in the news

SCG sets investment budget of Siam Cement Group has set aside a budget of Bt40 billion this year for both domestic investments and overseas takeovers, president and CEO Karn Trakulhun told a news conference yesterday.

He said this was part of its five-year business plan to invest worth Bt200 billion from 2012 to 2017.

Japan service uses

Thaicom's broadband satellite iPSTAR has become the first to provide commercial WiMAX (worldwide interoperability for microwave access) backhaul service in Japan.

After several months of systems testing, Japan's UQ Communications has installed WiMAX base stations using backhaul (bandwidth wholesaling) via iPSTAR and is offering a commercial wireless broadband service in several areas of Japan as a cost-effective method of extending coverage to under-served areas.

Akio Nozaka, president of UQ Communications, said: "UQ has devised an effective WiMAX communications system utilising a broadband satellite. This system, which utilises iPSTAR, is also a very effective tool in disaster prevention and the rapid re-establishment of communications services in the event of natural disasters such as earthquakes."

Panel tones down

The Joint Standing Committee on Banking, Commerce and Industry will convene next week to seek ways to push forward government consideration of additional measures to cushion the impact of the Bt300 daily minimum wage on SMEs.

It will propose the establishment of a fund of between Bt20 billion and Bt30 billion to help small and medium-sized enterprises in the first three years after the wage increase took effect nationwide on January 1. The fund would cover a million labourers.

This is an adjustment from an earlier proposal by the Federation of Thai Industries for a Bt50-billion fund that would cover 2.2 million labourers.

Consultancy JV

Chuo Senko (Thailand) plans to form a joint venture with Geo Brain Corporation for the establishment of a new subsidiary, 7-Note Co, to provide total-solution consulting services on registered capital of Bt5 million. Its management committee approved the formation of the joint venture last Thursday.

Chuo Senko (Thailand) will hold 60 per cent of the joint venture, while Geo Brain will hold the rest. The business will start this Friday.

The new subsidiary will create new client networks focusing on Japanese investors and companies that aim to invest in the Asean region.