Briefs

Finance Minister Kittiratt Na-Ranong expects little impact on Thailand from China’s economic slowdown, which is partly due to measures by Beijing to stabilise the economy and prevent overheating.
China’s gross domestic product grew by 7.7 per cent year on year in the first quarter of 2013, down from 7.9 per cent in the fourth quarter of 2012. Kittiratt said that level of growth was still high, and there may not be any concern for the Thai economy even though China is a major trading partner.
He said other external factors, including the economic situations in the United States and Europe, also might not have much impact on Thailand, but needed close monitoring.

Boost for Oil Fund
The Energy Policy Administration Committee chaired by Energy Minister Pongsak Ruktapongpisal yesterday approved an increased contribution of 50 satang per litre to the Oil Fund from sales of 95-octane petrol and 95, 91 and E20 gasohol, while that of diesel was raised by Bt1.20 per litre.
The increased contributions will boost Oil Fund revenue to Bt264 million per day from Bt184 million currently and turn around the fund within 40 days from its net loss of Bt11.762 billion as of April 14.

Yacht facility
Yacht Solutions and Ital Thai Marine have signed a memorandum of understanding agreeing to create Thailand’s first dedicated super-yacht facility in Bangkok.
Yacht Solutions at Ital |Thai Marine is being set |up in response to the demand for more super-yacht refit and repair facilities in the Asian region from both owners of such vessels based in Asia and those travelling |from Europe and the Americas, according to |Yacht Solutions.
Yacht Solutions at Ital Thai Marine is a 112,000-square-metre facility offering full shipbuilding and repair capabilities plus a bonded warehouse and in-house design office. It has access to two 115-metre dry docks, 300 metres of alongside berthing, a floating dock of up to 160 metres and 5,000 tonnes’ lift capacity, making this the largest luxury-yacht repair facility in Southeast Asia.

Track department
The government plans to set up a track transport department to facilitate the Bt2-|trillion infrastructure project, said Transport Ministry permanent secretary Wichean Potephosree.
The department will oversee civil work construction, track safety standards, and track operations. The department is expected to be in place by fiscal year 2015.

Commercial banks rejecting more mortgages
Commercial banks are rejecting more mortgage applications as household debt has climbed as a result of the government’s first-car incentive scheme, Thai Condominium Association president Thamrong Panyasakulwong said.
At present, the rejection rate for mortgages has increased from an average of 5 per cent of total applications to 10 per cent.
He said that level would have little effect on the property sector because new buyers would replace the rejected customers. However, if the rejection rate increased to 30 per cent, that would have a negative impact on the market.
 

Dual listing ‘by Q4’
CIMB Group’s proposed dual listing in Thailand is expected to become reality by the fourth quarter of 2013, said group CEO Nazir Razak.
Speaking to reporters after the banking group’s annual general meeting in Kuala Lumpur yesterday, he said CIMB was always keen on the dual listing.
“It will be Q4 if everything goes smoothly,” he said. CIMB Group holds 94 per cent of CIMB Thai Bank.
Nazir also said that by year-end, the group’s presence would be extended to 19 countries and territories, including Taiwan this month and Laos by the third of fourth quarter. – The Star, ANN

Warehouse contract
Malaysian firm Bina Puri Holdings through its unit Bina Puri (Thailand) Ltd has secured a contract for construction of another warehouse, from the Thai Consumer Distribution Centre Co, under the Bina Puri-Dimara Joint Venture. Bina Puri will design and build the Unilever Distribution Centre 2 for Bt808.8 million.
 The warehouse distribution centre is to be located in Bangkok’s Min Buri district and will be completed within 14 months.
 Bina Puri Holdings Group managing director Tee Hock Seng said that since the company ventured into the Thai construction industry in 2003, this was the sixth warehouse and factory construction job it had been awarded.

PATA summit
The Pacific Asia Travel Association will conduct the PATA Annual Summit on April 26 at Centara Grand & Bangkok Convention Centre at CentralWorld, Bangkok.
The one-day summit will address the theme “Embracing the Complete Visitor Economy” with four key sessions:
• Why the visitor economy is key for jobs and societal development;
• Public-sector challenges and opportunities inherent in advancing the complete visitor economy;
• Private-sector challenges and opportunities inherent in advancing the complete visitor economy;
• Strengthening weak links in the visitor economy.

Dusit in China
Leading Asian hospitality group Dusit International is exhibiting at IT&CM China, that country’s leading international MICE (meetings, incentive travel, conventions and exhibitions) event, at the Shanghai World Expo Exhibition and Convention Centre from yesterday to tomorrow.
There, the company launched its latest MICE promotion, “Dusit Fine Selection”. Meetings and events booked from yesterday to June 30 and held between May 1 and October 30 at participating hotels and resorts will count as one entry towards a lucky draw.
Dusit International also intends to emphasise its commitment to the Chinese market by reinforcing its announcement of a joint-venture agreement signed with a local partner earlier this year.