Briefs

Thai Cardif Life Assurance executives yesterday called a meeting with employees to reassure them that there was no plan to lay off all 300 of them, as was reported by local media.
The report had said Thai Cardif would fire 300 staff members under the plan of its major shareholder Thai Life Insurance to consolidate its products into Thai Life’s portfolio. The executives told staff that it was possible that Thai Life would increase its stake in Thai Cardif, which has special expertise in certain products and a non-agency channel using telesales.

ICHITAN PROFIT TARGET
Ichitan, a producer of ready-to-drink green tea and other beverages, targets net profit growth this year of 16-18 per cent, driven by the previous expansion of its plant’s capacity to 1.2 billion bottles per annum. The company posted Bt1.2 billion in net profit last year. Tan Passakornnatee, chairman and CEO of Ichitan Group, said the company would maintain its previous target of Bt7.5 billion in sales this year, up 20 per cent over last year.
The firm’s products are in the consumer-goods sector, in which retail prices are not high, so they have not suffered much from the economic slowdown.