Caretaker Finance Minister Thanong Bidaya said yesterday after meeting Takeo Matsuzawa, director-general of JBIC's development assistance department, that the bank intended to finance the rail project after the ministry submitted a letter detailing the project financing last Friday.

He said the next step was for JBIC, the Finance Ministry and the Transport Ministry to finalise the details of the loan.

"The JBIC can provide good terms for project financing with low interest rates of 0.5 to 0.75 per cent for a period of not less than 20 years," said Thanong.

Apart from the loan from the JBIC, he said, the government would seek domestic loans from other sources, because the Japanese lender cannot finance more than 80 to 90 per cent of the project value. - The Nation.

NFC upbeat on future

Despite its position in the non-performing group, NFC Fertiliser Plc has insisted on retaining its place in the Stock Exchange of Thailand and expects to make a net profit within two years, thanks to revenues from its new tank-farming and logistics business in Rayong Bulk Terminal Co Ltd (RBT).

Nuttaphob Ratanasuwanthawee, chairman of the executive committee, said first-half revenues were Bt1.485 billion, down 29 per cent on year. However, net profit was Bt381 million, up 349 per cent from a loss of Bt153 million a year ago, thanks to restructuring of its subsidiary.

Nuttaphob said the company had applied to the Central Bankruptcy Court to withdraw from the rehabilitation process, as RBT had already paid back its creditors. - The Nation.

Card for frequent flyers

Low-cost airline One-Two-Go has launched "CFU cards" for its frequent travellers, offering 11 tickets for the price of 10.

There are three types of CFU card: for corporate clients, families and university students. - The Nation.

FTAs boost US trade

Trade between the US and countries with which it has bilateral agreements increased last year, thanks to tariff exemptions, according to Apiradi Tantraporn, director-general of the Thai Trade Negotiations Department.

She said Australian-US trade had risen by 6 per cent, with the balance in favour of the US. The US-Chile Free Trade Agreement saw trade increase by 40 per cent.

The Singaporean-US FTA improved trade by 6 per cent, while the US-Bahraini FTA, effective from this month, has already shown encouraging signs. - The Nation.

LPN revenues, profit up

LPN Development Plc, a local leader in the construction of residential condominiums, announced revenues Bt1.94 billion and a net profit of Bt322 million for the second quarter, up 152.26 per cent and 160.38 per cent, respectively, on on year.

The company said it had continued strong growth in the quarter, having successfully carried out its "Cost Leadership" and "Speed" strategies to push corporate management to the highest level of efficiency.

However, LPN's gross profit margin decreased to 32.86 per cent from 38.32 per cent in last year's second quarter. This followed a construction-cost increase due to the rise in oil prices and interest rates. - The Nation.