It cited a condition that the bank is not obliged to pay interest for a period when it does not make a profit. Also, the central bank requires it to ask for approval to pay interest on debt instruments if it posts a net loss.

Earlier, Moody's Investors Service downgraded TMB Bank's hybrid rating from Baa2 to B1 on concerns that the bank will not pay interest.

THAI boost

Thai Airways International president Apinan Sumaseni said the airline's number of travellers - mainly from Korea, Japan and China - had increased since Thailand's political picture became clearer.

He also added that to mark World Environment Day, from next month THAI would produce biodiesel with used vegetables from its kitchens, estimated at 4,000 litres a month, for use in food transport vehicles and boilers.

THAI, which has applied for a licence, expects to produce 300 litres of biodiesel a day at Suvarnabhumi Airport, with a plan to increase the capacity to 1,000 litres.

Plain sailing

Boathouse Hua Hin, a developer of a luxurious villa and condominium project in Cha-am and Hua Hin, expects to achieve revenue of Bt2.4 billion this year, more than double last year's figure of Bt1 billion.

Managing director Praphaisith Tankeyura said that over 40 per cent of the one-bedroom units had already been reserved.

Construction started in 2005 on the Bt5-billion project, which will be completed within the next two years.

New CEO

Grand Asset Development's board of directors announced yesterday the appointment of Markland Blaiklock as chief executive officer.

Blaiklock will be responsible for implementing the firm's business plans and day-to-day operations.

Datascan bid

Malaysian company Datascan Bhd is looking at an aggressive growth strategy that may include setting up dedicated offices in new and existing markets as part of its international expansion.

Chief executive officer Danny Leong said: "For some of the countries, we are looking at whether we should have a direct presence there."'

Its focus will be on countries like Thailand, Indonesia, China, the Philippines and also the Middle East. 

VN scheme

Vietnam Prime Minister Nguyen Tan Dung has issued a decree to grant foreign businesses without a physical presence the right to engage in import and export activities.