Registered capital below reporting requirement: governor. Prime Minister Thaksin Shinawatra did not ask for the Bank of Thailand’s permission to take money to the British Virgin Islands when he set up Ample Rich Investment Co Ltd in the tax haven, the central bank chief said yesterday.

ECONOMIC OUTLOOK: Higher bus fares will boost inflation: BOT

Central bank says forecasts still valid despite rise in transportation costs. The Bt1 hike in public bus fares approved for next week will add 0.3 percentage points to inflation, the Bank of Thailand said yesterday. Senior central bank director Suchada Kirakul said the higher transportation costs could boost the core inflation rate to possibly 2.8 per cent and headline inflation to 4.5 per cent, which are at the upper range of earlier estimates of 2-3 per cent and 3.5-5 per cent, respectively.

SCB: No tender-offer financing

Siam Commercial Bank (SCB) will not help finance Temasek Holdings’ tender offer for the remaining outstanding shares in Shin Corp Plc and Advance Info Service Plc, bank president Jada Wattanasiritham said yesterday.

KFC to feature new formats in provinces

Fried-chicken fast-food chain KFC yesterday said it would spend Bt500 million this year on new restaurant formats in its expansion upcountry, while simultaneously enlarging its Bangkok market.

Somkid favours Narongchai

Former commerce minister Narongchai Akarasnee is on the government’s short list for a new head for the Thai-US free-trade negotiations and it looks like he will be tapped before the seventh round of talks start in the US start later this month.

STREET WISE: Jada, left, Chirayu and Wichit light up the fireworks put in champagne bottles.

Big party but so many questions

No hassles in setting up an outfit in British Virgin Islands

Incorporating an international business company in the tax haven of the British Virgin Islands is easy, quick and cheap.

THAI BEVERAGE LISTING: PM to be petitioned

A total of five trade associations are requesting that Thaksin encourage authorities to give their approval. Five investment trade associations are intending to submit a petition to Prime Minister Thaksin Shinawatra asking him to encourage the listing of Thai Beverage Plc on the Stock Exchange of Thailand (SET).

System to gauge fiscal risks set to be overhauled

The Fiscal Policy Office’s warning system will be upgraded to evaluate all aspects of risks to the country’s fiscal status and give the finance minister better information to direct economic policy.

Net profits down for brokerage houses

Brokerage houses’ net profits fell significantly last year, due mainly to a sharp decline in the stock market’s overall trading volume. Kim Eng Securities (Thailand) saw its net profits drop 31.43 per cent year on year, from Bt1.04 billion in 2004 to Bt715 million last year, the company reported in a filing to the Stock Exchange of Thailand (SET) yesterday.

MFC Asset sets out expansion strategy

MFC Asset Management Plc will become a holding company to broaden its business activities and be involved in financial advisory services, property services and state mega-projects, said a source close to the Finance Ministry yesterday.

Banks to charge more for cheques

Starting March 6, bank fees for cheques and other forms of paper-based payment will be significantly hiked, while electronic-payment charges will be reduced, to promote electronic banking.

Big PTTEP profit rise

PTT Exploration and Production Plc’s profit jumped about 50 per cent last year to Bt23.73 billion , from Bt15.87 billion in 2004.

NEW CONDOS IN TOWN: The Clover Thonglor in demand

Aquarius Estate to manage Top Line Living’s Bt2-billion, 590-unit project. Top Line Living Co Ltd has assigned Aquarius Estate Co Ltd to manage “The Clover Thonglor”, its 590-unit condominium project in the heart of Bangkok’s Thonglor area. The project is valued at more than Bt2 billion. Top Line executive director Manop Kheawchaoom said yesterday that Aquarius Estate would manage the whole project, including market research, product design, marketing, sales, advertising and public relations.

Further growth for drug industry

The Thai pharmaceutical industry can look ahead to another year of growth thanks to the rising number of health-conscious people, the government’s policy of health awareness, its strategy to turn the Kingdom into a regional healthcare hub, and export expansion.

TAT plans retiree card

The Tourism Authority of Thailand is planning to launch a “Golden Travel Card” programme, targeting retired people aged 55 and over.

AIS issues Dee Dee card for those who don’t make calls

Advanced Info Service Plc (AIS) has introduced a SIM card for its subscribers who want only to receive calls. By using the Dee Dee (“Very Good”) SIM card at a cost of Bt150 apiece, subscribers do not have to buy refill cards to keep extending the validity of the service period.

IN BRIEF: Air-conditioning

CI Group expects sales to rise 62 per cent to Bt1.3 billion CI Group Plc expects sales of Bt1.3 billion this year, up 62.5 per cent from last year’s estimated sales of Bt800 million, according to director Theera Poomsanoh.

Japanese upbeat but guarded

Japanese investors in Thailand anticipate improved business sentiment in the first half of the year, but are worried about potential negative factors, such as a hike in material prices and costs, including wages, increasing oil prices and the possibility of consumption suffering because of economic stagnation.

HOTEL ASSOCIATION: Alcohol bill ‘harmful’

Puritanical move to restrict sales could wreck tourism, warn hoteliers. The Thai Hotel Association (THA) yesterday said it disagreed with a new Public Health Ministry draft bill restricting sales of alcoholic beverages in hotels and restaurants.

President-Agri outbid by two competitors

President Agri Trading, the country’s second-largest rice exporter, will lose the chance to win the complete lot of rice up for bid by the Commerce Ministry, although its offer price is US$1 (Bt39) per tonne higher than the average price.

Rhythm eyes interiors

Japanese watchmaker Rhythm Watch Co Ltd will apply the concept of “Timepieces for Home Decoration” this year, seven months after re-entering the Thai market.

Potash claim rebutted

Democrat MP Thavorn Senniam yesterday rebutted the allegation made by Sommai Phasee, a senior Asean Potash Mining Plc executive, that the current shareholding structure of the company was initiated by then finance minister Tarrin Nimmanahaeminda.

LATE NEWS: saxena case

Statutory limit ‘not breached’

Bidding open energy complex

About 20 local contractors are interested in bidding for the national energy complex on Bangkok’s Kamphaeng Phet Road, which is being billed as the first true energy-saving building in Thailand.

FTAs get new moniker

Due to growing sentiment in Thailand against free trade agreements (FTAs), the government plans to rename all bilateral free trade pacts to “economic partnership agreements”, in a bid to divert attention from free trade and avoid further intense protests.