Economy April 11, 2014 00:00

By The Nation

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ATM users urged to beware of 'skimmers' as thefts rise

ATM “skimming” is on the rise but commercial banks are taking care of customers, said the Bank of Thailand (BOT).

The technique works by attaching a device to ATMs in a bid to steal personal information on the card, such as the four-digit password, and apply it to a fake card in order to steal cash.

“Since it is an act of theft, the commercial banks usually take care of their own customers,” BOT spokeswoman Dr Roong Mallikamas said.

Dr Roong explained that an ATM card fitted with an information chip could lower the chance of skimming but she urged users to be more cautious when using ATM machines.

She said the Bank of Thailand had regulated and set a target for commercial banks and retail shops that accept cards to be able to accept chipped card by 2015, and by 2016 all new cards should be issued with the chip technology.

The BOT spokeswoman urged ATM users to be on the lookout for a brochure box, which contained a camera to record pin numbers, and she advised people to change their password constantly or once they suspect that their information had been stolen or copied. – Erich Parpart, The Nation

Korean power plant ready in navanakorn industrial zone

Korea Midland Power Co has completed a 110-megawatt gas-fuelled combined-cycle power plant in the Navanakorn Industrial Zone in Pathum Thani.

It is the first time a Korean power-plant operator has entered Thailand’s soaring electric-power market that has been long dominated by Japanese players.

The project, worth 218.1 billion won (US$200 million), comes as KOMIPO – one of the six power-generation subsidiaries of state-run Korea Electric Power Corp – recently sought to expand its presence in overseas markets.

In order to get a competitive edge over Japanese companies, the Korean power-supplier created a strategic alliance with local partners Navanakorn Electric and Toyo-Thai Corp, in which KOMIPO invested 16.6 million won in 2012 and currently owns a 29-per-cent stake.

The alliance has also secured a power-supply contract with Thailand’s electricity office for the next 25 years.

During the period, KOMIPO alone is expected to log 62.5 billion won in net profit and 12.5 billion won through other consultative projects, according to Korean officials. – The Korea Herald/ANN

SET INDEx CLIMBS IN the first quarter of 2014

The Stock Exchange of Thailand reported that the SET index at the end of the first quarter closed at 1,376.26 – an increase of 5.97 per cent from the end of last year.

It recorded a trade value average of Bt30.81 billion a day, down 10.92 per cent from the last quarter of 2013 – or down 52.05 per cent on the same period last year.

The market capitalisation of SET recorded Bt12.2 trillion at the end of March 2014 – up 3.87 per cent from February – while the market capitalisation of the Market for Alternative Investment recorded Bt177.9 billion at the end of March.

That was an increase of 5.37 per cent on February.

The net worth for foreign investment was Bt20.71 billion at the end of the first quarter, despite a Bt14.17 billion net bought by foreign investors in the same period.

Listed companies in the capital market raised Bt17.84 billion in capital in the first quarter, a drop of 30.99 per cent on the same period last year.

That figure consisted of Bt8.44 billion from four new listed companies and Bt9.4 billion from the property fund and capital raised by listed companies in the secondary market.


Siam City Cement’s shareholders meeting yesterday approved to pay a dividend of Bt7 per share, in addition to a Bt8 interim dividend payment made in August 2013.

The total dividend for 2013 was Bt15 per share.