Economy May 14, 2014 00:00

By The Nation, Bloomberg

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Solvay to build plant in rayong worth Bt900m

Solvay, a Belgium-based producer of soda ash and bicarbonates, recently hosted a stone-laying ceremony for the construction of Southeast Asia’s largest sodium-bicarbonate plant at Map Ta Phut Industrial Estate in Rayong.

At a cost of 20 million euros (Bt900 million), the plant is due for start-up in the first half of next year to supply its Bicar product range throughout the region. Bicar products are used in a variety of industries, including food, cosmetics and pharmaceuticals, and in industrial applications.

The new facility will have a total capacity of 100,000 tonnes per year. The plant will use Solvay’s new-generation Bicar production technology, which it says minimises waste generation, optimises energy recovery and maximises yield.

Solvay announced its plan to build the plant last year after the Board of Investment granted it full privileges in June.

This new project will be managed by Solvay Peroxythai, the company’s first new entity in Thailand in 26 years.


gold price dips again after 7.5% rally

Gold fell towards its lowest price in more than a week as investors weighed the US dollar’s strength against escalating tension in Ukraine.

Bullion for immediate delivery declined as much as 0.4 per cent to US$1,290.44 an ounce, according to Bloomberg generic pricing. The metal on Monday rebounded from $1,280.02, the lowest level since May 2, to end a four-day drop.

Gold has rallied 7.5 per cent this year, boosted in part by haven demand as tension rose between Ukraine and Russia. Rebels in |eastern Ukraine said they were |seeking to join Russia after disputed referenda as the government in Kiev was handed a deadline to pay for Russian gas to prevent a supply |cut-off. – Bloomberg


union mosaic plans Bt2-bn debenture issue

Union Mosaic Industry shareholders on Monday approved a debenture issue worth Bt2 billion.

Funds raised will be used as the company’s working capital and for investment.


sec suspends investment consultant

The Securities and Exchange Commission disclosed inappropriate behaviour to the general public and suspended approval of Pairoj Thongsuk, a former securities investment consultant of UOB Kay Hian Securities (Thailand), now working with AIRA Securities, for not recording securities trading orders and inappropriate submission of a trading order form.

From a routine inspection of UOB Kay Hian Securities (Thailand), the SEC found that Pairoj did not record a number of clients’ securities trading orders.

In this case, the SEC disclosed inappropriate behaviour from May 7 and suspended Pairoj from his duty as an approved securities investment consultant for six months, effective from May 14, 2014today.