The US$200,000 (Bt7.4 million) plant will be located 15 kilometres along the Kampala Masaka Highway and is expected to create more than 100 jobs for skilled and unskilled Ugandans, The Monitor (Kampala) reported this week.

The investment is a joint venture with Smilephan Limited Partnership (SLP), a Thai cosmetics-maker.

SLP export executive Prapapan Srisuda said the factory would manfacture products for both local and foreign markets in Africa's Great Lakes region.

She said the raw materials for production would be imported from Thailand.

Globlex NGV stake

Globlex Holding Management announced yesterday that its subsidiary Asia Equity Venture would take a stake in NGV Car Centre Co Ltd, whose principle objective is joint investment in carrying out a public transportation business.

Asia Equity Venture will purchase 40 per cent of NGV Car Centre, which has registered capital of Bt1 million, from Watcharapan Tameyong for Bt400,000.

Bonanza awarded

The Bonanza Software Suite, a wealth-management package, recently won the prestigious TICA award for financial applications.

Bonanza leads the market for foreign-investment software packages with Bt1.2 billion of funds under management, equivalent to 55 per cent of Thailand's foreign reserves, the company said in a release this week.

Bonanza also received first prize from Her Royal Highness Princess Sirindhorn last year, the statement said.