briefs

Thailand has decided to impose 8.76-11.76 per cent anti-dumping duty on steel imports from China, Taiwan and Vietnam in order to protect domestic industry, Commerce Minister Boonsong Teriyapirom said.

The decision was made after an investigation found that a significant amount of steel from those markets has been imported to Thailand since last August last year. Chinese and Vietnamese steel will face a levy of 11.76 per cent, while Taiwanese steel will face an 8.76-per-cent mark up from the CIF price (cost, insurance, and freight).

Since August, demand for steel imports from the three markets has increased by 57.66 per cent to 238,000 tonnes. Thailand’s reliance on imported steel has risen to 49.33 per cent, up from 33.46 per cent last year.

Meanwhile, Thailand has decided to continue its safeguard measures on glass block from China and India for another three years from January 15, 2014 to January 14, 2017 to protect local manufacturers.

The duty will be imposed at 27.5 per cent, 26 per cent, and 24.50 per cent above the CIF price over the course of the three years. 

 

ThaiBev to reduce stake in F&N

Thai Beverage Plc will reduce its stake in Fraser and Neave (F&N) from more than 90 per cent within three months, said Vichet Tantivanich, senior vice president of ThaiBev.

To comply with the regulation of the Singapore Exchange (SGX), on which it is listed, ThaiBev has three months to reduce its shareholding in F&N. The group earlier reported to the exchange that it will not de-list F&N.

ThaiBev is looking at many options for reducing its stake, including selling stakes to funds or strategic partners, or selling shares in the stock market.

Owned by Thai liquor tycoon Charoen Sirivadhanabhakdi, ThaiBev holds more than 90 per cent in the Singapore drinks-and-property conglomerate after winning a takeover battle in a deal worth of more than US$10 billion (Bt300 billion) in February.

ThaiBev’s stock price yesterday closed at 0.585 Singapore dollars, up by 0.86 per cent, while F&N’s stock price fell by 0.49 per cent to S$8.110.

 

Pansak sues Senate speaker

Pansak Chantapanya filed a lawsuit against Senate Speaker Nikom Waiyaratphanich with the Central Administrative Court yesterday for approving the appointment of Prasert Apipunya as a member of the committee evaluating the National Broadcasting and Telecommunications Commission (NBTC)’s performance. The complaint alleges that Prasert did not meet the qualifications for the position as defined under the Frequency Allocation Law.

Pansak was one of 10 finalists for five seats on the committee – known as a “superboard”. 

The law obliges all five superboard members to resign from their previous posts within 15 days of being appointed by the Senate in order to assume superboard posts. The Senate appointed the five on April 9. Pansak said Prasert remains NBTC acting secretary-general, citing the endorsement by NBTC secretary-general Takorn Tantasit of Prasert’s resignation as taking effect on May 17. Prasert submitted the resignation on April 17. 

Prasert said his resignation fully complies with the regulations of the Office of the Civil Servant Commission.

 

Central plans 2 new malls

 

Central Pattana Plc plans to launch two new shopping centres in Salaya district of Nakhon Pathom province, and Surat Thani province’s Koh Samui.

This is a part of its business plan to open seven new branches nationwide this year and next. 

The company also owns more than 100 rai of land in Rang Sit district. It plans to open a mixed-used project there this year.