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The Cabinet yesterday gave the green light for laws that help businesses, especially small and medium-sized enterprises, gain easier access to capital, and a legal draft on bankruptcy.

“Investors, particularly SMEs, are waiting for these legal drafts. SMEs have had to place assets like real estate or deliverables as collateral when making borrowings. But in these drafts, it’s unnecessary for collateral to be able to be delivered, like inventory, equipment and raw materials,” said Sansern Kaewkamnerd, deputy government spokesman.

The Cabinet agreed in principle with the draft bills for secured transactions and amendments to civil and commercial codes, as proposed by the Finance Ministry.

More types of collateral for loans will be added to help operators, particularly SMEs and retail owners, to secure financing.

These draft bills will also help boost the confidence of financial institutions in extending credit, as obstacles and problems for repayment are solved.

The Cabinet approved the draft bankruptcy bill, which will be reviewed by the Council of State for forwarding to the National Legislative Assembly.

The Justice Ministry had found that some articles on bankruptcy were not in line with the current economic and social situations and could lead to delays in resolving cases.

Such articles include procedures for requesting to receive repayment and penalties for debtors. Amending these will help shorten the process and speed up bankruptcy cases, Sansern said.

back-to-school sale

The Commerce Ministry will cooperate with modern- trade companies, manufacturers and local retailers to launch a back-to-school sale in May to help cut the cost of living for parents.

Commerce Minister Chatchai Sarikulya said yesterday that the public and private sectors agreed to conduct a “big sale” again to help not only to rein in living expenses but also to simulate domestic spending.

The event will run for 10 days in May before school starts so that parents can purchase supplies at lower prices and people can stock up on cheap consumer goods.

Both sectors also plan to launch another Thailand Grand Sale in the first half of the year, aimed at helping local consumers and attracting foreign tourists.

subscribers return

In the fourth quarter of last year, TrueVisions enjoyed a 25-per-cent year-on-year surge in new subscribers after customers ran into difficulties in using digital TV receivers and redeeming coupons towards their purchase.

Birathon Kasemsri Na Ayudhaya, head of commercial and business development, said yesterday that the sales of subscription packages from October to December also saw the highest growth in the year.

The increase was a result of a re-packaging strategy aimed at reducing barriers to entry by offering free installation and related costs for new customers.

After the National Broadcasting and Telecommunications Commission distributed Bt690 digital-TV coupons to households around the country for the purchase of a set-top box or digital TV set, demand for the company’s packages and pay-TV boxes was affected.

“But after experiencing difficulties with redemption of digital TV coupons and installation of digital TV receivers, some customers returned to becoming our subscribers,” he said.

TrueVisions targets 3 million subscribers by year-end, up from 2.4 million now.