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SET plans to list breweries, sugar and education businesses
The Stock Exchange of Thailand is considering
encouraging operators of whisky, breweries, sugar, and businesses which
run educational institutions to list on the stock market because they
enjoy high potential for growth. Sophavadee Lertmanaschai, SET’s senior
vice president, said the exchange was stepping up efforts to persuade
companies with growth potential to list on SET and Market for Alternative
Investment (MAI).
The exchange would allow companies whose businesses are
previously “banned” such as whisky breweries, sugar, and “schools
for profit” because these categories have much potential for expansion
in the future. She said one of the breweries to which the exchange is
closely watching is Beer Chang, which is a major producer and distributor
of beer in the country.
Ms Sophavadee conceded the exchange had previously
discouraged the listing of sugar businesses because product prices are
volatile. Price volatility radically affects the benefits of sugarcane
farmers and the government often intervenes in price setting.
However, she said, the SET has lifted a requirement
that companies to be listed submit and explain about back-dated operating
results. Instead the SET will to focus on information disclosure instead
because that has an impact on investors’ decisions. She said that in the
past the SET did negotiate with executives of some educational
institutions for possible listing. But at that time most educational
institutions were passive about business gains. This mentality has changed
in the past few years and presently educational intuitions show much
potential in growth, expansion and profits. (TNA)
BOI measures to encourage auto assembly
In order to further develop Thailand as Asia’s
automotive production base, the Board of Investment (BOI) met on January
25, 2002 and approved measures to encourage assemblers to locate
operations in Thailand. The objective of the measures adopted by the Board
is to establish Thailand as the automotive hub for the region and the
center for pick-up truck manufacturing in Southeast Asia.
Assemblers will now be granted import duty exemption on
machinery, regardless of zone. Previously, in order to receive these
benefits, assembly plants had to be located in Zone 3. There are two
conditions that must be met in order to be eligible for these new
measures. Applicants must submit comprehensive plans, combining both
assembly plants and component manufacturing facilities, whether undertaken
by one company or as the result of cooperation between companies. And,
total initial investment costs for the entire project must be not less
than 10 billion baht
The newly-announced measures provide for import duty
exemption on machinery for those parts and component manufacturers that
have applied in conjunction with an assembler. If the project is located
in an industrial estate or promoted industrial park in Zone 1, the parts
and component manufacturer will also receive a three-year corporate income
tax holiday.
The Board also announced that they would arrange
meetings with all concerned government agencies in order to determine what
measures could be undertaken to facilitate the use of Thailand as an
automotive export base, particularly for pickup trucks and parts and
components.
In less than 10 years, the Thai automotive industry has
evolved from an import substitution industry to a manufacturing industry
that exports vehicles to many countries around the world. Auto exports
have increased from 10,049 vehicles in 1993 to approximately 150,000
vehicles, valued at 60 billion baht, in 2000.
As a result of this liberalization, Thailand expects to
increase exports of finished vehicles by 150,000 per year and increase
export value to more than 80 billion baht per year.
Tops Supermarket awarded quality certification
The Fresh Food Distribution Center of Tops Supermarket
recently received a Quality Certification under the Hazard Analysis
Critical Control Point (HACCP) from Total Quality Certification System
International (Thailand). Tops is the first supermarket in Thailand to be
awarded this certificate of quality in its Fresh Food Distribution center.
HAACP is the system which analyses hazards and critical
control points of foods and food handling. The system is internationally
recognized and accepted in the food industry world-wide. HACCP maintains
the principle and procedures of international standards of safe handling,
storage, transporting, and distribution of food products and sets the
safety control system on each process relating to production. Each process
requires the application and monitoring of a set of standards to insure
safety and quality of products from producers to consumers.
The introduction of HACCP was based on an initiative
put forward by Tops executives who say the need to maintain and control a
set of high standards in the industry. In August 2002 when the system was
introduced as part of Tops’ policy, staff at all levels was trained in
every aspect of food safety, handling, transport and storage. A detail
plan was put into place, which categorized foods and food products into
groups depending on their application. This allowed Tops trained staff to
identify and implement necessary measures at various stages of safety
control points. The planning and testing of the methods involved went
through a 2-month analysis period involving personnel from all levels of
Tops Food Distribution Center.
Thailand’s Advanced Info Service PLC selects Covergy’s software
Convergys Corporation, a global leader in integrated
billing and customer care services, recently announced that Advanced Info
Service PLC (AIS), Thailand’s largest wireless operator and fastest
growing service provider, has chosen its Geneva [TM] Active Revenue
Management (ARM) software to bill all of AIS’s telecommunication
products and services. Geneva will play a critical role in enabling AIS to
achieve its ambitious target plan of growing its subscriber base.
AIS has embarked on a major program of network
expansion and upgrading and will harness Geneva’s ability to handle
large numbers of complex financial transactions and sophisticated pricing
models in order to maintain its market lead. The contract with AIS is the
largest Geneva license to date.
Convergys’ Geneva software will support the various
pre-paid and post-paid services provided by AIS including GSM, GPRS, WAP,
and content services. Geneva will replace Cubics, AIS’s legacy system,
and will be integrated with the company’s existing software
infrastructure including Siebel CRM, Comptel (provisioning and mediation),
Isis Papyrus (bill formatting), and a data warehousing system. The project
is scheduled to come into live operation in two stages; the first phase is
targeted for completion by September 2002, and the second is targeted for
completion in January 2003.
Convergys’ modular and scalable product line of
end-to-end billing products, application modules and pre-integrated
application suites enables communication providers to create fully
integrated billing and customer care environments that are adaptable,
reliable and cost-effective. Convergys products are based on its proven
and innovative next-generation framework, a convergent component-based
architecture that provides flexibility, investment protection and support
for convergent communication services.
Considered the service provider with the most potential
in Thailand’s mobile phone business, Advanced Info Service Plc. or AIS
is the mobile phone operator in Cellular 900, GSM Advance, and Prepaid
One-2-Call with more than 5 million registered users (as of January 2002).
The key strategies in top performance are implemented by AIS consist of 4
major areas including network, technology, service, personnel, all of
which play a crucial role in providing service
Convergys Corporation (NYSE: CVG), a member of the
S&P 500 and the Forbes’ Platinum 400, is the global leader in
integrated billing and customer care services provided through outsourcing
or licensing. They serve top companies in telecommunications, Internet,
cable and broadband services, technology, financial services, and other
industries in more than 30 countries. They also provide integrated,
outsourced, human resource services to leading companies across a broad
range of industries.
Convergys (TM) employs more than 45,000 people in 47
customer contact centers and in our data centers and other offices in the
United States, Canada, Latin America, Israel, Europe, and Asia. Convergys
is on the net at www.convergys.com, and its corporate headquarters are
Cincinnati.
FDA says AHA/BHA based cosmetics should be used with sun-proof product
According to Deputy Secretary-General of the Food and
Drug Administration (FDA) consumers using AHA/BHA-based cosmetics should
avoid exposing to the sun, or should use the cosmetics with a sun-proof
product to prevent any asthmatic illnesses.
Cosmetics with alpha-hydroxy acids (AHAs) and beta-hydroxy
acids (BHAs) as their key ingredients were found increasingly popular
among consumers. Studies had, however, found that AHAs and BHAs can cause
some asthmatic illnesses, and irritate skin and eyes.
A recent study of the U.S. Food and Drug Administration
found that people who use
AHA/BHA-based cosmetics will more easily become
sunburned when they are exposed to the sun, as AHA/BHA will react more
promptly to ultra violet ray in the sunshine. Similar results were also
found from an earlier study of the local cosmetic industry.
To safely use AHA/BHA-based cosmetics consumers should
avoid exposure to the sun when they are using these products. An
alternative is to use the cosmetics with a sun-proof product, which has at
least 15 SPF value. Consumers should also test the cosmetics in a small
skin area before using them regularly. Anyone who suffers from asthma
should be particularly cautious about using these products and should test
them before they purchase them. If the use of a particular cosmetic brings
sings of an asthma attack, people should stop using the product and seek
advice from their physician.
M.D. Ravivan said that babies and children should be
kept away from the AHA/BHA based cosmetics. AHA is found in, for instance,
glycolic acid, lactic acid; while BHA is found in salicylic acid, which
are widely used now as ingredients of many cosmetics including those
manufactured and sold in Thailand (TNA)
NPLs in banking sector drop to 11.49% in December
Non-performing loans held by all commercial banks in
December last year dropped to 441.94 billion baht or 11.49% of the
outstanding loans from 512.17 billion or 13.25% in November, according to
the Bank of Thailand.
The decline in the NPLs was attributed to the transfer
of bad debts to Thai Asset Management Corporation and greater efforts by
most banks to solve the problem. NPLs held by private-owned banks edged
down to 370.47 billion baht or 14.43% of the outstanding loans from 438.44
billion or 16.75%. Those held by state-owned banks decreased to 71.46
billion baht or 5.59% from 83.73 billion or 6.55%.
NPLs held by Bangkok Bank declined to 106.1 billion
baht (14.71%) from 112.59 billion (15.42%), Thai Farmers Bank to 62.72
billion (13.1%) from 63.9 billion (13.32), Bank of Ayudhya to 56.92
billion (16.58%) from 66.11 billion (19.52%), DBS Thai Danu to 4.46
billion (5.87%) from 4.91 billion (6.45%), Thai Military Bank to 33.53
billion (12.28%) from 56.54 billion (20.5%), and Siam Commercial Bank to
84.92 billion (18.5%) from 99.96 billion (21.46%).
NPLs held by UOB Rattanasin edged up 407 million baht
or 0.85% of the outstanding loans from 358 million or 0.74%, Standard
Chartered Nakornthon increased to 1.33 billion (2.11%) from 1.18 billion
(2.03%), Bank of Asia decreased to 20.16 billion (18.29%) from 22.85
billion (20.27%), Krung Thai rose to 64.65 billion (8.19%) from 54.67
billion (7.13%), BankThai declined to 4.42 billion (3.19%) from 4.66
billion (3.25%), Siam City Bank dropped to 146 million or (0.7) from 4.89
billion or (2.34%), and Bangkok Metropolitan Bank decreased to 2.24
billion (1.59%) from 19.5 billion (12.2%). (TNA)
Thai firm to make SIG Sauer pistols
In March, the first Thai firm authorized to manufacture
handguns, JK Defense Industry, will receive a production license from a
Swiss-German company Sigarms-Sauer, maker of the popular SIG Sauer
pistols. JK Defense Industry’s will make the weapons in Phrae, a
northern province known for its illegal handgun industry. Industry
analysts said the move would reduce reliance on imported guns. Thailand
imported about Bt2 billion worth of firearms between 1995 and 1999.
Jirapan Kongpan, JK Defense Industry’s managing
director, said the Thai-made pistols would match the standard of those
produced by Sigarms-Sauer in Europe, Jirapan said. (TNA)
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