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Fragrant Property yesterday bought land on New Phetchaburi Road to develop a Bt3-billion condominium and follow up on the success of its Circle project.

Sales are expected to be strong when the condo goes on the market in a year, thanks to the completion by then of the Airport Rail Link, CEO James Duan said yesterday.

"We are studying details of the project but the value would not be less than Bt3 billion and the project is expected to be launched in mid-2010.

"So, we believe in the potential of the project, which will generate a good response among consumers similar to the first project.

"The new project will be developed under the Circle brand to promote the image of a condominium for the new generation with high technology to provide more convenience to today's lifestyles," he said.

Show your mettle with this steely read

Sahaviriya Group recently launched a cartoon book titled "Iron Mining University" to encourage the public to learn more about integrated steel manufacturing.

The book will offer a glimpse into the steel industry and the manufacturing of steel products, which surround people's everyday lives.

Readers will also gain a greater understanding about the major iron ore resources of the world through the group's plant at Bangsaphan in Prachuap Khiri Khan. 

PTT plans up Bt30 bn in bonds

PTT, Thailand's biggest energy company, plans to sell as much as Bt30 billion of bonds, with 3, 7 and 15 years of maturity, this month to fund investments and refinance debt. The bonds will pay coupons of between 3.2 per cent and 5.75 per cent, the statement said.

State-controlled PTT joins Agence Francaise de Developpement, the French government development agency, and Kasikornbank in selling bonds to Thai investors as benchmark borrowing costs fall. Subscriptions are between July 27 and July 30, according to the filing. Bangkok Bank, Krung Thai Bank and nine other banks and brokerages are helping to arrange the sales. - Bloomberg

More products to go on price control list

The Commerce Ministry plans to increase the number of products on its price control list amidst concern that rising production costs will affect consumers' living costs. There are currently 39 products on the price control list, mainly consumer goods for daily use.

Prapon Milintajinda, secretary to the commerce minister, said yesterday that manufacturers were shouldering rising production costs due to increasing oil and gas prices as well as the hike in excise tax on cigarettes and alcoholic drinks.

The ministry will also call a meeting with the Swine Raisers Association to discuss a reduction in the price of pigs in line with declining production costs. The association will be asked to reduce the pig price at the farm gate to Bt55-Bt56 per kilogram. This would bring down the retail price of pork to an average of Bt100-Bt110 per kilo, against the Bt130 quoted by some traders. - The Nation

Sena sets IPO price at Bt1.98

Sena Development will sell 175 million shares at Bt1.98 apiece, setting its initial-public-offering subscription period for July 16-17 and July 20. The shares will be tradable on July 28.

A source at Kim Eng Securities (Thailand), its financial adviser, said the price was 5.5-5.6 times above its 2009 earnings forecast, and below its fair value of Bt2.50-Bt2.60 per share.

Sena maintains its revenue forecast at Bt1.2 billion for this year, from Bt670 million last year, the source said. However, net profit could slow on lower gross profit margin, due to more penetration in the condominium market. - The Nation