Petition dismissal allows PTT, state agencies to take over. The Supreme Court yesterday threw out Prachai Leophaira-tana’s petition to buy back into Thai Petrochemical Industry Plc (TPI), paving the way for PTT Plc and its allies to take over the country’s largest debt defaulter. The Supreme Court’s verdict has effectively brought to an end the seven-year saga surrounding Prachai’s stubborn and at times desperate attempts to reclaim control over the company his family founded.

Politician dons developer’s hat

Democrat Party deputy leader Niphon Promphan has turned his mother’s 250-rai plot of land near Rama IX Park into a Bt2.4-billion single-detached housing project targeting high-end home buyers. He expects to officially launch the project by February next year. Price tags per unit range from Bt15 million to more than Bt100 million, depending on the size of land and floor space.

PM’s decision on train financing delayed again

Prime Minister Thaksin Shinawatra yet again postponed its decision to approve the financing of four new electric train routes at yesterday’s Cabinet meeting. The plan’s next stop: next week’s meeting.

Mitr Phol to spread its sweetness

Mitr Phol Corp Ltd yesterday unveiled a redesigned logo under the concept “It’s not just sugar” ahead of launching its “Mitr Phol” packaged sugar on to overseas markets next year.

STREET WISE: Team covers all bases for ruling

With the build-up of suspense leading to the Supreme Court’s ruling yesterday, the Thai Petrochemical Industry Plc (TPI)’s administrative team prepared three sets of press releases covering all possible scenarios because nobody had a clue which side would win the case.

DEBT REPAYMENT: Court case looms over Picnic

Default on bills of exchange repayment may end in legal action against the firm

COURT DECISION: TPI’s future looking up

Prospects for Thai Petrochemical Industry (TPI) looked much rosier after a court yesterday rejected a request by its founder for first rights when the company sells new shares as part of its financial rescue plan, said stock analysts.

Motorists opting to rent, lease cars

Krungthai Car Rent and Lease Plc is expecting 20-per-cent growth in 2006, as more motorists are turning to renting or leasing cars instead of buying them.

Easy Buy bows to BOT rule

Easy Buy customers who borrowed money before July 1, 2005, and have maintained a good credit record will be charged interest and fees not exceeding the Bank of Thailand’s 28 per cent limit from this month onwards, company executives said yesterday.

Treasury-bill limit lifted

The Cabinet yesterday approved increasing the treasury-bill limit to Bt250 billion by issuing treasury bonds worth Bt80 billion.

HOT STOCKS

Stock: Aromatics Plc (Thailand)

PARTNERSHIP RUMOUR: DTAC can stand on its own: Brekke

Mobile phone firm has expertise, cash to grow on its own

Deal makes TSPKK top chassis maker

Car-parts manufacturer Thai Summit PKK yesterday signed a Bt350-million agreement to purchase all of the shares of Siam Auto Manufacturing (SAM).

Movie multiplexes see blockbuster year

Despite economic uncertainty and consumers cutting back on spending, the film industry remains optimistic, with substantial growth of 20 per cent expected for this year.

Rose Video set to blossom

The economic slowdown has prompted people to stay home and enjoy more home entertainment, a trend that Rose Video Co Ltd believes has helped it achieve sales growth of 20 per cent this year, to Bt300 million.

Bird flu blamed for tourism fall

The Thai Hotels Association believes that tourist arrivals in the country will not reach estimates of 13.48 million, set earlier this year, because of fresh outbreaks of bird flu in several Asian markets, including China.

King Power staffs up Suvarnabhumi branch

The King Power group of companies has appointed four directors for its new subsidiary, King Power Suvarnabhumi Co.

LATE NEWS: Travel

Bt90m budget for ecotourism

EVALUATING PERFORMANCE: New state agency scorecard

Measurement expected to better services, products

S’pore-Thai meet may be the start of a larger Asean community

Businesses in Singapore and Thai-land took another step to further bilateral trade and investment last week at the second meeting of the Singapore-Thailand Enhanced Economic Relationship (Steer).