Newsfeed

The Securities and Exchange Commission (SEC) has revised several regulations concerning investment policies of mutual funds and provident funds to enhance flexibility and compliance with international guidelines and market development, SEC secretary-general Rapee Sucharitakul said.

He added that the amendments, which were approved recently by the Capital Market Supervisory Board, aimed to increase competitiveness of the ever-growing asset-management business by, for example, relaxing several requirements. In so doing, appropriate investor protection is maintained, and more investment choices promoted.

These amendments aim for practical implementation in the growing mutual-fund industry, with an average growth rate from 2009-2015 as high as 17 per cent per year and the current total net asset value as high as Bt3.6 trillion.

Fitch approves of NGV price move

Fitch Ratings says Thailand’s plan to remove the cap on the retail price of natural gas for vehicles (NGV) is positive for the oil and gas sector.

Prices of all types of fuel in Thailand will reflect actual costs once the latest NGV reforms are effective, after price reforms for liquefied petroleum gas (LPG) were implemented in February last year and an NGV price increase was imposed in the fourth quarter of 2014.

Meanwhile, Moody’s Investors Service has placed all ratings of Thai Oil, PTT Global Chemical and IRPC on review for downgrade. The review on the ratings of these related entities follows the review for downgrade on the ratings of parent PTT initiated on Friday.

Da Nang-Bangkok |flight for Tet

Vietravel will launch a chartered flight between Da Nang and Bangkok during Tet, as the Lunar New Year festival is known in Vietnam, next month.

The company said the chartered flight would use the 180-seat Airbus A321 to carry tourists from February 2-21.

It has offered a package tour at 6.9 million dong (Bt11,000) per person. – Viet Nam News

 

TAT launches new ‘responsive’ websites

The Tourism Authority of Thailand has relaunched its main website, www.tourismthailand.org, which it says has been redesigned and redeveloped to provide a user-friendly viewing experience across all devices, from desktop computers to mobile phones.

Meanwhile, the TAT Newsroom website, www.tatnews.org, also boasts a fresh look with a responsive design, said TAT governor Yuthasak Supasorn.

TAT is continuously developing its strategies and tools to reach as many global travellers as possible to promote the wide plethora of Thailand’s tourism products and services, he said.

“Our new-look websites, both featuring a responsive design – the latest trend in website development – reflect our intentions to provide all the information and functionality that our travellers and media friends require to plan a trip to Thailand or to learn the latest news and updates on our travel and hospitality industry,” he said.

Builders’ association targets 15% market growth

Thailand’s Home Builders Association targets 15-per-cent growth year on year in market value to Bt12 billion in 2016, president Pichit Arunepunlop said at press conference yesterday.

The association will host “Home Builder Focus 2016” from March 10 to 13 at the Queen Sirikit National Convention Centre in Bangkok and expects to attract about Bt1 billion in contract value during the event.

Micro-credit scheme outlined

State-owned lender Bank Negara Indonesia will make available 11.5 trillion rupiah (nearly Bt30 billion) for its 2016 micro-credit (KUK) programme, a BNI banker said.

Credit allocations will be 10 trillion rupiah for the retail sector, 1 trillion rupiah for workers and the remaining 500 billion rupiah for micro loans, said BNI business banking II director Sutanto.

The 2016 lending target is three times the 3.04 trillion rupiah in disbursed loans, most of them for the retail sector, he said.

The Indonesian government aims to channel up to 120 trillion rupiah in KUK loans this year compared with the 30 trillion rupiah in targeted loans in 2015. – The Jakarta Post

Johor economic strategy

The Malaysian state of Johor is focusing on the creative, hospitality and tourism sectors as the major segments to drive economic growth.

Mentri Besar (Chief Executive) Mohamed Khaled Nordin said his state should not be too dependent on certain economic activities in view of the unfavourable global economic situation.

“We will review investment strategic plans from time to time according to the global economic scenario,” he told reporters after opening the Multimedia University Nusjaya @ Johor at EduCity Hub.

Mohamed Khaled said it was becoming more challenging to continue attracting new investments into Johor nowadays but it could be accomplished with the right strategic plans.

He said “every day was a challenge” for Johor to attract foreign investors as other states in Malaysia and countries in the region were also aggressively attracting them.

“Like businesses big or small which are diversifying their products or services, we also have to do the same to remain relevant and attractive,” he said. – The Star