Alibaba eyes joint investment with Crown Tech Advance

Crown Tech Advance released the information yesterday as it was suspended from trading on Tuesday following a takeover rumour. 

 In a filing to the Stock Exchange of Thailand, chief executive officer Amorn Meemano denied the rumour of a takeover.

 He said the company and Alibaba were in the preliminary stage of negotiations for the joint investment project. There has not yet been a formal letter confirming the talks, he added.

 He also mentioned progress in the planned joint venture with YTO Express, a Chinese logistics company. 

 “The management is currently considering the business plan and scope of work with YTO Express, to conclude the framework of investment within the fourth quarter of this year,” he said. – The Nation

 

Supinya seeks clarification from NBTC over radio station

Supinya Klangnarong, a member of the National Broadcasting and Telecommunications Commission (NBTC), yesterday lodged letters with the chairman and secretary-general of the watchdog for further clarification on the selection process of content provider for the FM 98.5MHz – 1 Por Nor – radio station, on bandwidth held by the Office of the NBTC. 

 In the letters, Supinya asked the chairman to order the secretary-general to provide all information and documents related to the process.

 The NBTC administration must do this in order to ensure that the process was transparent, she stressed. 

 She believes that during the reframing of radio frequencies, the Office of the NBTC, which holds some of the bandwidth, should avoid involvement with any activities that potentially create a conflict of interest. – The Nation

 

Honda profit up 6.9 per cent on strong US, Asia sales

Honda Motor said yesterday that its net profit for the July-to-September quarter had risen 6.9 per cent from a year earlier to 127.7 billion yen (Bt37.3 billion), due to cost-cutting measures and robust sales in Asia and North America.

 Japan’s third-largest carmaker said its operating profit for the three-month period had edged down 2.5 per cent from the same period last year, while sales were up 15.6 per cent.

 Vehicle sales in North America climbed 9 per cent year on year to 473,000 units in the quarter, and those in Asia rose 27.4 per cent to 395,000, while the carmaker sold 168,000 units in Japan, down 4.5 per cent from the same period last year.

 Honda slightly raised its sales forecast to 14.6 trillion yen for the financial year through March 2016, from 14.5 trillion yen estimated in July.

 The company maintained its net profit forecast at