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Narai Property plans launches worth Bt7 billion in 2015
Narai Property Co plans to launch up to Bt7 billion worth of residential projects next year.
This is part of its plan to boost revenue from this year’s targeted Bt2 billion, a drop of 50 per cent from 2013, company director Oradee Na Ranong said yesterday. Before the end of this year the company will launch a detached-housing project. Park Preva, located on Rama IX in Bangkok, will be worth Bt2.5 billion.
EXIM prepares for AEC
The Export-Import Bank of Thailand has formulated a comprehensive plan to address the challenges the nation faces as the Asean Economic Community approaches, in a bid to enhance economic, trade and investment-integration opportunities, the bank’s chairman Dr Naris Chaiyasoot said.
Under the plan, EXIM Bank aims to be instrumental in supporting Thai corporates and entrepreneurs looking to expand into Asean markets when the AEC is fully implemented at the end of next year, particularly in the CLMV countries – Cambodia, Laos, Myanmar and Vietnam.
Naris said the bank’s activities would be in accordance with its vision to be a lender that paves the way for new opportunities for businesses in the global arena, particularly in the AEC, as well as its national strategic framework and policies.
He said the focus would on public- and private-sector needs as well as addressing the government’s policies to make Thailand a trading nation while supporting the digital economy, new business trends – including green businesses – innovative products, cross-border trade and the development of special economic zones.
He said areas of great potential in the AEC, particularly in CLMV countries, included infrastructure construction in Myanmar; agricultural machinery and tourist services in Laos; labour-intensive factories relocating to Cambodia; investment in heavy industries in Vietnam; and the export of premium-grade products to Vietnam.
Loxley-GMM set-top boxes
Loxley has teamed with GMM Z in the hope of becoming a leader in the market for digital-TV set-top boxes by combining high-end quality with diversified entertainment content.
Sompop Chareonkul, Loxley senior executive vice president, said the company recognised the vast opportunities by expanding business into this market.
He said the market demand was generated by the more than 22 million households that had access to the National Broadcasting and Telecommunications Commission’s discount-coupon programme for the purchase of set-top boxes.
Loxley is confident of becoming a key player in the market through its relationship with leading entertainment company GMM Z, a subsidiary of GMM Grammy and as such a beneficiary of the giant’s entertainment content and marketing and distribution channels in the country.
Loxley and GMM Z have entered the set-top box market under the brand GMM Z Zeason by Loxley.The official launch of the new entity takes places tomorrow at the Terminal 21 shopping mall in Bangkok.
Bangkok Airways sets IPO price at Bt25
Bangkok Airways has finalised a share price for its initial public offering at Bt25, after a book building process with institutional investors.
This is in the middle of the initial price range of Bt23-Bt27.
The IPO of 520 million ordinary shares has raised approximately Bt13 billion. It will be the largest listing on the Stock Exchange of Thailand so far this year.
The retail subscription, which was open from October 14-17, received strong interest from retail investors. The shares were oversubscribed by more than 1.5 times.
TCAP profit down 27.7%
Thanachart Capital’s consolidated net profit in the third quarter was Bt1.20 billion, down by 27.71 per cent from the same quarter last year.
In the first nine months, TCAP’s net profit plunged to Bt3.76 billion from Bt7.69 billion in the same period last year.
It said in a filing to the Stock Exchange of Thailand that assets in the third quarter decreased from lending contraction, especially instalment loans. Corporate and housing loans increased. Net interest income decreased from the declined lending volume, resulting in a narrow spread, but non-interest income increased, mainly from the improved condition of the capital market.
Non-performing loans as of the end of the third quarter rose to 4.66 per cent of the total from 4.61 per cent in the previous quarter and 4.49 per cent at the end of last year.
Tokyo rubber futures
Rubber futures in Tokyo climbed by the most in seven months as Thailand, the biggest shipper, is set to start buying the commodity to build up stockpiles in a bid to bolster prices.
The contract for March delivery on the Tokyo Commodity Exchange advanced 3.6 per cent, the biggest gain for a most-active contract since March 11, to settle at 189 yen per kilogram (US$1,779 a tonne). Futures climbed 5.8 per cent this week, the most since the five days through June 20.
“As Thailand took additional steps to bolster prices, investors rushed to buy back the futures,” said Gu Jiong, analyst at Yutaka Shoji Co, a broker in Tokyo. – Bloomberg
Save planet, Petipong
Thailand yesterday celebrated World Food Day with performances, demonstrations and exhibits honouring the important contribution to food security made by smallholder and family farmers.
The minister for agriculture and cooperatives, Petipong Pungbun Na Ayudhya, said that even though Thailand had a capacity to produce a lot of food products, it was not sufficient to feed the world population. While feeding the world is the main aim, a greater emphasis is needed to care for the Earth, he added.
“Farmers should reduce or stop using chemical fertiliser and pesticide,” Petipong said. “They should produce organic vegetables and products. This will help reduce the cost of production in their farms, nourish the soil, give people a healthy life, and lead to a healthy society.”
While Thailand has faced some challenges recently selling its rice to global markets, it could become the world’s top rice exporter again by next year, the Food and Agriculture Organisation is predicting.
