Bangkok.
SEZ candidates
Prime Minister’s Office Minister Nivatthamrong Boonsongpaisal revealed yesterday that about 10 areas in 10 provinces had proposed themselves for promotion as special economic zones (SEZs).
They include Mae Sot Border Checkpoint in Tak province, Mae Sai Border Checkpoint in Chiang Rai province, and Sadao Border Checkpoint in Songkhla province.
The government has ordered the Office of the National Economic and Social Development Board to study the possibility of setting up SEZs in a number of areas. It may be possible for Thailand to develop large-scale zones similar to those in foreign countries.
