Briefs

PTT, the country's largest oil and gas company, plans to allocate 5 per cent of its annual investment budget on greenhouse gas reduction projects, starting from 2011.

 Based on the 2010-2014 investment plan, PTT will invest Bt965.35 billion.

 Nattachart Charuchinda, PTT executive vice president, said this is in line with the company's plan to be included in the Dow Jones Sustainability Index within 2013. The projects to help reduce greenhouse gases are mainly 1-million-rai reforestation projects to reduce carbon emissions by 4 million tonnes per annum and carbon labels which will be carried out in cooperation with other business units.

No Picnic takeover

Siamgas and Petrochemicals rose sharply yesterday following the rumour that it plans to take over Picnic Corp. The share prices of Siamgas yesterday rose to Bt14.60, before easing to end the day at Bt13.80 or a 0.70-per-cent gain as the company denied the takeover rumour.

 Turnover was tuned at Bt449 million. Siamgas's price has gradually moved up from Bt11.30 as of June 1.

Adder system to go

The Energy Ministry plans to replace the adder system with the feed-in-tariff structure, to stabilise power tariffs.

 Energy Minister Wannarat Charnnukul, while citing that this would become clearer within the next few months, said the new structure will ensure fixed tariffs throughout the power purchase contract. The current adder system allows an increase in the tariffs when power prices rise.

KTB to sell NPAs

Krung Thai Bank plans to sell non-performing assets at the NPA Grand Sale, aiming to raise no less than Bt100 million from the fair.

Teerapol Pussadet, senior executive vice president and managing director, Credit Restructuring & Asset Management Group, said over 1,300 items worth more than Bt1.3 billion will be put on sale covering a wide range of properties in Bangkok and the vicinity. Discount as high as 30 per cent will be offered while the clients need to pay just 1 per cent ownership transfer fee. Credit lines upto 110 per cent of purchase price are also on the card.

The fair will take place from July 9-11 at the Mall Bangkapi Department Store.

In the first half, KTB sold NPLs worth over Bt3 billion.

TNT to invest ¤4.5m

TNT, one of the world's leading express integrators, today announced that it would make a further ¤4.5 million (Bt185 million) investment in its successful Asia Road Network (ARN), which currently serves six countries and 127 cities in Southeast Asia and southern China. This brings the total investment to date in the fully integrated ARN to over ¤12.5 million.

 Onno Boots, regional managing director of TNT Southeast Asia and India, said transporting goods by road on the ARN is, on average, 30 per cent cheaper than air transportation and three times faster than sea transportation. The ARN is linked to TNT's air networks and is supported by its multiple facilities across the region.

AIA greets rating

American International Assurance-Thailand (AIA Thailand) welcomed Fitch Ratings' assignment of national IFS rating of AAA with a stable outlook.

Ron van Oijen, AIA Thailand's chief executive officer said having a good rating has underlined the company's outstanding financial strength, management capability, business flexibility and strong competitive position. With over 30 per cent market share, AIA is the biggest life insurer. 

Facebook Kurami

Health Impact has launched Facebook Kurami, to promote its health and beauty products through the social media network. The company plans to use the network to directly communicate with customers, it said. - The Nation