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The Small and Medium Enterprise Development Bank of Thailand’s board of directors on Monday approved the appointment of Mongkol Leelatham as the bank’s new president as proposed by a special recruiting committee.

The recruitment and selection of the new president focused primarily on the potential ability of the candidates to attain the core business objectives and the internal managerial changes required by SME Bank.

After the remuneration package between SME Bank and Mongkol has been agreed, the matter will be proposed to the Finance Ministry. The official appointment of Mongkol as SME Bank’s new |president will then take place accordingly.

auto-parts joint venture

US-based Federal-Mogul Motorparts, a manufacturer and distributor of automotive parts under Federal-Mogul Holdings Corporation, has entered a joint-venture agreement with Loxley under which Federal-Mogul Motorparts will own a majority stake in and have operational control of Parts Zone (Thailand) Co, an established automotive-parts distributor in Thailand.

The joint venture will be based in Bangkok.

Parts Zone currently has four distribution outlets in Bangkok, Chiang Mai and Surat Thani. As part of the joint venture, the number of locations is expected to expand by a dozen additional distribution points, said Dan Ninivaggi, CEO of Federal-Mogul Motorparts.

At present the company has four branches: its headquarters and main distribution centre in Bangkok, one in Chiang Mai, and one in Surat Thani.

isetan remodelled

Isetan yesterday unveiled its new face after a major remodelling, costing Bt200 million, by changing its 3,500-square-metre food floor on the fifth level of the department store into Washoku Gallery under the “This Is Japan” concept. The remodelling is meant to attract more shoppers who love products and services imported from Japan.

The company aims to expand its business by introducing the iconic brand Hello Kitty to create a fun atmosphere and stimulate spending.

Takaki Akune, president of Isetan (Thailand), said the major remodelling offered a similar atmosphere to that of Isetan in Japan. The store’s new face will be ready to welcome the public from tomorrow onwards.