FRIDAY, March 29, 2024
nationthailand

briefs

briefs

Electricity Generating takes over developer of solar power project in Roi Et

 

Electricity Generating on June 28 completed the acquisition of 99.99 per cent of SPP Five Co, the developer of an 8-megawatt solar power project in Roi Et, from SunEdison Energy Holding (Singapore), boosting its combined total SPP capacity to 30MW. 
SPP5’s commercial operation date was on June 22, according to a non-firm power purchase agreement with the Provincial Electricity Authority (PEA), the country’s first independent power producer said in a statement yesterday. Previously, Egco Group acquired 99.99 per cent of three solar power plant projects – SPP2, SPP3 and SPP4 – with capacity of 8MW, 8MW and 6MW located in Saraburi, Si Sa Ket and the boundary between Si Sa Ket and Ubon Ratchatani. 
SPP2, SPP3 and SPP4 started commercially supplying electricity to the PEA on May 2, February 21 and January 24. 
 
Kingdom courts new trading bloc 
Thailand is looking to strengthen cooperation with a new trading bloc called the “Pacific Alliance” comprising emerging economies, as they will help increase market penetration not only of member states, but also other Latin America countries.
Srirat Rastapana, director-general of the Trade Negotiations Department, said yesterday that the recent formation of the grouping with Chile, Peru, Columbia and Mexico should create opportunities for Thailand to penetrate the market as they will reduce trade barriers among themselves and with their trading partners.
Pacific Alliance also aims to promote trade with Asia-Pacific countries, as it sees strong potential for the region. Thailand will move to cement ties with this new global player in the near future. The US and China are the two largest traders with the alliance. The group is a high-potential market with more than 215 million consumers and gross domestic product of more than US$2 trillion (Bt63 trillion). 
 
New programme from SCB Life Assurance
Siam Commercial Bank has teamed up with SCB Life Assurance to inaugurate a new Best Savings 15/6 life insurance programme offering a six-year term for premium payments, 15-year life protection and repayment guarantee of up to 3 per cent each year. 
Smith Banomyong, executive vice president of the wealth division at SCB, said yesterday that the bank expected the new product to help stimulate the market in the rest of the year. It was designed to satisfy most customers who prefer short-term savings with long protection and high returns. The new product should help total premiums through bancassurance to reach Bt32 billion this year. 
 
World Telecom/ICT indicator meet here 
The Information and CommunicationsTechnology Ministry received Cabinet approval yesterday to co-host the World Telecommunication/ ICT Indicators Meeting from September 25-27 in Bangkok with the International Telecommunication Union.
It will be a platform to discuss telecom and ICT indicators by ITU members in their fields. The forum expects about 400 attendees. The topics include measuring fixed and mobile broadband, including prices, speed and capacity, the revisions to the indicators on household ICT access and individual ICT usage, including aspects of youth and gender, and emerging issues such as measuring digital broadcasting and Internet content. 
 
SCB suspends branch manager over theft claim
Siam Commercial Bank has suspended the manager of its Rama IV branch after an embezzlement claim by a customer. 
In a statement released yesterday, the bank said Thanomsak Chalitangkoon, manager of the branch, was suspended last Friday to pave the way for a police investigation. The bank’s unit dealing with fraud has also notified police of the case. 
Aumboon Chansama, a customer, accused Thanomsak of stealing some money from her account, in which she recently deposited the proceeds from a land sale. 
“We have not been ignorant of the event. If employees are involved in any fraudulent practices, we will follow the law and ensure fairness to clients,” the bank said in the statement. 
 
Q2 deficit hits Bt251.8 bn
Thailand ran a fiscal deficit of Bt251.8 billion in the second quarter of the 2012 fiscal year, due partly to fuel subsidies and the delayed enactment of the 2012 budget law. 
Finance Ministry spokesman Somchai Sajjapongse said yesterday that from January to March, against government revenue of Bt706.57 billion, expenditures totalled Bt958.37 billion. The delay of the budget law, which should have been enacted before the fiscal year started in October, led to huge disbursement in the quarter. The government also saw some off-budget spending for fuel subsidies. Fuel prices spiked in the quarter, before easing in May when the euro-zone crisis dimmed global economic prospects. 
In the first six months of the fiscal year, the deficit was Bt401 billion or 3.5 per cent of gross domestic product, up from Bt322.2 billion in the same half a year earlier. 

 

nationthailand