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BAAC to raise Bt75 bn from bonds
The Bank for Agriculture and Agricultural Cooperatives will sell Bt75 billion worth bonds on November 27-28 partially to raise funds for the rice-pledging scheme for the 2013-14 harvest season.
The Public Debt Management Office will sell the bonds through seven Thai and overseas financial institutions, said Suvichaya Rojanavanich, an adviser to the office. He expects the three-year bonds to offer 3.7-3.9 per cent per annum.
To make the bond attractive, the code for the “BAAC” bonds will be changed to “GGLB” like other government bonds. The principal and interest of the bonds are fully guaranteed by the government.
Govt boost for least-developed economies
Thailand will waive import taxes and quotas on 6,998 products from the least developed economies.
The Commerce Ministry yesterday secured Cabinet approval for its trade-promotion initiative.
The privileges will be valid from 2015 to 2020, covering manufactured and agricultural goods.
Rice contract with Chinese firm
The Commerce Ministry will today sign a contract with a Chinese state-owned company to sell about 1.2 million tonnes of rice, Commerce Minister Niwattumrong Boonsongpaisan said.
Meanwhile, the ministry’s auction of 452,537 tonnes of rice opened yesterday but could draw only four traders, reflecting weak demand for Thai rice in the market. CP Intertrade bid for jasmine rice, while Royal Richy Rice, A Golden Rice, and Capital Cereals bid for 5 per cent white rice.
PTT plant to resume ops in March
PTT’s fifth gas-separation plant will run at full capacity next March after being hit by lightning, which forced a shutdown. Return to full-scale operations was earlier scheduled for December, Energy Business Department deputy director-general Somnuek Bamrungsalee said yesterday.
Thailand has to import 180,000 tonnes of liquefied petroleum gas per month. The operation at full capacity will help reduce imports by 20,000 tonnes.
Study on impact of infrastructure projects
The Cabinet yesterday approved the allocation of Bt700 million from the Structural Adjustment Loan scheme to finance studies on the impacts of the government’s infrastructure investment as well as the launch of the Asean Economic Community.
The studies will be conducted by the PM’s Secretariat Office.
A committee will be set up to monitor the progress, consisting of representatives from the National Economic and Social Development Board, the Budget Bureau, and the Comptroller-General’s Office, PM’s Secretary Suranand Vejjajiva said.
TPC eyes investment projects
Thailand Privilege Card Co (TPC), operator of Thailand’s luxury Elite card, will move ahead with its plan to strengthen its financial income through investment projects after the Cabinet yesterday gave a green light for such an initiative.
This will help save its business life at a time when its operational budget is drying up. Currently, the firm has Bt25 million left while monthly expenses amount to Bt10 million.
Corporate net profits up 8 per cent
