in the news

Carabao Dang maker to buy Silom building

Carabao Tawandang Co Ltd, producer and distributor of the Carabao Daeng energy drink, has won a bid to purchase the Thai Danu Bank building on Silom Road at a cost of about Bt1.78 billion. Songs-for-life singer Yuenyong Opakul is a major shareholder in Carabao Tawandang.

The building is located on a land plot measuring five rai, two ngan and 33.5 square wah priced at between Bt700,000 and Bt800,000 per square wah, a source close to the deal said.

Bt40bn sought for 1st-car scheme

The Excise Department will ask the Cabinet to approve a budget of Bt40 billion to cover tax rebates under the first-car scheme for this year.

Another Bt47 billion will be sought for the following fiscal year (October 2013-September 2014), Excise Department director-general Somchai Polsawas said yesterday.

The department initially budgeted just Bt7 billion for the first-car scheme, but 1.25 million cars were purchased under the programme, requiring tax rebates worth Bt91 billion. About Bt4 billion was spent on the tax refunds last year. Another Bt40 billion will be spent this fiscal year and the remaining approximately Bt47 billion will be paid next fiscal year, Somchai said.

S Supermarket opens Bangpo branch

S Supermarket has opened its first branch in Bangpo, aiming to achieve Bt100 million in sales in the first 12 months.

The company aims to open three to five new supermarket branches every year via its own investments, as well as through joint ventures with potential partners.

Under the plan, the company has adopted three major models for its branches: large-scale supermarkets more than 1,000 square metres in area; medium-scale supermarkets of less than 1,000sqm; and mini supermarkets of less than 300sqm to be opened in office buildings and condominium complexes.