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Published on November 23, 2007

Kurujit Nakornthap, deputy permanent secretary, told a seminar yesterday that the government was encouraged to launch the second phase due to the success of the first phase when 75 companies were awarded subsidies of up to Bt2 million each.

While only Bt43 million was spent, their projects promised Bt400 million in energy savings a year. During the one-year phase, 160 companies applied for privileges.

The second phase should draw at least 140 companies, including those in the provinces, and produce savings of Bt500 million per year, he said.

BOT bonds

The Bank of Thailand said it could sell around Bt60 billion of the total Bt80 billion of saving bonds made available yesterday.

The two-year and four-year savings bonds were issued to the public to refinance debts of the central bank's Financial Institutions Development Fund.

Oakwood debut

The world's largest provider of serviced apartments, Oakwood, will tomorrow open the Oakwood Residence Sukhumvit 24 to cope with rising demand.

The Sukhumvit property marks the first of four new Oakwood developments in Bangkok to be unveiled by Oakwood Asia Pacific, which plans to open 19 new properties in Asia by 2009.

"Many corporate and leisure visitors are now choosing serviced apartments instead of hotels," said John MacNeill, general manager of the Oakwood Residence Sukhumvit 24.

The Nation