WATCHDOG ADVISES GUNKUL SHAREHOLDERS
Play
The Securities and Exchange Commission has urged shareholders of Gunkul Engineering to study the information and exercise their voting rights on the proposed investment in a solar-power project at tomorrow's extraordinary general meeting of shareholders.
The Gunkul board of directors has resolved for the company to seek the shareholders’ approval on four asset acquisitions, one of which is the investment in a 67-per-cent stake in Infinite Alternative Energy Co, which holds shares in Rang Ngern Solutions Co worth about Bt5.5 billion.
In this regard, both the board of directors and the audit committee view the transaction as reasonable and beneficial to the company. However, the independent financial adviser is of the opinion that the shareholders should not approve the acquisition because of lower returns than the cost of equity.
Therefore, the SEC advises Gunkul shareholders to study the information thoroughly as well as to seek clarification or explanation from the company directors in order to make a prudent decision on how they will vote.
The SEC requires that any material acquisition and disposal of assets subject to the shareholders’ approval must have the opinion of an independent financial adviser attached to the notice calling for a meeting to provide sufficient information for shareholders’ decision-making.
In addition, such a transaction must be approved by at least three-fourths of the attending shareholders with voting rights, excluding those shareholders with an interest in said transaction.
CHEAP HOMES ON OFFER
The National Housing Authority (NHA) has opened the opportunity for low-income earners to reserve 13,583 units in 244 sustainable house projects nationwide between August 28 and September 6.
Deputy Government Spokesman Sansern Kaewkamnerd said the project aimed to see that low-income earners could have homes in safe areas with convenient access to transport at affordable prices. The units will be priced from Bt300,000 to Bt500,000.
A total of 4.5 million low-income households in Thailand do not own houses.
Those who are eligible to reserve these units must have Thai nationality without any bankruptcy record or being on any blacklist of the Credit Bureau or financial institutions. Their household income must be no more than Bt30,000 per month and they must be able to meet the payment and other conditions set by the NHA.
‘TOP THAI BRANDS’ FAIR
Commerce Minister General Chatchai Sarikulya said the ministry would help organise a world-class “Top Thai Brands” shopping fair to showcase 400 internationally recognised Thai branded products and services.
The fair will be held first at Chiang Mai International Exhibition and Convention Centre from August 26-30. A total of 50,000 visitors including shoppers, domestic and international entrepreneurs and international exporters are expected, with total spending estimated at Bt200 million.
“The main purposes of Top Thai Brands are to promote and showcase internationally recognised Thai branded products and services to the [local] public as well as foreign business visitors in order to [improve] brand awareness among consumers, traders and businesspeople in both the domestic and international markets,” he said.
