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Bangkok Bank funds biomass power plant in Samut Sakhon with Bt537-million loan
Bangkok Bank has signed an agreement to lend Bt537 million to support Mahachai Green Power’s biomass power plant in Samut Sakhon.
The 9.5-megawatt plant will use coconut mass as fuel to produce electricity to sell to the Provincial Electricity Authority. The project is located in Muang district.
Mahachai Green Power was established by four partners including TPC Power Holding, EnBW AG, NC Coconut and Green Power Producer Group with registered capital of Bt20 million and a plan to raise that to Bt210 million by next year.
CPF earmarks 1% for R&D
Charoen Pokphand Foods aims to allocate 1 per cent of its revenue for research and development for innovative product development critical for business sustainability.
CPF has spent more than Bt500 million per year for R&D, senior vice president Viroj Kumpeera said.
It plans to introduce 1,000 innovations over the next five years.
Muang Thai Life on LINE
Muang Thai Life Assurance Co had more than 7.3 million LINE Official Accounts as of last month.
Social media are part of the close relationship between the company and its customers, the president and CEO Sara Lamsam said.
CS Loxinfo reports 2Q profits
CS LoxInfo reported consolidated net profit for the second quarter of Bt114 million or Bt0.19 per share.
As a result, CSL enjoyed consolidated net profit for the first half of Bt260 million or Bt0.44 per share. Net profit from operations was Bt237 million, an increase of Bt31 million or 15 per cent from the first half of 2012.
TAT launches Siamese cat bag
The Tourism Authority of Thailand (TAT) is launching a new line of promotional Amazing Thailand paper bags to promote its “Thainess” concept by featuring the traditional Siamese cat on both sides.
The cat is of the Wichian Mat breed and will be on both large and small bags to be distributed to various government offices and companies wanting to use the bags for promotional purposes.
The Wichian Mat has brown fur with black and white tints and blue eyes. The breed won a cat contest in London, which led to the founding of a Siamese Cat Lovers Club overseas.
The Siamese-cat Amazing Thailand bags will be given out at travel shows and tourism roadshows that TAT will attend starting this month.
Govt demands price cut for Purple Line section
The government needs Bangkok Metro, the operator of the capital’s MRT subway, to cut its quote by Bt500 million for the contract to build and operate the Bang Yai-Bang Sue section of the Purple Line, Transport Minister Chadchart Sittipunt said yesterday.
This came after the meeting of the third screening committee for economic proposals on Wednesday, chaired by the finance minister, agreed that the price should be cut.
The government requires a Bt500-million price cut, while the latest price cut was agreed at Bt320 million from Bt83.31 billion to Bt82.99 billion.
GMS investment approved
The ministers at the fifth GMS Economic Corridors forum have approved a five-to-10-year, US$52.7-billion (Bt1.65-trillion) regional investment for transport, energy and agriculture projects.
Thailand’s share is $5.8 billion, Deputy Agriculture Minister Varathep Rattanakorn said yesterday. This investment will be proposed for official approval at the 19th GMS (Greater Mekong Subregion) Ministerial Conference in Laos in December.
The breakdown is $43.20 billion or 81.9 per cent for transport, $4.43 billion or 8.4 per cent for energy, $1.26 billion or 2.4 per cent for agriculture, $740 million or 1.4 per cent for tourism, $580 million or 1.1 per cent for urban development, $580 million or 1.1 per cent for telecommunications and $5.80 billion or 11 per cent for various industries.
Lower ad spending forecast
The Media Agency Association of Thailand will lower its estimate of advertising spending via all kinds of media this year because of the slow growth in the economy and consumption.
President Wannee Ruttanaphon said yesterday that the signs of the decline had been witnessed since the first quarter.
This year, growth in advertising investment via key media such as TV, radio, newspapers, magazines, cinemas, billboards, out-of-home media, transit media, in-store media and the Internet will potentially reach about 3 per cent.
This is down from the 10-per-cent growth projection made early this year. – Watchiranont Thongtep
NBC’s net profit up 2% in first-half
Nation Broadcasting Corporation reported revenue of Bt340.9 million for the first half, down by 5 per cent from the same period of last year.
But the company’s net profit recorded Bt31.94 million, up 2 per cent year on year.
Mini Countryman produced in Rayong
Because of strong domestic and regional demand for Mini vehicles, BMW Group has decided to commence assembly of its Countryman models at its Rayong plant.
The Cooper Countryman, Cooper D Countryman and Cooper SD All4 Countryman make up the Countryman line-up in Thailand, which are assembled from CKD (completely knocked-down) kits.
The new assembly capability will help meet steadily increasing domestic demand for Minis, Matthias Pfalz, president of BMW Group Thailand, said yesterday.
Coffee prices probed
The Consumer Protection Board will ask coffee shops to explain their costs after complaints that some shops at petrol stations, tourism sites and shops on main roads sell coffee at unreasonably high prices. If they fail to come up with a good explanation, the board will ask the Internal Trade Department to seek ways to control their prices, secretary-general Jirachai Moontongroy said yesterday.
SEC orders special audit
The Securities and Exchange Commission ordered Millcon Steel to arrange a special audit by either the auditor who analysed the company’s 2012 financial statements or any other auditor on the SEC’s approved list who also works for a leading accounting firm.
The special audit will cover transactions with business partners, which may be considered related parties, and share dilution in Million Miles Co, formerly a subsidiary of Millcon. The company must submit the special audit report to the SEC by October 7 and disclose it via the Stock Exchange of Thailand’s information disclosure system.
