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First 'Online Mega Sale' to offer discounts
The Business Development Department and the Thai E-Commerce Association will host the first “Thailand Online Mega Sale” from November 26 to December 3.
Deputy Commerce Minister Nuttawut Saikuar said the trading during the event was expected to reach Bt500 billion. About 500 to 1,000 online traders are expected to join. It will offer discounts of 20-80 per cent for online shoppers.
Products to be available at the event will be shown from October 15 on www.megasale.in.th.
Eureka sets up holding company
Eureka Design has set up a holding company in Singapore called Eureka Design International to oversee its planned overseas subsidiaries.
Eureka managing director Narakorn Ratchapolsitte said the holding company was established to facilitate the plan to open subsidiaries in Indonesia, India and Vietnam next year. The company is in the process of registering a subsidiary in Indonesia. It plans to set up Eureka Design India next July and Eureka Design Vietnam in October 2014.
Prinsiri rating affirmed by TRIS
TRIS Rating has affirmed the company rating of Prinsiri at “BBB-” with “stable” outlook, reflecting the firm’s acceptable track record in the low-rise residential property-development segment, its evolving brand recognition in the condominium segment, and its moderate business-risk profile.
These strengths are partially offset by Prinsiri’s relatively small revenue base and a rising level of financial leverage. The rating also takes 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.
The “stable” outlook reflects the expectation that the company, whose stock symbol is PRIN, will be able to improve its operating performance and successfully transfer completed housing units to customers as planned.
SET drops 2.42% amid US budget row
The SET Index yesterday plunged 34.33 points or 2.42 per cent to close at 1,383.16 with share trading value of Bt32.73 billion, in line with the fall of other Asian stock markets on concern that the US government is headed for a shutdown amid a budget stalemate.
All 10 industry groups on the MSCI Asia Pacific Index fell. Even if the US Congress resolves the budget fight by today’s deadline, lawmakers will have to move on to the next fiscal dispute over raising the US$16.7-trillion (Bt522 trillion) debt ceiling.
Ratch negotiates on Japanese solar farms
Ratchaburi Electricity Holding is in talks with potential Japanese partners about investing in two solar farms in Japan – one with 40-megawatt capacity and the other with 200MW.
Ratch CEO Pongdith Potchana said yesterday that if the negotiations for the first project were successfully concluded in two weeks, it could be commenced this year. Ratch plans to hold 40 per cent of the first project and 60 per cent of the second.
The investment is expected to run between Bt100 million and Bt120 million per megawatt, depending on the location. The feed-in tariff in Japan is the equivalent of Bt13-Bt14 per unit for 20 years. The project is expected to start feeding the grid in 12-18 months.
GMM Grammy unit inks soccer deal
GMM B Co, a subsidiary of GMM Grammy, has signed a contract giving it the right to broadcast the Uefa Euro 2016 European Qualifiers and World Cup 2018 European Qualifier. The licences will run from September 2014 to November 2015 and September 2016 to November 2017, according to its filing to the Stock Exchange of Thailand yesterday.
This contract covers 258 matches to select 24 soccer teams for the finals of Euro 2016 and 258 matches for World Cup 2018, including friendly matches, totalling 546 matches. Those programmes will be broadcast via GMM Z Sport channels in both high and standard definition.
Otop stores at Suvarnabhumi Airport
The Commerce Ministry and King Power Tax Free Co, the operator of airport duty-free shops, are joining forces to distribute Otop handicrafts at Suvarnabhumi Airport beginning next month.
The One Tambon, One Product offerings include foodstuffs, garments, decorative items and spa-related products.
Commerce Minister Niwatthumrong Boonsongpaisan said yesterday that the focus would be on high-quality Otop products that could compete with the brand-name merchandise sold at King Power duty-free shops.
Annual sales of at least Bt30 billion are expected. Other international airports, including Don Mueang, will also get Otop stores this year.
