in the news

Govt 'not reducing THAI, PTT stakes'

Finance Minister Kittiratt Na-Ranong yesterday dismissed rumours that the government plans to reduce its stakes in two state enterprises - PTT and Thai Airways International - to lower public debt.

"It's not true. There's no such plan, and it won't happen during this government. [I] ask, blame and condemn those who released such rumours in a filthy way. Please stop doing such things as it does not bring any benefits" to the country, he said.

There is no intention to hide the public debt, which is very low, he said.

"The government pays attention to transparency. All issues implemented can be explained. [The government] tries to do everything with prudence, particularly the act that allows the Finance Ministry to borrow Bt2 trillion for infrastructure investment. This is being executed prudently with discussion with state agencies. Importantly, it [the government] is ready to discuss this issue with the private sector for prudence," he said.

Brewers in JV

Singha Corporation and Danish brewer Carlsberg will hold a press conference to announce a joint venture next Wednesday, according to Singha.

Earlier Singha said it planned to set up a joint venture with Carlsberg to help each other expand distribution of their products overseas.

IPO price doubles

Despite a drop in the SET Index, Akkhie Prakarn yesterday celebrated its trading debut on the Market for Alternative Investment with a doubling of its initial-public-offering price of Bt2.

The subsidiary of Better World Green holds a concession from the Industrial Works Department to manage and operate a waste-incineration centre in Bang Poo for 20 years.

Projects on hold

According to a survey by the Agency for Real Estate Affairs, 108 residential projects have been suspended over failures to secure approvals for project loans or environmental-impact assessments.

Their 22,319 units worth Bt56.35 billion are 17 per cent of total units and 13 per cent of total project value for sale at this time. Of the projects that are suspended, 43 per cent are condominiums, 27 per cent detached houses and 30 per cent townhouses.

The survey began in the middle of last year and was completed last month.

IPR crackdown

The Commerce Ministry has required owners of prime shopping areas to set terms and conditions prohibiting tenants from violating intellectual-property rights.

The requirement also applies to Internet service providers.

After meeting with area owners and ISPs, Deputy Commerce Minister Natthawut Saikua said yesterday that if the space owners found such violations, they could cancel the rental contracts.

The requirement is particularly extended to shopping areas with a bad record of IPR violations, or red zones, and will be effective with the next rental contracts after the current ones end.

In one or two years, the requirement is expected to cover all traders, as rental contracts usually run for that length of time.

"The prime areas for rent, like MBK Shopping Centre, Pantip Plaza and the Crown Property Bureau, are all cooperating," Natthawut said.

Power fund

Amata B Grimm Power and Kasikornbank are launching a power infrastructure fund to raise between Bt6 billion and Bt7 billion.

Chongrak Rattanapian, executive chairman of Kasikorn Asset Management, the financial adviser, said yesterday that KAsset had applied to establish the fund with the Securities and Exchange Commission.

Upon approval, the fund will be offered to investors in the first half of this year.