Briefs

Mutual funds yesterday pleaded for public understanding, amid pressure for them to pull out investment from any companies whose directors were punished by the regulator.
Voravan Tarapoom, chairwoman of the Association of Investment Management Companies (AIMC) said in a letter that all members were not oblivious of the Securities and Exchange Commission’s actions against directors of five listed companies.
However, she urged for public understanding that fund companies’ main focus is on the companies themselves, not individual executives or directors.
If those individuals caught for misconduct are punished and step aside and the companies come up with corrective measures, fund managers would consider whether they should maintain their investment in the companies.
If they do not act as expected, fund managers would exercise their rights at the shareholders meeting.
The association has asked for an explanation in writing from the companies. It is also waiting for the SEC’s next move in improving the qualifications of listed companies’ executives.
She hopes that such changes would lead to equal treatment, appropriate to levels of misconduct. The six companies include Ferrum (formerly MLink), WHA, Bangkok Insurance and Siam Global House.

BANG & OLUFSEN OPENS
FIRST SHOWROOM IN VN

Danish electronics company Bang & Olufsen last week opened its first showroom in Ho Chi Minh City at the Sheraton Hotel.
The showroom, which has the same design concept as the company’s other showrooms around the world, displays the latest products like the BeoLab 90 and wall speaker system. Visitors can listen to music or watch videos on modern audio-video equipment.
Bang & Olufsen came to Vietnam in 2013, opening a showroom in Hanoi that has proved to be successful. – Viet Nam News

SAHA PATHANAPIBUL
TARGETS 10% SALES

Saha Pathanapibul targets 10-per-cent growth in sales revenue this year to Bt32 billion, company chairman Boonchai Chokwatana said.
In the first two months of this year, the company recorded sales growth of 17 per cent compared with the same period of 2015, he said.