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Thoresen Thai Agencies (TTA) says it expects short-term impacts in the second half of this year from |the global economic slowdown, |particularly in China, and is closely monitoring and assessing how the Chinese authorities are handling the situation.
The company will proceed cautiously and be prudent in its decision-making process on investments in target businesses.
The management realises financial strength is vital amid the current uncertainties, and highlights TTA’s strong financial standing following the recent rise in capital, said Chalermchai Mahagitsiri, the company's president and chief executive officer.
The company is closely monitoring the global economic situation, especially the situation in China, as the economic slowdown could have short-term implications for its performance in the second half of the year.
The on-going situation is not beyond TTA’s expectation, and the company’s management has been taking a cautious approach in business expansion, he added.
To cope with the situation, the company will continue the implementation its cost control policy, maximining fleet efficiency as well |as focusing its service on bulk transport on the more lucrative strategic routes.
Also, the company will have its strategic business Mermaid Maritime negotiate for more favourable contract terms with customers who are mostly leading players in the|domestic and international oil |and gas industries, and offer additional services to generate more revenue.
Meanwhile, PM Thoresen Asia Holdings (PMTA), which has invested in a fertiliser business in Vietnam, |will respond to the current drought |in Asia by working to raise its export volume and earn more revenue |from the management of rental warehouses.
TTA posted a net profit of Bt135.4 million in the second quarter, a decrease of 47 per cent from Bt 254.6 million for the same period last year, and an increase of 147 per cent from the net loss of Bt288.3 million in the first quarter of this year.
MCOT MUST ADVISE NBTC ON ITS NEED FOR 2.6GHZ SPECTRUM
IF MCOT wants to keep using |the 2.6-gigahertz spectrum it will have to tell the National Broadcasting and Telecommunications Commission why it needs it, said NBTC secretary-general Takorn Tantasith.
He said yesterday that if it is found that the spectrum was granted earlier as a concession that has since expired, MCOT had to hand it |over to the commission. If the spectrum is returned to the NBTC, it is expected to be put up for auction next May.
MCOT wants to use the spectrum for a mobile TV service run under contract by Playwork, an IT solutions provider.
The NBTC broadcasting committee had ruled that MCOT had no right to do this, and had to hand over the spectrum. But on Tuesday, that decision was overruled 7-3 by the NBTC board.
The board ruled that the contract MCOT granted to Playwork was not a concession but just a procurement contract.
