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Saha Pathana plans Sahanum Textile share purchase
Saha Pathana Inter-Holding’s board of directors has approved the purchase of 64,000 shares of Sahanum Textile Co at Bt119.56 per share, or Bt7.65 million. Par value is Bt100 per share.
The board also approved selling 50,000 shares of Sriracha BSC Bowling Co at Bt50 per share (par value Bt100 per share), amounting to Bt2.5 million, according to the company’s report to the Stock Exchange of Thailand.
TRIS affirms Bualuang rating
TRIS Rating has affirmed the company rating of Bualuang Securities (BLS) at “AA-” with “stable” outlook.
The rating is enhanced from BLS’s standalone credit profile, reflecting its status as a strategically important member of Bangkok Bank (BBL) Group. The standalone rating is based on BLS’s solid franchise in brokerage services and investment banking, its conservative style of management, and the financial flexibility it has as a subsidiary of BBL, TRIS said.
The rating also takes into consideration the potential benefits BLS may be able to realise by further leveraging the BBL Group’s nationwide network and business relationships.
Indochina conference
KT ZMICO Securities will host a conference on the “Outlook for Indochina and Emerging Asia” at the Four Seasons Hotel in Bangkok tomorrow.
In attendance will be prominent members of Thailand’s business community, including Kulachet Dharachandra, the director of corporate planning for Siam Cement Group.
Also, Graeme Cunningham, the head of Indochina equity research at KT ZMICO, will speak on “The Great Integration”.
This will deal with “Indochina’s ongoing shift from unipolar growth concentrated in Thailand to a multipolar expansion encompassing Vietnam and the Indochina frontiers of Myanmar, Cambodia and Laos, and the increasing political and economic integration within the region”, said Chaipatr Srivisarvacha, executive chairman and CEO of KT ZMICO Securities.
There will be a networking session in which the firm’s merger-and-acquisition bankers will have the opportunity to mingle in an informal setting to build international relationships, to progress M&A strategy, and to discuss and generate business opportunities.
Up to 80 investment bankers from all corners of the globe will join the event, which will be followed by a dinner at the Four Seasons Hotel.
Bundesliga coming to Asia
From the 2015-16 season, broadcasts of Germany’s Bundesliga soccer matches will be available in almost all of Asia, as well as all North and Latin American nations, thanks to a deal between the DFL (German League Association) and 21st Century Fox.
The agreement means the Bundesliga will be available in markets as diverse as Thailand, Indonesia, Japan, the United States and Brazil. European countries Italy, the Netherlands and Belgium will also now have access to the German matches on television.
“These agreements confirm that the Bundesliga has legitimately evolved to become a top international sports media property,” said DFL chief executive Christian Seifert.
The agreements reached for Asia and the Americas span a total of five seasons, beginning in 2015-16 and ending with the 2019-20 campaign. For the European nations, the two parties have agreed on a deal spanning the 2015-16 and the 2016-17 seasons.
Wumart, CP Lotus in store-purchase deal
Chinese supermarket operator Wumart Stores has reached a deal to buy stores from CP Lotus Corp in Beijing, Shanghai and other areas for HK$2.3 billion ($302 million) through a stock swap for its expansion in Northern China. Wumart will gain a stake of about 10 per cent in CP Lotus worth about HK$548 million, while CP Lotus will obtain about 14 per cent of Wumart valued at HK$2.9 billion.
MRTA can start on Green Line
The Mass Rapid Transit Authority of Thailand (MRTA) yesterday won a green light from the government to start construction of the Green Line mass-transit route (Mo Chit-Saphan Mai-Khu Khot), which will cost an estimated Bt30.28 billion.
The MRTA will call for bids on an international-bidding basis. The route is part of the government’s Bt2-trillion infrastructure investment project. It is expected to start operation in June 2018, serving 180,000 passengers per day.
Ministers to oversee key crops
The Cabinet yesterday established five “Mister Kaset” (Mister Agriculture) positions, to be held by five ministers who will be assigned to oversee trade, development and marketing of five major crops.
The ministers are PM’s Office Minister Varathep Ratanakorn (rice), Deputy Finance Minister Tanusak Lekuthai (sugar cane), Energy Minister Pongsak Ruktapongpisal (cassava), Deputy Prime Minister Yukol Limlamthong (rubber) and Deputy Commerce Minister Yanyong Phuangrach (corn).
The five commodities are key economic crops for Thailand. Agriculture contributes about 10 per cent of Thailand’s gross domestic product.
Tax breaks eyed for 1,431 projects
Board of Investment tax incentives were requested for 1,431 projects worth a combined Bt737.8 billion in the first nine months of this year.
In terms of number of projects, this is a 6.3-per-cent decrease from the same period last year. In terms of value, however, the amount is up 0.7 per cent year on year.
A total of 382 projects worth Bt329.1 billion applied for the BOI incentives for investment in the service and infrastructure sectors, followed by metal products, machinery and transport equipment, with 320 projects worth Bt200.5 billion. The rest were in the fields of agriculture (276 projects worth Bt93.6 billion); electronics and electrical appliances (227 projects worth Bt46 billion); chemical, paper and plastic (133 projects worth Bt34.1 billion); mines, ceramics and basic metals (35 projects worth Bt21.8 billion); and light industry (58 projects worth Bt12.7 billion).
Five Villages to be evacuated
At the request of local residents, the Cabinet yesterday approved the evacuation of five villages around Lampang’s Mae Mo power plant.
The relocation will cost Bt2.97 billion, which will be borne by the Electricity Generating Authority of Thailand. The land remains the villagers’ property, though, and should Egat want to make use of the land, it must expropriate it.
The villagers asked for the relocation in 2009, citing fears of pollution from the power plant.
Kiatnakin Q3 profit up 6.78%
Kiatnakin Bank’s third-quarter net profit rose by 6.78 per cent to Bt990.49 million from Bt927.59 million over the same period last year.
Cautious about growing loans for hire-purchase and real-estate development in light of the economic slowdown, the bank saw loan growth of only 2.4 per cent on year, compared with 3.5 per cent in the second quarter and 4.3 per cent in the first. Cumulative loan growth from the end of last year was only 10.5 per cent.
Lands Dept targets 57 provinces
The Lands Department is rushing to issue land-title deeds across the nation, targeting 57 provinces within fiscal 2014.
Pinit Hanpanich, director-general of the department, said targeted provinces included Chiang Mai, Lamphun, Chiang Rai, Lampang, Sukhothai, Nong Khai, Udon Thani, Khon Kaen, Nakhon Ratchasima, Phetchaburi, Surat Thani, Krabi, Songkhla, Pattani and Yala. Pinit said the papers gave landowners better access to finance and incentives for land development and income generation. He said the process would also reduce land-related disputes.
