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Commerce Ministry asserts full
payment to farmers for rice purchases
The government is financially capable of paying farmers
who sold rice under the subsidy scheme but the delay in payment was due to
financial discipline on managing the revolving fund, according to a deputy
commerce minister.
Yanyong Phuangrach said the Commerce Ministry has to manage its spending
within the allocated revolving fund of Bt500 billion.
The spending limit for the 2013/14 harvest is Bt270 billion, he said.
Yanyong said the Budget Bureau has approved a Bt26.9 billion expense, plus
an additional Bt20.176 billion from the Bank of Agriculture and Agricultural
Cooperatives (BAAC) to purchase rice from farmers.
The Commerce Ministry has another amount of Bt12 billion from sales of
packaged rice, contributing to a total Bt60 billion to be paid to farmers by
the end of the year, he said.
He said the BAAC and Finance Ministry have created confusion in stating that
they would have only Bt26 billion to pay farmers, insisting that the
caretaker government is fully authorized to abide by payment obligations
under the rice pledging scheme.
“I don’t understand why the BAAC expressed concern on budget constraints for
the rice scheme. Any information to the public should not create fear among
farmers about payment. The commerce minister has reaffirmed there is
sufficient budget for rice purchases nationwide,” said Yanyong.
The Commerce Ministry has so far paid Bt180 billion it earned from rice
sales to the BAAC, he said. (MCOT)
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FTI says Thailand’s economy this year likely to grow less than 3 percent
The Federation of Thai Industries (FTI) predicted this
year’s economy is likely to grow less than 3 percent.
Federation of Thai Industries (FTI) Chairman Payungsak Chartsutipol said
foreign investors are concerned by the ongoing political situation and
confused of the direction of Thailand’s politics.
A sharp drop in exports also reflected that future purchasing power has not
recovered, while auto sales volume which did not reach the targeted 2.55
million units partly indicated why the economy would expand at less than 3
percent.
Payungsak said foreign investors have slowed their investments in the
country since September. He is worried that the economic impact could last
until next year’s first quarter. If the situation is prolonged, foreign
investments could shift to other countries such as Indonesia.
Meanwhile, Asia Plus Securities CEO Kongkiat Opaswongkarn spoke at an
economic seminar in Bangkok, saying that Thailand’s economy this year was
predicted to grow at 2.9 percent, while it will likely expand at 4 percent
next year thanks to political instability.
He said foreign investors had brought Bt320 billion to invest in Thailand
but the past year has seen foreign capital flow out of the country as high
as Bt200 billion as a result of political problems, which Kongkiat believed
would affect the country’s economy until the first half of next year despite
the Feb-2 general election.
PTT Exploration and Production (PTTEP) President/CEO Tewin Wongwanich told
the forum that next year’s economy would lose speed due to the delay in the
government’s infrastructure investment projects and delayed private
investments awaiting political direction after the general election. (MCOT)
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Number of passengers using Suvarnabhumi Airport does not reach growth target
The number of passengers using Suvarnabhumi Airport
during this high season period did not reach its 6 percent growth target.
Suvarnabhumi Airport Director Raweewan Netarakavesana said although the
passenger figure did not drop compared to the same period last year, it did
not grow at 6 percent as targeted by Airports of Thailand Plc, but rather
grew only by one percent.
However, she noted that the figure is still to be monitored until the end of
the tourism season.
According to the Airports of Thailand, the number of passengers using
Suvarnabhumi Airport from Nov 26-Dec 5 (10 days) reached around 142,000 per
day, which is a one-percent increase year-on-year, while the number of
flights reached 181, a rise of 16 percent year-on-year. (MCOT)
Matrix Developments:
Double - Prize Winners at
OPP Awards for Excellence 2013
May Watson, Marketing Manager, Matrix M Co., Ltd.
On Wednesday 27th November, Matrix Developments attended the OPP (Overseas
Property Professionals) Gala Dinner and the presentation of the OPP Awards
for Excellence 2013. The dinner, a formal and lavish affair at London’s
famous Natural History Museum, was a huge success and celebrated not only
the achievements of the best in our industry but also the surge of
confidence in our future.
450 of the leading lights in international property, from over 20 different
countries, sat down to a splendid meal, a night of scintillating
entertainment and the awards presentation itself. In short, it was probably
the industry’s best and most enjoyable networking event this year.
The OPP Awards for excellence are judged by a panel of highly experienced
judges, to all of whom we wish to extend our thanks. They give their time to
the awards because they know that they are based on merit, not just given to
best friends or biggest advertisers.
The awards for estate agents and developers are presented by region, with
the winners of each regional award being entered, automatically, for the
‘best global’ award.
The panel of independent judges awarded Matrix Developments the gold award
for the “Best Developer - Asia” and silver award for “Best Global
Developer”.
These awards are the results of our strategic development and marketing
plans combined with our proven track records which are our mantra of our
business practice.
The customers and investors are assured the peace of mind when investing
with Matrix Development. Our systematic researches and feasibility studies
in the aspects of location, residential environment and marketing allow the
high accuracy of estimation of the return of investment for our customers
and investors. Our strong engineering and purchasing strategy allow us to
efficiently develop our projects to higher standards whilst maintaining the
affordable factor of investments and high returns for our customers and
investors.
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