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Thailand will begin constructing a Bt400-billion railway in September, the latest move by the military government to kick-start the economy and modernise the country’s ageing rail network.

Thailand has agreed with China to build the 873-kilometre dual-track railway from Nong Khai on the border with Laos to its ports and industrial zones in the East.

Another line would link Bangkok with the central province of Saraburi about 108km away.

“We expect it will cost about Bt400 billion and will be completed within two and a half years from the start of construction,” Transport Minister Prajin Junthong said yesterday.

Work on the first phase joining Bangkok to Saraburi and Saraburi to Rayong is set to commence on September 1. The second phase connecting Saraburi to Nakhon Ratchasima and that province to Nong Khai will begin on December 1.

Prajin told reporters there were some 12-15 companies interested in funding the project. – Reuters

Amata to invest in Vietnam’s Dong Nai

Thai industrial-city developer Amata will invest in three high-tech industrial-park and urban-development projects in the southern Vietnamese province of Dong Nai, news website dddn.com.vn reported.

Amata Vietnam will be the investor in a 753-hectare urban-development project in Tam An commune in Long Thanh district.

A 410-hectare high-tech industrial park and an urban-development project spreading over 122 hectares will be handled by Amata’s affiliates in Tam An and An Phuoc communes in Long Thanh district.

The Dong Nai People’s Committee has established a steering committee to help the investors in getting land clearance and giving compensation. The investors are now working with the Long Thanh People’s Committee to survey the land and hire consultants to develop blueprints for the three projects.

Amata also plans to develop a large-scale high-tech industrial park in the northern province of Quang Ninh and a township complex in the southern province of Binh Dinh. These follow the successful operation of its first Amata City Bien Hoa industrial park in Vietnam, which houses multinational corporations and employs 33,000 workers. – Viet Nam News

 

Asia-Pacific consumers ‘optimistic’

Consumers in the Asia-Pacific region’s emerging markets remain optimistic despite a slight decline in overall consumer confidence, according to the results of a MasterCard survey released yesterday.

This decrease comes after the region recorded the highest consumer-confidence score in more than a decade in the previous survey during the first half of 2014.

Overall Asia-Pacific markets showed optimism despite a decrease of 2.9 points in the MasterCard Index of Consumer Confidence to 65.5 points in the second half of 2014. There were declines across all five key economic indicators for the region.

Within Southeast Asia, consumer confidence rose in the Philippines by 7.7 points, pushing into optimistic territory (77.1). Malaysia saw a deterioration in consumer confidence, down 11.5 to 49.9 points in the second half of 2014, sliding below the 50-point neutral mark for the first time since the financial-crisis low in the first half of 2009.

Vietnam (85.3) and Thailand (83.6) remain very optimistic and Singapore remains optimistic (60.9).

Respondents were asked to give a six-month outlook on five economic factors – the economy, employment prospects, regular income prospects, the stock market, and their quality of life. The index is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral.

Fitch rates Siam Future Development’s new issue of Bt500m

Fitch Ratings (Thailand) has assigned Siam Future Development’s new issue of up to Bt500 million of senior unsecured debentures due in 2020 a national long-term rating of “BBB(tha)”.

The proceeds will be used to refinance maturing debentures.

The notes are rated at the same level as SF’s national long-term rating as they represent direct, unconditional, unsecured and unsubordinated obligations of the retail property developer.

Bangkok residential project launches up 9% in December

A total of 36 new residential projects were launched in Bangkok and its suburbs last month, 9 per cent more than in November.

However, the number of housing units was only 6,615, down 50 per cent, worth a total of Bt13.71 billion, down 64 per cent from November, according to survey by the Agency for Real Estate Affairs.

Airbus exceeds target and sets new plane-delivery record

Airbus exceeded its targets for 2014, achieving a new record of 629 aircraft deliveries for 89 customers, of which eight were new, comprising 490 A320 Family aircraft, 108 A330s, 30 A380s and the company’s first A350 XWB.

These numbers mean that Airbus’ aircraft deliveries were up for the 13th year in a row, surpassing the previous record set in 2013.

Airbus also achieved 1,456 net orders from 67 customers (of which 14 were new), its second-best year ever, comprising 1,321 single-aisle aircraft and 135 wide-bodies. As a result, by year-end, the backlog had climbed to a new industry record of 6,386 aircraft valued at US$919.3 billion (Bt30.1 trillion) at list prices.

At the end of the year, Airbus commanded more than 50 per cent of the market for aircraft with more than 100 seats. The company boasted that its A330neo attracted 120 firm endorsements within just six months of its launch.