Briefs
Play
SET slide puts off K-water IPO
CK Power’s initial public offering has been postponed due to the unfavourable market.
Optimisation planning is required so that all investors can gain maximum benefits, Kongkiat Opaswongkarn, CEO of Asia Plus Securities, a co-lead underwriter for the IPO, said yesterday.
The Thai stock market has been highly volatile during the past few weeks and has yet to regain its normal conditions. Despite the unchanged fundamentals of CKP, unfavourable market conditions have cropped up as uncontrollable external factors.
The lead underwriters have advised CKP that its IPO schedule was not optimal and it should wait until better timing can be determined for the offering to achieve the best possible results and maximum benefits for all investors. The new IPO schedule will be released in due time.
Bualuang Securities, KT Zmico Securities and SCB Securities are the other lead underwriters.
Mission to Myanmar
The Board of Investment will arrange for a business delegation to explore opportunities in the consumer product market in Yangon and Mandalay in Myanmar from July 15-19.
It will also visit the Mingaladon Industrial Zone in Yangon, which promotes the textile, food, leather ware and plastic products businesses.
Thailand is the largest investor in Myanmar, pouring in US$5.97 billion from 2007 to last year, followed by Singapore at $3.71 billion and Hong Kong at $2.64 billion. Most Thai investment is in the mining, petroleum, fishery, wholesale and retail industries.
Gulf Energy wins 3rd round of bid
Gulf Energy won the third-round bid of the IPP (independent power producer) contract with the lowest price of Bt4.2372 per unit or a total of Bt32.16 billion, said Energy Minister Pongsak Ruktapongpisal, who insisted that the bidding was transparent. Gulf was the sole winner of the bid for the contract to generate 5,000 megawatts.
The price of the second-lowest bid was Bt4.2662 per unit, he said.
Banker probed
The Finance Ministry on Friday set up a committee to investigate the work of the former president of Islamic Bank of Thailand, Thanin Angsuwarangsi, who resigned last week because of pressure from employees.
Finance permanent secretary Areepong Bhoocha-oom said the investigation would focus on employees’ petitions, which must be clarified though Thanin has resigned.
Certified palm oil
Univanich Palm Oil announced Thailand’s first sale of oil certified by the Round Table for Sustainable Palm Oil (RSPO) for export.
The consignment of 1,000 tonnes of crude palm oil is the first shipment under the strict sustainability standards set by the RSPO.
The oil will be shipped to Europe from the company’s Krabi port of Laemphong in mid-July.
China subsidiaries
Charoen Pokphand Foods has expanded further in China by forming two new subsidiaries despite the economic slowdown in that country.
The company reported the move to the Stock Exchange of Thailand yesterday. Zhoukou Chia Tai Co was formed with registered capital of 50 million yuan (Bt252.43 million) to produce and distribute animal feed.
