briefs
Coal firm AGE looks to India for more orders
Asia Green Energy (AGE), a distributor of bituminous coal, targets revenue of between Bt6 billion and Bt6.5 billion this year, said chief executive officer Panom Kuansataporn.
Lately it clinched an order from a power-plant operator in India for 50,000 tonnes of coal, and it is in talks with a few other plants for more orders, which are expected to be wrapped up in the current quarter.
Panom said demand for coal in India was set to increase. The country is expected to build 200 new power plants totalling 78,000 megawatts by 2017. This will raise coal demand to 200 million tonnes per year versus imports of 98 million tonnes last year.
AGE estimates its sales of coal in overseas markets at 700,000 tonnes in the first half, of which 600,000 tonnes will go to China and the rest to India. If the targets are achieved, the revenue proportion from overseas markets this year will rise to 40 per cent of total sales, projected to be at least 2.2 million tonnes.
TNN links with CNN
CNN, the world's leading global 24-hour news network, and Thai News Network (TNN24), Thailand’s first 24-hour Thai-language news channel, have signed a multi-year broadcast-affiliation agreement, expanding on the existing multi-platform partnership CNN has with TNN’s parent company, TrueVisions Group.
The agreement will provide TNN24 with access to CNN’s live breaking-news coverage and premium news and feature programming, as well as CNN’s video portal tailor-made for its affiliates. The affiliation will also allow TNN24 to benefit from the editorial training and information sharing CNN provides all its broadcast affiliates.
“CNN and Turner International Asia Pacific are delighted to be building further on our long-term partnership with TrueVisions Group, enabling TNN24 to provide the people of Thailand and Thai-speaking viewers across the world with best-in-class international news coverage,” said Steve Marcopoto, president & managing director of Turner International Asia Pacific.
Selected highlights of the news and feature programming that TNN will have access to include CNN’s breaking-news coverage from across the world, “Anthony Bourdain – Parts Unknown”, “Piers Morgan Live”, “Talk Asia”. There will also be news programming produced from the Asia headquarters in Hong Kong, including “CNN Newsroom Live from Hong Kong”, “On China” and “CNN NewsCenter”.
TRC moves from MAI
TRC Construction will today move its share trading to the Stock Exchange of Thailand from the Market for Alternative Investment, which is expected to draw more investors and increase its capacity to raise capital.
TRC might need to raise more funds to serve its plan to invest in alternative energy.
It is looking at bidding for many projects this year, including the installation of Saraburi-Nakhon Sawan natural-gas pipelines by PTT worth Bt2 billion, and of pipelines for small power producers, also worth Bt2 billion. It is also interested in entering the compressed bio-methane gas (CBG) business.
Bike sales up 6%
Thailand’s motorcycle industry saw the total sales in the first quarter of 549,067 units, growing by 6 per cent year on year, said Suchart Arunsaengroj, director of AP Honda.
Total motorcycle sales reached 191,076 units in March.
New Hitachi boss for region
Hitachi Data Systems Corporation, a wholly owned subsidiary of Hitachi Ltd, has appointed Neville Vincent as senior vice president and general manager for Asia-Pacific.
He is responsible for leading the company and providing strategic direction to drive growth and expand business throughout the region, capturing emerging opportunities.
Vincent has more than 20 years of international sales, marketing and management experience in the information-technology industry, Hitachi said. He has a successful track record as a country manager for multinational businesses in various Asia-Pacific markets.
Before assuming his regional management role, Vincent was vice president and managing director of Hitachi Data Systems Australia, New Zealand and the Pacific Islands, and managing director of Hitachi Data Systems Korea. These markets experienced rapid business growth under his leadership.
Vincent succeeds Kevin Eggleston, who has been named senior vice president of global verticals and integration.
Hitachi Data Systems Asia Pacific revenues for the third quarter of fiscal 2012 topped all regions with 12-per-cent year-over-year growth from the third quarter of fiscal 2011.
IRPC rating under review
Moody's Investors Service has placed the “Baa3” corporate family rating and senior unsecured bond rating of IRPC, a producer of integrated petrochemical products, under review for possible downgrade.
The review follows IRPC's weaker-than-expected operating performance and financial metrics in 2012 and concerns that the company could take longer than expected to improve its operating margins and financial profile, said Simon Wong, a Moody's vice president and senior analyst.
Bangkok Industrial Gas raises capacity
Bangkok Industrial Gas is spending Bt500 million on building the country’s largest hydrogen-production plant, which will increase the company’s combined capacity from 13,000 to 20,000 cubic metres per hour.
This will make the company the second-biggest hydrogen producer in Asean, behind a company in Singapore.
Managing director Piyabut Charuphen foresees a 10-per-cent annual increase in demand for hydrogen, particularly due to the upgrade in fuel quality to meet the Euro 4 standard.
Hydrogen is used to capture sulphur in crude oil.
Once the fuel-quality upgrade is heightened further to meet the Euro 5 standard, demand will skyrocket, he added.
Tanit to stay on
The internal conflict at the Federation of Thai Industries shows no signs of abating, as Tanit Sorat has decided to stay on as the acting president of the FTI, saying that he is respecting the wishes of his supporters.
His backers, mostly members from the provinces, expressed their views at a meeting yesterday.
They want to dismiss Payungsak Chartsutipol, the incumbent president, and wish Tanit to represent them in lobbying for the government’s support in light of the strong baht and the minimum-wage increase.
Tanit said both sides had had several discussions, but Payungsak had turned down his group’s proposals.
Mission to Mongolia
Prime Minister Yingluck Shinawatra will lead a delegation to Mongolia during April 27-29 to explore opportunities in the fields of education, agriculture, energy, automobiles and tourism.
Thai-Mongolian trade was valued at US$13.69 million (Bt393 million) last year. Thai exports, chiefly vehicles, paper and refrigerators, were valued at $13.23 million. Thailand imported goods, mainly minerals, worth $460,000.
Aside from employees of Banpu, which owns a mining business in the country, about 40 Thais are based in Mongolia and earn a living as masseuses and chefs.
Gold slide continues
Local gold prices may fall further to as low as Bt15,700 per baht weight this year, said the CEO of Classic Gold Futures.
Nuttatee Jutavarakul said prices would continue the current downward trend for some time. If global prices fell below the psychological level of US$1,300 an ounce, local prices could drop further.
“It will take at least one to two years before gold prices can return to $1,700-$1,900 an ounce,” she said.
