Briefs

The Revenue Department will speed up the development of its IT system for tax collection, in order to increase its revenue base and improve transparency in revenue collection.
The department believes that its Bt2-billion investment in the IT system will allow it to expand its revenue base by more than 10 per cent, especially for cash-transaction businesses such as food shops and beauty clinics which are currently outside the tax system.
Jitmanee Suwannapool, principal adviser on tax base management, said the department is processing a procurement contract with IT entrepreneurs who will make the tax collection system more efficient – especially for cash transaction activities. The new system will be connected with the database of taxes involved in both buying and selling, and will include all trading activities made with cash transactions.
She said the new system will require Bt2 billion of investment and will be in operation from the beginning of next year.

NPS to discuss rate hike
Independent electricity provider National Power Supply (NPS) will negotiate with the Energy Regulatory Commission, asking for an increase of 8 satang per kilowatt-hour to compensate for the higher cost of constructing a new power plant.
NPS chairman Sitthiporn Rattanopas said last week that an Environmental Health Impact Assessment (EHIA) for its coal-fired power plant with a capacity of 600 megawatts is expected to be completed this October.
After that, the company will start sign a Power Purchase Agreement with the Electricity Generating Authority of Thailand before starting construction of the plant, which is expected to take 30 months.
Output will be delayed for around four years from the original scheduled completion date of November this year. Therefore, the company has had to review its electricity prices to offset the rising costs of the land, the grid system and inflation.

Seamico to sell new shares
Seamico Securities (ZMICO) has announced that it will sell 350 million newly issued ordinary shares through a private placement offering at a minimum price of Bt2 per share, higher than the current market price.
The company aims to raise funds of Bt700 million to expand businesses in the Indochina region and prepare for the Asean Economic Community (AEC).
Chaipatr Srivisarvacha, chief executive officer of ZMICO, said the board of directors approved the capital increase via private placement in order to invest in business opportunities both in Thailand and in Indochina markets.

New Krungthai fund
Krungthai Asset Management has announced plans to launch Krungthai Thanasap B63 Fund, worth Bt7 billion – guaranteeing a return of about 3 per cent per annum.
Some 70 per cent of the 1-year fund will be invested in local and foreign bonds. The rest will be invested in Euro-Commercial Paper (ECP), guaranteed by VTB Bank and Banco BTG Pactual.