Quick news
Play
Thaicom, US firm ink on in-flight Wi-Fi
A memorandum of understanding jointly to develop, implement and support in-flight connectivity solutions for airlines in Thailand and the surrounding region has been signed between Thaicom and US-based Global Eagle Entertainment, a top provider of satellite-based in-flight Wi-Fi and device-based entertainment for airlines.
Thaicom will work with Global Eagle to build satellite-network infrastructure throughout the region that offers airlines services including global satellite connectivity, network security and policy-compliance management, customer billing, customer services, content delivery, and Wi-Fi and ISP (Internet service provider) support. These services can be utilised individually or integrated as needed.
Winner Group Enterprise sets IPO price at Bt2 each
Winner Group Enterprise, an importer and distributor of food products, has set the IPO (initial public offering price) for 88 million shares at Bt2 each, which will be opened for subscriptions from tomorrow through Friday.
The company is expected to be listed on the Market for Alternative Investment on October 3.
Thanachart Securities is financial adviser and lead underwriter for the IPO.
Jane Wongisariyakul, managing director of Winner Group Enterprise, said the funds raised from the IPO would be used to support business expansion, as the company has focused on increasing the efficiency of its distribution channels for both industrial and food-services customers.
Myanmar Speaker, Yingluck push for Dawei progress
Shwe Mann, Speaker of Myanmar’s parliament, yesterday met with Prime Minister Yingluck Shinawatra in Bangkok, and they agreed that the two countries should speed up progress on the Dawei Special Economic Zone as it would benefit both nations.
Shwe Mann also thanked the Thai government for its good care and fair treatment of Myanmar labourers as they enjoy full benefits under Thai law if they legally register.
He also encouraged the Thai government to continue assisting farmers via the rice-pledging scheme.
5 foreign banks to get licences
The Bank of Thailand is set to grant five licences for foreign commercial banks to open up operations in the Kingdom. The aim is to intensify competition in the banking sector.
BOT Governor Prasarn Trairatvorakul said the competition in the local banking sector was quite tough, especially in some transactions, such as money deposits.
“Our aim is to promote competition in the banking sector step by step, which reflects our master plans … to develop the financial-institutional system. The plan will start from strengthening the local financial institutions, reducing their burdens and promoting competition,” he said.
Thai Smile plan to go to Cabinet
The Finance Ministry will propose to the Cabinet today the plan of Thai Airways International to set up Thai Smile Airways as a wholly owned subsidiary, said a Cabinet source.
Rush for hedging tools
Exporters and importers alike have purchased a greater number of hedging tools amid the volatile baht-dollar exchange rate, said Thiti Tantikulanan, head of capital markets business at Kasikornbank.
The number of hedging tools purchased rose by 15-20 per cent early this year when compared with the same period last year, he said. They were purchased by companies of all sizes.
BOT chief to give charity talk
Prasarn Trairatvorakul, governor of the central bank, will give a charity dinner talk tomorrow at 6pm at Grand Hyatt Erawan Bangkok Hotel.
He will talk about global financial markets and challenges to Thailand.
The event is organised by the Friends of AIT Foundation, aimed at raising funds to support the Asian Institute of Technology, said Chawalit Chantararat, president of AIT Alumni.
Duties go on shrimp exporters
The US International Trade Commission (USITC) has ruled that subsidies for frozen warm-water shrimp from China, India, Malaysia, Vietnam and Ecuador have not materially injured the US industry, a senior Thai Commerce Ministry official said.
Pranee Siripan, director-general of the Foreign Trade Department, said the USITC announced on Friday that the imports of frozen shrimp from those five countries would continue without them having to be subject to countervailing duty.
Thailand and Indonesia were cleared of a similar charge on August 19. Thai shrimp exporters can ask for a duty refund plus 2.09-per-cent interest it has posted since a preliminary investigation of the case in May. She said the USITC decision would put Thailand on the same competitive level as other exporting countries, compelling Thai exporters to boost their efficiency in terms of quality and product diversity. – MCOT
New hiring framework
Singapore will impose new rules prodding companies to consider locals before hiring foreigners for professional jobs, according to the Ministry of Manpower.
The city-state will set up a job bank where companies are required to advertise positions before applying for so-called employment passes for foreign professionals, it said. The advertisements must be open to all Singaporeans.
“Even as we remain open to foreign manpower to complement our local workforce, all firms must make an effort to consider Singaporeans fairly,” Acting Manpower Minister Tan Chuan-Jin said in a statement yesterday. “Hiring-own-kind and other discriminatory practices that unfairly exclude Singaporeans run against our fundamental values of fairness and meritocracy.”
