Quick News

The Business Development Department, in cooperation with the Corrections Department, has launched a programme for the employment of prisoners by small and medium-sized enterprises in order to ease the labour shortage.
 The Corrections Department will contact SMEs about employing prisoners to help them meet production orders, Deputy Commerce Minister Natthawut Saikua said yesterday.
The project will not only ease the labour shortage, but create jobs for inmates so that they can return to society with brighter opportunities, he said.
 Interested businesses can contact the department at (02) 547 5950, (02) 595 355 or through its 1570 hotline number.
 
Agricultural-machinery driving school established
In a joint quest to modernise the agricultural sector, Siam Kubota and the Skill Development Department have established Thailand’s first agricultural-machinery driving school. Farmers will be trained on four machine types – tractor, combine harvester, rice planter and mini-excavator – and win the department’s accreditation for passing the course.
“Presently, Thailand’s agricultural sector is facing a labour shortage. Meanwhile, some farmers do not know the correct way to use agricultural machines due to a lack of expertise and professionals who can instruct them in proper use, resulting in damage to the machines or accidents. The farmers eventually have to unnecessarily pay for the maintenance cost and parts replacement,” said Siam Kubota’s customer service division manager, Somsak Mauthorn.
The initiative is aimed at helping farmers to earn more by using and maintaining the agricultural machinery properly, which will increase productivity and avoid the problems rooted from improper use and maintenance.
 
MoU with fresh markets to keep lid on food prices
The Commerce Ministry has signed a memorandum of understanding (MoU) with 13 fresh markets to ensure that they sell food at a fair price amidst increased concern over the rising cost of living.
Deputy Commerce Minister Yanyong Phuangrach yesterday said the selling price under the MoU would be Bt25-Bt35 per menu at fresh markets, which should help consumers at a time of higher living costs.
The markets covered by the MoU include Ying Charoen, Min Buri, Si Mummuang, Khlong Toei, Tevaraj, Bang Yai, Prachaniwet, Ratchadaphisek, Arun Ammarin, Thon Buri, Bang Kapi and Nong Chok.

Warm response to infrastructure fund

The Bt6.3 billion Amata B.Grimm Power Plant Infrastructure Fund has met enthusiastic interest from both individual and institutional investors, with its initial public offering from September 9-13 1.5 times oversubscribed.
“The response that has been better than expected is believed to have been resulted from investors who prefer an investment that has stable returns over the long term,” Chongrak Rattanapian, executive chairman of Kasikorn Asset Management, said yesterday.
The closing price per unit is Bt10.50.
“Amata B.Grimm Power 1 and 2 have two long-term contracts to sell electricity to the Electricity Generating Authority of Thailand and several industrial factories in Amata Nakorn Industrial Estate. This presents a good choice of investment, which is suitable for the current market condition, which is very volatile,” he said.
Investors will have another opportunity to buy this mutual fund when it starts trading in the energy sector on the Stock Exchange of Thailand on September 27 under the ticker symbol ABPIF.

Nod to BMTA’s refinancing plan
The Cabinet on Tuesday approved the Bangkok Mass Transit Authority’s Bt20 billion refinancing package for fiscal 2014, including Bt3 billion for interest expense. In the fiscal year, BMTA, which operates public buses in Greater Bangkok, expects to generate Bt8.3 billion in revenue against Bt32.66 billion in expenses. BMTA shoulders Bt2.26 billion in overdue fuel debt, Bt1.35 billion in maintenance expenses and Bt247 million in employee pensions.
However, the Cabinet slashed the subsidy for free-train services for the poor from Bt5 billion to Bt2.97 billion. The subsidy is for fiscal 2013.
The State Railway of Thailand’s request for Bt535 million for basic infrastructure and Bt502 million for its pension fund was denied. Its depreciation expense was cut from Bt617 million to Bt58 million and interest expense from Bt293 million to Bt86 million.

SEC backs e-filing of financial reports
The Securities and Exchange Commission, Business Development Department, Commerce Ministry and 10 public and private sector organisations have joined to implement electronic financial statement filing.
“The project is expected to lead to more efficient information services and accuracy of financial statement information, less time-consuming procedures and lower cost for the public and private sectors,” Vorapol Socatiyanurak, secretary-general of the SEC, said yesterday.
The SEC gave advice on standardising taxonomy by taking into account legal requirements. It also supports financial statement data linkage through a single-point e-Filing system available in many languages to facilitate accurate analysis of financial statements.