Economy February 21, 2014 00:00

By The Nation

Thai Rung enters into special vehicle-making JV with Toyota

An unusual joint venture between Thai autoparts maker and leading contract vehicle assembler Thai Rung Union Car and Toyota Motor is now on track. 
It has brought the Thai company a step closer to its long-held dream of making the country’s first internationally recognised, domestically produced vehicle, Nikkei Asian Review reported yesterday 
Thai Rung and Toyota, the country’s biggest car producer, recently unveiled a plan to jointly build dump trucks, ambulances and other special-purpose vehicles in Thailand. 
Thai Rung will own 30 per cent of its new JV with Toyota. With initial working capital of US$1.9 million (Bt62 million), the operation is clearly just a toe in the water for both groups.
US slaps duties on Thai steel 
US Commerce Department has preliminarily found dumping of imports of certain oil country tubular goods from India, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, Ukraine and Vietnam, and no dumping of imports from Korea.
For the purpose of AD investigations, dumping occurs when a foreign company sells a product in the US at less than its fair value.
In the Thailand investigation, the sole mandatory respondent, WSP Pipe Co, failed to answer the department’s questionnaire and indicated that it would not be participating in the investigation. As a result, the company was assigned a dumping margin based on adverse inferences of 118.32 per cent. 
Because the petition contained only one alleged dumping margin, all other producers/exporters in Thailand also received a preliminary dumping margin of 118.32 per cent.
Fuji Electric invests in Tusco Trafo 
Fuji Electric Co recently completed a capital investment to take a majority stake in Tusco Trafo, headquartered in Samut Prakan, and the new company will be known as Fuji Tusco Co. 
The latest move by the power equipment and electronics manufacturer is part of the company’s overall growth plan to expand its electrical substation footprint in both the industrial and utility markets worldwide, and strengthen its position in the growing global transformer equipment space. 
Property Perfect plans 20 projects
Property Perfect plans to launch 20 new residential projects worth Bt23.18 billion to boost presales to Bt16 billion and revenue to Bt15 billion this year.
Last year, the company recorded revenue of Bt10.06 billion, down 22 per cent from 2012, chief executive officer Chainid Adhyanasakul said
Delta seeks acquisitions in Europe
Delta Electronics Thailand is negotiating acquisition of two related businesses in Europe, as a way to access new markets and create new products to penetrate the United States, said company director Anusorn Muttaraid.
It is believed that the deal will be finalised this year. Funding will come from internal cash flow, which at the end of 2013 stood at Bt15 billion.
For internal investments this year, the company has allocated between Bt500 million and Bt800 million to improve equipment and machinery.