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11 million now subscribing to 3G-2.1GHz service
The number of subscribers to third-generation wireless broadband service on the 2.1-gigahertz spectrum has reached about 11 million, says the National Broadcasting and Telecommunications Commission (NBTC).
Of that total, 9 million subscribe to Advanced Wireless Network of Advanced Info Service, 1,800 to Real Future of True Corp, and 2 million to DTAC Trinet of Total Access Communication.
The NBTC awarded 2.1GHz licences to these three cellular operators last December and they launched the service this May.
In a separate matter, TrueMove and Digital Phone Co, who operate cellular services on the 1,800-megahertz spectrum, have recalled all of their SIM cards from sales channels and will not distribute new ones, after their concessions expired on September 15. The recall complies with the terms of an NBTC interim measure to maintain uninterrupted service for existing subscribers for a one-year transition period.
The two operators are not allowed to acquire new subscribers but must continue serving their existing 17 million subscribers for one more year.
Kingdom’s first ‘edutainment’ fair
Three organisers of world-class events – Impact, Worldex and Rakluke Group – have invested Bt40 million on “Kidscovery World: Tales & Toys”, the first edutainment fair in Thailand.
Expected to welcome more than 100,000 visitors, the event will take place from October 24-27 at Hall 3 and 4 of Impact Muang Thong Thani.
Outlook for Singapore’s SMRT downgraded
Standard & Poor’s Ratings Services has revised its outlook on Singapore’s SMRT Corp to “negative” from “stable”. At the same time, the agency affirmed its “AAA” long-term corporate credit rating and the “axAAA” Asean regional scale long-term rating on the rail operator. It also affirmed all the ratings on SMRT’s related debt issues and programmes.
S&P withdrew the “axA-1+” Asean regional scale short-term rating on SMRT. The revisions were made after SMRT’s financial performance was weaker than expected.
SC Asset ratings affirmed
TRIS Rating has affirmed the company rating of SC Asset Corporation at “BBB+” and affirmed the rating of SC’s senior debentures at “BBB” with “stable” outlook.
The ratings reflect SC’s acceptable track record in the middle- to high-end segments of the residential property market, the reliable cash flow from its rental property business, and the expected continuing growth in its revenue.
These strengths are partially offset by a higher financial leverage and a declining operating profit margin. The ratings also take into consideration the cyclical and competitive nature of the property-development industry, plus concerns over rising operating costs and the widespread labour shortage among contractors.
Cabinet approval sought for extended transport subsidy
The Finance Ministry will on Tuesday ask for the Cabinet’s approval to extend the current programme reducing the cost of public transport, with a total subsidy budget of Bt2.08 billion.
The extension would begin on Monday and run to March 31, 2014. Under the plan, the Bangkok Mass Transit Authority will provide free transport on 800 buses a day on 73 routes. The bus subsidy will cost Bt1.55 billion.
The proposed extension budget will also subsidise some train fares at a cost of Bt532 million.
No plan to cut luxury tax
Finance Minister Kittiratt Na-Ranong said the government had no plan to reduce the luxury import tax after meeting yesterday with representatives from the Beauty and Health Industry Club of the Federation of Thai Industries.
Meanwhile, Prime Minister Yingluck Shinawatra has assigned the Science and Technology Ministry to research the potential for the country’s beauty and health products.
Globally, this industry was valued at Bt1.7 trillion last year, of which Bt270 billion or about 15 per cent was attributed to Asean countries. Thailand ranks as the market leader in this segment, followed by Singapore.
Gold investors complain of losses
Gold investors have complained to KTTV editor Nophakhun Limsamarnphun about unfair losses from online gold trading.
After watching the “Business Talk” programme about spot gold trading aired on September 24 and hosted by Nophakhun, they said about 23 investors had lost between Bt300 million and Bt400 million after they opened accounts with one of the country’s major gold traders.
This trader has filed lawsuits against seven or eight investors accusing them of debt defaults, they said.
Investors can buy up to 1 kilogram of gold with funds lent by gold traders after opening trading accounts for Bt100,000, depending on current gold prices.
The investors complained that gold brokers made transactions without informing them first, so they suffered massive losses.
Earlier, central bank Governor Prasarn Trairatvorakul raised concerns about the interests of retail gold investors and the impact of gold imports on the exchange rate. He called for the regulation of spot gold trading.
New BOT assistant governors named
The Bank of Thailand’s board has appointed two new assistant governors, Priyavat Chainuvat and Permsuk Sutthinoon, to replace Nopporn Pramojaney and Sibporn Thavornchan, who are retiring.
The appointments will effective on October 1.
“We did not discuss controls on the gold trade control,” the board’s chairman Ampon Kittiampon said.
PTT appoints executive for oil business
PTT’s board has approved the appointment of Chaowalit Panthong, who had been executive vice president of retail, as senior executive vice president of oil business.
This is to replace Sarun Rungkasiri, who has been appointed chief operating officer of downstream petroleum business, a PTT source said.
TRIS affirms BMA’s rating
TRIS Rating has affirmed the rating of “AA+” for the Bangkok Metropolitan Administration, with “stable” outlook.
The rating is based on the importance of the Bangkok metropolis as Thailand’s administrative and economic centre.
The rating also reflects the BMA’s reliable tax revenue, the balanced-budget policy it utilises, and its strong financial profile derived from low leverage and a large amount of cash on hand. The rating, however, is constrained by the huge capital investments needed for public transport and infrastructure projects, and an increase in BMA’s operating expenditures for public services delegated from the central government.
