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Green-light for share-swap

Property Perfect Plc's board of directors has approved to swap a 20 per cent share of the company for a 75 per cent stake in Thai Property Plc, which holds a 40 per cent stake in Grand Asset Hotels and Property Plc.

Property Perfect CEO Chainid Adhyanasakul said that following the deal the company would become a top-four listed property firm.

Chainid said the company had sold undeveloped land worth Bt3.5 billion to reduce its debt-to-equity ratio from 1.9:1 to 1.3:1 in the second quarter.

Thai Property Plc is undergoing debt rehabilitation, while Grand Asset Hotels and Property recorded Bt2.2 billion in revenue and a net profit of Bt472.68 million in the first quarter.

Asean hub for organic farming

Thailand has set a goal of becoming Asean's centre for organic agricultural production and trading by 2020 by encouraging farmers to grow non-chemical products as well as developing products and packaging to serve world market.

Under the plan, Thailand aims to increase its organic food exports by 10 per cent a year from Bt3.1 billion a year at present.

Malee Chokelumlert, inspector-general of the Commerce Ministry, said that the ministry had drawn up a strategic plan to promote organic agricultural in order to increase the export value and help farmers ensure sustainable growth while providing health products.

Under the ministry's three-year strategy, it will firstly emphasis encouraging farmers and traders to focus more on organic farming and production.

Secondly, it will set up a database online for collecting information about organic farming so that it can be trace from planting to the dinner table.

Thirdly, the ministry will support trading of organic products in local and overseas markets.

Fourthly, it will propose that the government launches a policy or support measures including financial funding or tariffs for farmers and enterprises.

WC box buyers told to act fast

RS customers have until tomorrow to return their Fifa World Cup set-top box and receive a refund for the box and subscription fee to watch live telecasts of the World Cup.

To receive the full refund of Bt1,590, they must return a complete set of the box - receiver, remote controller and audio-visual cable - to the company's warehouse in Rangsit between 10am and 4pm.

If they cannot go to the warehouse, they can return the box by parcel post by tomorrow.

The refund will be transferred to their bank account later.

Customers who paid Bt299 to watch the Brazilian event via Sunbox can also get a refund by identifying the smart-card number of their set-top box. The refund will be completed in 15 days.

For those customers not wishing to return their box for a refund, all benefits of the RS exclusive content-bundled "World Cup boxes" remain unchanged. They can watch live feeds of all the matches, replays of matches and special programmes related to the tournament as well as 380 live Spanish La Liga matches next season.

CPF APPEALS TO CARREFOUR

Charoen Pokphand Foods is clarifying the situation with French cash-and-carry chain Carrefour, which recently suspended purchases of seafood products after reports of slavery on some Thai trawlers supplying fish to Thai fishmeal producers.

CPF's exports to Carrefour were worth US$4 million (Bt129 million), or 0.03 per cent of its total revenue of $12 billion, last year.

CPF, a leading farmer of shrimp and producer of shrimp feed, claims that it opposes slavery and forced labour in any shape or form. For two years, the company has been strongly pushing forward a fisheries improvement plan in the Gulf of Thailand and the Andaman Sea, which specifically aims to assist Thailand as a nation to solve labour problems throughout its seafood supply chain.

TAX REVENUE DOWN 6.4%

Tax revenue for first eight months of this fiscal year is 6.4 per cent below target because of the economic slump amid the political unrest.

The government collected Bt1.36 trillion, which was Bt93.29 billion below budget. However, collections should begin to improve as the economy recovers in the remaining months, Somchai Sujjapongse, director-general of the Fiscal Policy Office, said yesterday.


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