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CS Loxinfo sees rise in 2013 income after strong Q3
CS LoxInfo expects its revenue and income will improve this year after posting a consolidated third-quarter net profit of Bt105 million.
That brought net profit for the first three quarters to Bt365 million or Bt0.61 per share, up Bt67 million from the same period of last year.
Consolidated revenue for the first nine months also increased by 3 per cent to Bt2.28 billion due to the steady growth of its ICT business and voice and mobile content services business.
ICT revenue rose 4 per cent to Bt1.53 billion or 67 per cent of consolidated revenue, while Thailand YellowPages revenue surged 30 per cent to Bt267 million or 12 per cent of consolidated revenue and voice and mobile content revenue advanced 11 per cent to Bt484 million or 21 per cent of the total.
Fly-Thru service launched
AirAsia and Airports of Thailand Plc have introduced easy and convenient transit through Bangkok.
Starting on December 1, AirAsia will increase its network to 34 routes through the Fly-Thru service, which will allow its passengers to check their bags through and collect them at their final destination when transiting through Don Mueang International Airport.
Fly-Thru passengers will also be exempted from Don Mueang’s airport tax.
Those who book Fly-Thru flights until November 17 can enjoy an exciting promotional deal of up to 20 per cent off.
This offer is only available for travel from December 1-March 29.
4-way sales campaign
Visa, the Tourism Authority of Thailand, Airports of Thailand and the Bangkok Metropolitan Administration are joining hands for the first time to launch the Thailand Spectacular Year End sales campaign.
Visa designed this programme to support tourism spending in Thailand and to meet the travel needs of tourists at every step of their journey – from planning to arrival, at destination and departure.
The campaign will offer Visa cardholders exclusive promotions, gifts and rewards, including special offers for airline tickets, such as for AirAsia; hotel accommodations, such as with Agoda.com, the Thai Hotels Association and select hotels in Pattaya; mobile phone packages at Thai airports; gifts; and shopping and promotions at top restaurants.
Leading department stores will also offer privileges and discounts of up to 50 per cent.
The campaign runs from November 15-January 15.
Last-quarter push
Property Perfect Plc is holding “Perfect Condo Showcase” from November 4-10 at CentralWorld to boost its sales this last quarter of the year.
The event is showcasing 10 condominium projects worth over Bt10 billion located close to mass transit systems and Hua Hin.
Those booking a residence at this event can enjoy promotions such as a discount of up to Bt200,000, a Bt50,000 gift voucher for furniture and a zero-per-cent interest rate for the first six months.
Nod sought to doubling in personal income tax deduction
Finance Minister Kittirat Na Ranong will ask the Cabinet to approve an executive decree restructuring the personal income tax structure so that the doubling of the personal deduction to Bt120,000 can be effective for this year.
“If we wait and propose an act, that will not be effective for this year’s tax returns, which will be filed by March 31, 2014,” he said yesterday.
According to a study by the Finance Ministry, implementing the new personal income tax this year will cost the government about Bt27 billion in lost collections but it will boost consumer purchasing power and the economy.
Egat vetting plantt proposals
The Electricity Generating Authority of Thailand is considering the technical proposals of three bidders for a 600-megawatt power plant project in Lampang’s Mae Mo district.
Egat governor Soonchai Kumnoonsate said yesterday that the three bidders are two consortiums, Alstom Power System FA-Alstom Thailand-Marubeni Corp and Sumitomo Corp-Hitachi-Italian-Thai Development, and Habin Electric International from China.
Construction is expected to commence in the middle of next year and take four years to complete before power can be fed to the grid in 2018.
Construction will cost Bt30 billion. The new plant will replace the retired units 4 to 7 and use modern technology and environmentally-friendly technology.
Downward revision likely
BNP Paribas expects to lower its 2013 growth forecast for Thailand by 0.2 percentage point from the estimate of 3 per cent on concerns over the renewed domestic political chaos, which could slam tourism-related businesses.
The amnesty bill, which has led to a big protest in Bangkok and a fall in the Stock Exchange of Thailand Index, was passed by the House and is now under scrutiny in the Senate. The law will open the way for outcast former prime minister Thaksin Shinawatra to return to Thailand.
In BNP Paribas’s research note yesterday, next year’s expected growth for Thailand could be 0.5 percentage point lower than its estimate of 4.5 per cent.
Kirida Bhaopichitr, senior economist at the World Bank’s Bangkok office, said Thailand could see a positive development in exports since major economies have begun to recover.
Group to lower 2013 SET target
The Securities Analysts Association will cut its 2013 target for the Stock Exchange of Thailand in two to three weeks out of concern that rising political pressure could drag on economic growth.
The SET is targeted at 1,500 points for this year.
Secretary-general Sombat Narawutthichai said yesterday that the association was worried that if the political situation, which was now a major risk to the Thai stock market, was prolonged, it could weigh on economic growth, investment and trade.
Listed companies, particularly those related to the disbursement of the Bt2-trillion transportation infrastructure project, could see drops in their performance, he said.
“Based on past political situations, there are three levels of impacts,” he said.
First is a likely normal gathering that brings the SET Index down 2-3 per cent. Second comes with a 5-6 per-cent drop as the protest escalates. Third is a slump of up to 10 per cent as the political chaos turns violent.
“We have to wait for our members’ research for two to three weeks. The major technical resistance level is set at 1,380 points,” he said.
Media groups join forces
Beijing-based Nanfang Media Group has reached a partnership agreement with the publisher of Sing Sian Yer Pao, a Chinese daily newspaper in Thailand, to expand its footprint in Asean countries. Under this agreement, Nanfang Media Group has acquired 20 per cent of Sing Sian Yer Pao. The Chinese firm will also have an active role in local management.
Sadawut Taechaubol, executive chairman of Country Group Securities, the publisher of the newspaper, said yesterday that this move would help strengthen his business in the Kingdom while Nanfang Media Group could expand its business here in Thailand and in neighbouring countries to capitalise on the launch of the Asean Economic Community in 2015.
