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Economy October 28, 2014 01:00

By The Nation

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Thai conglomerate eyes Philippine operation



One of Thailand’s largest investment holding groups is looking to set up manufacturing facilities in the Philippines, a report said yesterday.
“We are looking to (set up factories) for the cosmetics first,” SahaPathana Inter Holding Plc group president Chantra Purnariksha was quoted as saying by the Philippines Star. “Then we will diversify into other products,” she said. 
She said the Philippines was a potential market in the cosmetics sector as most of products were imported. The Saha group has interests in cosmetics, textiles, toiletries, as well as food and beverages. It already has a presence in several Southeast Asian countries, including Myanmar, Vietnam and Indonesia. The group’s revenues exceeded $120 million last year. – DPA 
 
Grammy concert hall
GMM Grammy has earmarked about Bt122 million to convert an exhibition hall on the 8th floor of CentralWorld shopping complex into a concert hall to support its music business.
The country’s largest music and entertainment company aims to use this new venue called “Muangthai GMM Live House” to drive its show business, as well as to boost its additional revenue from music business. 
Krij Thomas, chief executive officer for music business, said yesterday that his company planned to create at least 104 shows and concerts a year, expected to generate about Bt70 million revenue in the first year of operation. 
The seating capacity of the new venue could be arranged from 2,000 to 3,000 people. The hall is also equipped with cutting edge audio and visual technology, including a 10-metre LED screen. 
 
SEC allows REIT bonds 
The Securities and Exchange Commission (SEC) will allow real estate investment trusts (REIT) to issue and offer for sale of plain debt instruments (REIT bonds) within this year. 
Vorapol Socatiyanurak, SEC secretary-general said: “The Capital Market Supervisory Board recently approved the regulations on REIT bond offerings. Expected to become effective soon, the new regulations will provide an alternative channel for REIT to obtain a loan at a lower cost with more flexibility while more financial product variety will serve investors with further investment choices.
In addition, the new regulations will help promote REIT as an important vehicle for fund raising and investment for long-term growth of real estate development in Thailand.