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Published on January 3, 2008

The FTI is preparing information on the economy in its proposals for the new government. Initially, the government should concentrate on further investment in mega-projects which will boost the economy through higher employment.

Federation president Santi Vilassakdanont said yesterday it was also necessary to convince foreign investors through the Bank of Thailand's financial measures and Foreign Business Act. In addition, the establishment of a dollar fund would encourage local investors to explore overseas business opportunities.

The FTI also said that tax-restructuring policy to support industry should be broader than merely focusing on sector by sector.

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'Cut breeder hens'

The Association of Hen-Egg Farmers, Traders and Exporters warned farmers yesterday to reduce the number of breeder hens, as the number rose by 10 million last year.

Continued oversupply would affect the industry, as prices would fall as a result.

The number of breeder hens increased from 45 million hens in 2006 to 55 million last year.

The increase will raise egg production to 30 million per day, which will lead to an oversupply problem.

Current egg consumption is around 25 million eggs per day.

Narong Jiemjaibunjong, president of the association, said farmers would face losses due to higher production costs mainly from rising animal-feed prices.

He suggested farmers look to the export market to soak up the egg surplus.

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PTTAR to invest 

PTT Aromatics and Refining (PTTAR) plans to invest more than US$1 billion (Bt33.73 billion) over the next four years, CEO Permsak Shevawattananon said yesterday.

The investment will be aimed mainly at expanding downstream products and improving the quality of petroleum products.

PTTAR - formed from the merger of Rayong Refinery and Aromatics Thailand and which began trading on the bourse yesterday - expects net profit to be similar to last year, Permsak said. - Dow Jones Newswires

Red Line bidding

The bidding for the construction of the Red Line mass-transit route between Bang Sue and Rangsit will start in March.

Government Spokesman Chaiya Yimwilai yesterday said the Cabinet had agreed the schedule so that construction could start by September.

The State Railway of Thailand will operate three mass-transit lines: Bang Sue-Taling Chan, Bang Sue-Rangsit and Bang Sue-Makkasan-Huamark.

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Ford stake sale

Ford Motor's full-equity stake in Ford Malaysia will be transferred to Sime Darby via a joint-venture dissolution.

However, US-based Ford will continue to work closely with Sime Darby as the exclusive importer and distributor of Ford vehicles in Malaysia.

Ford Malaysia is a joint venture between Ford Motor and Tractors Malaysia, a unit of Sime Darby.

The company sells Ford models such as the Escape, Ranger, Everest and Focus.

Ford Malaysia managing director Timothy Tucker yesterday confirmed via e-mail that Sime Darby had offered to take over Ford Motor's 49-per-cent stake in the joint venture.

The Star, Asia News Network