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MAI wants to clear way for venture capital investment
The Market for Alternative Investment (MAI) wants to make it legal for venture-capital firms to invest in private companies.
Malaysia sees much more juristic-person investment than Thailand, MAI president Prapan Charoenprawatt said.
“Previously, Thailand has promoted joint investment by juristic persons and has given tax privileges for mutual funds. However, the latter measure has not been extended. And only two of all the private companies focusing on joint investment have listed on the MAI,” he said.
One good sign is the Finance Ministry’s planned fund for joint investments by small and medium-sized enterprises.
Kim Siritaweechai, senior vice president of Intouch Holdings, said juristic persons’ joint investment could help SMEs that lacked access to capital.
Major’s major expansion
To mark its 20th anniversary, Major Cineplex Group, the country’s largest
cinema chain, has revealed an aggressive expansion plan, aiming to have 1,000 screens in the next five years, nearly double the current number.
Chairman Vicha Poolvaraluck said yesterday that the five-year investment would be about Bt.5 billion and spent domestically and regionally. By the end of this year, Major Cineplex will be operating 520 screens in 77 locations.
Of around 500 new screens, 400 will be set up in Thailand and the rest in Cambodia, Laos, Myanmar and Vietnam.
Major Cineplex Group has formed a 70:30 joint venture with Phnom Penh-based Platinum Cineplex to run 50 cinemas in the Cambodian capital.
New companies down
The number of new company registrations dropped by 2 per cent in October to 5,383 firms, while business closures increased 4 per cent to 1,641, according to the Business Development Department.
Pongpun Gearaviriyapun, director-general of the department, said the number of registrations last month dropped slightly year on year because of fewer lottery-trading firms registering.
With a brighter economic outlook, the department projects that the total number of new registrations will reach 60,000-62,000 this year.
GMM Grammy ups capital
GMM Grammy has increased its registered capital by 183.63 million ordinary shares of Bt1 each after its shareholders’ approval on September 24, with high demand from institutional investors.
“The capital increase was considered another successful step for GMM Grammy underlying the strategic direction to become the country’s leader in media and entertainment businesses with high growth potential and sustainable operations,” chief executive officer Boosba Daoreung said.
