Briefs

Some banks have lowered their exposure to the renewable-energy sector after the Administrative Court revoked a land-lease contract between the Agricultural Land Reform Office and Thep Sathit Wind Farm Company.
Arthid Nanthawithaya, president and CEO of Siam Commercial Bank, said that it had suspended lending to wind-farm developers after the Thep Sathit case. Even though Thep Sathit is not a client of SCB, the judgement was enough to cause the bank to consider the risk of lending to this industry.
Suwat Techawatanawana, executive vice president of Kasikornbank, said the bank also had to review its lending to this industry.
The Supreme Administrative Court on  Tuesday upheld the cancellation of a contract between the Agricultural Land Reform Office and Thep Sathit, under which leased land was to have been used for installation of a wind turbine in tambon Banrai, Muang district, Chaiyaphum province.
Energy Absolute, which owns Thep Sathit Wind Farm Co, on Wednesday informed the Stock Exchange of Thailand that the wind-farm project involved in the court case was different from and not relevant to the Hanuman Project, an EA wind-turbine project with total capacity of 260 megawatts that is also in Chaiyaphum province.
EA in 2012 purchased all of the shares of Thep Sathit, which has not signed a power purchase agreement with the Energy Generating Authority of Thailand and has not yet start developing its project. Moreover, EA has not received any documents concerning this matter either from the Agricultural Land Reform Office or the Administrative Court, the company reported to the SET.

NHA SIGNS DEVELOPMENT 
MOU WITH MRTA

The National Housing Authority (NHA) yesterday signed a memorandum of understanding with the Mass Rapid Transit Authority to proceed with residential-project development along the MRTA routes for low-to-medium-income earners. 
This MoU is a three-year extension of an earlier one that expired on September 27, 2015. 
NHA has arranged a master plan on residential-project development in areas it holds along the MRTA routes from 2015-2029.
NHA also conducted a feasibility study for the development on three plots of NHA and MRTA land in the areas of Klong Bang Phai Station in Nonthaburi, Bang Ping Station in Samut Prakan and Min Buri Station in Bangkok. 

S’PORE INBOUND INVESTMENTS 
‘LIKELY TO MATCH 2016’

Despite the uncertainties in the global economy, Singapore hopes to secure inbound investments this year comparable to last year’s, the Singapore Economic Development Board said yesterday.
The investment promotion agency said at a year-in-review briefing that it expected to attract between 8 billion and 10 billion Singapore dollars (Bt199 billion to Bt249 billion) in inbound fixed assets investments, and create 19,000 to 21,000 jobs. A total of S$9.4 billion in inbound investments were made last year that are expected to result in 20,100 new jobs. This is down from S$11.5 billion in 2015 and the lowest in recent years. – The Straits Times

ASIAN STOCKS SLUMP, 
DOLLAR WEAKENS 

The SET Index dropped by 3.65 points yesterday to close at 1,572.67, with trade value of Bt51.1 billion.
Hong Kong shares also closed lower amid thin trade across most Asian markets. The Hang Seng Index fell 0.57 per cent, or 133.87 points, to 23,184.52. Mainland Chinese markets were closed for a public holiday.
Meanwhile, Tokyo stocks ended lower, hit by a stronger yen and concerns about the outlook for the global economy as US President Donald Trump settles into the White House.
The day began on a positive note but equities soon retreated as the yen advanced against the US dollar after a tepid statement from the US Federal Reserve on monetary policy.
Fed policymakers noted healthy economic growth, job gains and improving business and consumer confidence, but gave little away about their monetary-policy plans. – AFP