briefs

HSBC names new head of global markets

HSBC has announced the appointment of Guil Silva as head of global markets and Thailand treasurer, effective immediately. Silva succeeds Panya Chanyarungrojn, who retired after being with the bank since 2004.

Silva joined HSBC in 2001 and worked in London and Madrid as an interest-rate trader and in institutional as well as corporate sales, before becoming head of global markets for Iberia in 2009.

His new appointment is part of the strategy to expand HSBC's franchise in faster-growing emerging markets and further strengthen the links between its European and Asia-Pacific businesses.

Amway sales up 10%

Amway Thailand last year enjoyed an increase of about 10 per cent in sales to Bt17 billion, with more than 70 per cent of sales volume from health and beauty products.

Frankfurt approves listing

The Frankfurt Stock Exchange has approved trading in Energy Earth's common shares under the symbol "1EE".

According to the company's filing to the Stock Exchange of Thailand yesterday, as part of its dual listing, its existing common shares to be traded are not more than 49 per cent of paid-up registered capital.

The company cannot bring NVDR (non-voting depository receipt) shares to register with the Frankfurt Stock Exchange because Thai NVDR regulations only allow such shares to invest in registered securities on the SET.

Trading on the Frankfurt Stock Exchange runs from 8am-8pm Central European Time or 2pm-2am Bangkok time and the trading system is ordinary.

Dusit, Vilailux join forces for new Khao Yai hotel

Fresh on the heels of a project launch in Nairobi, Kenya, and a joint-venture announcement that will see 5,000 hotel rooms developed throughout China by 2020, Dusit International brings its hotel-management expansion efforts closer to home with the development of a dusitD2 hotel in Khao Yai.

The 79-room hotel, scheduled to open in the fourth quarter of 2014, will be part of Phuphatara Khao Yai, a residential development by Vilailux Development Co. Owned by the major shareholders of telecommunications firm Samart Corporation, the company plans to build villas and condominiums in addition to the hotel in Nakhon Ratchasima's flourishing Khao Yai area. It aims to have at least three hotels.

DusitD2 Khao Yai will be managed and operated by Dusit International. Of the villas and condominiums to be built at Phuphatara Khao Yai, several will be part of a leaseback rental pool programme.



3 PTT units win TQC Awards

PTT's gas, oil and international-trade businesses won recognition at the Thailand Quality Awards 2012.

The three businesses reaped scores above 350 points, enough to qualify them for the Thailand Quality Class but too low to win the highest honour - the Thailand Quality Award.

In 2006, the Rayong gas-separation plant and in 2010 the natural-gas transmission line won the highest award.

PTT president Pailin Chuchottaworn yesterday attributed the awards to continued commitment in growing the group towards excellence.



Charoen holds 57% in F&N

Tycoon Charoen Sirivadhanabhakdi's combined stake in Fraser and Neave hit 57 per cent as of February 1. This excludes the 15-per-cent stake Kirin Holdings plans to sell to

his group.

His offer for the Singapore conglomerate was to be announced unconditionally yesterday.

Charoen's group now holds 821.56 million shares, after the sale of 1 million shares from Jorgen Bornhoft, Matthew Kichodhan and Pramod Phornprapha on Friday.



Top TTA exec

Chalermchai Mahagitsiri, a son of businessman-cum-politician Prayudh, as Thoresen Thai Agencies's new executive vice chairman, will play an active role in setting a strategic direction for investment, risk profile, human resources and public affairs.

Chalermchai also serves as acting chief of TTA's oil and gas services subsidiary, Mermaid Maritime, and the parent firm's coal-logistics business, Unique Mining Services. He assumed his new post at TTA on Friday.



Egat plant deal

The consortium of Alstom (Switzerland), Alstom (Thailand) and Sumitomo Corp has won a Bt15-billion deal to construct a second generator for the Electricity Generating Authority of Thailand's North Bangkok Power Plant.

The 850-megawatt combined thermal generator will commence commercial operations in July 2016, Egat governor Sutas Patamasiriwat said yesterday.



Rail on agenda

Transport Minister Chadchart Sittipunt said yesterday that French Prime Minister Jean-Marc Ayrault would discuss technical coordination on the high-speed-rail project during his visit to Bangkok.

This will include the transfer of technical know-how and exchange of training staff and activities at the same level of cooperation as between Thailand and China and Thailand and Japan. However, it will not have any effect on the bidding for the project.



Refinancing plan

The Finance Ministry will propose to the Cabinet today a plan to refinance foreign debt worth Bt34.21 billion of some state enterprises that have been guaranteed by the ministry.

A ministry source said that as part of the plan, the ministry would borrow money to repay the debt for these state enterprises.

Of the total, Bt183.29 million is owed by the State Railway of Thailand to the French and German governments.