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Industrial sector bids for rotten rice
Industrial enterprises have proposed to purchase 37,412 tonnes of rotten rice worth Bt197 million from the government’s stocks, with an average price per tonne at Bt5,020-Bt5,419, the Commerce Ministry said.
Thirteen members of the industrial sector, including electrical producers, biomass companies, and manufacturers of bioplastics, ethanol and fertiliser, joined the bidding yesterday, said Duangporn Rodphaya, director-general of the Foreign Trade Department.
The average cost of rice storage is Bt30 million per a day.
For good-quality rice, the ministry will suspend bidding until March to ensure that market prices will not be affected during the current main harvest season, she said.
Hongsa Power to celebrate commercial power generation
Hongsa Power will hold a celebration next Wednesday to mark commercial power generation at the 1.88-gigawatt power plant in Hongsa district of Xayaboury province.
The ceremony will be attended by high-ranking officials of Laos and Thailand and other foreign guests.
The first power generator was formally put into operation in June and the second generator began operating early last month, while the third one is expected to begin generating in March, the company said.
Banpu Power and Ratchaburi Electricity Generating Holding both share 40 per cent in the project. Lao Holding State Enterprise shares the remaining 20 per cent.
According to a 2014 company report, almost 3,000 Laotians are employed in the plant and this number is expected to rise this year. – Vientiane Times, ANN
Rising demand to bolster insurers’ growth
Rising demand for insurance protection from an ageing population and increasing household wealth will support insurance-premium growth in Thailand, according to Fitch Ratings.
Thailand’s insurance penetration rate remains significantly lower than many of the more developed countries in Asia.
The favourable demographics and tax-deduction benefits, supported by a solid distribution platform, are supportive of solid growth for life insurers.
Non-life insurers should also experience steady growth in the medium to long term, although modest growth is likely next year due to the weak economy.
The expanding middle-to-high-income segment of the population is likely to stimulate demand in endowment and wealth-protection products.
Rising life expectancy will spur growth in health and medical insurance premium income.
Fitch has maintained “stable” outlooks for both the life and non-life segments for next year, based on insurance companies’ solid capitalisation, sound financial performance and low investment and asset risks.
The upcoming second phase of the risk-based capital framework is expected to encourage insurers to be more prudent in their capital management and investment strategy.
Alipay Purchase Card launched
E-money service provider TrueMoney is tapping into the fast-growing Chinese e-commerce industry by launching the Alipay Purchase Card.
The card, which is available for purchase via its Wallet by TrueMoney application, makes it possible for those living outside of China to shop via Taobao and Tmall – the world’s largest e-commerce marketplaces that are also gaining popularity in Thailand.
Punnamas Vichitkulwongsa, chief executive officer of TrueMoney, said yesterday that the company launched the card to link Alipay’s payment platform with consumers in Thailand.
This is the first time the Alipay Purchase Card is available in Thailand and it will pave the way for those in Thailand to access Taobao and Tmall.
