Briefs
Dong Feng boosts mini-truck output
Dong Feng Motors (Thailand) plans to spend Bt200 million to expand it production line for mini trucks to 11,000 units a year to serve both the domestic and export markets.
The company aims to boost sales by 50 per cent to 4,500 units this year, managing director Pittaya Thanadamrongsak said yesterday. Dong Feng ranks third with 23 per cent of the market for 15,000 mini trucks a year.
Nod for logistics plan
The committee for the development of a national product transport management system chaired by Deputy Prime Minister Kittaratt Na-Ranong yesterday approved the PM’s Office’s draft regulations for the National Single Window.
The service integrates electronic information on imports, exports and logistics to create a paperless working process.
The regulations are aimed at promoting the integration of e-documents of all state agencies regarding imports, exports and logistics. It will help companies save the cost of paper documents. The Finance Ministry will work out the details of this draft to be presented to the Cabinet.
TBank ratings upheld
Fitch Ratings has affirmed Thanachart Bank Plc’s Long-Term Issuer Default Rating (IDR) at “BBB-” and Thanachart Capital Plc’s (TCAP) National Long-Term Rating at “A(tha)”. The outlook is negative. Fitch has also assigned a Support Rating Floor of “No Floor” to TCAP.
TBank’s key rating drivers – IDRs, viability rating and national ratings – reflect its moderate domestic franchise, but leading market position in auto hire purchases. The ratings also take into account strong ordinary support, particularly in operation and risk management, from Bank of Nova Scotia (BNS; AA-/Stable).
Project vetoed
The Cabinet yesterday vetoed a towering elevated expressway project near Kasetsart University in northern Bangkok and agreed in principle to build a monorail instead.
The university opposed the project, but simply scrapping the 19.2-kilometre N1 Section (Bang Yai-Kasetsart) of the Phase III expressway project.
Bank chief quits
Thanin Angsuwarangsi has stepped down as president of Islamic Bank of Thailand after serving only six months in office.
Thanin allegedly ordered bank executives to cancel a lending and loan disbursement procedure, which affected borrowers financially and resulted in higher non-performing loans.
