in the news

TCC Assets again extends F&N offer

Charoen Sirivadhanabhakdi's TCC Assets yesterday extended the offer for Fraser & Neave shares for the sixth time.



Its offer will end on January 15, a day after Overseas Union Enterprise's offer ends, according to a filing to the Singapore Exchange. This will extend the months-long battle for control of Singapore's food and drink conglomerate.

Coupons for digital

All 22 million households in the Kingdom will receive a discount coupon to buy digital TV sets or set-top boxes as a key part of a subsidy scheme once digital services are put in place this year, the National Broadcasting and Telecommunications Commission says.

The starting bid price for an operating licence for commercial digital terrestrial TV channels will soon determine the exact value of a coupon. The NBTC plans to set the starting price by the end of March, while the spectrum auction could be held in the second quarter.

The concept of the subsidy scheme for the move from analog to digital TV was approved by a subcommittee yesterday and will be submitted to the NBTC's broadcasting committee for approval on Monday.

SET backs new

The Stock Exchange of Thailand and the Central Bank of Myanmar have signed a memorandum of understanding whereby the SET will support the establishment of the Myanmar Stock Exchange. Both would promote investment in the capital market.

This is the SET's second MoU of this nature, after one with Laos.

Appraisals meet

The Bank of Thailand says it has found no irregularities in commercial banks' collateral appraisals.

BOT Assistant Governor Salinee Wangtal said collateral appraisals were the banks' responsibility if the loan amount is below Bt50 million. For loans valued higher than that, the appraisal is subject to the central bank's approval.

Hiace line gears up

Toyota Auto Works Co (TAW), formerly known as Thai Auto Works, yesterday kicked off its assembly line for the Hiace Commuter High-Roof in Thailand, which required capital investment of Bt1.5 billion.

The output will substitute imports. With 300 employees and one shift a day initially, the production capacity will be increased by two shifts to 18,000 annually around midyear.

In a statement, Toyota said it decided to replace imported units with locally built vehicles, as Thailand's automobile industry boasts high-efficiency production lines, highly skilled workers and quality-control capabilities.