Name recognition could fuel interest in Impact REIT, adviser says
Impact Exhibition Management's first real estate investment trust (REIT) worth
Bt20 billion, which will be introduced in the fourth quarter, should be warmly wel
comed, especially by individual investors, said Montree Sornpaisarn, CEO of Maybank
Kim Eng Securities (Thailand), a financial adviser and underwriter for Impact.
He commented on the Impact Growth REIT unit's allotment between institutional
investors and individual investors.
"If you talk about Impact, I am confident all people in Bangkok and upcountry know
well that Impact is a venue of exhibitions and concerts," he said.
"Compare this with Maybank Kim Eng. Even though we are the market leader in the
brokerage business, I'm not sure individuals know what Maybank is, even though it is
the largest bank in Malaysia. Or even the name Kim Eng - I believe some people may
think it is the name of a gold shop," he laughed.
Finance Ministry eyes higher lending rates
The Finance Ministry may allow financial institutions to charge interest over 15 per
cent for loans to clients in a "grey" area, aiming to reduce borrowing from loan sharks.
Permanent secretary Areepong Bhoocha-oom said the ministry would discuss this
with the Bank of Thailand. Banking law fixes the maximum rate at 15 per cent per
annum. That discourages financial institutions from lending to high-risk individuals, as
they cannot extract a higher rate to cover greater risks.
PTT braces for poorer financial results
Falling oil prices and volatile foreign-exchange rates will put pressure on the PTT
Group of Companies' performance this year, chief financial officer Surong Bulakul said.
"This year's results could be similar to or lower than last year's. Oil prices fell sharply
in the second quarter, while foreign-exchange rates were highly volatile. Oil prices have
just started to head up, to US$107 per barrel, because of the violence in Egypt. These
will not directly affect the company's fundamentals, but will have a psychological
impact," he said.
He noted that while approved investment projects would go ahead as planned, PTT
might reconsider some plans in the pipeline. The company has invested about Bt40 bil
lion so far this year.
PTT showed consolidated net profit of Bt12.3 billion in the second quarter, up 43 per
cent from Bt8.57 billion in the same period last year. Its first-half net profit rose only 5
per cent from Bt46 billion to Bt48 billion.
Banyan Tree to revive resorts in Europe, Americas
Banyan Tree Holdings, a Singapore-based operator of spas and resorts, is seeking to
expand its presence in Europe and the Americas amid signs that the economies in these
markets are recovering.
The company plans to revive projects in Spain, Greece and Mexico that it abandoned
after the 2008 global financial crisis. Banyan Tree has signed two contracts to run prop
erties in southern Spain, and is in talks to resume a couple of projects in Greece, chair
man Ho Kwon Ping said. He said the group saw Europe and America beginning to recov
"In the last five years, growth was almost 100 per cent driven by China. We had virtu
ally no inquiries coming out of the rest of the world. But now, in the last six to nine
months, we have seen a lot more interest in the Middle East, in the Americas."
Southern Europe has become an attractive tourist destination for Europeans after
the Arab Spring forced them to abandon holidays in Morocco, Tunisia and Egypt and
flock to Spain, the Canary Islands and Greece, Ho said. - Bloomberg
Emirates offers luxury private jet service
Emirates has launched a new luxury private jet service, in response to growing
demand for personal and luxury travel.
Providing a private charter service to most locations worldwide and beyond the
existing Emirates network, the Airbus 319 aircraft offers a new configuration with a high
level of comfort and service for up to 19 passengers. The Dubai-based airline says
Emirates Executive introduces many firsts, from private suites to a large multi-function?
al lounge area on board.
"Emirates Executive elevates the high standards and quality of Emirates that our
customers have come to expect, with the flexibility and luxury that can only be offered
by a private chartered flight," said Adnan Kazim, an Emirates senior vice president.
"We have seen an increasing demand in the private travel segment, especially in the
Middle East and Europe as well as in markets such as India, Russia and China. We are
looking to tap into this niche market with the high-quality of service and attention to
detail associated with Emirates."
Flights can be booked now on www.emirates-executive.com.