Top exporter loses despite best offer. Chaiyaporn Rice has emerged as the unlikely winner of the Commerce Ministry’s rice bid on Monday, leaving the country’s biggest rice exporter, President Agri Trading, empty-handed despite it having offered the highest bid at first.

ANALYSIS: Drastic measures needed at THAI

Thai Airways International will have to drastically cut back its fixed personnel costs and revamp its operations if it is to survive, Thanong Khanthong reports. Thai Airways International (THAI)’s third-quarter results were ugly by all accounts. The airline posted a net loss of Bt4.77 billion in the three-month period from April to June alone.

LATE NEWS: ABSOLUT VODKA: New flavour: A hint of longan

Maxxium Fine Wines and Spirits (Thailand) has added longan flavour to its range of Absolut Vodka drinks in a move that it said had nothing to do with Thailand’s current longan oversupply problem.

Davao to host Asean tourism forum

The city of Davao in the Philippines will host the Asean Tourism Forum (ATF) next year following Burma’s decision not to host the meeting in Rangoon due to political pressure.

CENTRAL PLAZA HOTEL PLC: Steeb to steer firm’s overseas expansion

Industry veteran takes over from Suthikiat as company president

Fair lures Milan’s furniture makers

The Italian Trade Commission announced last week that 35 furniture companies from Milan would participate in a major design trade show in Bangkok next month.

COMPANY REPORTS

ABICO HOLDINGS posted an audited second-quarter net profit of Bt7.69 million, up from its loss of Bt493,000 in the same period last year.

CONSUMER SURVEY: Tighter economy crimps spending

Households watching purchases of goods carefully, ACNielsen poll finds

SEMINAR: Foreign investment key to growth: economists

The Kingdom’s economy in the near future will continue to be affected by staggeringly high oil prices and the global economic decline, but economists suggest the government should cushion the blows by promoting more foreign direct investment in order to boost growth.

Firms tie up to create ‘e-port’

Three private port operators have started an electronic handling service at Laem Chabang Port.

S&P lowers growth target as consumers tighten their belts

Restaurant and bakery operator S&P Syndicate Plc has reduced its sales-growth target for the year from 16 per cent to 11 per cent due to a slowdown in monthly consumer spending, the company’s president said yesterday.

Animal feed show returns

Victam International has once again chosen Thailand as the host of the Asian International Animal Feed Exhibition, which will be held from March 8-10, 2006 at the Queen Sirikit National Convention Centre.

Big drop in new projects – L&H

Many small and medium-sized developers have withdrawn from the market due to concerns over consumers’ lower purchasing power and higher costs driven by steep oil-price increases, Thailand’s largest developer said yesterday.

Central chimes in with watch fair

The countdown has begun for next month’s annual watch fair at Central Chidlom, when 11 watch retailers will display 150 brands.

Fuel-price rise

PTT Plc has signalled another fuel-price rise this Saturday – of probably 40 satang a litre.

STREET WISE: Will PM’s plan for Ping hold water?

To flood victims in Chiang Mai, it was a relief to see Prime Minister Thaksin Shinawatra checking out the situation along with city officials. He was at the right place at the right time as the impact was indeed more shocking than that of the drought that has crippled the Eastern Seaboard.

STOCK EXCHANGE: SET suspends trading in 19 companies

Auditors question accounts of 13, results of 6 more late

Picnic’s second-quarter profit tumbles on amended results

Picnic Corp’s second-quarter net profit tumbled nearly 50 per cent year on year from Bt55.4 million to Bt30.5 million, partly due to the company’s financial-result amendment as recently required by the Securities and Exchange Commission.

DEBT RESTRUCTURING: NPAs rise 1.75% in Q2

Delay in disposing of assets blamed on time-consuming auction process

More details for Cabinet

Finance Minister Thanong Bidaya said he would instruct his ministry and the Bank of Thailand (BOT) to present detailed macroeconomic reports to the Cabinet every three months.

Bond market to get boost

The Finance Ministry next year will allow foreign corporations and banks to issue baht-denominated bonds, while foreign investors will be allowed to buy more local bonds.

HOT STOCKS: Stock : Siam City Cement Plc (SCCC)

Recommendation : Sell

Biznews round-up

BankThai has announced that it will raise interest rates for time-deposit accounts from Friday. The small-sized bank will jack up its rates by 25 basis points for 3-, 6-, 12- and 24-month fixed deposit accounts to 1.25 per cent, 1.5 per cent, 1.75 per cent, and 2 per cent, respectively. Its 36-month time deposits will go up by 1 per cent to 3 per cent.