briefs

Eureka price jumps 200percent from IPO

Eureka Design, involved in automotive-machinery design, saw its shares jump by 200 per cent from yesterday's initial-public-offering price in its debut on the Market for Alternative Investment.

At the close of trading on the MAI, the share price ended at Bt6.75 from the IPO price of Bt2.25.

Eureka is the third company to start trading this year on the local bourse. It designs and produces assembly and testing machines, including jigs and fixtures for use in the automotive industry. Its clients include Toyota, Honda, Yamaha, Isuzu, Suzuki, Mitsubishi, and Tier 1 automotive-parts makers.

DTAC-Ericsson deal

DTAC Network, a subsidiary of Total Access Communication (DTAC), has signed a contract with Ericsson for establishment of a third-generation cellular network on the 2.1-gigahertz spectrum.

DTAC Network is one of the three holders of 2.1GHz spectrum licences. The 3G roll-out has already started, and once completed consumers can expect a superior experience when browsing the Internet on their smart phones or downloading movies at much higher speeds.

Jon Eddy Abdullah, CEO of DTAC, said: "We are pleased to roll out 3G services and we’re convinced it will lead to many advantages not only for our users, who will enjoy better and faster access to information through our high-speed network, but will also foster entrepreneurship and active development among mobile operators, vendors, application developers and content producers. It will also contribute to national economic and social development."

Joacim Damgard, president of Ericsson Thailand, said: "This contract is important, not only for Ericsson because we are expanding our footprint in the country, but also in terms of realising the 'Networked Society'."

BBL bond issue

Bangkok Bank’s board of directors on Thursday approved the issuance of bonds in an amount not exceeding Bt150 billion or its equivalent in other currencies, to be offered for sale in domestic markets and/or in foreign markets.

The resolution is to be proposed to the shareholders' meeting for consideration.

The board also approved a dividend payment based on the operating results for 2012, to be paid at the rate of Bt6.50 per ordinary share, a part of which was paid as interim dividend at Bt2 per ordinary share last September 21. The remaining amount will be paid on May 8.



Event for volunteers at CentralWorld

This weekend, CentralWorld's front ground is being turned into a playground for volunteers from more than 100 organisations.

Hosted by the Grand Alliance for Thailand Development, the event aims to enlist volunteers under six social themes including quality of life for women and families as well as a sustainable environment and community. Volunteering exhibitions will be featured as well as stage performances from volunteering celebrities, and a fair offering goods from social enterprises nationwide.

Nation Multimedia Group will join the event, with Krungthep Turakij Media mobilising help from 14 youth groups for the Anti-Corruption Organisation of Thailand's watchdog campaign, including D Ambassador, U-Rights, Change Fusion and AM CIZ. At 6pm today, these volunteers will launch the "Give Me Your Hands for the Watchdog" campaign, to win more public support against corruption.



StanChart in Myanmar

With a representative office in Myanmar, Standard Chartered Bank has established its presence in all 10 ASEAN countries, allowing it to offer a full range of services ahead of the ASEAN Economic Community.

Lyn Kok, president of the British bank's Thai unit, said yesterday that the Myanmar office would satisfy customers wanting to do business there and complement that country's desire to rejoin the global economic system.

Six main industries that are drawing foreign investment into Myanmar are oil and gas; telecommunication; tourism; agriculture and food; consumer products; and construction materials.

Major obstacles, though, are local regulations, a shortage of skilled labour and the scarcity of decent offices.



Inflation hits 3.23%

The inflation rate was 3.23 per cent year on year in February and 0.21 per cent compared with the previous month, driven by higher prices of fresh foods and fuel.

The Consumer Price Index stood at 104.66 points.

Vatcharee Vimuktayon, permanent secretary of the Commerce Ministry, said inflation in the first two months of this year was 3.30 per cent compared with the same period of 2012.

However, the inflation was in line with the economic situation, and is targeted to be 2.8-3.4 per cent for the full year.



GI for Hom Mali

Prime Minister Yingluck Shinawatra will next Wednesday announce the Geographical Indication (GI) registration of Hom Mali Thung Kula Rong Hai Rice with the European Union as the first such product from Asean.

Pajchima Tanasanti, director-general of the Intellectual Property Department, said the prime minister would receive the GI certification from the EU chairman in Brussels.