Briefs

Energy Absolute beats IPO price in

Energy Absolute (EA) yesterday made a successful debut on the Market for Alternative Investment, as its share price gained 38.18 per cent over the initial-public-offering price. The stock closed at Bt7.60, compared with the Bt5.50 IPO price.

EA, a producer and distributor of biodiesel, diesel and glycerine and an operator of solar power plants, is the first company to start share trading this year.

CMO eyes Bt1.3 bn

Major event organiser CMO targets revenue of Bt1.3 billion this year, up from Bt1.1 billion last year, which will be contributed by its business expansion, according to Sermkhun Kunawong, chief executive officer of CMO Group.

Mazda gearbox plant

Mazda Motor Corporation will construct a transmission plant with an annual production capacity of about 400,000 units in Chon Buri province, representing an investment of 26 billion yen (Bt8.5 billion).

Operations at the new plant will commence in the first half of the fiscal year ending March 2016. It will supply automatic transmissions for Mazda vehicle-production facilities around the world.

Mermaid lands deal

Mermaid Offshore Services (MOS), a 99.99-per-cent-owned subsidiary of listed company Mermaid Maritime, has won a deal with a potential value of up to US$40 million (Bt1.19 billion) with China Offshore Oil Engineering (COOEC).

Mermaid Maritime is a subsidiary of Thoresen Thai Agencies, also a listed company.

The subsea-services contract will utilise MOS's specialised DP2 dive-support vessel, the MV Mermaid Endurer, along with a complement of additional equipment and personnel.

The contract with COOEC is scheduled to commence in March and last about six months.

AOT may extend applicant deadline

Airports of Thailand is likely to extend the application period for AOT president as only one applicant has responded before the deadline yesterday, a source said.

Only Pruet Boobphakam, a former executive of Thai Airways International, had submitted the application, the source said. Former AOT president Aniruth Thanom-kulbut was fired in October.

Bond issue

The Public Debt Management Office plans to issue Bt40 billion inflation-linked bonds in March. The 15-year bond's coupon rate will be set on March 5, office director-general Chularat Suteethorn said.

In 2011, the first inflation-linked bond issue was launched, to raise Bt30 billion, with 10 years maturity. .

Thailand is the first in Asean to issue such bonds, Chularat said. Krungthai Bank, Deutsche Bank and HSBC are the underwriters. |- The Nation

Asset injection

Thai billionaire Charoen Sirivadhanabhakdi, who is bidding to buy Fraser and Neave, plans to raise as much as Bt50 billion by injecting assets into two property funds.

Charoen's TCC Group will add Bangkok property assets, said Somchai Boonnamsiri, who heads Krung Thai Asset Management, which manages the funds. - Bloomberg



Demand for labour

A Board of Investment survey showed that in 2012 demand for new workers among companies winning investment privileges hit 254,569 as they planned 2,131 projects.

In addition to 156,877 workers with Prathom 6 to Mathayom 6 education, they also needed 48,705 technicians, and 34,220 with a bachelor's degree or higher.

Output boost

Siam Kubota, a leading Japan-based manufacturer of small diesel engines for agricultural use, posted 30-per-cent growth to Bt40 billion in sales last year, thanks to the booming local agricultural sector driven by the government's rice-pledging policy.

President Hiroshi Kawakami said that the company would invest Bt900 million this year in the expansion of its manufacturing capacity.

Tourist boom seen

Thailand's tourist arrivals are expected to rise 10 per cent from last year to 24.5 million in 2013, thanks to the Kingdom's unique hospitality and diversity of tourist attractions, according to Kasikorn Research Centre.

Thailand should also benefit from greater global economic stability and from more flights by airlines. |- The Nation