Short-term pull-back by foreign investors, but long-term change in sales of enterprises. The Supreme Administrative Court’s suspension of Egat Plc’s stock offering shocked the financial community, but its ill effects on markets would soon fade away while its significance for national privatisation policy would endure.

Honda has high hopes for new Civic

Honda Automobile (Thailand) expects to sell 26,000 units of its new eighth-generation Civic and raise its market share in the sedan segment from 21 per cent this year to 30 per cent next year. The new model comes with a choice of 1.8 or 2.0-litre i-VTEC engines, and manual or automatic transmission. Prices range from Bt736,000 to Bt1.07 million.

COMPANY REPORTS

BANGCHAK PETROLEUM showed a slight increase in third-quarter net profit to Bt1.25 billion, from Bt1.2 billion in the same period last year.

Injunction a setback

The suspension of Egat’s IPO is likely to pare back its four-year investment plan worth about Bt150 billion, an Egat source said yesterday.

Court orders new hearing of Prasit plan

The Supreme Court yesterday ordered a new hearing of Phyathai Hospital operator Prasit Patana Plc’s rehabilitation plan, overruling the Central Bankruptcy Court’s approval of the plan at the end of 2004.

Minor eyes China, the Maldives

Minor International Plc plans to invest Bt8 billion over the next three years to expand its restaurant operations into China and hotels and spas in the Maldives and the Middle East.

STREET WISE: Chaos rules after IPO is shot down

Yesterday was such a tough day for reporters on the energy beat, especially those covering the Egat IPO.

MATCHING STUDIO: Media firm to prune its operations

Company is to concentrate on producing ads, TV programmes, films

INSURANCE INDUSTRY: Thai Commercial snapped up

Navakij Insurance Plc yesterday said that it would completely take over Thai Commercial Insurance Plc, increasing its stake from the current 71 per cent.

Kbank to focus more on SMEs

Kasikornbank next year plans to concentrate on its largest lending base by segmenting its SME customers according to their annual sales figures.

BOT unruffled by TMB Bank losses

The Bank of Thailand (BOT) said it is not worried about TMB Bank’s retained losses of Bt51.6 billion because the bank continues showing sustained profits.

FTA likely to end price war

Despite the tough competition that lurks after a free-trade pact with the US is concluded, fund managers expect their foreign peers to come in and alleviate the current management-fee price war in the industry.

BIZNEWS ROUND-UP

- The Bank of New York recently signed an expanded electronic-banking and cash-management services agreement with Krung Thai Bank. This makes KTB the first local bank to offer its clients an Internet-based system for transaction processing.

DTAC launches new ‘Work’ promotion

Total Access Communication (DTAC) yesterday launched “Work”, its post-paid call promotion, which offers subscribers substantial discounts on long calls and aims to maintain the company’s customer base.

INDUSTRY PROFILE: Lacoste’s head defers to the croc

Plans to introduce a new line of silk clothes in Thailand

Ministry wavers on mega-project plan

The Transport Ministry yesterday withdrew the Bt280-billion mega-project plan from the Cabinet’s meeting agenda.

Books top list of online purchases in Thailand

More than 627 million people worldwide have shopped online, including at least 325 million within the last month, says a new study released yesterday by ACNielsen (Thailand).

Two Met Stores slated

Instyle Associates Co Ltd, a licensee of The Metropolitan Museum of Art in New York, is spending Bt15 million to open two new branches at the Siam Paragon shopping complex and J Avenue mall in Bangkok.

Thais urged to trade with the new Iraq

Despite Iraq’s security problems, exporters can seize the opportunity presented by its huge post-war demand for agricultural and industrial goods by shipping via a third country, a Thai trade representative said yesterday.

LATE NEWS: ETo

Union protests agency closure