Briefs

The Gold Price Sentiment Index rallied for the second month by 8.9 per cent or 5.29 points to 64.92 points this month, reflecting higher confidence in gold prices.
Piboonrit Viriyaphol, director of the Gold Research Centre, yesterday cited concerns over uncertainties for the global economy, the US president’s economic policy, the baht’s appreciation, demand for safe-haven assets and speculation in the index’s rise. 
February’s global gold price is expected to move in a range of US$1,161-$1,260 an ounce, while the local gold price is estimated to stay in the range of Bt19,000-Bt21,000 per baht weight. 

BANK SURE OF STABILITY 

The Small and Medium Enterprise Development Bank of Thailand’s president said public service account loans have not undermined the bank’s financial status.
The bank has taken sufficient loan loss provisions as required by the Bank of Thailand and prudent measures for loan monitoring, while debtors are practising financial discipline.
Mongkol Leelatham said yesterday that more than 80 per cent of borrowers continue doing business, while all continue to service their debt. 
As of last December, the bank’s outstanding PSA loans totalled Bt25.69 billion. Most came from relief measures, including loans to politically affected projects, loans for natural-disaster victims and policy loans for SMEs before 2015 when crises happened. 
Its non-performing PSA loans totalled Bt5.65 billion, part of its total NPLs of Bt17.82 billion, which were 19.02 per cent of total loans as of December 31.
“From 2015, the bank has been engaged in a rehabilitation process with improvement in new loan extension and NPL management, while strengthening SME Bank’s financial status,” he said. 

AEON SEEKS MORE THAI PRODUCTS 

Aeon of Hong Kong is seeking new Thai food products to stock its stores. 
The move came after the Department of International Trade Promotion’s Commercial Affairs Office in Hong Kong held a sourcing trip last Thursday, matching Aeon Stores’ executives with 58 Thai agricultural and food producers. 
Interest was shown in ice cream, dried fruit, chilli paste, ready-to-eat food and noodles, nut and rice snacks and coconut-made products. 
“This trade negotiation with Aeon Stores aimed to search for new Thai food products with quality for Hong Kong’s taste to be distributed in its stores,” Malee Choklumlerd, director-general of the department, said yesterday.
“The selected products will be launched at the Aeon Thailand Food Fair taking place in 12 branches of Aeon Stores across Hong Kong from May 11-24,” she said.
The event will be organised by Aeon Stores and the Commercial Affairs Office in Hong Kong with support from the Tourism Authority of Thailand and Thai International Airways. 

LEGAL VEHICLE TRADE DECLINES

Although vehicle trading volume is increasing in Myawaddy, Myanmar, legal imports have declined. According to the new import vehicle policy, only left-hand-drive vehicles are allowed into Myanmar, and Toyota Vigos, which are used for business, are now prohibited from entering the country by land. 
The new policies have been largely ignored and legal imports have declined, according to businessmen from the Myawaddy border gate.
“Previously, Toyota Vigo imports were high as they were useful for business and suitable for roads in our country. But now, only trucks and loading vehicles can be legally imported. 
“At present, vehicle imports via land are not allowed. Last month, we imported 12-wheel vehicles,” said a businessman from the border area who chose to remain anonymous.
Myanmar changed its policy this year to prohibit the import of right-hand-drive vehicles. 
Over land routes, only mini buses, trucks and 12-wheel cars can be imported. Due to the import restrictions, investors have faced losses. – Myanmar Eleven