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Thai Beverage, Thailand's largest brewer and distiller, said profit in the third quarter had risen 12 per cent as interest payments declined and sales grew after the company raised prices following tax increases.

Net income rose to Bt2.2 billion or Bt0.09 a share in the three months ended September, from Bt1.93 billion or Bt0.08 a share a year earlier, the Bangkok-based company said in a Singapore Stock Exchange filing yesterday. - Bloomberg

New pipeline raises prospects

The Energy Ministry is confident of completing the power projects to ensure energy security, following the full completion of the third natural-gas pipeline and more gas reserves found in Burma.

Minister Wannarat Charn-nukul said after a meeting yesterday that the third pipeline would increase the domestic supply to 3,000 million cubic feet per day, well over the daily demand of 2,835. PTT Exploration and Production also reported expected gas reserves of 1.38 trillion cubic feet from 13 exploration blocks in Burma, of which 240 million cubic feet a day would be shipped to Thailand starting in 2013.

He noted that while domestic gas reserves could cope with demand until 2026, overseas gas projects as well as quests for other types of energy like nuclear assured national energy security.

As the Electricity Generating Authority of Thailand confirmed the scheduled completion of the new power plants, the ministry reported that Gheco-One, one of the four independent generators, had already started plant construction. Two more have already signed power-purchase agreements with Egat while waiting for environmental-impact assessment. Egat is also negotiating power price with National Power Supply. - The Nation

Could be worse, says Glow

Glow Energy is crediting cost-saving initiatives for the tiny drop in its normalised third quarter net profit amid adverse macroeconomic circumstances.

At Bt3.3 billion, normalised net profit dropped only 1.36 per cent year on year.

CEO Esa Heiskanen said this year's net earnings should be in line with last year's, thanks to the baht weakening in the last few months, which should reduce the year-on-year strengthening of the currency to only 5 per cent.

That would limit the negative earnings impact of the previous currency appreciation to only about Bt170 million. Last month's fuel tariff (FT) increase of 14.85 satang a unit will also alleviate the effect of the temporary margin reduction, estimated at about Bt400 million for the year to date, resulting from higher fuel costs and a lower than expected FT.

Glow's co-generation sales continued to improve in the third quarter, with increases of 4.7 per cent in electricity sales and 0.8 per cent in steam sales. Significant progress is being made in signing up new sales contracts for the new 115megawatt and 382megawattequivalent co-generation expansions. - The Nation

Polishing is a sticking point

Siripinyo Rice Mill wants government assistance to solve its liquidity shortage on Tuesday.

Approval of financial support will allow it to pay debts to farmers.

Pichet Tonitiwong, owner of the mill, said it had asked the Finance Ministry for Bt68.7 million for polishing. The ministry offer of Bt43.5 million will not let it polish sticky rice. it said. - The Nation

Energy-conscious hotels

Siam City Hotels & Resorts' three hotels are winners of the TEM (Total Energy Management for Hotels) Award from the Energy Research Institute of Chulalongkorn University, the Energy Ministry and the Tourism Authority of Thailand.

The award-winning hotels are the Siam City Hotel in Bangkok and the Siam Bayshore Resort & Spa and the Siam Bayview Hotel, both in Pattaya.

To pass evaluation and inspection, all replaced traditional chiller systems with new-generation air-conditioning systems and switched from bunker oil to environmentally friendly biodegradable biodiesel for water boilers. The hotels also introduced energy controls to reduce energy use to levels that will least harm the environment. - The Nation