Briefs

The Government Lottery Office’s board of directors will restructure the lottery quota system with a planned distribution through convenience stores.
Negotiations will be held with Loxley GTECH Technology (LGT) for an online lottery project once the legal draft passes the Council of State’s second reading.
Customs Department director-general Somchai Sujjapongse, who chairs the Government Lottery Office board, said the GLO would finalise its direction and conditions for allocation of lottery quotas for the whole system before the end of this month.
The aim is to solve three problems: overpriced lottery distribution; inspections and arrests; and lottery retake.
“The board members will convene on March 20 to finalise requirements for announcement by April before the first lot of lottery quotas ends. Then the new quota will be open for new lottery traders and juristic persons.
“I also asked the GLO to negotiate with convenience stores on whether any of them will be ready to follow the new requirements and conditions,” Somchai said.
The first lot of 48 million lottery units will end their quota in June and more will end in July and August. About 74 million units will end their quotas by the end of this year.
“From now, it all depends on GLO negotiations with convenience stores or department stores which ones will be ready to abide by the new requirements, including the Bt80 selling price and retail sales only,” Somchai said.
According to the legal draft on the government lottery approved by the Cabinet on Tuesday, the GLO will be able to launch all types of new products. Initially, a six-digit lottery will be distributed online through private companies on expectations of reducing overcharging.
If the bill passes second reading by the Council of State and goes into the third reading, then the GLO will negotiate with LGT for online lottery sales. It may take about three months for sales to start once the bill takes effect.
LGT is a 51:49 joint venture between Loxley and the US-based GTECH Corp.
Somchai said LGT had to abide by the new requirements and more discussions were needed, and its earlier legal conflict with the GLO could not be used for the benefits of LGT.

EXIM BANK TARGETS
5% LOAN GROWTH
The Export-Import Bank of Thailand anticipates that the country’s export slowdown will not have any negative impact on its target of increasing new loans by 5 per cent this year.
Kematat Saicheur, executive vice president of Exim Bank, said it would adopt three major strategic targets to promote new lending, namely border trades, entrepreneurs who want to do business in Asean, and special economic zones.
He said the current value of the baht was at a manageable level for exporters.
Kematat said the bank’s customers, who are exporters, had a good immunity system with strong risk-management procedures. Most exported goods, which are necessities for consumers, are still enjoying good purchasing power. Most exports suffering a slowdown are processed agricultural goods, such as rice and rubber.
He said the movement of the baht was comparable to the currencies of rival exporting countries in this region. In comparison to the US dollar, the baht is still weaker, but when compared to the euro and yen, it has appreciated more.