Briefs

Thai Airways International recorded a consolidated net loss for the third quarter of Bt6.18 billion, compared to last year’s net profit of Bt1.86 billion.
The loss before foreign currency exchange and income tax was Bt3.24 billion. This year’s third-quarter loss was the result of revenue rising more slowly than operating expense.
Combined with a Bt2.89 billion loss from outstanding foreign currency debt, THAI posted a consolidated net loss for the period of Bt6.18 billion.

Lockout at Furukawa Metal
Furukawa Metal (Thailand) yesterday started locking out union members from its premises.
In a statement to the Stock Exchange of Thailand, the company said it has failed to reach an agreement with the labour union over wage, bonus and benefits.
It insisted that despite the lockout, the Bangkok office remains open while operations are proceeding as usual. Its plant in Saraburi produces copper tubing.
“The company has enough inventory but (this) may result in the decreasing of production capacity of this period. The company will negotiate with the union in order to get a final conclusion as soon as possible. If both sides finish the negotiations, the company will inform again,” it said.
Discussion on the package has been going on since September.

BAY, Laotian bank in deal
Bank of Ayudhya has entered into a strategic partnership with Banque Pour Le Commerce Exierieur Lao, the largest bank in Laos by assets and ATM coverage, to offer greater accessibility for cross-border cash withdrawals at a lower cost for debit and credit cardholders of both banks.
Almost 2 million Krungsri Visa debit cardholders and 3.5 million Visa/MasterCard credit card holders can now enjoy a 50-per-cent discount on access fees for cash withdrawals from BCEL’s ATM network in Laos until January 31. About 400,000 BCEL CUP/Visa debit and credit cardholders will obtain a similar benefit when they make cash withdrawals via Krungsri ATMs in Thailand.
Janice Van Ekeren, CEO of BAY, said yesterday that the move is part of the bank’s plan to expand into neighbouring countries including Laos, Myanmar and Cambodia as well as to maximise growth opportunities from the upcoming AEC.
 It expects the initiative will help support increasing demand for financial facilities from customers of both banks conducting cross-border activities.
Krungsri has a plan to grow its presence in Laos into a local bank next year.