Briefs
Play
Loan for Pattaya theatre
Panjaluck Pasuk was recently awarded a credit facility of Bt475 million to support the company’s construction of the D’Luck Cinematic Theatre in Pattaya.
The Export-Import Bank of Thailand hopes that the facility would drive the growth of tourism and economic |expansion of the country in line with |the government’s tourism promotion roadmap and the bank’s objective of supporting foreign exchange businesses.
Nano-finance provider tests software system
TK Ngern Tan Jai, the nano-finance subsidiary of Thitikorn Plc, has started providing loans at 10 branches to test run its credit software system before gearing up for full operation in the |second half of this year.
Thitikorn has 92 branches in 54 provinces, which TK Ngern Tan Jai will use.
Chairwoman Prathama Phronprapha said yesterday that the credit system for nano finance is different from the |software used for the hire-purchase business.
However, TK Ngern Tan Jai will |provide nano finance to the customers of Thitikorn because Thitikorn knows the payment habits of those customers well.
During Thitikorn’s 10 years of operations, it has served more than three| million customers, and some of them have asked about nano-finance with |the company after learning that it has |a nano-finance subsidiary.
Nano lending has been initiated by the junta government to help small businesses access formal funding.
A borrower can get a maximum of Bt100,000 without collateral. Interest including fees cannot exceed 36 per cent per year.
Insurance reform sought
The Office of Insurance Commission will on Monday propose to the working committee on reforming crop insurance under the National Reform Steering Assembly to design a law specifically for governing crop insurance in a bid to reduce risk to farmers in the long term.
“Crop insurance should have a special law since this matter should be a national priority in order to help manage risk to farmers in the long run even though the government will change,” Suthiphon Thaveechaiyagarn, secretarygeneral of the OIC, said yesterday.
After the working committee, the law will be proposed to the subcommittee on monetary, fiscal and budgetary affairs to be forwarded to the Cabinet.
For the shortterm preparation of crop insurance this year, the OIC has agreed with the General Insurance Association to ask the government to set up a compensation fund for farmers who are in the outer area of insurance coverage.
Premiums and protection coverage should be adjusted, he said.
The association is discussing this with foreign reinsurance companies.
To adjust conditions to cover crops that are not in the disaster area have |limited The association informed the OIC that adjusting the conditions might not be suitable because foreign reinsurance companies and farmers are familiar with the existing conditions of this policy.
The OIC is making a trending for the trainers to educate local officers on crop insurance.
The OIC has joined with the Bank for Agriculture and Agricultural Cooperatives to educate both the OIC and the bank’s staff before crop |insurance is introduced to farmers and the public.
Luck Wajananawat, president of the BAAL, said the bank will work with the OIC to promote crop insurance to |farmers in order to achieve the target |of three million rai this year.
Last year, 92,064 farmers bought crop insurance for 1.51 million rai.
