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Shinkong raising resin capacity at Thai plant
Shinkong Synthetic Fibres, one of Taiwan’s leading textile suppliers, aims to expand the production capacity for polyethylene terephthalate (PET) bottle-grade resin at its Thai plant by 10-20 per cent, as the artificial-fibre industry is expected to experience a better second half of the year than the first.
The company operates production lines in Taiwan and China as well as at the Thai facility, which was opened in 1997.
Shinkong Synthetic Fibres said the artificial-fibre sector, including PET bottle-grade resin, had showed signs of recovery since May.
The Thai plant currently produces 15,000 tonnes of PET bottle-grade resin a month, with the entire output sold in the Kingdom, while the Taiwanese production lines churn out 30,000 tonnes monthly for both local and overseas markets.
Earlier this year, Shinkong Synthetic Fibre chairman Wu Tong-sheng said that with the global economy on the way to recovery, the inventory level in the China market had been on the decline.
The company is likely to see its bottom line improving later this year, given such favourable conditions, he added.
Last year, Shinkong Synthetic Fibre posted 1.42 billion new Taiwan dollars (Bt1.47 billion) in net profit, compared with NT$1.59 billion the previous year.
BTS Group a partner in Jakarta monorail project
BTS Group Holdings has signed a participation agreement as a strategic partner in the development and operation of the two lines of a new monorail project in Jakarta, running a combined length of 29.8 kilometres.
The project, which has an estimated investment value of US$800 million (Bt25 billion), is planned to be completed and open for passenger service in 2016.
BTS Group will provide operational and maintenance services under the 40-year concession.
Participation in the Indonesian venture signifies the listed company’s first step in developing overseas business opportunities, chairman Keeree Kanjanapas said yesterday.
Thanachart named adviser for Thiensurat IPO
Thiensurat has appointed Thanachart Securities as financial adviser for its initial public offering ahead of listing in the Stock Exchange of Thailand.
Thiensurat, which produces and distributes Safe-brand water filters, has set the IPO price for 86 million shares at Bt1 apiece.
The IPO proceeds will be used to increase production capacity and the number of upcountry branches, as well as for cash flow.
In the first quarter of the year, the company’s revenue was recorded at Bt252.92 million, with net profit of Bt20.87 million and assets worth Bt769.26 million.
Sansiri’s UK condo now completely sold out
Sansiri has sold all of the units at its Bt600-million UK condominium, 9 Elvaston Place, which was launched in 2010.
The project’s focus is on foreigners studying in the United Kingdom, said Srettha Thavisin, president of the listed developer.
Honda Big Wing kicks off nationwide roadshow
Celebrating its first anniversary, Honda Big Wing is running a nationwide roadshow to boost sales outside of Bangkok.
The roadshow, which begins in the North today and ends in the South on August 12, will provide a new and larger customer base as the public gets to experience the vehicles at first hand, the company said.
Honda is offering customers the option of zero-interest credit or first-class insurance for each purchase made during the roadshow. They are also eligible to win tickets for the Singapore F1 Grand Prix, and other prizes.
‘Visa Grander Sale’ under way at Terminal 21
Visa, in collaboration with the Tourism Authority of Thailand, has launched the first-ever “Visa Grander Sale” at Terminal 21, as part of the “Amazing Thailand Grand Sale”.
The three-day shopping extravaganza offers shoppers a wealth of retail promotions and privileges.
Attendees who show their Visa card will automatically receive a Bt500 or Bt1,000 cash voucher, which can be used at participating shops in Terminal 21. In addition, shoppers can show their sales slips to enjoy extra discounts of 5 per cent, 10 per cent or 20 per cent.
Vibhavadi trials system for appointment alerts
Vibhavadi Hospital has commenced a trial of the new Vensa mHealth+3 platform, which was developed in New Zealand.
Vensa is an IT-based system that sends a patient an SMS reminder of their appointment.
Managing director Chaisit Viriyamettakul said Vibhavadi Hospital supported the new system, as it had proven to be successful in New Zealand.
Creditors to meet on Saha Farm NPLs
The creditors of Saha Farm Group will discuss a solution to help the country’s biggest chicken producer and exporter overcome its problems.
A source at Thanachart Bank said yesterday that the bank had set aside loan loss provisions and debt collateral last year to cover its exposure to Saha Farm. This customer’s loan is non-performing, but the bank will not take any action against the company because it wants to give it time to solve its internal problems.
“The lenders will discuss the matter again to help the customer,” the source said.
The source declined to reveal the actual loan figure, but said the bank had closely monitored the customer since Thanachart’s merger with Siam City Bank. Saha Farm was a customer of SCIB, so the bank knows the situation at Saha Farm well.
Thanachart Bank has reported the situation of Saha Farm to the Stock Exchange of Thailand.
Krungthai Bank and the Islamic Bank of Thailand are other lenders of Saha Farm.
A KTB source said Saha Farm was working on its problems and the bank stood ready to assist the customer.
Panya Chotitawan, group chairman, told Thai Rath newspaper that the company was in the process of solving its liquidity problem and planned to sell some assets as part of the solution to pay salaries to employees.
Mobile Cabinet
The government plans a mobile Cabinet meeting in Ayutthaya from July 18-19.
Prime Minister Yingluck Shinawatra and her ministers will visit four central provinces – Ayutthaya, Nonthaburi, Pathum Thani and Saraburi.
On July 18, there will be a joint meeting with business operators in the provinces.
There will be no Cabinet meeting at Government House next week. All agenda items will be discussed at the mobile Cabinet meeting in Ayutthaya, Deputy Government Spokeswoman Sunisa Lertpakawat said yesterday.
