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Published on November 8, 2007

In a filing to the Stock Exchange of Thailand yesterday, the company said it would hold a 100-per-cent stake and invest Bt100 million in Thai Agri Power. It will finance the investment with working capital and loans.

The new company, now under the registration process, will be on Theparak Road in Samut Prakan's Bang Phli district.

"The investment will stabilise our use of energy and electricity in line with the government's energy-saving and environ-mental programmes," said managing director Kittipong Leelayouva.

TAF's net profit in the third quarter dropped 21.6 per cent year on year, from Bt37.8 million to Bt137.1 million. Its nine-month net profit of Bt349 million also represented a drop of 2.2 per cent from the same period last year.

The company contributed the quarterly decrease to the stronger baht. In the third quarter last year, the baht was 38.19 against the US dollar, while it was 34.57 this year. It also witnessed a 10.2-per-cent increase in sales promotion costs.

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phuket property

Korean hopes to invest Bt2 bn

South Korean businessman Lee Wang-il wants to invest Bt2 billion in a condominium, villa and marina to be built at Layan Beach in Phuket.

He met Niran Kalayanamitr, the resort-island's governor, on Monday to seek advice.

The 50-rai marina would be the largest Korean investment on Phuket, Niran said after the meeting. It will be developed by Puvana Phuket.

Niran also said that Lee was also looking at long-term developments in Phang Nga.

 - Phuket Gazette

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finance on tour

Bangkok to host ATIC convention

Bangkok is among seven cities chosen to host the Asia Trader & Investor Convention (ATIC) series, the region's fastest-growing financial-services convention.

Shenzhen in China will kick-start the series from November 30 to December 2 while Bangkok will host it on January 12-13, followed by Bombay, India, on April 12-13, Singapore on March 1-2 and Kuala Lumpur on March 22-23. Vietnam will host the event in May before the final leg in Tokyo a month later.

Themed "Empowering Thai Investors with Investment Knowledge", ATIC in Bangkok - organised by the NextVIEW Group - is expected to welcome more than 15,000 delegates and visitors, representing retail investors, active traders, market professionals and novice investors.

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aviation sector

Oman Air to service Kingdom

Oman Air, the national carrier of the Sultanate of Oman, will operate five direct flights a week between Muscat and Bangkok from November 28.

With the inauguration of the route, the airline will be operating 25 destinations.

 CEO Ziad Bin Karim Al Haremi said the Bangkok service was in response to demand for direct and reliable services between Muscat and the Asia-Pacific region. Increasing economic relations between Oman and Thailand have resulted in a marked increase in business and tourist traffic between the countries, he said.

Oman Air expects an initial load factor of 70 per cent for the route.

The Nation