Briefs
Ministries join for agricultural census
The Ministry of Information and Communication Technology has joined forces with the Ministry of Agriculture and Cooperatives in conducting a survey to create Thailand’s Agricultural Census 2013.
Census teams, popularly known as “Khun Madee” teams, are scheduled to meet farmers throughout Thailand throughout this month.
ICT minister Anudith Nakornthap said the aim of the survey, conducted by the National Statistical Office under the guidance of his ministry, would be to assess the country’s basic agricultural infrastructure.
The results are expected to provide a thorough understanding of the needs of Thai farmers and help the government provide necessary assistance.
SET drops more than 8 points on heavy selling
Foreign investors and local financial institutions recorded net sells of Bt151 million and Bt1.9 billion respectively, forcing the Stock Exchange of Thailand to drop 8.67 points and close at 1,589.19 yesterday.
Meanwhile, securities accounts and local investors recorded net buys of Bt4.89 million and Bt2.12 billion respectively.
S&P revises its outlook down
Standard & Poor’s Ratings Services revised its outlook to “stable” from “positive” and affirmed the global-scale ratings on four Indonesian entities after similar action on Indonesia’s sovereign credit rating (“BB+/stable/B”; “axBBB+/axA-2”).
At the same time, the company affirmed the Asean regional scale ratings on three of these entities, but lowered the Asean regional scale rating on one.
ING Life appoints new CEO
ING Life has appointed the former head of Krungthai-AXA Life, Mike Plaxton, as its new chief executive officer effective on May 1.
Plaxton has more than 40 years of experience in the insurance industry, the last 18 years in Asia.
He started his insurance career in Europe and moved to Asia in 1995. He has held several important management and leadership roles in Europe, Singapore, the Philippines and Thailand. Plaxton joins ING Life Thailand from AXA after working there for almost nine years. His most recent role was as regional distribution director for AXA Regional Office.
Property fund to list
The Stock Exchange of Thailand will list the KPN Property Fund, managed by Kasikorn Asset Management Co with an estimated worth of Bt1.8 billion, on its main board today, under the ticker “KPNPF”.
“KPNPF is the second property-fund listing on the Thai bourse this year, and will be in the Property and Construction Industries Property Fund Sector,” said SET senior vice president Paveena Sriphothong. “It sold 180 million units via initial public offering at Bt10 per unit, with a total worth of Bt1.8 billion, between March 28 and April 11.”
Chongrak Rattanapian, executive chairman of KAsset, said KPNPF, a closed-end property fund, invested in the freehold rights of land including utilities, equipment and the building of KPN Tower, located on a junction of Rama IX Road, the site of the upcoming MRT Orange Line’s Pradit Manutham station.
Exim net soars
The Export-Import Bank of Thailand made a net profit of Bt398 million in the first quarter, an increase by 150.45 per cent year on year, on higher interest income after the expansion of project finance for national development.
According to the bank president Kanit Sukonthaman, at the end of March, Exim Bank’s total outstanding loans expanded by Bt1.562 billion to Bt65.933 billion, or 2.43 per cent compared with the corresponding period last year. Non-performing loans stood at Bt3.598 billion, equivalent to 5.46 per cent of total loan.
