Olefins plant part of Bt60-billion plans. The Siam Cement Group (SCG) will invest Bt60 billion in a new petrochemical complex, its largest project since the 1997 economic crisis. The project was announced yesterday, when Thailand’s largest manufacturing conglomerate reported a 30-per-cent year-on-year drop in its third-quarter net profit, largely on shrinking margins in its petrochemical business.

ShinSat looks to lower costs

NTC licence sought for Thaicom 5 in lieu of concession fee. Shin Satellite Plc plans to apply to the National Telecommunications Commission for a licence for its next communications satellite, Thaicom 5, on the belief that it will cost less than paying a concession fee to the Information and Communications Technology Ministry.

Home users likely first in line in Egat IPO

Egat Plc’s 14 million household customers are tipped to be the first to subscribe to the electricity agency’s shares to be floated next month, Energy Minister Viset Choopiban said yesterday.

Revenue from auctions of seized cars rises

The Customs Department has generated Bt766 million this year from six auctions of seized vehicles.

Cerebos out to crush bird-flu fears

Cerebos (Thailand) Co Ltd, manufacturer of Brand’s essence of chicken and birds’ nest beverages, plans to visit its 16 export markets to reassure consumers and trade partners that its products are free of bird flu.

STREET WISE: Another local boss gets kudos

Amid the ceaseless flow of foreign capital, local captains of industry are fighting hard to stay in business, let alone become the biggest player in their particular industry. Thus, whenever their achievements are recognised abroad in international business magazines, it’s a trophy to be trumpeted.

WHITE-COLLAR CRIME: Stronger laws needed: Somkid

Existing penalties not deterring wrongdoers, says commerce minister

DEBT RESTRUCTURING: Daidomon to file rehab plan

Daidomon Group Plc is to file a business rehabilitation plan featuring a 50-per-cent debt forgiveness with the Central Bankruptcy Court by January, an executive said yesterday.

Bad loans falling faster than predicted

The financial system’s non-performing loans (NPLs) at the end of September fell to Bt576.9 billion, or 9.93 per cent of outstanding credit. The reduction outstripped Bank of Thailand forecasts.

Picnic stake now only 3.2%: Theeratchanon

Theeratchanon Lapvisuthisin has advised the Securities and Exchange Commission that he transferred 2.05 per cent of the shares of Picnic Corp Plc to Supaporn Lapvisuthisin, his sister, on October 21, leaving his shareholding in the mini-gas producer at 3.23 per cent.

HOT STOCKS: Stock: Bangkok Bank (BBL)

Recommendation: Buy

BIZNEWS ROUND-UP

- AIG Finance (Thailand) is offering “AIG Auto Plus” car-for-cash financing, targeted at its 20,000 customers and AIA’s clients. The loan provides up to 70 per cent of the appraisal prices or Bt1 million with the longest instalments at 36 months.

Sampanh slams competitors

Sampanh Insurance yesterday accused its rivals of low-balling prices, which kept the company’s premiums from growing in the third quarter.

IMPACT OF FTAS: ‘Look beyond trade deficits’

Focus more on higher purchasing power: TDRI

Serious fallout from Koizumi shrine visit

Japan’s Prime Minister Junichiro Koizumi’s recent visit to the Yasukuni Shrine has prompted suspension of trilateral free-trade negotiations with China and South Korea and will delay the establishment of a regional economic bloc, the ambitious East Asian Community (EAC), linking the three countries with Asean.

ANA to start cargo service

All Nippon Airways (ANA) plans to operate a cargo service from Bangkok to Kansai and Nagoya in Japan, starting early next year.

Unilever campaign includes scalp checks, fashion advice

Unilever Thai Trading Ltd yesterday started a new campaign for its Clinic Clear line, the largest player in the fast-growing health shampoo market.

BUSINESS DIARY

08.00 Productive talk

COMPANY REPORTS

CH KARNCHANG purchased 23.25 million ordinary shares in subsidiary Southeast Asia Energy Ltd at the par value price of Bt10 per share, or Bt232.5 million. Southeast Asia Energy increased its registered capital from Bt100 million to Bt400 million, through the issue of 30 million ordinary shares.

MARKETING CAMPAIGN: Builder to dole out bonds

Build to Built Co to offer unit trusts to new homebuyers

Home developers hit by slowdown

As the home-building market contracts in the wake of tighter economic conditions, many builders are seeing a drop in sales, missing their targets for the first nine months of this year by an average of 20 per cent.

PM to mull foreign firms in services

Deputy Prime Minister Somkid Jatusripitak will ask Prime Minister Thaksin Shinawatra today to approve opening the service sector to foreign competition.

Processed chicken exports flying high

The Export Promotion Department expects exports of frozen and processed chicken to increase 37.7 per cent, or Bt774 million in value, this year.

Bohemia crystal sales soar

Demand for Bohemia crystal continues to show strong growth, up 20 per cent this year, according to Jiraporn Chareankittiyaporn, managing director of Bantai Crystal Ceramic Co Ltd.

‘Aggressive’ DTAC preps for big push

Total Access Communication (DTAC) is ready to move more aggressively after the change in the shareholding in its group last week.

Bid to improve region’s fairs

Convention and exhibition experts from 21 Asia-Pacific countries have set up a working group to improve regional exhibitions to international standards as well as human resources development.

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