Bangkok Post (Bangkok, Thailand) articles from October 2001

Bangkok Post (Bangkok, Thailand) archives from October 2001

Thai State Banks Begin Transferring Assets to Debt Workout Agency.
October 1, 2001... Byline: Parista Yuthamanop Oct. 1--Operations of the state-owned Thai Asset Management Corp are expected to formally begin today, when state banks will begin transfer of assets to the debt workout agency. TAMC president Lt Yodchai...

Bangkok Post, Thailand, Business Briefs Column.
October 1, 2001... Oct. 1--DBS CONFIRMS PRICE OF BROKERAGE SALE: DBS Group Holdings said Barclays Bank would pay S$17.3 million for DBS Thai Danu Securities. DBS Group subsidiaries DBS Thai Danu Bank and DBS Securities Holding are selling their combined 100...

Thai Mobile-Phone Operators Await Public Response to New Technology.
October 1, 2001... Byline: Kanchana Pleumjit Oct. 1--Even though mobile-phone operators are rushing to be first to introduce technology known as GPRS (General Packet Radio Service) in an attempt to lead the market, the industry at large is unsure whether the...

Bangkok Post, Thailand, Company Reports Column.
October 1, 2001... Oct. 1--Bangkok Bank said it had redeemed all its investments in JGW Holdings, totalling 1,416 shares worth 626.68 bt, due to its liquidation. -- Ch. Karnchang said it had signed a construction contract worth 74m bt with the Supreme...

State Railway of Thailand Presses for Government Bailout.
October 1, 2001... Oct. 1--The loss-ridden State Railway of Thailand will remain in debt forever, even if it is privatised, unless the government helps meet the cost of infrastructure, the same way it assisted the skytrain and subway, according to Saravudh...

Thailand's Siam City Bank Boosts Lending.
October 1, 2001... Oct. 1--Siam City Bank is ready to compete aggressively, following the introduction of its new organisational structure, according to Apisak Tantivorawong, the president. "We have already achieved new loans totalling 4.6 billion baht,...

Thai Distilleries Restart Liquor Production.
October 1, 2001... Byline: Soonruth Bunyamanee Oct. 1--Almost two years after the liberalisation of the liquor industry, 11 privatised distilleries began production late last month. When the government freed up the industry in January 1999, bids were...

Thai Online Trading May Take Off Once Investors Gain Confidence in System.
October 1, 2001... Byline: Krissana Parnsoonthorn Oct. 1--Jane, a young executive working at a local export company, glances down at her mobile phone. A message has just arrived in her mailbox, notifying her that one of her portfolio stocks has just passed a...

Thai Shippers Balk at Rent for Bangkok Port Offices.
October 1, 2001... Byline: Srisamorn Phoosuphanusorn Oct. 1--Shipping companies remain cool on Bangkok Port's revised rent for its new office building, arguing the charge is too high. The Port Authority of Thailand (PAT) recently decided to lower the...

Thai Small-Enterprise Development Bank Sets High Loan Targets.
October 1, 2001... Byline: Soonruth Bunyamanee Oct. 1--The Finance Ministry has set an ambitious three-year lending target for the new SMEs Development Bank, whose managers want legal protection against possible damages or losses that might result from...

Telecom Network Usage Rights New Barrier in Thai Deregulation Talks.
October 1, 2001... Oct. 1--Just when private telecommunication companies and the government were inching toward agreement on a framework for converting state concessions to contracts, a new stumbling block has arisen over compensation to the government. The...

Bangkok, Thailand, Skytrain Pins Financial Hopes on Route Extensions.
October 1, 2001... Byline: Charoen Kittikanya Oct. 1--The skytrain operator, Bangkok Mass Transit Systems, has made little headway in efforts to restructure its debts totalling more than 30 billion baht, according to an executive at the company. Of the...

Bangkok Post Travel Column.
October 1, 2001... Byline: Imtiaz Muqbil Oct. 1--Global travel and tourism is confronting a bleak scenario for at least several months to come but all indications are that Thailand is managing to hold its own so far. While there is general relief that...

Christian Dior's New Watch Targets Young Generation.
October 1, 2001... Byline: Nondhanada Intarakomalyasut Oct. 1--After reviving Christian Dior's image in fashion apparel, handbags and glasses, John Galliano, designer at the French fashion house is focusing on watches with a worldwide launch of his own...

Siam Motors Offers Majority Holdings.
October 2, 2001... Byline: Santan Santivimolnat Oct. 2--Siam Motors Co will offer foreign partners stakes of up to 70 percent when expanding new and existing joint ventures The company says its new policy is a practical way to adapt to globalisation. ...

Bangkok Post, Thailand, Business Briefs Column.
October 2, 2001... Oct. 2--AUTO, PARTS EXPORTS UP 43.3 PERCENT TO AUGUST: Exports of Thai-made automobiles and parts rose year-on-year by 43.3 percent to 68.57 billion baht in the first eight months of this year, according to MMC Sittipol Co. Exports of...

Study Shows Thai Business Confidence Down.
October 2, 2001... Oct. 2--Business confidence in August showed steady declines across all sectors, with only 21.3 percent of companies expecting improved corporate profits in the near-term, according to the Bank of Thailand. Asked about prospects for the...

Bangkok Post, Thailand, Insider Column.
October 2, 2001... Oct. 2--PRICEY TOYS ON TYCOON'S FOR-SALE LIST: In the market for a private island? How about a luxury yacht, a private plane or a wine collection? These baubles and more can be yours if you'd care to get in touch with one of America's...

Lenders Seek Alternatives to Mexican Cement Firm's Takeover Offer.
October 2, 2001... Oct. 2--The planned takeover of TPI Polene Plc by Cemex of Mexico is on hold following a decision by creditors to consider proposals offered by other multinational cement companies. Cemex last week signed an agreement with Prachai...

Bangkok Post, Thailand, Company Reports Column.
October 2, 2001... Oct. 2--Ayudhya CMG Life Assurance said Ralph Norris had resigned as a director. -- Bangkok Bank said that as part of First Steel Industry Plc's debt restructuring, the bank had accepted the transfer of 5m common shares, raising its stake...

Thai Inflation at 1.8 Percent in First Nine Months.
October 2, 2001... Byline: Phusadee Arunmas Oct. 2--The Consumer Price Index rose 1.4 percent year-on-year while the inflation rate in the first nine months of this year was 1.8 percent, according to the Internal Trade Department. But the department...

Bangkok Post, Thailand, Finance Column.
October 2, 2001... Oct. 2--The success of micro-finance services and institutions in several countries compared with earlier lending programmes can be seen as a process of learning from mistakes made in the past. The abolition of subsidised lending to special...

Thailand Policymakers Will Not Cut Interest Rates.
October 2, 2001... Oct. 2--Thai policymakers have ruled out any plans to cut interest rates, saying current rates are appropriate given the current environment. Prime Minister Thaksin Shinawatra yesterday said local rates were already low and there was no...

Thai Finance Company Seeks Alternative-Market Listing.
October 2, 2001... Byline: Krissana Parnsoonthorn Oct. 2--United Factoring (1993) Co plans to seek a listing on the Market for Alternative Investment by the middle of next year to mobilise funds to lower its lending costs. The factoring company would...

Hard Times Bite Into Moon Cake Turnover in Thailand.
October 2, 2001... Oct. 2--The sale of moon cakes has been partially eclipsed by economic worries facing consumers who are also gloomy about world events. Moon cake producers said sales ahead of the annual festival that took place yesterday were 20 percent...

Thailand Music Firm Finds Teaching Children Brings Rewards Other Than Money.
October 2, 2001... Byline: Santan Santivimolnat Oct. 2--Few people get rich by teaching music but the job satisfaction can be immense. That's the case at Siam Music Yamaha Co, which provides music courses for children. As Wichian Sukpumarin, managing...

Trade-Centre Tower Work in Bangkok, Thailand, Can Restart.
October 2, 2001... Oct. 2--Construction of the World Trade Centre's 63-storey office tower can go ahead after the Central Bankruptcy Court's dismissal of a case filed by Siam Commercial Bank against its debtor, World Trade Tower Bangkok Co. On Sept 25, the...

IMF Urges Thailand to Cut Interest Rates.
October 2, 2001... Oct. 2--The IMF yesterday called for Thailand to cut interest rates to speed up the resolution of bad debts and help stimulate the economy as export industries suffer from the global economic slowdown. Thailand should see positive gross...

Thailand Industrial Land Firm Is Poised to Realise a Profit.
October 2, 2001... Byline: Busrin Treerapongpichit Oct. 2--Amata Corporation Plc, the developer of Bang Pakong Industrial Estate, expects to be debt-free and to begin making profits by the end of this year after a four-year process of debt restructuring. ...

Thai Shrimp Sales Weather Terrorism.
October 2, 2001... Oct. 2--Thai shrimp exports to the United States are back on schedule after a brief delay caused by the terrorist attacks on Sept 11, according to Paiboon Ponsuwanna, president of the Thai Frozen Foods Association. Shipments were being...

Tawan Mobile Telecom Plans to Use New 2.5G Services.
October 2, 2001... Byline: Mongkol Jullayothin Oct. 2--Due to tougher competition and economic uncertainties, Tawan Mobile Telecom has decided to skip 2G technology and incorporate the more advanced 2.5G version in its mobile phone service. As a result,...

PTT, Toyota to Develop Biodiesel Fuel.
October 2, 2001... Byline: Yuthana Praiwan Oct. 2--In its first move after officially becoming a public company, PTT Plc is due to sign an agreement tomorrow with Toyota Motor (Thailand) on a one-year project to develop biodiesel fuel. Two types of fuel,...

Thailand Villagers Get Help in Quest for Markets.
October 2, 2001... Byline: Somporn Thapanachai Oct. 2--Communities making products under the One Village, One Product programme are receiving help from the Export Promotion Department in finding markets. The department's design centre was helping them...

Downturn Set to Hit Thai Media.
October 3, 2001... Oct. 3--Local media outlets will compete even more fiercely next year for shrinking advertising budgets caused by the global economic slump, according to the country's largest media house. All media, except television, would suffer because...

Thai Exporter Criticizes Government Plan to Bolster Rice Prices.
October 3, 2001... Oct. 3--The government's plan to take 44.7 billion baht from its 58-billion-baht economic stimulus plan to prop up rice prices has drawn fire from the country's largest rice exporter. The huge sum devoted to purchasing paddy from the next...

Thai Airways Takes Cost-Cutting Steps with Goal of Saving Two Billion Baht.
October 3, 2001... Oct. 3--Thai Airways International will cut costs by two billion baht this fiscal year to adjust to the changed landscape in the global aviation industry. Cutting flights on unpopular routes, freezing hiring and investment, and closing...

Thailand Bank Board Gives Approval to Rise in Principle.
October 3, 2001... Byline: Cholada Ingsrisawang Oct. 3--Smiles are becoming increasingly rare these days among local bank executives. It's not hard to understand why, as the slowing economy and increasing bad debt levels gives rise to talk of bonus cuts and...

Bangkok Post, Thailand, Business Briefs Column.
October 3, 2001... Oct. 3--SEAMICO TOPS BROKERAGE TABLE: Seamico Securities led local brokers in September with 21.1 billion baht worth of securities traded or 9.61 percent of total market turnover, the Stock Exchange of Thailand said yesterday. Ranked...

Cineplex Firm to Open New Bangkok Complexes.
October 3, 2001... Byline: Bamrung Amnatcharoenrit Oct. 3--Major Cineplex Co has announced plans to open two new complexes in Bangkok next year as part of a strategy to become the country's largest chain in 2005 with 100 screens. Each complex will cost...

Bangkok Post, Thailand, Company Reports Column.
October 3, 2001... Oct. 3--Agripure Holding said its board on Sept 27 renewed the term of the audit committee for another two years, effective Oct 1. --Aromatics (Thailand) said it had appointed Thai Thanakit Securities as the independent financial adviser to...

Programme for Thailand Industry Aid to Start This Month.
October 3, 2001... Oct. 3--A programme allocating 6.2 billion baht from the government's economic stimulus package to local industries is likely to kick off this month. The Federation of Thai Industries (FTI) and related industrial institutions yesterday...

Thailand Electricity Firm Plans 44 Billion Baht Debentures.
October 3, 2001... Byline: Busrin Treerapongpichit Oct. 3--Ratchaburi Electricity Generating Holding Plc plans to issue 44 billion baht worth of debentures early next year to refinance debts, according to managing director Boonchoo Direksathapon. The...

Thailand Officials Are Opposed to New Energy Ministry.
October 3, 2001... Byline: Yuthana Praiwan Oct. 3--The government's proposal to set up an energy ministry that would group all energy-related agencies together is being opposed by Industry Ministry officials who are sceptical about its efficiency and...

Food Industries in Thailand Show Potential Despite Economic Downturn.
October 3, 2001... Byline: Sukanya Jitpleecheep Oct. 3--Siam Makro, a cash and carry wholesaler, is placing greater emphasis on capturing business from restaurants and the food industry to balance its sales to grocers which may decline in the future. ...

U.S. Interest Rate Cuts Could Influence Thai Policy.
October 3, 2001... Byline: Parista Yuthamanop Oct. 3--Interest rate policies by the Bank of Thailand are unlikely to be tested unless offshore interest rates fall significantly further or bank lending picks up sharply. Many analysts expect that with the...

Internet Thailand Plans 270 Million Baht Diversification.
October 3, 2001... Byline: Charoen Kittikanya Oct. 3--In an attempt to offset an expected decline in Internet access revenue, Internet Thailand Plc plans to invest over 270 million baht over three years to diversify into other areas, aiming to generate at...

Thailand Oil Business to Maintain Investment Budget.
October 3, 2001... Byline: Yuthana Praiwan Oct. 3--PTT Plc will maintain its investment budget of 99.7 billion baht over the next five years despite the intensifying worldwide economic slowdown. PTT was made a public company on Oct 1 with the Finance...

Online Shrimp Auctions Chalk Up 20 Million Baht in New Transactions.
October 3, 2001... Oct. 3--Since the recent launch of its online shrimp auctions, transactions worth 20 million baht have taken place between shrimp farmers, processors and brokers, according to FoodMarketExchange.com. Response had been favourable to the...

Thai Petrochemical Firm Fails to Meet Interest Payments.
October 3, 2001... Byline: Busrin Treerapongpichit Oct. 3--Thai Petrochemical Industry Plc said yesterday that it had failed to meet interest payments as required under its rehabilitation plan. Executives at Effective Planners, plan administrator for...

Bangkok Post Property Column.
October 3, 2001... Byline: Liakat Dhanji Oct. 3--I have been predicting privately for the last year that we live in dangerous times, and to survive and prosper we must be cautious and at the same time take extraordinary measures, whether to safeguard...

Thai Retail Giant's Membership Warehouse Makes Promising Start in China.
October 3, 2001... Byline: Somporn Thapanachai Oct. 3--The Charoen Pokphand Group has introduced its first membership warehouse store in China to give consumers a taste of modern trade ahead of the country's entry to the World Trade Organisation. The...

Thai Steel Industry Looks for Alternative Markets in Asia.
October 3, 2001... Byline: Busrin Treerapongpichit Oct. 3--Alternative markets in Asean, South Asia and China are being sought to help speed the rehabilitation of the local steel industry, according to the Iron and Steel Institute of Thailand. The...

House to Debate Telecom Bill in Thailand.
October 3, 2001... Oct. 3--The telecommunications services bill is expected to be debated extensively in the House of Representatives today amid intense lobbying by private telecommunications operators. The bill was earlier amended and passed by the Senate...

Thai Government to Propose Incentives to Boost Film Production.
October 3, 2001... Oct. 3--To promote tourism and attract foreign film makers, the Revenue Department will propose tax incentives for foreign film production in Thailand. As well, a deeper tax cut would also be given to local companies incurring expenses in...

Bangkok Post Gary Woollacott Column.
October 3, 2001... Byline: Gary Woollacott Oct. 3--How would you define the role of a headhunter? Ideally, it is to take the client's instructions and turn them into a series of interviews with superbly qualified and competent candidates, all of whom are...

Thai Official Says Team to Submit Baht-Defence Inquiry Findings this Month.
October 4, 2001... Oct. 4--The results of a civil liability inquiry into the central bank executives accused of failure to defend the baht in 1997 will have to be submitted to the Finance Ministry this month, according to Wisudhi Srisuphan, the...

Thai Bankers See Harm in Pegging Lending, Deposit Interest-Rate Spread.
October 4, 2001... Byline: Darana Chudasri Oct. 4--Local bankers say a clause inserted by senators in a draft financial institutions law fixing spreads between lending and deposit interest rates would hurt the economy overall. The new law is intended as...

Bangkok Post, Thailand, Business Briefs Column.
October 4, 2001... Oct. 4--TFB PLANS TO CLOSE 25 RURAL BRANCHES: Thai Farmers Bank will consolidate its branch network by relocating the services of 25 rural branches with low transactions to nearby branches, as well as opening outlets in department stores. ...

Thai Finance Company, Bank Subsidiary Link Up.
October 4, 2001... Byline: Darana Chudasri Oct. 4--JF Thanakom Securities and Bangkok Bank subsidiary Thaksin Finance yesterday announced a new joint venture to offer retail brokerage services and private fund management. Under the deal, Bualuang...

Thai Agency to Give 4.45 Billion Baht in Bonuses to Outstanding Civil Servants.
October 4, 2001... Oct. 4--The Comptroller-General's Department has set aside 4.45 billion baht this fiscal year for annual bonuses to civil servants who performed outstandingly the previous year, according to Wisudhi Srisuphan, the comptroller-general. ...

Bangkok Post, Thailand, Company Reports Column.
October 4, 2001... Oct. 4--ADVANCED INFO SERVICE said it had completed the legal process required for changing its par value to 1 bt from 10 bt. The change will take effect on Oct 8. -- ASIA CREDIT said that, following cancellation of 12,321 buy-back units...

Thai Dot-Com Jewellery Retailer to List on Singapore Stock Exchange.
October 4, 2001... Byline: Charoen Kittikanya Oct. 4--Bucking the current gloomy trend in the dot.com sector, the operator of Thaigem.com, one of the few successful e-commerce sites in Thailand, plans to list on the Stock Exchange of Singapore by the middle...

Thai Finance Company to Sell Exclusively Thai Fund Units Abroad.
October 4, 2001... Oct. 4--BoA Asset Management yesterday announced it will begin selling mutual fund units invested solely in Thai equities to foreign investors by the end of the year. The company, a wholly owned subsidiary of Bank of Asia ABN Amro, will...

Thai Bank Chief Says U.S. Fed's Interest-Rate Cut Will Help World Economy.
October 4, 2001... Oct. 4--The latest interest rate cut by the US Federal Reserve would help the global economy overall, said M.R. Pridiyathorn Devakula, governor of the Bank of Thailand. He said local regulators would continue to monitor global markets...

Bangkok Post John Polderman Column.
October 4, 2001... Byline: John Polderman Oct. 4--Nearly all non-Thai nationals not visiting Thailand as tourists have to deal with visas and work permits at some stage. If you are lucky enough to be employed by a large corporation or if your employer has...

Bangkok Post Nikhil B. Srinivasan Column.
October 4, 2001... Byline: Nikhil B. Srinivasan Oct. 4--The IMF came out on Monday and recommended that Thailand further reduce its interest rates to spur consumption and permit businesses to cut their interest costs. On reading such a comment, one can only...

Thai Television Company to Challenge Government Restrictions.
October 4, 2001... Oct. 4--World Thai Star TV Co says it will challenge a government decision prohibiting it from carrying commercials and broadcasting its programmes nationwide. An investigative committee had concluded that the company's concession to...

Thai Industry Official Says Unocal's Gas Price Cut Is Not Enough.
October 4, 2001... Byline: Yuthana Praiwan Oct. 4--Unocal Thailand yesterday agreed to reduce the price of natural gas supplied from its Unocal 1, 2 and 3 gas fields by 33 baht to 70 baht per one million BTU, costing the company at least 700 million baht....

Thai Carmakers Expect 5- to 20-Percent Drop in Exports.
October 4, 2001... Oct. 4--Carmakers are bracing for a fall of between 5 percent and 20 percent in vehicle exports from Thailand next year because of the weakening global economy and the impact of American action against terrorism. A senior executive of MMC...

Thai Agricultural-Commodity Trading Exchange on Track for April Launch.
October 5, 2001... Byline: Woranuj Maneerungsee Oct. 5--Draft regulations for Thailand's first agricultural commodity exchange are halfway to being completed. Chaipat Sahasakul, the first secretary-general of the Agricultural Futures Trading Commission,...

Bangkok Airways Pays for Extra Insurance Without Thai Government Help.
October 5, 2001... Byline: Boonsong Kositchotethana Oct. 5--Bangkok Airways, the country's largest privately owned airline, has decided to bear the additional cost of third-party war-risk insurance itself as its request for support from the Thai government...

Bangkok Post, Thailand, Insider Column.
October 5, 2001... Oct. 5--REMEMBER NOT TO FORGET: A brief news item caught our eye the other day, concerning the sudden revival of interest in the king of Afghanistan. Lobbying to raise exiled monarch's profile and secure his support has been stepped up in...

Thai Canneries Want Direct Sales to UN Relief Organisations.
October 5, 2001... Byline: Phusadee Arunmas Oct. 5--Producers of canned food want to sell their products directly to relief organisations under the United Nations and have asked the government to negotiate on their behalf. Permphan Neowakul, the...

Bangkok Port Seeks New Revenue Streams.
October 5, 2001... Byline: Srisamorn Phoosuphanusorn Oct. 5--After several years of no growth in traffic, Bangkok Port is considering switching its emphasis from the port business to integrated transport services to improve revenue. The port has suffered...

Cellular Phone Company Offers Free Phones to Civil Servants in Thailand.
October 5, 2001... Oct. 5--Cellular operator Advanced Info Service is to open a new front in the mobile telephone war with a new campaign aimed at giving free phones to civil servants and state enterprise employees nationwide. The promotion has raised hackles...

Five Thai Banks, State Agency Announces New Guarantee System.
October 5, 2001... Byline: Darana Chudasri Oct. 5--The Small Industry Credit Guarantee Corp has announced a new guarantee programme, together with five state banks, based on industrial sectors rather than individual companies. Chinsuk Viravan, SICGC...

Firm Hopes to List Development Unit on Thai Stock Exchange.
October 5, 2001... Byline: Krissana Parnsoonthorn Oct. 5--The Challenge Group led by Rasri Bualert hopes to list its property development unit on the Stock Exchange of Thailand by the end of next year. Financial adviser Arthur Anderson Consulting is due...

Thai Entertainment Unit Sells Ten Films to Singapore.
October 5, 2001... Oct. 5--The film subsidiary of RS Promotion 1992 Co, the country's second largest record company, has sealed a foreign distribution deal with the copyright sale of 10 Thai films to a Singaporean distributor. It was the first sale of RS...

Bangkok Post Arnat Leemakdej Column.
October 5, 2001... Byline: Arnat Leemakdej Oct. 5--The government's policy is to promote the hiring of local consultants for government jobs. The Fiscal Policy Office plays the leading role, with consultants registering at the Office to gain recognition when...

Bangkok Post Kriengsak Niratpattanasai Column.
October 5, 2001... Byline: Kriengsak Niratpattanasai Oct. 5--Recently, I was invited to give a speech on the topic of "Enhancing working relationships with foreigners". The audience was to consist of Thais who currently worked with foreigners or would be...

Thai Steel Company Chief Rejects Demand for Debt-Restructuring Guarantee.
October 5, 2001... Byline: Busrin Treerapongpichit Oct. 5--The debt restructuring of the NTS Steel Group is stuck at the final stage, with founder Sawasdi Horrungruang rejecting the creditors' proposal that he post a personal guarantee for the remaining debt...

Swissair Limps Back into Skies after Receiving Short-Term Bailout.
October 5, 2001... Oct. 5--Swissair, humiliated by the grounding of its aircraft and stranding of passengers, lurched into the skies again yesterday with a short-term state lifeline of 300 million euros. The first plane took off from Zurich at 10:10 am local...

U.S. Chamber Bullish on Thai Opportunities Despite Economy.
October 5, 2001... Byline: Natalie Suwanprakorn Oct. 5--Thailand must not view the American economic downturn as a sign of bad times for Thai exports since there are still plenty of opportunities available, said a senior official of a US trade group. ...

Thai Officials Deny Undue Influence in Awarding TV Contracts.
October 5, 2001... Oct. 5--Some major state enterprises have pooled funds to sponsor two news-talk programmes, run by companies related to the Manager Group, on TV Channel 9. However, Manager Group chairman Sondhi Limthongkul denied involvement in the two...