Court’s decision may delay planned sale of other state-owned enterprises. Egat Plc may need to review its initial public offering (IPO) price if the share-sale process is allowed to resume. Financial advisers believe this is one possible unfavourable outcome of the Supreme Administrative Court’s decision on Tuesday, apart from the disappearance of US$1 billion (Bt41.18 billion) in potential investment funds.

Egat staff rue their share loans

The eleventh-hour suspension of Egat Plc’s initial public offering has caused concern among its employees, 90 per cent of who had taken out loans to buy the shares. Choocheep Kanjanasoot, an Egat worker, said he was quite worried because he had taken out a loan to snap up 10,000 shares and payments would be deducted from his pay check starting this month.

New agency planned in place of TAMC

Finance Minister Thanong Bidaya plans to replace Thai Asset Management Corp (TAMC) with another asset management company in preparation for cleaning up bad assets at state-owned banks.

Listed firms post 13% profit

The Stock Exchange of Thailand said yesterday that 438 listed companies had delivered 13-per-cent growth for a combined profit of Bt322.44 billion in the first nine months.

TRIS Rating: Advance Agro in technical default

TRIS Rating yesterday announced a credit alert with a “developing” designation for Advance Agro Plc (AA) after AA and its subsidiary in the Netherlands, Advance Agro Capital BV, committed a technical default under the indenture of guaranteed notes issued in the United States.

STREET WISE: Connections no guarantee

Krisda Mahanakorn Plc (KMC) saw its share price drop from Bt4.20 on Tuesday to Bt3.98 yesterday. At first glance that’s not a big deal, given the sluggish stock market.

SURVIVING THE SHAKE-OUT: Finansa Credit to stay afloat

Despite banking licence refusal, firm will double capital, focus on retail customers

COMMERCIAL BANKS: Bigger is better, says BOT governor

The Bank of Thailand (BOT) is encouraging commercial banks to merge into larger entities that will be more competitive in regional financial markets and in drawing foreign capital.

SET again tells IEC to clarify lease transfer

The Stock Exchange of Thailand yesterday ordered International Engineering Plc (IEC) to clarify for a second time its directors’ and audit committee’s opinion that the transfer of a lease from Arcade Management and Service Ltd was not a connected transaction.

Suwimol sells Picnic stock

Suwimol Thongkorn has disposed of 205.09 million shares in Picnic Corp Plc, representing 6.95 per cent of the company’s stock and leaving her with a 1.56-per-cent stake.

Tax cuts to aid print industry

Print-media and publishing houses are likely to benefit from an expected tax reduction on 114 imported raw-material items.

HOT STOCKS

Stock: Quality Houses Plc (QH)

LOOKING BEYOND THE EU: Poland forging closer ties with Kingdom, Asean

Trade, investment at forefront of Warsaw’s relations with Bangkok

Crystal goes charismatic in makeover

Crystal pure-water manufacturer Serm Suk Plc has renovated Crystal’s image by changing its logo and packaging design under the “Charisma from Within” concept to emphasis its cleanliness and purity.

BUSINESS DIARY

09.00 Metalwork shindig

COMPANY REPORTS

ASIAN PROPERTY DEVELOPMENT reported that its newly established subsidiary, the real estate brokerage Bangkok CitiSmart, is ready to begin operations.

IN BRIEF: Banpu

S’pore barge deal

TELECOMMUNICATIONS: CAT to pay Bt13m fee today

Private concessionaires not included in payment to the NTC

Trade pact with Peru to be signed

Thai and Peruvian commerce ministers are scheduled to sign a free-trade early-harvest

‘WTO meet should focus on developing nations’

The World Trade Organisation’s ministerial meeting in Hong Kong next month should focus more on trade benefits for developing countries if it is to be regarded as a success, a senior UN official said yesterday.

British travel fair in Phuket

The British tourism organisation “Visit Britain” will organise its “Destination Britain” trade fair in Phuket in May 2006 to attract Thai and other Asian tourists to vacation in England, Scotland, Wales and Northern Ireland.

Activate the brand to win over clients

Brand activation will become a new marketing tool next year as business players focus on creating an experience between their target customers and the brand, said Dr Lackana Leelayouthayotin, CEO of Cerebos (Thailand), manufacturer of Brand’s Essence of Chicken.

E-complaint office slated

E-commerce customers will be able to make complaints about Internet-based traders to a soon-to-be-established online centre.

LATE NEWS: Petroleum

Local demand up 4.1 per cent