Lalin Property plans up to 8 new projects this year
Lalin Property plans to launch between six and eight new residential projects worth Bt4 billion this year, the exact number depending on how long the current political woes drag on, chief executive officer Chaiyan Chakarakul said.
“We will launch new projects in the second quarter of this year,” he said.
Lalin targets total presales worth Bt3.2 billion and revenue of Bt2.7 billion this year. The company has also set aside an investment budget of Bt900 million to buy land for development next year.
SSI hits 30m-tonne mark
Sahiviriya Steel Industries’ Bang Saphan plant achieved an accumulated hot-rolled-coil output of 30 million tonnes last Friday.
The hot strip mill plant was established in 1994, with the aim to supply premium-grade steel sheets to cater for the region’s growing demand in various sectors such as automobiles, energy, transport and construction.
“This success is a result of our people’s relentless effort to innovate continuously in production capability and product quality,” said SSI president and CEO Win Viriyaprapaikit. “It is the first ever among Thai steel companies and it epitomises how far the Thai steel industry has come. It affirms our belief that anything is possible – in a country with no natural resources for steel-making, we can make a mark in the world by making good products [through] sheer hard work.”
According to the Iron and Steel Institute of Thailand, domestic steel demand this year will be about 18 million tonnes, increasing 2.4 per cent from 2013.
Crown Tech IPO this week
Crown Tech Advance, a producer and distributor of AJ home appliances, has set an initial public offering price of Bt2.5 per share that will open to booking on February 20, 21 and 24.
RHB OSK Securities is its financial adviser and lead underwriter.
Crown Tech Advance will start trading on February 27. The IPO will be of 100 million shares at par value of Bt0.50 per share.
Crown Tech Advance reported net profit of Bt50.68 million in the first nine months of last year. Up to 70 per cent of its revenue is from audio-video products, and the rest from home appliances.
SCBam looks to Bt1 tn in AUM after 20% growth last year
Siam Commercial Bank Asset Management reported that its assets under management business grew by 20 per cent to Bt835.51 billion last year and hopes to grow it to Bt1 trillion this year.
SCB plans to tap its corporate clients to expand its provident and retirement fund business in a more fully-integrated manner and spreading investments overseas, especially in developed markets.
SCBAM president Chotika Sawananon said SCBAM managed Bt835.51 billion in 2013 compared to Bt666.24 billion in 2012, up 25.41 per cent.
The 2013 figure comprised mutual fund worth Bt669.50 billion, up 20.41 per cent on the year, and Bt81.55 billion in personal funds, up 111.07 per cent, and Bt 84.46 billion in provident and retirement fund, up 17.95 per cent.
For 2014, SCBAM’s aggressive AUM target of Bt1 trillion would be an increase of 20 per cent on the year.
SCBAM hopes to offer a more fully-integrated service, with an emphasis on diverse types of funds available for retail and institutional clients to diversify their investments risks.
As for the provident fund, Chotika said SCBAM planned to encourage its corporate clients to establish retirement funds for their employees and coordinate with the Siam Commercial Bank group to introduce and offer new and beneficial financial products to SCBAM’s provident funds clients.
For this year, Chotika said SCBAM expected to boost its personal funds business to Bt100 billion and become the leader in this sector, while also widening the gap on its second-ranked rival by about Bt5 billion.
Mutual funds would still play a vital role for SCBAM’s growth this year, especially real estate and basic infrastructure funds – which should narrow the gap on the sector’s current leader, Chotika said.
Ital-thai inks solar power deal
Italian-Thai Development Plc has signed a contract with Serm Sang Palang Ngan Co Ltd to proceed with the SSP 40 MWAC Photovoltaic Solar Power Project in Lop Buri.
The contract value Bt1.69 billion.
Thaketa executes power pact
Myanmar Electric Power Enterprise and MAXPOWER (Thaketa) Co Ltd have executed a power-purchase agreement to construction and operation of a 50 MW gas-fired power plant in Thaketa, Yangon.
Myanmar Electric Power Enterprise is a state-owned electricity company, while MAXPOWER is the Myanmar-based power-generating subsidiary of the Navigat Group
The plant will utilise the efficient and advanced technology of sixteen General Electric Jenbacher gas engines.
MAXPOWER has invested US$35 million in the plant, which is now fully operational.
The Navigat Group was established in 2003 and has 650-plus staff in Indonesia, Thailand, Singapore, Myanmar and the Middle East.
CP set for 5 projects in Punjab
Thailand-based Charoen Pokphand (India) Pvt Ltd has signed a memorandum of understanding with the Punjab government to invest Rs571.2 crore for establishing five poultry and pig farming businesses in the state.
Disclosing the deal yesterday, a spokesman for the Chief Minister’s office said a delegation from Charoen Pokphand (Thailand), led by its vice-chairman Chaiyaporn Montha, notified Punjab Chief Minister Parkash Singh Badal of the deal.
The company will construct a feed mill (worth Rs120 crore), a hatchery (Rs.24 crore), a breeding farm (Rs102 crore), a broiler farm (Rs324 crore) and a swine farm (Rs. 1.2 crore).
The spokesman said the CP Group intended to commence some commercial production this year and completed all the businesses by 2018.
Malee to pay BT1.05 dividend
Beverage firm Malee Sampran Plc's has agreed to pay a dividend of Bt1.05 per share to shareholders on May 7.
It follows the company reporting total revenue of Bt5.09 billion for 2013, a drop of 17.4 per cent on the year.