briefs

SME Bank, Islamic Bank to get capital
The Finance Ministry has approved capital increases of Bt3 billion each for the state-owned Small and Medium Enterprise Development Bank and Islamic Bank.
The recapitalisation is to rehabilitate the two banks’ business and restructure their non-performing loans, said permanent secretary Areepong Phuchaum Bhoocha-oom.
There will be two phases to the move.
The first phase will inject Bt550 million into SME Bank and Bt450 million into Islamic Bank this year. Next year, Bt2.45 billion will be injected into SME Bank and Bt2.55 billion into Islamic Bank, he said.

Revenue ‘assured’
The Finance Ministry is confident that the government will be able to meet its revenue-collection target of Bt2.1 trillion this fiscal year, thanks to the expanding economy and domestic consumption growth, said Somchai Sujjapongse, director-general of the ministry's Fiscal Policy Office.
Revenue in March stood at Bt151.037 billion, 1.3 per cent higher than estimated, attributed to rising household income and higher vehicle-excise contribution as a result of the first-car tax-rebate programme.
Revenue in the first half of fiscal 2013 (October 12, 2012, to March 13, 2013) was Bt978.834 billion, 10.7 per cent higher than the target.,

ThaiBev slips
Standard & Poor’s Ratings Services has lowered its long-term corporate credit rating on Thai Beverage to “BBB-” from “BBB”.
The outlook is negative. It has also lowered the long-term Asean regional scale rating on the company to “axBBB+” from “axA”.
The agency lowered the ratings on ThaiBev because it expects the company’s debt to remain high and its cash-flow adequacy to stay weak over the next 24 months after its acquisition of a stake in Singapore-based conglomerate Fraser and Neave, said S&P credit analyst Xavier Jean.

Betagro Group is building a mill in Phnom Penh to cash in on growing demand in Cambodia for animal feed meal.
Narongchai Srisantisaeng, senior vice president for regional and feed business, said yesterday that the mill would have a monthly capacity of 18,000 tonnes. Construction commences next month and ends next year.
Betagro entered Cambodia through a sales office in 2008. At present, it sells 3,600 tonnes of animal feed monthly in the country.
The plant will facilitate transport, save transportation costs, boost the price competitiveness of the company’s products and enhance service quality for customers, the Betagro says.
The company’s swine farm in Cambodia is under construction at a 400-rai (64-hectare) site and slated for completion next month. Developed to Betagro’s strict standards, the plant will be equipped a system to convert waste into biogas, which will save 30-50 per cent of power usage. The closed farm will also ensure maximum hygiene standards.
The company is also conducting a feasibility study for a processing plant and a Betagro Shop in the country.