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TrueVisions to suspend programming for upgrades to HD broadcasting
From midnight on September 11 until 8am on September 12, TrueVisions will cut off its broadcasting to enable channel renumbering.
The renumbering will occur as the satellite TV operator upgrades six standard-definition channels – ASN, SETANTA, True Tennis, Lifetime, Life Inspire and CNN – to high definition on September 12. The company said subscribers would not be charged extra for the upgrade.
IP Department to shorten procedures
The Intellectual Property Department has invested Bt70 million to upgrade its information-technology system to enable it to shorten the process for IP rights registration.
The time it takes to register a trademark will be reduced from an average of 12-16 months to just six months, for innovation patent registration from 48-60 months to 24 months, petty patents from 12 months to six months, and design patents from 18 months to 12 months.
The department hopes the streamlining will help ensure the country’s competitiveness in the Asean Economic Community.
The IP Department is projected to increase its income by 15 per cent a year. Its income from IP rights registration rose 8.46 per cent year on year to Bt385.96 million in the first seven months.
AP (Thailand) issues debenture
AP (Thailand) has issued a four-year debenture worth Bt1 billion, offering a coupon of 4.52 per cent per annum, according to its filing to the Securities and Exchange Commission. The interest will be paid every six months. The debenture is being offered until tomorrow at Kasikornbank and United Overseas Bank branches.
The property developer’s debenture was assigned a rate of “A- stable” by TRIS Rating. The funds raised from the debenture will facilitate land purchase, debt repayment and working capital.
Fund-raising plan put on hold
Christiani & Nielsen (Thai) has postponed its fund-raising plan until the stock market recovers. But it will proceed with a planned roadshow in Hong Kong this month.
The construction contractor earlier planned to raise funds through the private placement of 175 million shares in the current third quarter. However, the plunge in the stock market brought down the company’s share price from Bt13 earlier this year to Bt5, said assistant managing director Surasak Osathanugraha.
“Our shares have become too cheap,” he said yesterday.
CNT needs funds for new machinery and equipment and working capital.
Hom Mali rice promoted at expo
The Foreign Trade Department has joined this week’s 10th China-Asean Expo in Nanning to promote Thai jasmine or Hom Mali rice.
Pranee Siriphand, director-general of the department, said China had high demand for Thai rice. However, because some importers have mixed Hom Mali rice with other
grains, its image and reputation for quality have been damaged.
At the expo, which runs from today to Friday in Nanning, southern China, the department will publicise Thailand’s efficiency at supplying quality rice to that country. It will also show the differences between Thai rice and others. Although the price of Thai rice is quite high, its quality is a selling point to discriminating consumers.
China is the world’s largest rice importer at about 3 million tonnes a year.
Thai AirAsia resumes flights to Khon Kaen
Thai AirAsia, the largest low-cost carrier, has resumed its Khon Kaen route, which was launched eight years ago but soon grounded due to low demand.
CEO Tassapon Bijleveld said yesterday that the market was now ready for budget flights. The northern province is a hub for education and commerce, which helps drive passenger demand.
The service will kick off on October 28, with twice daily flights from Don Mueang International Airport. The cabin factor was projected to reach 80 per cent in the first three months of its launch and 85 per cent in six months’ time.
In the rest of this year, its outlook is still positive with proof of better advanced bookings in the last quarter than the same quarter last year. For the whole year, the carrier can carry 10 million passengers as projected, up from 8 million a year earlier.
Possible political demonstrations, rising oil prices and the threat of a civil war in Syria have not buffeted its operation. To manage fuel costs, the firm uses hedging and can accept the risk from price rises of 10-15 per cent.
Next quarter, the airline plans to take delivery of five new aircraft, bringing its fleet to 35.
The firm is turning 10 years old next year and has been promoting its corporate image. And for the first time, the firm has hired a superstar – Nadech Kugimiya – to be a presenter to show the airline’s fun and friendly character.
Central keeps food prices
Central Food Retail, the operator of Central supermarkets and food courts, has asked food tenants to maintain their prices despite the hike in cooking gas costs.
Pattaraporn Penprapat, deputy managing director for marketing and public relations, said no vendors have expressed plans to raise prices. The price maintenance period will depend on operating costs.
Dishes at the food courts are sold for an average Bt40-Bt45, but the Bt35 economy price is also available, as requested by the Commerce Ministry.
WHA infrastructure fund
SET-listed company WHA Corporation aims to establish an infrastructure fund after forming 16 joint venture companies with two listed solar farm companies to produce solar power under the solar-roof project.
Somyos Anantaprayoon, chairman of WHA, said the 16 subsidiaries will strengthen its plan to bid for the “Solar PV Rooftop” projects of the Metropolitan Electricity Authority and the Electricity Generating Authority of Thailand (EGAT).
WHA yesterday reported to the Stock Exchange of Thailand that the company and two of its partners, Gunkul Engineering and SPCG, will carry out the solar roof production project.
Six of 16 new companies are joint venture companies between WHA and Gunkul while the other 10 companies were formed between WHA and SPCG.
Each subsidiary has a registered capital of Bt100,000, in which WHA holds 75 per cent stake.
Debt-collection pact
Debt collection and non-performing loans management firm JMT Network Services Plc last week signed an agreement on the assignment of personal loans and credit cards with Thanachart Bank.
The outstanding debts according to the contractual right is valued at Bt186 million.
Daily inspections to follow cooking-gas price rise
The Internal Trade Department will send 15 teams to inspect LPG stations and liquefied-petroleum-gas tanks every day to prevent overcharging after the price of cooking gas will continue to increase by 50 satang a kilogram every month starting this month.
For each 15kg tank, the price will rise by Bt7.50 from about Bt290-Bt315 .
Wiboonlasana Ruamraksa, director-general of the department, said yesterday that it had found five companies breaking the law by overcharging.
Gas-container and food retailers should not increase prices above their costs, otherwise they could face punishment under the Goods and Services Prices Control Act.
The incremental increase in the gas price will push food prices up by only 0.025 satang a dish, the Commerce Ministry claims.
Credit Suisse lowers forecast
Credit Suisse has lowered its forecast for growth in Thailand’s gross domestic product this year to 2.7 per cent from 4 per cent after examining the key monthly macro data for July. Indictors on exports, production and domestic demand generally surprised on the lower side.
GDP posted very weak growth in the second quarter and a slow start to the third, leading to the revision. However, the house said it still believed sequential GDP growth would improve in the second half as industrial exports recovered, though growth in domestic demand would be subdued.
It sees room for the Bank of Thailand to cut the policy interest rate by 25 basis points from 2.5 per cent at the October 6 meeting of its Monetary Policy Committee, given the downside risk, official growth estimates, benign inflation outlook and softening credit growth.
“It is important to stress that the main story has not changed significantly,” Credit Suisse said. GDP growth is being dragged down by soft consumer spending, especially by rural households, and delays in investment, while exports will provide a boost to growth momentum in the second half.
“The downgrade simply reflects weaker-than-expected second-quarter … momentum and a slower-than-anticipated rebound in July.”
Telecom regulators file suit
Four of the five members of the National Broadcasting and Telecommunications Commission’s telecom committee and the NBTC secretary-general have jointly filed a criminal charge of defamation against Deunden Nikomborirak, a researcher for the Thailand Development Research Institute, and Natta Komolwatin, a news anchor at Thai PBS.
The allegation, filed last week, referred to Deunden’s comments in some newspapers and on a Thai PBS programme at which Natta is the moderator that the NBTC’s delay in the auction of fourth-generation wireless broadband licences could cost the country about Bt160 billion.
The NBTC has agreed to ensure continuing service to subscribers of TrueMove’s and Digital Phone Co’s mobile operations after their concession ends on September 15. The commission will allow the companies and their concession owner CAT Telecom to continue serving these users for one more year after the expiry date on 1,800 megahertz, which could have been used to provide 4G service.
The four commissioners joining in the complaint were telecom committee chairman Settapong Malisuwan and members Suthiphon Taveechaiyagarn, Prasert Silphiphat and Sukit Khamasundara. Takorn Tantasit is secretary-general of the NBTC.
