News feed

PTT successfully raised Bt10 billion through a debenture issue to existing bondholders and new retail investors.

Issued under the PTT Loyalty Programme, the bonds carry an interest rate of 4 per cent per annum and maturity of six years and 11 months. They were issued on Sunday.

In a statement, PTT chief financial officer Wirat Uanarumit attributed the success to investor confidence in PTT’s operating performance and financial status. 

“We would like to thank all investors for the trust consistently given to PTT and would like to  [assure you] that your investment in PTT debentures will be prudent, as the saying goes: ‘Where your money works for you,’” he said.

 

Backing for start-ups

InVent, a venture-capital arm of Intouch Holdings, will fund at least five start-up companies with a total budget of Bt200 million next year, Intouch vice president Thanapong Na Ranong said.

“We expect to give more funding for mobile-application start-up companies as part of our plan to support the government’s ‘digital economy’,” he said.

It is already in talks with three of the five start-up companies and will announce their names next quarter.

Yesterday, Intouch announced its funding of Bt15 million to Infinity Levels Studio Co, a Thailand-based producer of games for mobile devices. Under the deal, Intouch will provide Bt15 million as convertible debt to the company for an 18-month term and will return the stake if the company reaches its revenue target.

 

Rubber stocks ‘missing’

The Rubber Planters Network of Thailand has called for the government to investigate a report that 120,000 tonnes of the country’s 210,000-tonne rubber stocks had vanished. 

Phichit-based rubber farmer Weerasak Sidhuwong, who is the network’s public relations officer, said the network and the National Farmers Council had discussed in October having Prince of Songkla University process 210,000 tonnes of rubber in the stocks to boost added value and shore up the price of the commodity. However, the university reported that there was only 90,000 tonnes in the stocks, so the network wants the government to investigate why.