Briefs

The book that boosted the shares

Kasikornbank chairman Banthoon Lamsam became a bit of a celebrity – busy signing autographs – as soon as his first novel hit the shelves in May. 

Now the novel has gone into the third print, and it is expected that more readers will be queuing up for his autograph. Though he’s loving the attention, Banthoon has said that “The Seductive Spell of Lanna”, a fantasy based on an Eastern Lanna legend, might be his last novel. The writing took 13 months in all – far too long for a banker to whom every minute counts. 

In a recent conversation, he admitted that writing was one of the many things he loved doing. Well, it is part of a very long list of things he wants to do, which certainly does not include “banking”. Yet, the day after his book was launched, the price of KBank shares jumped. Somehow, the novel was right for his bank. 

“The shareholders must have been pleased that the bank’s chief was in a good enough mood to write a novel. This means there were no headaches waiting for him at the bank,” he laughed. 

 

Yanyong: perfect for his post 

There are several reasons as to why the Commerce Ministry’s former permanent secretary Yanyong Phuangrach decided to add extra spice to his life by accepting the offer to become deputy commerce minister in Prime Minister Yingluck Shinawatra’s fifth Cabinet reshuffle. 

Firstly, when he was appointed to the top job at the ministry during Abhisit Vejjajiva’s government, Yanyong publicly announced his support for the rice-pledging project. Needless to say, this infuriated some ministers in the Abhisit government, which had replaced the rice-pledging scheme with its very own price-guarantee scheme. Yanyong hit the headlines when he expressed opposition to the government’s guarantee scheme. So, perhaps, this is the perfect time for him to step in now that the Pheu Thai-led government is being hit hard by the mess left behind by the rice-pledging scheme. 

Secondly, Yanyong considers himself an expert, considering he is an upcountry boy from Si Sa Ket, on one of the provinces in the Northeast where most farmers grow rice. 

Thirdly, this retired official is known for his calculating character. After decades in civil service, he has developed a unique style of communicating with the press. He knows what the press is after and he handles them well. 

During his time as deputy permanent secretary, he also learned how to wisely avoid legal complications. The law graduate from New York University then led the ministry’s investigation on the Kularb Kaew nominee case. If the ruling had decided that Kularb Kaew violated the Foreign Business Act, it would have led to further investigations in a large number of Thai firms. As luck would have it, he was transferred to another job just before the investigation committee could come up with a ruling. 

People close to Yanyong admit that he is a smart guy. During his school years, he won the admiration of all his friends and was a natural leader. People knew he would flourish in civil service. 

Now, we need to see what kind of politician he becomes. Will his help on the rice issue be enough to bolster his reputation, especially at a time when the ministry has to deal with a lot of other important issues, chiefly the rising cost of living? 

 

Wonders in airline business 

Today, Thai AirAsia is holding a press conference about something positive: the budget airline is launching new routes in Indochina. Earlier this month, the press was given some dismal news concerning Thai Airways. The national carrier reported a poorer performance than expected in the first half. 

Could this be because low-cost airlines’ margins are higher than big carriers? This might be the case. Air France-KLM recently announced that its June traffic rose by 2.5 per cent, while load factor stood at 85.2 per cent. Yet, its revenue per seat kilometre dropped year on year. 

It looks like passengers these days don’t want any frills at all. 

 

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