Briefs

A headline-inflation target would be easier for people to understand as it includes food and energy prices, the Bank of Thailand reiterated in a new report, insisting that the change from core inflation will not affect its monetary-policy decisions.
After the Cabinet approved basing targets on headline inflation, this year’s targeting framework is 1-4 per cent, with a 2.5-per-cent midpoint.
The 2014 target was for core inflation, which excludes prices of fresh food and fuel, and was set at 0.5-3.0 per cent. Fresh food accounts for about 27 per cent of the Consumer Price Index.
The headline-inflation target will be easier for people to understand as they make decisions on consumption and savings, the BOT report said.
The central bank warned, however, that headline inflation might be highly volatile and might not stay within the target framework all the time, as temporary impacts from supply shocks could not be controlled by monetary policy.
Expectations of lower global inflation was cited as the reason for changing the midpoint from 3.0 per cent to 2.5 per cent.
Since May 2000, headline inflation has averaged about 2.5 per cent.

OIL PRICE SLIDE MAY |HIT VAT REVENUE
Deputy Finance Minister Wisut Srisuphan said he accepted that the drop in oil prices would have an impact on revenue from value-added tax compared with last year, but said this would be compensated for by higher excise income due to last month’s tax reforms.
The Finance Ministry will revise its tax-revenue spending estimates for the 2015-16 fiscal year before proposing the budget for that fiscal to the Cabinet.
“It is too early to say how much tax income for the 2015-16 fiscal year will be,” he said.

STOCK EXCHANGE TO HOST ‘GATEWAY TO GMS’
The Stock Exchange of Thailand and Maybank Kim Eng Securities (Thailand) will jointly host “SET-Thai Corporate Day 2015: Thailand, Asean’s Gateway to GMS” on January 26 and 27 in Bangkok, reinforcing the SET’s position as an investment hub of the Greater Mekong Subregion, SET president Kesara Manchusree said.
More than 40 Thai listed companies that have businesses, investments or branches in the GMS, with combined market capitalisation of Bt3.4 trillion, or 25 per cent of the total market value, will participate in the event. They will present their strengths and effectiveness to institutional investors from all over the world, she said.
Maybank Kim Eng Thailand Co-CEO Montree Sornpaisarn said Thailand was regarded as an attractive country for investment. In 2015, the Thai economy is expected to grow by 4 per cent, which will help enhance investment in the Thai capital market. Thailand has become a regional investment hub thanks to the variety of its capital market’s products, its efficiency and its internationalised processes.

COLLIERS APPOINTS EXECUTIVE DIRECTOR FOR ASIAN MARKETS
Colliers International has announced the appointment of Dominic Chung as executive director for Asian capital markets and investment services, as activity in the sector surges amid renewed growth prospects.
Chung has more than 25 years of real-estate experience, with more than 20 years focusing on investment transactions – 10 years of which were in the mainland China market. In his new role, he will assist clients in their major investment transactions across Asia, in collaboration with local investment teams.
“In view of the active traffic and the good long-term growth prospects in the region, we were searching for a capable person to strengthen our leadership position in the capital-markets and investment-services area,” said Terence Tang, managing director for capital markets and investment services in Asia.
“Dominic has an impressive and diverse list of accomplishments in investment markets in Hong Kong [and] mainland China as well as a substantial cross-border transaction track record in Asia and North America.
He will play a key role in the implementation of our next phase of growth.”
Before joining Colliers International, Chung was the co-head of investment properties (China) and head of investment properties (Hong Kong) at CBRE from 2010 to 2014. During that period, he revamped the investment agency in China and built up the Hong Kong investment department from a small team into a sizeable agency with strong market presence and record earnings in subsequent years.
Chung will be based in Hong Kong and will work closely with local senior investment executives, particularly in North Asia.

KRUNGSRI NAMES ITS NEW MNC BANKING HEAD
Krungsri (Bank of Ayudhya), a member of Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial groups, has announced the appointment of Motoi Mitsuishi as head of Japanese and multinational corporations (JPC/MNC) banking, effective January 5.
The JPC/MNC banking group was established as a result of the integration of the Bank of Tokyo-Mitsubishi UFJ (BTMU) Bangkok branch with Krungsri.
The establishment signifies the strategic intent of Krungsri in capitalising on gains from BTMU’s global reach in terms of Japanese and MNC customer bases. By capitalising on BTMU’s product capabilities and global network coverage, Krungsri says it is well positioned to deliver global financial solutions that best fit customers’ business and investment requirements.
As head of JPC/MNC banking, Mitsuishi will lead Krungsri’s efforts to expand the business significantly and comprehensively serve the financial needs of Japanese corporations and multinationals.
Previously the executive officer of BTMU and general manager of its Bangkok branch, Mitsuishi has more than 25 years of commercial-banking experience in Thailand, Japan and the United States.
He began his banking career at the Mitsubishi Bank in 1987 (currently the Bank of Tokyo-Mitsubishi UFJ) and was later assigned to the Mitsubishi Bank’s New York branch.
He held several senior executive positions at BTMU Tokyo’s corporate banking division and global planning division before joining BTMU Bangkok branch as general manager in May 2012.
Mitsuishi holds a bachelor’s degree in Law from the University of Tokyo and obtained a master’s degree in law from the University of Pennsylvania.