Islamic bank tops panel remunerations
The Islamic Bank of Thailand provided Bt40 million in remuneration to its committees, the highest among state-run banks, in 2012, according to the Ministry of Finance. Most of the state banks provided no more than Bt10 million per year in remuneration.
The Government Lottery Office provided the highest remuneration to its committees among non-bank state enterprises. Its expenses for executives and remuneration to its committees totalled Bt720,000 in 2012, while travel expenses and meeting allowances totalled Bt60.38 million.
true upgrade eyed
Moody’s Investors Service has placed on review for upgrade the “Caa1” corporate family rating of True Corporation, as well as the “Caa1” corporate family and senior unsecured bond ratings of its consolidated subsidiary, True Move Co.
The rating actions follow True Corp’s announcement on 9 June Monday that it plans to raise additional capital funds of about Bt65 billion through a rights offering to its existing shareholders and a private placement to China Mobile. This transaction, if successful, would help the company to improve its leverage significantly and restore its equity base, said Yoshio Takahashi, a Moody’s assistant vice president and analyst.
‘NO BLACKOUTS’ IN SOUTH
Thailand’s South will not see blackouts when the Malaysia-Thailand Joint Development Area shuts down for an overhaul from tomorrow to July 10, the Energy Ministry promises.
Suthep Liumsirijarern, permanent secretary of the ministry, said yesterday that if demand is greater than expected, the Electricity Generating Authority of Thailand and Provincial Electricity Authority would alternately launch rolling one-hour brownouts. Hospitals and other vital functions would be spared any power stoppages.
high hopes for expo
The 31st “Thailand International Motor Expo” is expected to witness 50,000 car orders in response to the auto industry’s recovery during the final quartet of this year, said the fair organiser’s chief, Kwanchai Paphatpong.
“The Motor Expo this year, which will be held at Impact Muang Thong Thani’s Challenger from November 29 to December 10, is also expected to draw more than 1.5 million visitors, which could bring spending at the fair as high as Bt60 million,” he said.