Briefs

 

 

Finance Minister Kittiratt Na-Ranong is concerned that the economy will be hurt by the possible delay of implementation of the national budget for fiscal 2014 as the Constitutional Court considers the budget bill.

“We plan to invest Bt100 billion in the first quarter of fiscal year 2014, and a delay would have an impact on the country’s investment plan and economic growth,” said Kittiratt, who is also a deputy prime minister.

 

TTA names new CEO

 

Chalermchai Mahagitsiri is to take over management of Thoresen Thai Agencies after the resignation of president and CEO ML Chandchutha Chandratat next year.

In a filing to the Stock Exchange of Thailand, the company’s board on Wednesday resolved to name Chalermchai as Chandchutha’s successor. Chandchutha’s resignation will take effect next March 25.   

Chalermchai was appointed director of the company in January 2012 and was promoted to vice executive chairman in April this year.

 

DSI offers Bt1-bn reward on VAT scam

 

The Department of Special Investigation is offering a Bt1-million reward for those providing information leading to the arrest of five suspects in the Bt4.3-billion value-added-tax refund scam. 

Saying the arrest of these five people could provide key information leading to further arrests, DSI chief Tarit Pengdit yesterday named them as Weerayuth Saelhok or Thanayuth Donthanakoset, Saithan Saelhok, Surachet Maharamreuk, Prsit Anyachote and Kittisak Anyachote. 

The first two have reportedly fled to Hong Kong, while the rest are believed still to be in Thailand, he added. 

The five suspects are wanted for fraud. It is alleged that they used copies of the identity cards and household registrations of poor people in other provinces to set up bogus companies in Bangkok and Samut Prakan to be used in the VAT-refund scam. 

 

Energy officials’ removal sought 

 

The Foundation for Consumers yesterday filed a petition to Nikom Wairatpanij, president of the Senate, seeking the removal under a provision of the Constitution of five people appointed to government posts.

They are Energy Minister Pongsak Ruktapongpisal; energy permanent secretary Norkhun Sitthiphong; Songpop Polachan, director-general of the Mineral Fuels Department; Viraphol Jirapraditkul, director-general of the Energy Business Department; and Suthep Liumsirijarern, director-general of the Energy Policy and Planning Office.

In the petition, the foundation said these people failed to ensure fair competition in the energy business and were incompetent.

 

 

SET lists second infrastructure fund

 

The Stock Exchange of Thailand will list the Amata B Grimm Power Plant Infrastructure Fund, with market capitalisation of Bt6.3 billion, on its main board today under the ticker symbol “ABPIF”. 

The fund is the country’s first power-plant infrastructure fund and the second infrastructure fund listing on the SET. 

The fund’s top three unit-holders after its initial public offering are Amata B Grimm Power Co (28.57 per cent), Land and Houses Bank (9.4 per cent), and Krungthai-AXA Life Insurance (4.6 per cent). 

ABPIF’s dividend policy is to pay no more than twice a year at no less than 90 per cent of its adjusted net profit, and it has a policy to return yields stated in the fund’s conditions.

 

 

Dow adding to Map Ta Phut site

 

Dow Polyurethanes, a business of the Dow Chemical Company, will add a polyether-polyols facility at the company’s Map Ta Phut site. 

The facility’s capacity of 165 kilotonnes per annum will reduce logistical costs and transport risks by minimising the amount of transport across different assets in the region, Dow says. 

Utilising state-of-the-art DMC catalyst technology, the facility will deliver local, reliable supply of polyether polyols for flex slab applications that present a variety of opportunities, and especially address customer demand in coating, adhesive, sealant and elastomer applications, the company says. 

 

SEC open to ideas on rules revamp

The Securities and Exchange Commission is seeking public comment on compiling and standardising the rules and guidelines concerning all types of capital-market personnel for ease of use. 

The consultation paper is available until October 7 on the SEC website, www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website, facsimile number (02) 263-6311 or e-mail address [email protected] until that date.

 

Licence holders’ fees in compliance: NBTC

All voice and non-voice service fees charged by the three 2.1-gigahertz licence holders in August complied with the National Broadcasting and Telecommunications Commission’s requirements, it said. 

Under the terms of their licences, the firms are obliged to set voice and non-voice service fees 15 per cent lower than the rates they were charging on December 7 last year.

The operators’ voice service fees in August ranged between 58 and 72 satang per minute, while mobile Internet service fees were between 15 and 26 satang per megabyte of consumed data, according to NBTC secretary-general Takorn Tantasit.

 

Mediabrands’ Wannee snags innovation award

The Internationalist, a leading magazine based in Britain, has named IPG Mediabrands chairwoman Wannee Ruttanaphon as the Agency Innovator for 2013.

Wannee was among 31 men and women from agencies throughout the world named as this year’s Agency Innovators. The magazine said they had “transformed the ideals of the agency world, adopting innovative communications and being advocates of international brand-building”.

Describing her as an “extraordinary leader and mentor”, the magazine said Wannee has applied innovation to every aspect of the business over the past 25 years, driving adoption of new disciplines and offerings, strengthening team capabilities and skill sets, and raising the bar for media innovation. Under her tenure, the agency group has grown by almost 14 times and won multiple awards.