Bangkok Post (Bangkok, Thailand) articles from October 2007

Bangkok Post (Bangkok, Thailand) archives from October 2007

Asia to boom despite sub-prime woes: Asian currencies to strengthen further.
October 1, 2007... Byline: Krissana Parnsoonthorn Oct. 1--While the world is now facing liquidity problems triggered by the US sub-prime crisis, Asia will continue to boom and attract foreign inflows over the next two years, said Sam Liddle, director of fund...

Supalai launches budget condo in Kaset-Nawamin.
October 1, 2007... Byline: Kanana Katharangsiporn Oct. 1--The listed developer Supalai Plc has launched a budget condominium worth 2.9 billion baht in the Kaset-Nawamin area. President Prateep Tangmatitham said the project offered buyers relatively low...

TCEB to play host to major Mice events.
October 1, 2007... Byline: Chatrudee Theparat Oct. 1--The Thailand Convention and Exhibition Bureau (TCEB) has won a bid to organise two major events for professionals in the meeting industry in October. According to Kwanchai Modpradit, the TCEB's acting...

Losses from fraud on the rise in Thailand.
October 1, 2007... Byline: Chiratas Nivatpumin Oct. 1--Corporate fraud in Thailand was expected to increase in the future, both in terms of cases and estimated financial losses, according to a new survey by professional services company KPMG. Seventy-one...

Jasmine developer eyes resort.
October 1, 2007... Oct. 1--Following up on the success of its Jasmine City on Sukhumvit 23, the project's owner plans to invest another 1.2 billion baht to develop the Jasmine Resort and Park Hotel on Sukhumvit 69, to open in 2010. The 30-storey building, to...

Digital media set to outperform traditional.
October 1, 2007... Byline: Woranuj Maneerungsee Oct. 1--After years of pundits saying the digital entertainment and media (E&M) platform would overtake traditional media forms one day, research from PricewaterhouseCoopers predicts that 2008 is finally the...

Demand shows signs on life, but investment remains down.
October 1, 2007... Byline: Parista Yuthamanop Oct. 1--Economic indicators in August showed that domestic demand has begun to recover, albeit tenuously. The Bank of Thailand attributed the improving economic trends to a more stable political climate,...

Ministry to turn garbage into gas.
October 1, 2007... Byline: Yuthana Praiwan Oct. 1--Energy policymakers hope to turn garbage into gas under an ambitious programme aimed at developing over 10,000 small-scale biogas programmes nationwide over the next five years. The programme, run by the...

Ministry wants ruling on Hutch.
October 1, 2007... Byline: Komsan Tortermvasana Oct. 1--The Finance Ministry will ask the Council of State this week to determine whether its plan for a joint venture with Hutchison of Hong Kong to provide nationwide CDMA mobile phone service should go...

Isuzu says it will avoid price war to protect brand.
October 1, 2007... Byline: Santan Santivimolnat Oct. 1--Isuzu, Thailand's perennial leader in the one-ton pickup truck market, has reaffirmed its policy not to resort to a price war in the highly competitive business. The Japanese manufacturer said a...

CRT maker closes due to flat-panel TVs.
October 1, 2007... Oct. 1--MT Picture Display (Thailand), a unit of Japanese giant Matsushita Electric Industrial, will close its operations in Thailand. Around 2,400 employees, including 700 contract workers, will be dismissed by the company. MT Picture...

TOT battling for access charges.
October 1, 2007... Byline: Srisamorn Phoosuphanusorn Oct. 1--TOT Plc says it is prepared to accept all decisions by the courts over the access-charge dispute with the two private mobile operators DTAC and True Move, even though it would lose access charge...

Purple Line land values to rise.
October 1, 2007... Byline: Wichit Chantanusornsiri Oct. 1--Official valuation prices along the new Purple Line from Bang Yai to Bang Sue are expected to rise due to higher commercial and residential demand once the new mass transit line is completed,...

Indian firm's Thai plant will tap Afta benefits.
October 2, 2007... Byline: Santan Santivimolnat Oct. 2--The Indian auto parts maker Endurance Far East Ltd has entered Thailand in order to cash in on the country's burgeoning auto parts industry and the Asean Free Trade Area (Afta) pact. The company's...

New law to better protect guarantors.
October 2, 2007... Byline: Parista Yuthamanop Oct. 2--The new Financial Institutions Act enhances consumer rights protection by stipulating that loan contracts spell out the total obligation to be borne by a guarantor, according to the Bank of Thailand. ...

Bangkok Post, Thailand, business briefs column.(Column)
October 2, 2007... Oct. 2--SET FINES TRINITY: The Stock Exchange of Thailand has fined Trinity Securities 230,000 baht for violating rules on compensation for marketing officers. Trinity was found to have paid three marketing officers credit for customers...

Brokers cool toward overseas expansion idea.
October 2, 2007... Byline: Nuntawun Polkuamdee Oct. 2--Local brokers have little interest in expanding overseas, given heavy start-up costs and a lack of experience and clients. The Securities and Exchange Commission recently announced that it would...

Bangkok Post, Thailand, company reports column.(Column)
October 2, 2007... Oct. 2--COMPANY REPORTS: CS LoxInfo said it repurchased 213,800 shares at 4.30-4.32 bt each, totalling 921,604 bt, on Sept 28. Shares repurchased to date total 4.63m shares or 0.74 percent of paid-up capital. -- Quality Houses said QH-W4...

More disclosure, less cronyism expected of listed companies.
October 2, 2007... Byline: Nuntawun Polkuamdee Oct. 2--Local fund managers complain that listed companies fail to disclose sufficient information ahead of annual shareholder meetings. According to the Association of Investment Management Companies, fund...

BoI approves Honda plan.
October 2, 2007... Oct. 2--The Board of Investment yesterday approved a 6.7-billion-baht investment proposal by Honda Automobile (Thailand). The Japanese automaker plans to spend 3.8 billion baht to expand existing facilities, as well as 2.9 billion for a new...

IEAT enlists private sector to expand sites.
October 2, 2007... Oct. 2--The Industrial Estate Authority of Thailand (IEAT) plans to join with the private sector in developing new industrial estate projects in an effort to earn more than one billion baht in revenue this year, says IEAT governor Uthai...

Inflation up 2.1% in September on oil prices.
October 2, 2007... Byline: Phusadee Arunmas Oct. 2--Inflation rose 2.1 percent year-on-year in September thanks to higher food and fuel prices. The consumer price index (CPI) was up sharply from 1.1 percent in August, which was near a five-year low. ...

BAC hopes to gain Halal edge in the sky.
October 2, 2007... Byline: Boonsong Kositchotethana Oct. 2--Bangkok Air Catering Co (BAC), one of three inflight caterers at Suvarnabhumi Airport, has embraced Halal food in a big way to appeal to carriers from the Muslim world. Run by a Swiss manager...

MSIG building brand to lift profile and sales.
October 2, 2007... Byline: Charoen Kittikanya Oct. 2--HUAI HANG, Uthai Thani -- The Japanese insurance firm Mitsui Sumitomo Insurance (MSI) has embarked on a three-year brand-building programme that it hopes will move it into the top three among general...

New AIA policy linked to global stock indices.
October 2, 2007... Oct. 2--American International Assurance (AIA), the country's largest life insurer, yesterday introduced Secure Global Giants, a five-year endowment policy with a single premium payment and returns linked to the S&P 500, Dow Jones EURO Stoxx...

Hajj loan service expanded.
October 2, 2007... Byline: Wichit Chantanusornsiri Oct. 2--The Islamic Bank of Thailand plans to sharply expand its credit services for local Muslims undertaking the Hajj, according to acting president Dheerasak Suwannayos. Saudi Arabia has approved a...

KBank unveils new '360-degree' strategy.
October 2, 2007... Byline: Darana Chudasri Oct. 2--Kasikornbank yesterday introduced a new strategic vision aimed at expanding the bank's offerings beyond financial services. The "K NOW" concept aims to offer "360-degree" services for customers in all...

Tesco goes green with new branch, truck fleet.
October 2, 2007... Byline: Aranee Jaiimsin Oct. 2--AYUTTHAYA -- Tesco Lotus has switched its entire truck fleet to using B5 biodiesel, aiming at cutting its fuel costs by 5 percent and reducing carbon-dioxide emissions by three tonnes a year."From Oct 1, we...

UV lifts stake in Grand Unity.
October 2, 2007... Oct. 2--Univentures Plc (UV) has increased its stake in Grand Unity Development Co to become the majority shareholder and plans to invest in improving distressed assets to sell them, according to managing director Thanapol Sirithanachai. ...

S&P expands catering service.
October 2, 2007... Byline: Pitsinee Jitpleecheep Oct. 2--S&P Syndicate Plc plans to offer catering service for all of its restaurant brands to offset declining dining-in sales at its flagship S&P chain stemming from a shift to home dining among consumers....

ICC to launch bags that meet environmental standards.
October 2, 2007... Byline: Pitsinee Jitpleecheep Oct. 2--The Saha Group's marketing arm, ICC International Plc, is set to develop more new environmentally friendly products after it introduces its innovative nano-bags at Inno Mart 2007 this coming weekend at...

Saprang wants soldier for TOT.
October 2, 2007... Byline: Komsan Tortermvasana Oct. 2--The TOT board of directors has put off a public search for a new president while Gen Saprang Kalayanamitr, the board chairman, attempts to manoeuvre an army colonel into the top job at the state telecom...

AFET future uncertain as state support wanes.
October 25, 2007... Byline: Nuntawun Polkuamdee Oct. 25--The Agricultural Futures Exchange of Thailand faces an uncertain future due to weak government support and state intervention in commodities prices. Seven out of 16 brokers have resigned from the...

Siam Park owner not deterred by accidents.
October 25, 2007... Byline: Pitsinee Jitpleecheep Oct. 25--The operator of Siam Park remains committed to continuing with its one-billion baht investment plan next year despite an accident that killed one person and injured five on one of its rides on Tuesday....

TAPB aims to double beer sales.(Company overview)
October 25, 2007... Oct. 25--Thai Asia Pacific Brewery Co Ltd (TAPB), the brewer of Heineken, Tiger and Cheers beers, has announced a five-year goal to double annual sales to 15 billion baht by 2012. Panya Pongtanya, general manager of TAPB, said the brewer...

New centre to promote links with Kunming.
October 25, 2007... Byline: Kanana Katharangsiporn Oct. 25--Trade between Thailand and China is expected to take on a new dimension after the Kunming-Thai Culture & Trade Centre and the Sunday Mall start operating next year in the Chatuchak area, said Phusit...

Pressure back on central bank.
October 25, 2007... Byline: Darana Chudasri Oct. 25--The Bank of Thailand is likely to face more economic pressure due to the baht's appreciation. The baht is expected to impact the trade and service surplus and foreign investment inflows, say local currency...

Baht likely to get even stronger Exporters should eliminate risk.
October 25, 2007... Byline: Wichit Chantanusornsiri Oct. 25--Exporters should lock currency exposure in place as the baht is likely to appreciate further, according to Apichai Boontherawara, president of the Export-Import Bank of Thailand. "Exporters...

CPF expands frozen food line.
October 25, 2007... Byline: Pitsinee Jitpleecheep Oct. 25--CPF Food Products Co, the distributor of CP frozen food, has extended its frozen food line in an effort to appeal to health-conscious consumers and people suffering from illnesses and requiring...

Logistics IT specialist Simat ready for MAI.
October 25, 2007... Byline: Nuntawun Polkuamdee Oct. 25--The IT provider Simat Technology plans to list on the Market for Alternative Investment in December. The company hopes to raise 70 million baht in capital by floating 18.75 million new shares at a...

PTT offered incentives to promote NGV.
October 25, 2007... Byline: Yuthana Praiwan Oct. 25--To promote the usage of natural gas for vehicles (NGV) in taxis, the Energy Ministry has offered PTT Plc a cooking gas export quota to help compensate it for some of the two billion baht in costs for the...

Reductions in online trading fees delayed.
October 25, 2007... Byline: Nuntawun Polkuamdee Oct. 25--Internet trading fees will be maintained at 0.2 percent of transaction values until the end of 2009, the Stock Exchange of Thailand board announced yesterday. Fees for online trades for cash balance...

Operating profit of SCG plunges.
October 25, 2007... Byline: Aranee Jaiimsin Oct. 25--Siam Cement Plc (SCG) has revised down its 2007 sales growth projection to 5 percent from 10 percent previously as its operating profit plunged 20 percent in the first nine months of the year, president Kan...

Steel quota approved for Thailand-Japan FTA.
October 25, 2007... Byline: Phusadee Arunmas Oct. 25--The Foreign Trade Department has set a quota of 950,000 tonnes of hot-rolled steel to be imported from Japan in the first year of the Japan-Thailand free trade agreement starting on Nov 1. Imports...

KTBS hopes for 20 new MAI listings.
October 25, 2007... Byline: Nuntawun Polkuamdee Oct. 25--KTB Securities hopes to bring at least 20 companies to list on the Market for Alternative Investment (MAI) in 2008 in a bid to leverage the huge customer base of parent Krung Thai Bank to boost its...

DTAC launches new look but predicts a longer wait for 3G.
October 25, 2007... Byline: Srisamorn Phoosuphanusorn Oct. 25--Second-ranked mobile operator DTAC is initiating an emotion-based marketing campaign to stress its existing values, based on the assumption that third-generation (3G) mobile service will fail to...

Tsingtao prepares to build Thai plant.
October 25, 2007... Oct. 25--China's leading beer company, Tsingtao Brewery Co, is set to establish its first overseas plant in Thailand to increase sales and avoid beer import duties. The company would invest an initial 40 million yuan (170 million baht) for...

Vietnam property booming.
October 25, 2007... Byline: Kanana Katharangsiporn Oct. 25--Vietnam's property market will become the region's rising star due to stable politics, attractive resources, lower wages and increasing property demand, says Sopon Pornchokchai, the president of the...

Honda opens new after-sales parts plant.
October 26, 2007... Oct. 26--Honda has started producing automobile body spare parts for the after-sales market at a new plant located in the Rojana Industrial Park in Ayutthaya. With a daily capacity of 2,100 units to meet domestic and export market demand,...

PCS and S&P form catering joint venture.
October 26, 2007... Byline: Chadamas Chinmaneevong Oct. 26--Property Care Services (Thailand) Co and S&P Syndicate Plc yesterday launched a new joint venture called Foodhouse Catering Service Co to operate a canteen and catering business nationwide by the end...

Credit-bureau role debated.
October 26, 2007... Byline: Parista Yuthamanop Oct. 26--The Bank of Thailand plans to forward a draft amendment of the Credit Information Protection Act to the National Legislative Assembly for approval, according to Sorasit Soontornkes, a senior director....

State agencies urged to save more energy.
October 26, 2007... Byline: Yuthana Praiwan Oct. 26--The government should try harder to encourage its own agencies to recognise the importance of efficient energy-saving equipment or the state energy conservation programme will not succeed, says Arthit...

Tighter FBA rules again on the agenda.
October 26, 2007... Oct. 26--A clearer definition of the term "controlling power" in the amended Foreign Business Act (FBA) will be considered next week by a committee reviewing the investment law. The new definition of "foreign" would cover the controlling...

Expo features eco-SUV.
October 26, 2007... Oct. 26--A commercial vehicle exhibition, which features a sport-utility vehicle modified to use natural gas for vehicles (NGV), is expected to attract more than 100 exhibitors next month. Organisers expect Bus & Truck '07 would draw more...

JD Pools targets 20% growth.
October 26, 2007... Oct. 26--The local swimming-pool manufacturer J.D. Pools Co targets 20 percent growth next year through the expansion of franchisees and higher exports of products to regional markets, according to managing director Thanusak Puengdetch. ...

Bangkok Post, Thailand, business briefs column.(Column)
October 26, 2007... Oct. 26--NEW SANSIRI CONDO: Sansiri Plc has launched the 1.6-billion-baht 39 by Sansiri condominium in Sukhumvit Soi 39 to attract buyers seeking inner-city units. Situated 120 metres from the Phrom Phong BTS station, 39 by Sansiri will...

High SET trade to lift Kim Eng.
October 26, 2007... Oct. 26--Kim Eng Securities, the country's largest brokerage, said yesterday that its 2007 revenues would top last year's 1.97 billion baht after an increase of daily trade on the Stock Exchange of Thailand. The brokerage also expected...

Deposit law heading to NLA.
October 26, 2007... Byline: Wichit Chantanusornsiri Oct. 26--The Finance Ministry will submit the new deposit insurance law to the National Legislative Assembly on Wednesday, according to Deputy Finance Minister Sommai Phasee. The new law, one of eight...

Siam Tinplate lifts capacity.
October 26, 2007... Oct. 26--Siam Tinplate Co (STP) plans to invest 1.4 billion baht to increase capacity to serve high growth in the food can industry, according to managing director Hiroyuki Umeoka. The new investment would double the company's combined...

Egat ready to sign purchase deals for four projects in Laos.
October 26, 2007... Byline: Yuthana Praiwan Oct. 26--The Electricity Generating Authority of Thailand (Egat) expects to sign power purchasing agreements (PPA) with hydroelectric plant operators in Laos by the end of the year, says governor Kraisi Karnasuta....

SET50 options to catch on in a year.
October 26, 2007... Byline: Krissana Parnsoonthorn Oct. 26--SET50 Index Options, the Thailand Futures Exchange's second product, are expected to take about one year to become popular among investors and produce large trading volumes, according to Tisco...

Government Pension Fund eyes 10% return.
October 26, 2007... Byline: Nuntawun Polkuamdee Oct. 26--The Government Pension Fund, the country's largest institutional investor, expects to post returns on investment of 9 percent to 10 percent this year, or nearly double its initial target of 5 percent to...

Kerry Siam ready to open seaport.
October 26, 2007... Oct. 26--Kerry Siam Seaport is preparing to open Thailand's largest privately run deep-seaport, with integrated logistics services in Laem Chabang by January, to serve huge shipping demand to China. Located on 250 rai and developed at a...

Energy sets off surprise rally.
October 26, 2007... Byline: Krissana Parnsoonthorn Oct. 26--Thai stocks jumped 3.17 percent yesterday as most regional markets closed higher on investor hopes of an interest rate cut by the US Federal Reserve next week. A US rate cut would help spur...

Wheat prices pressuring Dunkin.
October 26, 2007... Byline: Woranuj Maneerungsee Oct. 26--World wheat prices that are expected to continue rising into next year are having an impact on the strategies and costs of food makers, says Anthony Pavese, the vice-president of Dunkin Brands for the...

Thai AirAsia focusing on trunk routes and cutting money losers.
October 27, 2007... Byline: Boonsong Kositchotethana Oct. 27--The no-frills carrier Thai AirAsia (TAA) this week started to rationalise its network by dropping loss-ridden routes, increasing frequency on trunk routes and betting on new destinations. This...

Where to put that money: Asia remains the best place to set up shop.
October 27, 2007... Byline: Umesh Pandey Oct. 27--Asia, increasingly the centre of gravity for the world's investors, continues to fare well as a region for doing business, despite policy volatility in some markets. In the recent Doing Business in 2008...

PTT chief sees $100 oil next year.
October 27, 2007... Byline: Yuthana Praiwan Oct. 27--Average prices for crude oil next year may briefly pass $100 a barrel on supply concerns and global political tensions, according to PTT Plc president Prasert Bunsumpun. Crude oil prices in Dubai, the...

Strong currencies pose growing risk to developing economies.
October 27, 2007... Byline: Parista Yuthamanop Oct. 27--Developing countries should prevent their currencies from appreciating too much in order to avoid future economic crises, according to economists at the United Nations Conference on Trade and Development...

Broadcasters optimistic, despite restrictions.
October 27, 2007... Byline: Woranuj Maneerungsee Oct. 27--Although the Election Commission's (EC) poll restrictions have dampened broadcasters' hopes for windfall ad revenues, MCOT Plc expects its special election programmes in the next six weeks will attract...

Minister says Democrats are off-base on reserve rule proposal.
October 27, 2007... Byline: Wichit Chantanusornsiri Oct. 27--A Democrat Party proposal to eliminate the 30 percent reserve rule on foreign inflows could add pressure on the baht, warns Finance Minister Chalongphob Sussangkarn. Democrat leader Abhisit...

Singaporeans tap India.
October 27, 2007... Byline: Chuang Peck Ming Oct. 27--Singapore's gold standard of health-care has drawn patients not only from the rest of Asia but as far afield as Russia, making the island a regional health-care hub. But even for a market where most...

Holiday Inn Express prepares for first Bangkok site.
October 27, 2007... Byline: Chadamas Chinmaneevong Oct. 27--The InterContinental Hotels Group (IHG) is preparing to introduce its Holiday Inn Express brand in Bangkok next year. The mid-market hotel will be located in central Bangkok with more than 200...

Thailand joins regional group.
October 27, 2007... Byline: Achara Ashayagachat Oct. 27--Thailand agreed to join a US-initiated regional network to combat intellectual property crimes at the end of a four-day meeting in Bangkok this week. The US Department of Justice and the US Patent...

Apco invites global investors to Asia.
October 27, 2007... Byline: Umesh Pandey Oct. 27--As global business attention continues to focus on Asia, companies eager to tap the market are scrambling for a foothold in the region. "The volume of business in Asia and Thailand is huge and over the...

Cooking oil prices may rise.
October 27, 2007... Byline: Phusadee Arunmas Oct. 27--The Commerce Ministry is considering approving higher retail prices for cooking palm oil, acknowledging the impact of soaring demand for biofuels on raw material prices.Palm nut prices currently exceed...

Average salary hike put at 6.3%.
October 27, 2007... Byline: Somporn Thapanachai Oct. 27--Thai employees are likely to see an average salary increase of 6.3 percent at the end of this year. Salary increases are expected to range from 6.2 percent to 6.7 percent, while the average fixed...

New Mice markets seen: Singapore, China and India in focus.
October 27, 2007... Byline: Chatrudee Theparat Oct. 27--China, India and Singapore offer the greatest growth potential for Thai tourist operators and the local Mice (meetings, incentives, conventions and exhibitions) market, say experts. Local firms...

TAT wins award.
October 27, 2007... Oct. 27--The Tourism Authority of Thailand has been named Best National Tourism Organisation at the TTG Travel Awards. TAT governor Phornsiri Manoharn said the award, based on a reader survey by the regional travel magazine group, was a...

Touchwood to open agarwood oil refinery.
October 29, 2007... Byline: Charoen Kittikanya Oct. 29--Touchwood Forestry Co, which operates about 2,000 rai of managed agarwood forest in Prachin Buri, plans to open an agarwood oil refinery in Kabin Buri industrial estate, expand its business and introduce...

Farmers learn to cope with higher costs.
October 29, 2007... Byline: Wichit Chantanusornsiri Oct. 29--Thailand's agricultural sector needs to "shape up" quickly to cope with the rapid increase in global energy prices, according to Teerapong Tungteerasunun, the president of the Bank of Agricultural...

First alternative-fuel park to be established.
October 29, 2007... Byline: Yuthana Praiwan Oct. 29--VRM Group, a property developer, is preparing to establish Thailand's first industrial estate for alternative fuels in Ratchaburi province, according to Uthai Junthima, the governor of the Industrial Estate...

Bangkok Post, Thailand, business briefs column.(Column)
October 29, 2007... Oct. 29--MORE NORTHERN FLIGHTS: Chiang Mai-based SGA Airlines, the country's first commuter carrier, will offer daily flights between Chiang Mai and Mae Hong Son from Nov 1-30, using a 12-passenger Cessna Grand Caravan propeller plane. The...

Depleted fish stocks challenge future of Asia seafood industry.
October 29, 2007... Byline: Darana Chudasri Oct. 29--Food safety and the depletion of fish stocks will remain key challenges for Asian seafood producers, according to Rabobank International. Patric Vizzone, regional head for Asia food and agribusiness at...