PTG Energy to invest lion's share of 2013-14 budget in network expansion
PTG Energy would use most of its Bt1.02-billion capital expenditure budget for 2013-14 to expand its PT petrol station network.
This year 155 filling stations, including 130 managed by the company, would be added nationwide with the focus on the Northeast, where fuel demand is high.
Its own stations will increase by 100 branches on average over five years, while those managed by dealers will increase by 25.
By year-end its station system will reach 729 units, of which 527 will be owned by the company and 202 by distributors.
Last year out of 574 stations, 397 were owned by the company and 177 by its distributors.
Nestle Thailand to mark 120th anniversary with big event focusing on health, wellness
Nestle (Thai) is celebrating 120 years of providing food and beverages in Thailand by inviting the public to a big kick-off event for health and wellness.
"Live Healthy, Live for More…Nestle 120 Years Mobile Expo" will be held on Friday at the Rajamangala National Stadium in Hua Mark.
Nestle wants to pay back people for staying at the company's side for 120 years via a host of activities designed to promote long-term health and wellness among families.
The company believes that good health brings life good opportunities. It is one of the company's initiatives under the "Creating Shared Value" concept, which guides its effort to share what is good with society.
US, EU plan to invest in hotel industry in Myanmar amid inflow of tourists
The United States and some European countries plan to invest in the Myanmar hotel industry for the first time, director Hlaing Oo of the foreign investment department under the ministry of hotels and tourism said last week.
With tourists flocking to Myanmar, the US and European countries like Germany and Switzerland are discussing about building hotels in the country, he said.
After the ministry announced the establishment of hotel zones in Nay Pyi Taw, Yangon, Bagan and Inlay regions, interested parties from abroad visited Myanmar to discuss their plans.
"At present, Germany, Switzerland and the US can enter to invest in Myanmar's hotel industries," Hlaing Oo said.
Japanese, Thai and Malaysian businessmen are now in the planning stage, he said.
Singapore, Thailand, Japan, Hong Kong, Malaysia, Britain and Vietnam have invested over US$1.4 billion in infrastructure development, with Singapore standing at the top.
Tourists from Thailand, China, Japan, South Korea and Malaysia as well as Germany and France are the most visiting Myanmar, according to the ministry. More than 1.6 million tourists visited Myanmar last year. - Eleven Media
Under-pressure stocks fret SEC
The Securities and Exchange Commission has instructed the Stock Exchange of Thailand to closely watch the trading of some stocks that are under speculative pressure.
Brokerages would be instructed to properly advise customers, especially newcomers, of associated risks.
The booming market is drawing new investment. Asia Plus Securities warned in its research note yesterday that the situation sounded "terrifying" as retail investors' portion is "extremely higher" at about 60 per cent of market turnover.
The SET Index closed 6.48 points down at 1,591.65, but turnover remained brisk at Bt65 billion.
While foreign investors were net-sellers of Bt1.6 billion, local individuals were net-buyers of Bt1.15 billion.
Oishi stake sold
Oishi Group yesterday reported to the Stock Exchange of Thailand that Thai Beverage, the major shareholder, unloaded 18 million shares, representing 9.60 per cent of the total issued shares of the company, on the SET's Big Lot Board.
The purpose of the disposal was to increase the free float of the company in order to comply with the rules and regulations of the SET.
RS yesterday announced to invest Bt200 million in creating contents to its two newest satellite TV channels - Sun Channel and Star Max Channel to reinforce its leadership strategy in the local satellite TV industry.
RS currently owns free-to-air satellite television channels - Channel 8, Sabaidee TV and You Channel.
Asia Offshore Drilling bags more deals
Thoresen Thai Agencies Plc yesterday reported that Asia Offshore Drilling, an associate of Mermaid Maritime Plc, has concluded two more contracts with Saudi Arabian Oil Company, the world's largest oil and gas company, worth up to US$462 million of revenues.
The contracts with Saudi Aramco mobilise Asia Offshore Drilling (AOD)'s second and third new-build jack-up rigs, AOR-2 and AOR-3, to Saudi Arabia to provide drilling services for a minimum of three years plus a one-year option.
The potential revenues for the three-year period for both rigs are $394 million as well as a cumulative mobilisation fee of $68 million.
The rigs are under construction at Keppel FELS in Singapore, with scheduled delivery dates in April and July.
A similar deal was concluded last October, also with Saudi Aramco, for the first of AOD's new-build jack-up rigs, AOR-1.
The combined potential revenues from AOD's three rigs stand at nearly $700 million over three years. Mermaid founded AOD in 2010 and today holds 33.76 per cent of the company.
SET volume up 80% in February
The Stock Exchange of Thailand's securities trading volume in February soared 80 per cent from a year earlier, supported by optimism over Thailand's economic growth.
Fourth-quarter GDP was significantly higher than a year earlier and the earnings of listed companies improved, although concerns of US and European economies remained, putting pressure on the investment mood.
The SET main index ended February at 1,541.58 points, up 10.75 per cent from the end of last year. However, foreign investors reversed themselves to become net sellers of shares worth $574 million in February after being net buyers for three straight months.
Combined average daily trading volume of the SET and the Market for Alternative Investment reached Bt62.05 billion, up 79.90 per cent from a year earlier, while daily trading volume of derivatives rose 98 per cent from a year ago to 67,777 contracts per day.