Toyota threatens legal action over tax allegations

In a statement, Vudhigorn Suriyachantananont, senior vice president of Toyota Motor Thailand, referred to a complaint filed by the Committee Nation Associate Anti-Corruption Network to the Office of the Ombudsman. In the complaint, the network said the company stated that they imported parts for Prius manufacturing in Thailand when the company actually imported the completely-built units (CBU) which are subject to a higher tariff rate. 

Vudhigorn insisted that Toyota has imported only parts for the manufacturing, since the production line was opened in 2010. For 50 years, he said, Toyota has upheld transparency and corporate governance and it has been loyal to the Thai government and customers, he said. He said the allegation tarnished the company's image and the company is ready to take legal actions if it continues.

 

Siam Wellness Group in spa takeovers

Siam Wellness Group will acquire all four branches of Bann Suan Massage for Bt45 million. 

Executive chairman Wiboon Utsahajit said yesterday that the company would start recognising income from the deal on August 1.

The spas are in Nonthaburi and in Bangkok’s Ram Indra, Ramkhamheang and Charoen Nakhon areas. The acquisition is part of the company’s plan to seek more local business, as foreigners make up 80 per cent of its customers. It is also seeking opportunities to open spas in other key tourist destinations such as Udon Thani, Khon Kaen, Hat Yai and Ayutthaya.

Last year, it recorded revenue of Bt343.3 million. It expects annual revenue to climb 55 per cent this year after the deal.

 

GPSC and partners entering Myanmar market 

Global Power Synergy has joined with Marubeni Corporation, Egat International, SRI Synergy and Ayeyar Hinthar Holdings to sign an agreement with the Myanmar government for a clean-coal power plant in that country. Recently, GPSC submitted its feasibility study to the Myanmar government for the two-gigawatt power plant in Myeik region to support the country’s electricity stability amid a surge in demand from the public sector and industry.

 

TCG increases its loan guarantee target

Thai Credit Guarantee Corporation (TCG) has revised up the target for loan guarantees to small and medium-sized enterprises to a total of Bt100 billion this year.

This came after it succeeded in offering loan guarantees worth Bt42 billion in the first half of this year, TCG president Wanlop Tejapaiboon said yesterday. During the first half of this year, TCG guaranteed loans for 18,000 new customers, of which 9,900 belong to its micro-entrepreneurs scheme.