Late News :Cooperatives face massive defaults on farmer loans
The Agriculture and Cooperatives Ministry plans to propose that the government provide a budget of Bt1.5 billion to offset losses agricultural cooperatives incur on defaulted loans to farmers.
Permanent-secretary Banphot Hongthong said yesterday that 24,352 farmers nationwide had loans with cooperatives. This year 3,902 of the loans have been classified as non-performing and the number of NPLs is expected to reach 20,450 next year. The ministry will try to settle the problem next month.
Carrefour expands to Phuket French hypermarket chain Carrefour will open its first branch in Phuket as part of the December 1 soft opening of Jungceylon, putting to rest speculation that the now-deposed Thaksin government's efforts to rein in the expansion of large retailers would affect the project. The opening was confirmed during an October 6 press conference at Jungceylon by Prawit Janyasittikul, deputy chief executive of Phuket Square Co Ltd, which is developing the project in the heart of Patong. "Construction of Jungceylon is now about 85-per-cent complete. It's a total of 75,000 square metres, of which about 70,000 are already reserved," said Prawait. "We have just signed with Indochine in Singapore to open an international pub and restaurant of about 3,200 square metres. It will be the first Indochine branch to open in Thailand," he said.
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