Bangkok Post (Bangkok, Thailand) articles from September 2007

Bangkok Post (Bangkok, Thailand) archives from September 2007

One-Two-Go shifts flights to Suvarnabhumi.
September 1, 2007... Byline: Boonsong Kositchotethana Sep. 1--The budget carrier One-Two-Go Airlines is shifting some of its operations back to Suvarnabhumi Airport from the old Don Muang airport where it had concentrated its flights since last September. ...

Samui opens airport to international flights.
September 1, 2007... Byline: Boonsong Kositchotethana Sep. 1--Samui Airport's new 500-million-baht passenger terminal was opened for international flights yesterday after starting domestic air services on May 27. Yesterday's opening means the airport is...

Bafs revises up revenue forecast on higher Suvarnabhumi demand.
September 1, 2007... Byline: Aranee Jaiimsin Sep. 1--Bangkok Aviation Fuel Services Plc (Bafs) has revised up its 2007 revenue projection by more than 15 percent following higher-than-expected service volume at Suvarnabhumi Airport. The company now expects...

Bangkok Post, Thailand, business briefs column.(Column)
September 1, 2007... Sep. 1--HEALTHY SALES FOR AXA: AXA Thailand reported strong growth in the first seven months of 2007 with gross written premiums worth 959.9 million baht, an increase of 28.6 percent, due to expanded distribution channels covering motor...

BEC opposes revenue sharing in law.
September 1, 2007... Byline: Woranuj Maneerungsee Sep. 1--BEC World Plc, operator of Channel 3, has urged future broadcasting regulators to turn down the idea of sharing 5 percent of ad revenues to a pooled fund, saying it would only penalise successful...

Contest encourages developers to get greener.
September 1, 2007... Byline: Kanana Katharangsiporn Sep. 1--Housing developers and builders are being encouraged to show off their advances in energy saving in a contest that is expected to draw at least 100 designs by the deadline of Oct 5. Energy...

Information service centre aids investors.
September 1, 2007... Sep. 1--As the hype of investing in China among Thai entrepreneurs continues to grow, the biggest drawback is the availability of information that can be used as a tool to make the decision to enter or stay home. The problem of lack of...

Patkol looks abroad to offset sluggish sales.
September 1, 2007... Sep. 1--Patkol Plc, a machinery and systems engineering firm, is speeding up its export market in South Asia and Southeast Asia to offset declining domestic sales. The company recently cut its sales target this year by one billion baht to...

Shin Satellite denies Lao contract breach.
September 1, 2007... Byline: Komsan Tortermvasana Sep. 1--Shin Satellite yesterday denied the Laotian government's charge that it had breached its joint-venture contract with Lao Telecom by selling its investment in Shenington Investment to the Temasek Group....

MPI rose in July but concerns linger over sub-prime fallout.
September 1, 2007... Byline: Yuthana Praiwan Sep. 1--Authorities are closely monitoring the manufacturing production index (MPI) and Thai shipments to the United States in the wake of the sub-prime crisis. Atchaka Brimble, director-general of the Office of...

KTBS adds cyberbranches to increase share.
September 3, 2007... Byline: Nuntawun Polkuamdee Sep. 3--Krung Thai Securities (KTBS) plans to open 10 new cyberbranches over the next several months as part of a bid to boost market share to at least 1 percent from 0.8 percent by the end of the year. ...

Land costs will drive Phuket condo trend.
September 3, 2007... Byline: Somporn Thapanachai Sep. 3--More condominium developments are likely to emerge in Phuket due to the scarcity and high price of land, says Larry Cunningham, the CEO of Phuket Buri Co, which is developing a luxury condo on the resort...

German lamp maker targets high-end market.
September 3, 2007... Byline: Aranee Jaiimsin Sep. 3--Germany-based Megaman Lamps, one of the world's top three energy-saving lamp producers, has shifted its focus to the premium from the lower-end market after failing to secure a strong foothold in Thailand...

Chiang Mai event promotes Mice market.(Conference news)
September 3, 2007... Sep. 3--A business conference will be staged in Chiang Mai to showcase the offerings of 80 northern hotel and travel businesses to 100 corporate buyers from Sept 7-9. The event is part of the "Mice in Green: the North" programme, intended...

Insurers questioned some rules.
September 3, 2007... Byline: Charoen Kittikanya Sep. 3--Insurers have hailed the draft amendments to the two insurance acts that recently received cabinet approval. But some executives have singled out a requirement that all insurers become public companies as...

Sadao emerging as safe and prosperous haven.
September 3, 2007... Byline: Phusadee Arunmas Sep. 3--Sadao district, a small town in Songkhla province on the Thailand-Malaysia border, has emerged as a bustling business centre, as unabated bombings in the three restive southernmost provinces and security...

Asean aims to attract more Mideast funds.
September 3, 2007... Byline: Nuntawun Polkuamdee Sep. 3--Asean stock markets are preparing to introduce a new Islamic index to help attract capital flows from Middle Eastern countries. Patareeya Benjapolchai, the president of the Stock Exchange of...

Parent bank counting on greater support from KTAM subsidiary.
September 3, 2007... Byline: Darana Chudasri Sep. 3--Krung Thai Bank wants to overhaul the board of subsidiary Krungthai Asset Management to have the fund manager better support the bank's retail banking initiatives. KTB president Apisak Tantivorawong said...

Customs Department set to upgrade logistics infrastructure.
September 3, 2007... Byline: Wichit Chantanusornsiri Sep. 3--The Customs Department plans to accelerate programmes to upgrade the country's logistics infrastructure to help reduce operating costs and assist the export sector. Department officials met...

Oil refiners agree to phase out LPG exports.
September 3, 2007... Sep. 3--Oil refiners say they will co-operate with the Energy Ministry to stop exporting liquefied petroleum gas (LPG) or cooking gas and begin meeting rising local demand instead. Each refiner has been gradually reducing LPG exports to...

BAAC to help farmers with mortgages.
September 3, 2007... Byline: Wichit Chantanusornsiri Sep. 3--The Bank for Agriculture and Agricultural Co-operatives wants the government to repay outstanding debt of 50 to 60 billion baht to cover expenses for the annual rice mortgage programme. BAAC...

PWO calls for end to rice price subsidies.
September 3, 2007... Byline: Phusadee Arunmas Sep. 3--The government should temporarily halt its rice intervention programme for four months to allow officials to manage rice in stockpiles more effectively, says the head of the state-run Public Warehouse...

Building a better bourse.
September 3, 2007... Byline: Chiratas Nivatpumin Sep. 3--The 13th chairman of the Stock Exchange of Thailand offers a grin as he settles back in his chair. "It's been a busy week, no doubt. There's been a lot to do," says Pakorn Malakul Na Ayudhya, his...

Mobile phone competition cutting prices.
September 3, 2007... Byline: Srisamorn Phoosuphanusorn Sep. 3--Thailand's economic slowdown and large stocks of mobile phones have caused local handset prices to drop to record lows this year. The local handset market in the third quarter is also expected...

BRT to give Rama III area big boost.
September 3, 2007... Byline: Kanana Katharangsiporn Sep. 3--The Bus Rapid Transit (BRT), scheduled to start running early next year, will stimulate the property market in the Rama III area but not to the same extent as the Skytrain and subway have in the areas...

Cabinet must approve rail link payments.
September 3, 2007... Byline: Wichit Chantanusornsiri Sep. 3--Payments for the 30-billion-baht Airport Rail Link project will only be made by the Finance Ministry under a cabinet order, according to ministry officials. The Airport Rail Link, running from...

ETF subjected to 30% rules.
September 4, 2007... Byline: Nuntawun Polkuamdee Sep. 4--The Bank of Thailand has rejected a request from the stock market to waive the 30 percent reserve rule on foreign investors for the new ThaiDEX SET50 exchange-traded fund. Thirachai...

SCB likely to miss lending target.
September 4, 2007... Byline: Parista Yuthamanop Sep. 4--Siam Commercial Bank executives warned yesterday that the bank could miss its lending target for the year due to the economic slowdown. SCB senior executive vice-president Yokporn Tantisawetrat said...

Bangkok Post, Thailand, business briefs column.(Column)
September 4, 2007... Sep. 4--PROGRESS ON PHUKET SITE: The site for the Phuket International Convention and Exhibition Centre will be chosen by Sept 19, according to the project's investor, ING Funds (Thailand).Two high-potential plots are a 130-rai site owned by...

Officials encourage Thai businesses to take advantage of China's efforts.
September 4, 2007... Byline: Umesh Pandey Sep. 4--Thai investors who missed jumping on the China Express bandwagon still have an opportunity to participate in the country's humming economic growth as China continues to promote investments and offer incentives...

Business leaders call for collateral reforms.
September 4, 2007... Byline: Darana Chudasri Sep. 4--Local business leaders have urged legal reforms to expand the use of collateral in the financial markets. Members of the Joint Standing Committee of Commerce, Industry and Banking agreed that approving a...

True Move enlists popular comedian in new campaign.
September 4, 2007... Byline: Srisamorn Phoosuphanusorn Sep. 4--True Move, the country's third largest mobile operator, is expanding its wireless convergence services into untapped provincial mass market by using the comedy superstar Mum Jokmok to promote its...

Exports help lift Q2 growth to 4.4%.
September 4, 2007... Byline: Chatrudee Theparat Sep. 4--Economic growth was a surprisingly strong 4.4 percent in the second quarter, thanks to high exports and government spending, according to the National Economic and Social Development Board. Growth...

SEC warns of additional sub-prime fallout.
September 4, 2007... Byline: Nuntawun Polkuamdee Sep. 4--Fund managers should increase their awareness of portfolio risk, considering the turmoil in the worldwide markets due to the collapse of the US sub-prime mortgage market, the Securities and Exchange...

40,000 suspected of breaches.
September 4, 2007... Sep. 4--The Business Development Department is in the process of inspecting as many as 40,000 companies to see if they have used nominee structures to hold shares for foreign investors -- a practice prohibited by the Foreign Business Act. ...

August inflation just 1.1%.
September 4, 2007... Byline: Phusadee Arunmas Sep. 4--Declining vegetable and fruit prices caused August inflation to grow by only 1.1 percent year-on-year, the lowest level in the past five years, the Commerce Ministry said yesterday. The consumer price...

TOT pushes ahead with 3G plan.
September 4, 2007... Byline: Komsan Tortermvasana Sep. 4--The third generation (3G) mobile-phone project of Thai Mobile under a government-to-government model inched a step closer after TOT Plc said it would submit a draft plan and feasibility study to its...

Central to revamp Silom site.
September 4, 2007... Byline: Pitsinee Jitpleecheep Sep. 4--Central Retail Corporation, the country's leading retail chain, plans to close its legendary department store on Silom Road for a complete overhaul by the middle of this month. An executive at...

Huawei still seeks compromise on fine.
September 4, 2007... Byline: Srisamorn Phoosuphanusorn Sep. 4--Huawei Technologies Co is calling on CAT Telecom to strike a compromise over the late delivery of the 7.1-billion-baht Code Division Multiple Access (CDMA) mobile network, saying it cannot accept...

Bangkok Post, Thailand, business briefs column.(Column)
September 4, 2007... Sep. 4--BCP AFFIRMED AT AA: Tris Rating has affirmed the rating for Bangchak Petroleum's four billion depository receipts at AA with a stable outlook. The rating reflects the principal protection provided by the Finance Ministry to buy...

Bangkok Post, Thailand, business briefs column.(Column)
September 4, 2007... Sep. 4--PROGRESS ON PHUKET SITE: The site for the Phuket International Convention and Exhibition Centre will be chosen by Sept 19, according to the project's investor, ING Funds (Thailand).Two high-potential plots are a 130-rai site owned by...

'The right to live on our own terms'.
September 4, 2007... Byline: Arusa Pisuthipan Sep. 4--It seems that in Teerawat Sripathomsawad's dictionary the word "despair" does not exist. Once a healthy young man full of determination and dreams, today his heart is strong and he has overcome his...

Election not seen as cure-all for investor confidence.
September 4, 2007... Byline: Wichit Chantanusornsiri Sep. 4--Business leaders expressed doubts that the next government will be able to revive investor and consumer confidence to help jump-start economic growth. The next government was almost certain to be...

ETF subjected.
September 4, 2007... Byline: Nuntawun Polkuamdee Sep. 4--The Bank of Thailand has rejected a request from the stock market to waive the 30 percent reserve rule on foreign investors for the new ThaiDEX SET50 exchange-traded fund. Thirachai...

Election no panacea, warn businessmen.
September 4, 2007... Byline: Wichit Chantanusornsiri Sep. 4--Business leaders expressed doubts that the next government will be able to revive investor and consumer confidence to help jump-start economic growth. The next government was almost certain to be...

Supalai planning.
September 4, 2007... Byline: Kanana Katharangsiporn Sep. 4--The listed developer Supalai Plc (SPALI) plans nine more projects in Bangkok and Phuket worth 11.5 billion baht within this year. Deputy managing director Atip Bijanonda said the company planned to...

Central to revamp Silom site: Ageing store set to be.
September 4, 2007... Byline: Pitsinee Jitpleecheep Sep. 4--Central Retail Corporation, the country's leading retail chain, plans to close its legendary department store on Silom Road for a complete overhaul by the middle of this month. An executive at...

TOT pushes.
September 4, 2007... Byline: Komsan Tortermvasana Sep. 4--The third generation (3G) mobile phone project of Thai Mobile under a government-to-government model inched a step closer after TOT Plc said it would submit a draft plan and feasibility study to its...

IATA warns about economic volatility.
September 5, 2007... Byline: Boonsong Kositchotethana Sep. 5--If the volatility in global stock markets begins to affect the wider economy, the spin-off effect will drag down air travel demand, the International Air Transport Association (IATA) has warned. ...

Supalai planning nine new projects.
September 5, 2007... Byline: Kanana Katharangsiporn Sep. 5--The listed developer Supalai Plc (SPALI) plans nine more projects in Bangkok and Phuket worth 11.5 billion baht within this year. Deputy managing director Atip Bijanonda said the company planned to...

Fitch sees high growth in 2008: General election to improve confidence.
September 5, 2007... Byline: Parista Yuthamanop Sep. 5--The Thai economy is expected to accelerate next year, buoyed by improved confidence and public investment after the general election, said Fitch Ratings. Protracted political uncertainties have caused...

Metrostar plans property fund.
September 5, 2007... Byline: Kanana Katharangsiporn Sep. 5--The listed developer Metrostar Property Plc (METRO) plans to sell its serviced apartment building on Sathon Road worth 2.5 billion baht to a property fund with a target yield of 8 percent per year,...

Bangkok Post, Thailand, business briefs column.(Column)
September 5, 2007... Sep. 5--DUTCH PARTNER FOR PDI: Nyrstar Netherlands (Holdings), the world's largest zinc producer, has acquired a 24.9 percent stake in SET-listed Padaeng Industry Plc (PDI). Umicore Zinc Alloys, a major shareholder of Padaeng with 46.9...

TT&T affiliate targets 50% subscriber growth.
September 5, 2007... Byline: Srisamorn Phoosuphanusorn Sep. 5--TT&T Subscriber Services Co, a subsidiary of the provincial fixed-line operator TT&T, is spending 150 million baht to promote its broadband services in an effort to lift its high-speed internet...

Cabinet to amend business law.
September 5, 2007... Byline: Wichit Chantanusornsiri Sep. 5--Amendments to the joint public-private venture law aim to strike a balance between flexibility in state policy and safeguarding against potential interference and corruption, said Pongpanu...

Canadian condos on offer.
September 5, 2007... Byline: Kanana Katharangsiporn Sep. 5--The property brokerage Harrison Plc plans to sell a luxury condominium located in Toronto, Canada this weekend with a sales target of 100 million baht, said managing director Kittisak Jampathippong....

The madness that is the 23 days of the Edinburgh Festival Fringe.
September 5, 2007... Byline: Amitha Amranand Sep. 5--Towards the end of August, the moon was extraordinarily large; strange in appearance, yet hypnotically beautiful. And when you weren't too busy navigating the steep stairways tucked discreetly between...

Thailand remains a strong garment player.
September 5, 2007... Byline: Darana Chudasri Sep. 5--Thailand remains a key player in the world textile and garment trade, although future growth will be contingent on productivity gains, according Dej Pathanasethpong, president of the Thai Garment...

Thai firms must cut emissions.
September 5, 2007... Byline: Aranee Jaiimsin Sep. 5--Thailand's industrial sector needs to speed efficiency upgrades to reduce greenhouse gas emissions or it will face growing difficulties in the world trade market, said Chakramon Phasukvanich, the permanent...

BoT may exempt ETFs from reserve.
September 5, 2007... Byline: Parista Yuthamanop Sep. 5--The Bank of Thailand will again consider exempting the 30 percent reserve requirement on foreign holdings in the ThaiDEX SET50 exchange-traded fund, according Suchart Sakkankosone, director of the...

Apex expects B6.3bn from Pattaya project.
September 5, 2007... Byline: Krissana Parnsoonthorn Sep. 5--Apex Development Plc, formerly known as Sun Tech Group, expects to generate 6.3 billion baht in sales from developing the White Sand Beach residential complex in Pattaya from 2008-10. Apex...

President Agri faces fresh fraud charges.
September 5, 2007... Byline: Phusadee Arunmas Sep. 5--The embattled rice exporter President Agri Trading is facing allegations of possible embezzlement of 34,000 tonnes of rice worth more than 300 million baht from the Commerce Ministry. But President Agri...

Annual BoT symposium to focus on risk.
September 5, 2007... Sep. 5--The Bank of Thailand will hold its annual economic symposium with the theme "Managing Financial Risks for the Coming Decade" at the Shangri-La Hotel in Bangkok from Oct 3-4. Participants will discuss how to broadly distribute the...

IATA warns about slowdown.
September 6, 2007... Byline: Boonsong Kositchotethana Sep. 6--If the volatility in global stock markets begins to affect the wider economy, the spin-off effect will drag down air travel demand, the International Air Transport Association (IATA) has warned. ...

TMB recap plan delayed yet again.
September 6, 2007... Sep. 6--TMB Bank yesterday acknowledged that its capital increase plan would be delayed further, but insisted that it could occur by the end of the year. "The bank is still in the process of developing its capital adequacy plan. The plan...

Egat pushes ahead with coal plants.
September 6, 2007... Byline: Yuthana Praiwan Sep. 6--The Electricity Generating Authority of Thailand is going forward with plans to build four new coal-fired power plants to increase its generating capacity by 3,200 megawatts. The plan comes despite...

Red Earth goes 'masstige': Cosmetics prices cut to widen market base.
September 6, 2007... Byline: Pitsinee Jitpleecheep Sep. 6--Red Earth is rebranding its cosmetics products globally to offer more prestige but at affordable prices, aiming at widen its customer base. The brand, which originated in Australia, has gone global...

B200m will go to nuclear PR.
September 6, 2007... Byline: Yuthana Praiwan Sep. 6--Despite safety concerns among the public, the Energy Ministry has decided to move forward with the plan to build the country's first nuclear power stations and aims to open the first plant in 2021. A...

Family bookings surging in region.
September 6, 2007... Sep. 6--Southeast Asian countries have become increasingly popular vacation spots for families with the volume of bookings having quadrupled in the last three years.The demand is being met by an increase in the number of hotels that specialise...

Jim Thompson to open Japan outlet.
September 6, 2007... Byline: Sriwipa Siripunyawit Sep. 6--TOKYO -- Jim Thompson, one of Thailand's most established international brands, is banking on an aggressive expansion of its food and beverage business overseas to boost its brand awareness. The...

Union Footwear owners vote to maintain its listing status.
September 6, 2007... Byline: Nuntawun Polkuamdee Sep. 6--Shareholders of Union Footwear have voted overwhelmingly to maintain the company's listing status on the Stock Exchange of Thailand. More than 87 percent of shareholders on Tuesday voted in favour of...

Lender seeks role in halal food business.
September 6, 2007... Byline: Wichit Chantanusornsiri Sep. 6--The Islamic Bank of Thailand wants to become the market leader in funding the growing halal food industry, according to acting bank president Dheerasak Suwannayos. The bank this month introduced...

Pepsi signs up hip-hop group.
September 6, 2007... Sep. 6--Pepsi has reinforced its marketing campaign by tapping the popular hip-hop sensations Black Eyed Peas as its new celebrity endorsers. According to Charlie Jitcharoongphorn, marketing director of Pepsi-Cola (Thai) Trading Co, the...

Iris aims for listing on the SET by 2012.
September 6, 2007... Sep. 6--The property developer Iris Group hopes to list on the Stock Exchange of Thailand by 2012 to finance the company's plans to expand into hotels and resorts. Kittipong Sumanont, chief executive of the Iris Group, said the company...

UV to expand investments in property sector.
September 6, 2007... Byline: Kanana Katharangsiporn Sep. 6--Univentures Plc (UV) plans to expand its property investments after a company owned by two sons of liquor tycoon Charoen Sirivadhanabhakdi became new major shareholders and injected one billion baht,...

BoT to waive reserve requirement for ETF.
September 6, 2007... Sep. 6--The Bank of Thailand has agreed to waive the 30 percent reserve rule for foreign investment in the SET's new exchange-traded fund, ThaiDEX SET50. The fund, Thailand's first ETF, will begin trading on the Stock Exchange of Thailand...

Banks rip President Agri for not paying.
September 6, 2007... Sep. 6--Local bankers insist that President Agri Trade has deliberately defaulted on its loans despite the ability to pay. The bankers pointed to the company's rice exports of 200,000 tonnes in the first seven months of the year as evidence...

Security system sales fuelled by fear of unrest.
September 6, 2007... Byline: Aranee Jaiimsin Sep. 6--Demand for safety and security systems in Thailand is expected to grow over the next three years, driven by the fear of unrest, according to Robert Bosch Ltd. Marketing manager Arnon Kulawongvanich said...

FTSE SET Large Cap Index due next year.
September 6, 2007... Byline: Nuntawun Polkuamdee Sep. 6--The Stock Exchange of Thailand and the FTSE Group will launch the new FTSE SET Large Cap Index early next year. The tradable index will comprise top companies listed on the SET board ranked by market...

TAT to pull out of long-stay company.
September 6, 2007... Byline: Chatrudee Theparat Sep. 6--The Tourism Authority of Thailand plans to sell its 30 percent stake in Thai Longstay Management Co (TLM) to create a level playing field for the industry. Tourism and Sports Minister Suvit Yodmani...

Thai Credit Retail starts gold for cash.
September 7, 2007... Byline: Darana Chudasri Sep. 7--Thai Credit Retail Bank, self-described as Thailand's community bank for the people, formally opened its first branch yesterday in the middle of the Huai Khwang market. Chief executive Mongkon Leelatum...

Alstom looks to boost presence across Asia.(Company overview)
September 7, 2007... Byline: Aranee Jaiimsin Sep. 7--Alstom, a global leader in power-generating technology, will recruit more than 1,000 Asian workers to support high growth as its operations in Asia look set to become larger than those in Europe for the...

First ETF launch is a success.
September 7, 2007... Byline: Krissana Parnsoonthorn Sep. 7--The ThaiDex SET50 ETF made a successful debut on the stock exchange yesterday with unit prices closing 3.6 percent higher than the initial public offering price. Unit prices of TDEX opened at 5.89...

CPF confident as meat prices rise.
September 7, 2007... Sep. 7--Charoen Pokphand Foods Plc (CPF), the country's largest food exporter, is confident on the outlook for its second-half operations thanks to good results from overseas investments and higher prices for meat products. CPF's unit in...