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Vehicle sales see 7th monthly decline in Nov

A total of 93,483 vehicles were sold in November, down 36.9 per cent from the same month last year and the seventh consecutive monthly plunge.

Passenger vehicles saw the largest drop in sales at 48 per cent to 40,439 units, while 53,044 commer

cial vehicles sold, a 24.8-per-cent decline.

Sales figures in the first 11 months dropped by 5.8 per cent year on year to 1.21 million units, according to the data compiled by Toyota Motor Thailand.

SET adds Construction Services

The Stock Exchange of Thailand is adding a Construction Services sector under the Property and Construction industrial group, as construction services differ from property-development companies in terms of business type, customer group as well as revenue recognition.

The Construction Services sector will comprise those companies engaged in constructing residences or related units, including interior services, as well as |companies providing services, and advisory services, for construction projects, including related engineering work or design.

The SET will transfer 19 listed companies from the Property Development sector to the Construction Services sector effective from January 2.

SMC mortgage purchases

The state-owned Secondary Mortgage Corporation (SMC) purchased Bt4.37 billion worth of housing loans from commercial banks this year, higher than its target of Bt4 billion, according to its statement.

Last year, SMC purchased Bt3.25 billion worth of housing loans.

SMC estimated that its total assets would end the year at Bt9 billion, expanding by 67 per cent, with non-performing loans (NPLs) of 3.5 per cent. Operating profit is expected to be Bt57 million, for which the corporation has set a loan loss provision of Bt29 million; as a result, its net profit should be reach Bt28 million, a jump of 183 per cent from 2012.

Thai Oil setting up SPP unit

Thai Oil's board of directors has approved establishment of an affiliate, TOP SPP Co, with registered capital of Bt3.5 billion but paid-up capital of Bt875 million, to operate two small power plants (SPPs).

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