Quick News

The Finance Ministry is considering imposing an excise tax of 10-20 per cent on ready-to-drink green tea next year, according to permanent secretary Rangsan Srivorasat.
“We believe that it is the right time for an excise tax on ready-to-drink green tea because there is no longer any need for such products to be exempted,” he said. “According to our studies of their ingredients, the claim by producers that they are helping tea farmers is no longer valid.”

Delegation to World Travel Market
The Tourism Authority of Thailand (TAT) will take 69 tourism-related operators, mainly hoteliers, to the World Travel Market in London, in an effort to keep and expand the tourist base at the time of economic uncertainty in Europe.
This will be the 34th year the TAT has joined the event, which this year runs from November 4-7. The authority has booked 420 square metres space for its “Amazing Romantic Thailand” booth, aimed at promoting the country as a honeymoon destination, especially the beaches at places like Phuket and Samui.
Juthaporn Rerngronasa, the TAT’s deputy governor for international marketing in Europe, Africa, the Middle East and America, said that before the event, the TAT would take operators to Scandinavia and Germany to meet with travel agencies there and update them on what the Kingdom’s hospitality industry offers.

Hotel discounts may hurt brands
Hoteliers are becoming wary of discounting as they evaluate the long-term effects of such cost-cutting on brand perception, said Traveldailynews.com.
Referring to a survey of European hoteliers carried out by Hotwire.com, it said 75 per cent of respondents indicated that discounting was having a negative impact on their brand.
“Hoteliers are concerned that if their brand is seen as ‘always on sale’, it will be devalued and end up going the way of other companies and industries where consumers are never prepared to pay a premium,” said Michelle Rosinsky, senior manager at Hotwire.com.
“We’re not expecting that hoteliers will suddenly give up on discounting, because it is still an effective way to increase occupancy; however, we believe they’ll become more selective about the channels they use, the value of discounts and the timing of their offers. Discounting will become more last-minute and increasingly they will utilise opaque sites and mobile.”

World Bank report out tomorrow
The World Bank Group’s “Doing Business 2014” report will be launched tomorrow.
Measuring the efficiency and strength of laws, regulations and institutions that are relevant to domestic small and medium-sized companies throughout their life cycle, the report gathers and analyses comprehensive quantitative data to compare business regulation environments across economies and over time.
It is aimed at encouraging countries to adopt more effective regulations, offers measurable benchmarks for reform, and serves as a resource for academics, policy-makers, private-sector executives and others interested in the business climate of each country, the bank says.
The new report presents data for 189 economies, including for the first time Libya, Myanmar and South Sudan.
Joining the launch of the report in Thailand will be a senior representative of the Public Sector Development Commission.

Easy Buy debentures rated
TRIS Rating has assigned a “BBB+” rating to the proposed issue of up to Bt1 billion in three-year senior debentures of Easy Buy with “stable” outlook.
At the same time, TRIS Rating has affirmed the company rating as well as the current senior debenture and guaranteed debenture ratings of Easy Buy at “BBB+” with “stable” outlooks.
The rating reflects Easy Buy’s continual improvement in capital base, financial profile, and asset quality from 2008 to the first half of 2013, plus its strong market position in the non-bank consumer-finance business in Thailand.
The rating is constrained by the fact that the credit quality of its customers is sensitive to an unfavourable economy and intense competition in the consumer-finance industry. These factors might limit the company’s business growth and profitability, and lead to a deterioration in asset quality in the future. The “stable” outlook of the company and senior debenture ratings reflects the turnaround in performance as a result of improved asset quality and careful control of operating expenses. Easy Buy continually delivered strong earning power from 2010 to the first half of this year, which generated a strong internal growth of its equity base and strengthened its credit ratings.
Good credit risk management and stronger capital will help mitigate expected risks from adverse changes in business and operating environment in the consumer finance industry.