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Mortgages top transactions at Money Expo Korat

The eighth "Money Expo Korat", which ended on Sunday, recorded about Bt10 billion in transactions, led by housing loans worth Bt7 billion, and attracted more than 200,000 visitors.

Santi Viriyarangsarit, editor of Money & Banking magazine and president of Money Expo, said housing loans remained the most popular product, drawing 2,700 applications, representing Bt7 billion, followed by loans to small and medium-sized enterprises of around Bt1.1 billion and personal loans of Bt200 million. The amount of investment in mutual funds was Bt480 million, similar to that for deposits and bonds at Bt490 million. Investment through insurance products at the fair was more than Bt400 million, and 1,400 accounts were opened for stock trading.

"The economy in Korat [Nakhon Ratchasima] and nearby provinces in the Northeast has been expanding, resulting in more transactions at the event. Apart from mortgages, visitors paid attention to financial investments and insurance including, financial planning with banks," Santi said.

He added that new groups of visitors attended this event, especially individual farmers, who brought equipment as collateral for loans.


Lucky draw at Royal Garden Plaza

Royal Garden Plaza Pattaya celebrates its 25th anniversary this year, and has announced a promotional campaign to mark the occasion.

From now until October 24, customers purchasing goods from any Royal Garden Plaza outlet with a combined receipt valued at a minimum of Bt300 will be eligible for a lucky draw. More than Bt2.5 million worth of prizes are on offer, including iPad Minis, gold necklaces, and the grand prize of a 2014 Mini Countryman.

The campaign kicks off today and runs until October 23 at the Information Counter, Royal Garden Plaza Pattaya, ground floor.


AIA Thailand reports strong results

AIA Thailand has announced a strong set of results for the first six months of its fiscal year ended May 31. The company reported a 21-per-cent increase in value of new business to Bt5.27 billion compared with the first half of fiscal 2013, while annualised new premiums totalled Bt8.321 billion.


Win a trip to Sri Lanka tea garden

Evolution Capital has launched a campaign to celebrate the second anniversary of The Coffee Bean & Tea Leaf coffee houses in Thailand.

The campaign features a lucky-draw titled "Experience the Finest Teas in the World". Two pairs of winners will enjoy an exclusive trip to one of the world's finest tea plantations, "Nildalukanda" in Sri Lanka.


New Mc brand targets young girls

Mc Group has expanded its product line with the launch of the Mc Mini Girl brand, following the success of Mc Mini for boys.

Sunee Seripanu, the board chairman of Mc Group, said Mc Mini Girl targeted girls between six and 12 years old. It is part of the group's effort to widen its sale channels to cover all genders and ages.At present, Mc Group presents various brands, including Mc, Mc Lady, Bison, Mc Mini for young boys, The Blue Brothers and mc mc.

This year, the company expects sales to grow by 20-25 per cent, thanks to the market recovery since the second quarter of the year. The company is also expanding into Myanmar.


Foodpanda announces financing round

Foodpanda, together with its affiliated brands Hellofood and Delivery Club, has announced another financing round of US$60 million (Bt1.9 billion) from a group of investors, including various existing investors, Falcon Edge Capital and Rocket Internet AG.

Since its launch in 2012, Foodpanda/Hellofood has raised more than $100 million. Recently, the Germany-based company acquired competitor Delivery Club, making it the leading food-delivery marketplace in Russia.


SEC relaxes rules on |derivatives investment

The Securities and Exchange Commission now allows mutual funds for accredited investors (AIs) to make unlimited investments in derivatives.

Vorapol Socatiyanurak, SEC secretary-general, said the Capital Market Supervisory Board had approved the relaxation of rules applicable to mutual funds for AIs (institutional and high-net-worth investors).

Although there is no investment limit, however, the mutual funds must comply with other rules regarding derivatives and such investments must be managed with due care. The maximum derivatives investment set by the fund must be clearly stated in the prospectus together with proper risk management.

In addition, stress tests must be conducted, while contingency plans must also be prepared.

Mutual funds for AIs setting maximum limits of derivatives investment exceeding 100 per cent of net asset value will be classified as high-risk products and subject to additional regulations to mitigate risk of mis-selling. For instance, a description of the worst-case scenario for investment loss must be provided and records on giving advice to clients must be kept.

Thaicom Q2 profit up 162%

Satellite operator Thaicom earned consolidated revenue from sale of goods and rendering of services for the second quarter of this year of Bt2.449 billion, up by 37 per cent year on year, with a consolidated net profit of Bt498 million, an increase of 162 per cent.

Suphajee Suthumpun, chairman of the executive committee and chief executive officer, said the main growth contributors were the broadcast and broadband industries, both in Thailand and abroad.

Thaicom has also successfully proceeded with its strategies to support the growth of the broadcasting industry by providing more satellite capacity with Thaicom 6, which commenced full services early this year.

Thais cling to mobiles

Asian nations are the most attached to mobile devices, according to a Global Hotels.com survey, with Thailand coming in first in the world.

A huge majority - 85 per cent - of Thai travellers admitted to being inseparable from their devices. South Korea trailed close behind in second with 78 per cent, followed by Japan and China.

Singaporean travellers ranked fifth worldwide among those least willing to give up their mobile devices even while holidaying, according the global survey released last week of 2,495 respondents in 28 countries in July.

AP board approves JV

AP (Thailand)'s board of directors yesterday approved a joint venture with Japanese giant Mitsubishi Estate Group to develop their fourth condominium project worth Bt3.3 billion.

As the two partners prepare to sign the deal on August 18 Monday, with sales slated to start in mid-October, AP aims to continue pursuing sustainable growth by applying knowledge gained through the MEC partnership to its own organisational development and towards the larger goal of improving residential development in Thailand, CEO Anuphong Assavabhokin said.

AP (Thailand)'s board of directors yesterday approved a joint venture with Japanese giant Mitsubishi Estate Group to develop their fourth condominium project worth Bt3.3 billion.

As the two partners prepare to sign the deal on Monday, with sales slated to start in mid-October, AP aims to continue pursuing sustainable growth by applying knowledge gained through the MEC partnership to its own organisational development and towards the larger goal of improving residential development in Thailand, CEO Anuphong Assavabhokin said.




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