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Thai Airways launching flights to Sendai, Japan
Thai Airways International will begin flights to Sendai next Tuesday, December 3, boosting the number of destinations it flies to in Japan to seven.
Chokchai Panyayong, THAI senior executive vice president for the commercial department, said the Japanese market was a substantial one with continuous, regular growth.
During the first nine months of this year, THAI’s cabin factor on routes to Japan was 79.8 per cent and the airline’s growth rate on these routes was as high as 23.7 per cent.
“The Japanese market is a major revenue-making market for THAI, which is the reason for us to serve new destinations in Japan such as Sendai, the capital of Miyagi prefecture,” Chokchai said.
“THAI is pleased to serve Sendai and fly to all regions in Japan, as well as support increasing demand for travel to more parts of Japan.”
The Bangkok-Sendai route will be served by three weekly flights.
According to the Tourism Authority of Thailand, more than 400,000 Japanese tourists travelled to Thailand in the first quarter of this year, up by 22 per cent year on year and the second-largest number of tourist arrivals from the Asian region.
TNT Express wins customs certification
TNT Express Worldwide (Thailand) Co, an international provider of integrated express services, has been certified as an authorised economic operator (AEO) – certified customs broker, as endorsed by the Royal Thai Customs Authority.
This certification gives TNT Thailand the recognition globally as a safe and secure business partner. The company points out that the certification should save customers time and cost, as it will reduce the number of cargo consignments subject to inspections. It will also provide a more efficient customs clearance process and greater market access through MRA counterparts (gaining trade privileges as stated in the Mutual Recognition Agreement eligibility).
TNT says the achievement of accreditation reaffirms its commitment to the development of Thailand as the leading transport hub in Asean, and further demonstrates TNT’s focus on continual operational improvements for the region’s forthcoming economic integration.
THAI, MRT celebrate Father’s Day
Thai Airways International is celebrating His Majesty King Bhumibol Adulyadej’s birthday on December 5 by offering a “Travel with Dad” promotion on domestic ticket fares from now until December 25.
Chokchai Panyayong, THAI senior executive vice president for the commercial department, said the promotion targeted families who want to get together with their fathers during the month.
For example, a one-way ticket for weekday flights from Bangkok to Chiang Mai starts at Bt2,450.
Meanwhile Bangkok Metro, the operator of the MRT mass-transit system, is also waiving ticket fares for fathers travelling with their children on the King’s birthday, which is also recognised nationwide as Father’s Day.
SET Index drops 13.66% after 2-day rebound
The SET Index fell 13.66 per cent yesterday to close at 1,359.45 with trading value of more than Bt33.613 billion. The index had risen during the previous two days on a technical rebound.
The Stock Exchange of Thailand opened up by 4 points and peaked at 1,379.01 before falling to the lowest level of 1,356.91 in the afternoon.
SCB first to follow rate cut
Siam Commercial Bank led its peers to cut interest rates for both loans and deposits to comply with the central bank’s policy-rate cut of 25 basis point to 2.25 per cent on Wednesday.
The new minimum lending rate (MLR) will be 6.75 per cent, down 0.25 percentage point, and savings deposits will pay 0.625 per cent per annum, effective today. The minimum retail rate (MRR) is cut by 0.10 percentage point to 8.0 per cent.
SCB president Kannikar Chalitaporn said, “Fixed deposit interest will also cut by 0.05-0.15 percentage point, and savings deposits for individual customers by 0.125 point.”
Industrial index ‘short of target’
The Office of Industrial Economics projects that the industrial index will miss its earlier target of 3-4 per cent this year, with slight actual growth of only 0.2 per cent. Industrial GDP, however, is expected to increase by 2.86 per cent next year.
In the automotive industry, about 2.6 million cars will be produced next year, 2.56 per cent more than this year. Meanwhile, the electrical and electronic industry is projected to grow by 1-3 per cent next year, the textile industry by 8.9 per cent, and the food industry by 1-2 per cent.
Somchai Harnhirun, director-general of the OIE, said the manufacturing production index (MPI) was expected to decline by 2.8 per cent this year, but would rebound significantly with 2-per-cent growth projected for 2014.
SFC to handle Infineum products
Siam Fine Chemicals Co (SFC) has been selected by Infineum, a British firm that formulates, manufactures and markets petroleum additives for fuels and lubricants, to be its sole distributor of lube-oil additive substances in Thailand.
CEO Chira Ratanarat said the latest product would complete the company’s wide range of automotive lubricants, in which the Infineum additives are to be used.
SFC recently established a new plant with maximum production capacity of 10 million litres per month.
Retailink looks outside Kingdom
CP Retailink (Thailand) Co plans to market its Nuova coffee machines in Laos, Myanmar and Cambodia.
Naris Thamkuekool, vice president of the company, said it would join with local partners in each of those countries to set up business. After the initial investment, it will take about five years to make the machines popular.
The company also plans to open showrooms and outlets in other Asean countries. And next month, it will begin distributing coffee beans in the Makro cash-and-carry wholesale store in Pattaya.
CP Retailink (Thailand) expects Bt2.5 billion in sales this year, and up to Bt3 billion next year.
ST Electronics sets up Thai unit
Singapore Technologies Engineering’s electronics arm, Singapore Technologies Electronics, has set up a wholly owned subsidiary, ST Electronics (Thailand), with paid-up capital of Bt120 million to offer transport and advanced electronics solutions in this country.
AAA buys stake in Myanmar’s allure
All Asia Asset Capital (AAA), an investment company focused on the growing markets of Southeast Asia, has through a special-purpose wholly owned subsidiary acquired a minority stake in Myanmar Allure Group Co.
MAG is a privately held company based in Thailand and Myanmar that operates in the hospitality and entertainment businesses. It owns and operates Allure Resort in Tachileik province, Myanmar, near Thailand’s northern border.
After the acquisition, AAA will indirectly own a 7-per-cent stake in MAG. The consideration is to be satisfied by US$2 million (Bt64 million) in cash on completion of the acquisition, to be funded from AAA’s existing cash resources.
