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Appliance, electronics exports expand just 1% to Bt391.9 bn in first quarter
Exports of electrical appliances and electronic goods increased only 1 per cent year on year to Bt391.9 billion in the first quarter.
The Electrical and Electronics Institute reported that electrical appliances accounted for Bt167.1 billion of total exports, up 4 per cent from the same quarter of last year, while Bt224.7 billion were electronic products, up 1 per cent.
About 17 per cent of the exports went to the United States and Asean, 14 per cent to Japan, 12 per cent to the European Union and 7 per cent to China.
Asean was the biggest export market for electrical appliances, accounting for about 19 per cent, while the US was the biggest export market for electronic products, accounting for 22 per cent.
The institute expects exports of electrical appliances and electronics products to expand 2.54 per cent to Bt1.73 trillion this year.
Tesco Lotus fund reports net 2012 profit of Bt1.24 billion
Tesco Lotus Retail Growth Freehold and Leasehold Property Fund posted total investment income of Bt1.79 billion and net profit of Bt1.24 billion last year.
TLGF will pay a fourth-quarter dividend of Bt0.1801 per investment unit on May 20 and return cash from a capital reduction of Bt0.0209 per unit on May 21, bringing total earnings for the year to Bt0.69 per unit, Somchai Boonnamsiri, chief executive officer of Krung Thai Asset Management, the fund manager, said yesterday.
TLGF invested in 22 Tesco Lotus hypermarket-anchored shopping malls in prime locations, including Bangkok, major upcountry cities and tourist destinations.
TLGF is the largest property fund in the country, with a market capitalisation of more than Bt35 billion.
“The first-year’s results have proved that TLGF invests in high-quality assets run by a professional team at Tesco Lotus,” Somchai said.
“We are confident TLGF remains a good investment option, offering secure and stable returns,” he added.
Knauf Gypsum opens new plant at Hemaraj complex
Knauf Gypsum (Thailand), a subsidiary of Knauf Group, recently held the grand opening of its production facility at Hemaraj Saraburi Industrial Land. Germany-based Knauf is an innovative leader and a respected name in the building industry.
With this 35-rai (5.6-hectare) plant that conforms to the strictest environmental standards, Knauf says it aims to increase the company’s manufacturing capacity for construction materials to meet the growing demands of various markets in the region.
Wayne Studdon, president and director of Knauf Gypsum Indonesia, was in Thailand for the ceremony.
SET Index climbs 0.43% from Wednesday
Thai stocks’ momentum gathered steam yesterday, sending the SET Index to an intra-day peak of 1,625.84 before closing at 1,621.12 points, or 0.43 per cent higher than on Wednesday.
Trade value on the Stock Exchange of Thailand yesterday was Bt52.16 billion.
Montara to go online soon
PTT Production and Exploration expects its Montara field in the Timor Sea off Australia to start production this month on anticipation of reaching maximum capacity of 25,000 barrels per day late this year.
Tevin Vongvanich, PTTEP’s president and chief executive officer, said that initially, the Montara field would produce about 10,000 barrels per day of crude oil, and that would be a positive factor for the company’s 2013 financial performance.
Other positive factors include estimates of higher production from the Arthit and South Bongkot fields in the Gulf of Thailand.
Tevin has declined to comment about PTTEP’s estimated performance in the second quarter, given such negative factors as the shutdowns of some fields for maintenance.
PTTEP expects to finalise a partnership for liquefied-natural-gas technology for floating LNG production in Australia’s Cash-Maple field late this year, while its construction will likely be decided on in late 2014.
In Myanmar, PTTEP may bid for more concessions, both onshore and offshore, aside from its two existing onshore fields.
Palm fruit subsidy
A committee of the Commerce Ministry yesterday agreed to increase the subsidy for palm fruit for another 50,000 tonnes until the end of June, after the initial subsidy project ended in April.
The committee aims for a guaranteed price of Bt4 a kilogram for palm fruit.
Commerce Minister Boonsong Teriyapirom said the government would spend another Bt1.25 billion for additional subsidy of palm fruit. It has already spent Bt1.2 billion to purchase 50,000 tonnes of the produce.
Under the project, only farmers with a plantation area of less than 50 rai (8 hectares) can apply for the subsidy.
The current market price for palm fruit is Bt2.99 a kilo, driven down by lower fuel prices.
