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E-system for trade certification upgraded

The Foreign Trade Department recently adjusted its electronic service system for issuing certification on rules of origin for export goods in order to facilitate operations in the Asean Free Trade Area and under the Asean-Korea Free Trade Agreement.

The new system has been in force since July 1. Enterprises can use the new system by visiting edi.dft.go.th.

Ticon expands rentable warehouses upcountry

Ticon Logistics Park Co, a developer of warehouses and other facilities for lease in Thailand, has moved ahead with its plan to expand its warehouse-rental business to all regions of the country.

With an investment budget of Bt3.6 billion over three to five years, the company has started development of a logistics park in Khon Kaen and will then expand to Surat Thani and Lampang.

Construction of the three projects will add more than 300,000 square metres to Ticon's rental warehouse space.

Rentable space in regional locations will be available from the second quarter next year.

Ticon managing director Patan Somburanasin said the company had started securing land banks around Thailand since last year, comprising 173 rai (27.7 hectares) in Khon Kaen, 70 rai in Surat Thani and 162 rai in Lampang.

Patan said the land would house ready-to-use logistics warehouses to serve the fast-growing business and industrial sectors, which include consumer products, retail and modern trade, in the provinces after increasing regional spending and the full implementation of the Asean Economic Community in 2015.

Honda introduces new sport bike

AP Honda, the official distributor of Honda motorcycles in Thailand, has launched a new model in the sports-bike segment.

Featuring a bold design, the Honda CB300F comes with a liquid-cooled 286cc DOHC single-cylinder four-valve engine, PGM-FI (electronic fuel injection) system, anti-lock brakes and Pro-Link (mono-shock) rear suspension.

The model will be available in three colours: red-black, black, and white at Honda Wing Centres countrywide.

The suggested retail price is Bt130,000. The special introductory price between July and September is Bt126,000.

THAI EXPECTS TO BE IN THE RED THIS YEAR

Air Chief Marshal Prajin Juntong, chairman of Thai Airways International’s board, said the airline's board yesterday drafted a short-term rehabilitation plan by cutting expenses such as operating costs and overtime, which is expected to save Bt4 billion over the next six months.

In the meantime, the company will boost revenue by Bt3 billion through some new campaigns including special fares. But overall 2014 results are still expected to be in the red because of major losses during first six months.

He said the board also outlined a second recovery phase to begin in the second quarter of next year. This will include an organisational reshuffle as well as hiring more operational staff and replacements for retired managers. The airline is also seeking a new president and chief financial officer.



BOI board wants rethink of promotion plan

The BOI board yesterday rejected an investment promotion plan proposed by a working committee and ordered a review of the plan, which would include special benefits including tax privileges for industries locating in border economic zones.

Udom Wongviwatchai, secretary-general of the Board of Investment, said the BOI had proposed a strategic plan for investment promotion by adjusting the implementation period from five to seven years, from 2015 to 2021, to be in line with the 12th National Economic and Social Development Plan.

The key issues of the proposed plan include increasing the income level of the population so as to move away from the group of medium-income countries.



Correction

The story headlined "CMIM members double fund in bid to cushion risk of sudden crisis, spill-overs" published on July 18 contained some errors.

The Chiang Mai Initiative Multilateralisation (CMIM) fund was created in 2007 to help member countries that experienced financial crises after the Chiang Mai Initiative that was founded after the Asian financial crisis in 1997.

The recently revised CMIM plan, which included a rise in the International Monetary Fund de-linked portion from 20 per cent to 30 per cent, has been signed by all member countries but was only recently signed by Thailand because of the dissolution of Parliament last December.

The governor of the Bank of Thailand and an authorised representative of the Finance Ministry have now signed the new CMIM agreement and the revised terms are now in effect. The Nation regrets the errors.




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