Foreign investment funds stay popular
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Foreign investment funds welcomed a net inflow of Bt44.68 billion in the first 10 months of this year, according to Morningstar Research (Thailand).
FOREIGN INVESTMENT FUNDS STAY POPULAR
Foreign investment funds welcomed a net inflow of Bt44.68 billion in the first 10 months of this year, according to Morningstar Research (Thailand).
FIFs with investment policies aiming at the European and Japanese markets gained the most popularity, managing director Peet Yongvanich said yesterday.
The popularity of FIFs has been on a rise among Thai investors over the past few years, he said.
As of October, recorded assets under FIF management had increased to Bt79.85 billion from Bt34.95 billion at the end of last year.
Europe FIFs recorded the highest net inflow of Bt14.79 billion, followed by Japan FIFs with Bt9.82 billion and Asia-Pacific-excluding-Japan FIFs with Bt7.36 billion.
By outstanding assets under management, Europe FIFs were 23 per cent of the total, followed by Asia-Pacific with 19 per cent, China with 16 per cent and the US with 15 per cent.
Europe FIFs recorded a negative yield of 3.41 per cent annually, lowest among FIFs. US FIFs outperformed at 8.14 per cent.
Thailand now has 32 types of mutual funds, Peet said.
DISPOSAL ‘BEING FIXED’
Chatrium Hotel Royal Lake Yangon’s improvement of its wastewater disposal system will be completed in a few days, said an engineer responsible for the task in response to the Yangon City Development Committee’s instruction.
The YCDC has threatened to sue the hotel, one of the properties of Thailand-based Chatrium Hotels and Residences, accusing it of dumping wastewater into nearby Kandawgyi Lake.
SET lists Buriram Sugar holding company,
with Bt4.6 bn in market capitalisation, today
The Stock Exchange of Thailand welcomes Buriram Sugar, a holding company investing in producers of sugar and its by-products, on its main board today, under the ticker symbol “BRR”, with a market capitalisation at the initial public offering of Bt4.6 billion.
SET executive vice president Chanitr Charnchainarong said BRR would be listed in the Food and Beverage sector.
It is a holding company that invests in Buriram Sugar Factory Co as its core company.
BRR’s crushing capacity is 17,000 tonnes of cane per day, producing raw and brown sugar.
BRR also invests in other related businesses, consisting of Buriram Energy Co, Buriram Power Co (a bagasse-based electricity generator), Key Brand Fertilizer Co and Buriram Sugarcane Research and Development Co.
The last one is an innovation in farming management through a virtual system including developing a real-time farming database to produce optimal yield.
BRR has paid-up registered capital of Bt676.75 million, consisting of 507.57 million existing shares and 169.18 million newly issued shares, with a par value of Bt1 each.
The company offered the new shares through an IPO from October 29-31 at Bt6.80 per share for a total of Bt1.15 billion. KT Zmico Securities Co is the company’s financial adviser and lead underwriter.
BRR chief executive officer Anant Tangtongwechakit said listing on the SET would enhance the company’s image and financial strength.
The funds raised would be used to expand production capacity and sugar-related businesses for long-term sustainability. Moreover, BRR will strive towards excellence in business know-how and farming management to ensure raw-materials security and better living conditions for sugar-cane growers.
BRR’s three major shareholders after the IPO are the Tangtongwechakit family (74.31 per cent), Yanyong Phanwongklom Group (2.95 per cent) and Kaewkuar Group (0.60 per cent).
The IPO price was set from a book-building process with a price-to-earnings ratio of 73.44 times, calculated by using the net profit of the past four quarters ended June 30, 2014, divided by the number of fully diluted shares, representing earnings per share of Bt0.09.
BRR’s dividend policy is no less than 50 per cent of net profit after taxes and reserves.
DKSH starts strategic partnership with
BASF’s BTC Chemical Distribution in Asia
DKSH and BTC Chemical Distribution, a subsidiary of BASF, will start a strategic collaboration for colorants in the personal-care and household industries in 14 Asian countries.
DKSH’s Business Unit Performance Materials, a leading distributor of specialised chemicals, has been appointed to provide market expansion services for BASF’s product range of home and personal-care colorants in Thailand, mainland China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Myanmar, the Philippines, Sri Lanka, Singapore, Taiwan and Vietnam.
The cooperation includes the product lines Puricolor and Iragon. DKSH Business Unit Performance Materials was chosen as the exclusive market expansion services partner because of its comprehensive pan-Asian coverage, through specialised teams in each country, and its broad range of services, including eight innovation centres and six regulatory affairs centres.
ACER LINKS WITH GARENA
Acer has joined with Garena Online (Thailand) to support e-sports. Acer says it will focus more on the gaming market, perceiving a gap in the market.
Next year the computer company will concentrate its business on small and medium-sized enterprises and the education and enterprise markets.
Nitipat Praweenwongwuthi, an associate director of marketing at Acer, said the gaming market had high potential. The firm therefore had joined forces with Garena Online (Thailand) to support this market.
As a first step, the company has set up an “Acer Green Team” to join various regional and national competitions, aiming for an international gaming championship. Garena is responsible for organising contests in the Heroes of Newerth game and upgrading players’ skills. Meanwhile, Acer will provide devices and technology for an HoN Cafe Tournament, and will co-sponsor a Thailand e-Sport League.
AVERAGE BONUSES
Business operators are expected to pay average bonuses of 2.5 months’ salary this year, with the highest at 8.8 months, according to a recent survey by the Federation of Thai Industries (FTI) and Sripatum University.
The 2014-15 salary survey was conducted by the FTI’s Human Capacity Building Institute (HCBI) and Sripatum University on 147 business operators in 14 industries between March and May this year.
Salaries this year are expected to rise by 5.4 per cent on average, compared with last year’s increase of 5.6 per cent, said Pongdej Sriwachirapradit, vice chairman of the HCBI.
