Briefs

The Transport Ministry will ask the Cabinet next Tuesday to approve a budget to buy 3,183 buses powered by natural gas for vehicles worth Bt13.16 billion for the Bangkok Mass Transit Authority.

Transport Minister Chadchart Sittipunt said yesterday that the ministry might set up a committee to follow the procurement to help prevent corruption as recommended by Deputy Prime Minister Kittiratt Na-Ranong.

Italian-Thai signed Bt952 million contract

Italian-Thai Development has signed a Bt952-million contract with the State Railway of Thailand to proceed with the project to improve the railway embankment from Don Muang Station to Tha Lo Station.

The work covers sub-ballast replacement, ballast placing and tamping, embankment widening and concrete slope protection.

900 Blue Flag campaigns planned

The Internal Trade Department plans to hold more than 900 Blue Flag campaigns nationwide this year to help consumers cut their cost of living amid rising prices.

"Blue Flag prices will be 20-40 per cent lower than the market," Viboonluck Rumraksa, director-general of the department, said yesterday.

The products on sale include daily necessities such as rice, vegetable oil, sugar, eggs, instant noodles, soap and toothbrushes.

OK urged for water management scheme

The Public Debt Management Office has asked the Budget Bureau to approve the Bt340-billion budget for the water-management project.

Supa Piyajitti, deputy permanent secretary of the Finance Ministry, who also manages the PDMO, said yesterday that if the Budget Bureau did not approve the project, the PDMO would not be able to borrow the funds according to the plan.

It has borrowed only Bt10 billion for this project.

"We believe that the Budget Bureau will approve the plan by May," she said.

Ministry, BOI lure Japan investment

The Industry Ministry has joined with the Board of Investment in setting up a promotion panel to increase Japanese investment in Thailand by an average of 5 per cent per year until 2014.

Industry Minister Prasert Boonchaisuk said in a press release yesterday that the committee would coordinate with the Industrial Promotion Department, Industrial Estate Department, Japan External Trade Organisation and Japan Chamber of Commerce.

It will focus on small and medium-sized enterprises in Japan. They will be encouraged to tie up with Thailand’s SMEs under the business-matching programme.

This programme targets at least 500 SMEs in Thailand and Japan this year.

Krunghthai-AXA names new CFO

Krunghthai-AXA Life Insurance has appointed Nicolas Fauvarque as its chief financial officer, effective on January 1.

CEO David Korunic said yesterday that Fauvarque would be responsible for financial management, risk management, investments, legal and facilities.

"I believe Khun Nicolas will be a key driving force for the company and will continue the company’s management policy of transparency and good corporate governance," he said.

Fauvarque has long experience in financial and risk management in AXA’s Northern, Central and Eastern Europe operations located out of Belgium. Before joining AXA, he worked at Bain & Company and one of the leading insurance companies in Belgium. His background is that of a mathematician and actuary.

TTA sets up Danish arm

Thoresen Thai Agencies has established Thoresen Shipping Denmark with registered and paid-up capital of 80,000 kroner (Bt432,000).

Thoresen Shipping Denmark is 100 per cent held by Thoresen Shipping Singapore. The Danish office is expected to expand and provide better service to the shipper’s European client base.

- The Nation

Avenue Asia sells TT&T shares

Avenue Asia Capital Partners on December 18 sold 1.11 billion shares of TT&T to Ayuthaya Ltd.

The stake was 16.4 per cent of 6.78 billion total paid-up shares, according to TT&T’s filing to the Stock Exchange of Thailand yesterday.

However, there is no change in the company’s business conduct and management policy, the company’s corporate secretary Trin Indra-Opas said. – The Nation