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TOT’s Thai Mobile
launches prepaid service
Initially introduced in Bangkok, Thai Mobile, the 1900
MHz new mobile network run by TOT, just launched its first pre-paid service
targeting 50,000 subscribers and plans to increase its customer base to
200,000 new subscribers by next year.
Marketing manager Amporn Boonsamphan said, ‘The
company’s target is set for 3 percent of the market share of the local
mobile phone industry by next year. We expect to our pre-paid service to
reach 20 million subscribers by then. The pre-paid market has huge potential
and we want to be part of that growth.”
TOT’s vice-president Aran Permpiboon said the company
has 150,000 subscribers since its launch last November. “We expect to have
300,000 subscribers by the end of this year. The pre-paid mobile phone
market is growing in popularity. We have already had approximately 170,000
TOT subscribers who have requested a mobile phone instead of a refund.”
Although the launch was introduced in Bangkok, Thai
Mobile plans to expand its network into the provinces and has employed
Eureka to do research on a marketing approach. The new network for the
provinces is expected to support a 3G system in accordance with the policy
of the Minister of Information and Communication Technology. (TNA)
Marine exposition planned for Phuket
Image Asia, together with Phuket business leaders and
members of the Phuket King’s Cup Regatta Committee recently held a press
conference in Bangkok to announce the Phuket International Marine Expo 2003
under the theme “Working for the growth of Marine Tourism in Thailand.”
PIMEX 2003 is the first international boat show in
Thailand and will feature 90 exhibitors from countries around the world
including Australia, New Zealand, other Asian countries, USA, Europe and
United Kingdom as well as Thailand.
PIMEX 2003 will be held from December 7-10 at the Boat
Lagoon Marina and Royal Phuket Marina and will fully display the
sophistication of Thailand’s marine industry, thus boosting marine tourism
and the local economy.
Participating
in the recent press conference to announce the Phuket International Marine
Expo 2003 (PIMEX 2003) were, from left: Kevin Quilty, chairman of Marine
Alliance of Thailand (MAT) & managing director of Sunsail (Thailand)
Ltd., Andy Dowden, director, and Grenville Fordham, managing director of
Image Asia Events Co., Ltd. (PIMEX 2003organizers), Cdr. Bancha Chantrathai,
managing director of Silkline International Corp., Ltd. (boat builders),
Sitt Polchareon, general manager of Royal Phuket Marina Resort & Spa (PIMEX
support venue) and Christopher King, president of Phuket King’s Cup
Regatta Committee.
World Bank raises growth forecast
for Thailand to 5.8 percent in 2003
The World Bank has raised its forecast for Thailand’s
economic growth to 5.8 percent in 2003, describing the country’s recent
performance as “strong and impressive.”
The bank previously had projected that Thailand’s gross
domestic product growth would slow to 4.5 percent this year from 5.3 percent
last year. The revised forecast matches that of the Bank of Thailand and is
at the low-end of the official GDP growth forecast of Thailand’s National
Economic and Social Development Board of 5.8 percent to 6.2 percent.
A World Bank statement said it expects Thailand’s
economy will grow by 6 percent in 2004. “Thailand’s economic performance
over the past six months has been strong and impressive. The country’s
growth has been supported by a rapid rise in consumer lending, consumption
and strong export performance this year,” the statement said.
The World Bank’s lead financial sector specialist,
Michael Markels, was quoted as saying, “The challenge going forward is to
find a ‘middle path’ between state and private institutions in the
financial markets.” (TNA)
EGAT privatization
plan submitted to Cabinet
The State Enterprise Policy Committee, chaired by Deputy
Prime Minister Somkid Jatusripitak, has approved the privatization plan of
the Electricity Generating Authority of Thailand (EGAT), which is expected
to list in the equity market by March 1 next year. The plan has been
submitted to the Cabinet for final approval.
Under the privatization plan, EGAT will first register as
a public company before offering shares to the public. The government,
through the Ministry of Finance, will still be a major shareholder of EGAT
as it is expected to float about 30 percent of the total issued shares to
the public after EGAT becomes a public company on January 1.
EGAT’s governor Sittiporn Ratanopos said the IPO will
be the largest ever offered in Thailand, and the company will be the largest
in terms of market capitalization after listing on the Stock Exchange of
Thailand (SET). The IPO plan is scheduled to be completed in December of
this year. TNA)
Online stock trade hits 30 billion baht
Online trading in Thai stocks during the third trimester
of 2003 has exceeded 30 billion baht with an increasing number of companies
offering Internet-based trading services.
Executive director of SET trade.com Wittaya
Wacharawithayakul said, “During the third quarter of this year online
stock trading via SETtrade net trading system had risen to 31.877 billion
baht, with 15 companies now using the system to sell stocks. This increasing
popularity of online trading is reflected in the growing number of online
trading accounts, with the 10,000-plus accounts currently open.”
Predicting that the number of accounts was set to grow
throughout 2004, Wittaya added that SETtrade will continue to develop its
net trading system by using new technology to increase speed and convenience
of internet trading and will also increase the number of functions available
to help investors make their trading decisions with greater accuracy. (TNA)
FAO sets 2004 as ‘International Year of Rice’
The Food and Agricultural Organization (FAO), in
collaboration with various governments, development agencies,
non-governmental organizations (NGOs), and civil society organizations, has
set 2004 as the International Year of Rice (IYR), and has initiated
activities to facilitate the implementation of the IYR.
The UN-FAO declaration of the IYR 2004 is a reflection of
the importance of rice in so far as global concerns regarding food security,
poverty alleviation, preserving cultural heritage, and sustainable
development, according to a United Nations General Assembly statement.
“Rice is the staple food for more than half of the
world’s population; and rice products, recipes, festivals, and traditions
have a great significance for the world’s heritage. Rice cultivation and
post harvest activities provide employment for several hundred million of
people in the rural areas, particularly in developing countries. More than
four-fifths of the world’s rice is produced by small-scaled farmers and
consumed locally. The major role of this crop with regard to nourishment and
livelihoods implies that stagnant rice production would be devastating to
food security and poverty alleviation,” the statement said.
The strategy is to engage the global community in
establishing joint and mutually beneficial activities, including information
generation and exchange, transfer of advanced technology through education
extension, application of good management practices, formulation of
recommendations based on successful trials and field case studies, and the
promotion of a policy and regulatory environment conducive to development.
The IYR 2004 was supported by leaders of the Association
of Southeast Asian Nations (ASEAN), and China, Japan, and South Korea at the
ASEAN+3 Summit, recently held on the Indonesian island of Bali. (TNA)
Exporters urged to prepare for continued strengthening of baht
Exporters need to adjust themselves to an impact of the
continued strengthening of the baht without pinning their hopes only on the
state intervention policy.
Chavalit Thanachanan, former governor of the Bank of
Thailand (BOT), said that the current appreciation of the baht was
attributed to the continued weakening of the US dollar due to chronic trade
deficits and the stronger economic fundamentals of Thailand.
Chavalit said, “The BOT, which has a direct duty to
supervise the baht movement, has complete data used for policy making on the
currency, and is closely monitoring the situation. Therefore I am confident
the central bank will manage to oversee the baht to ensure it moves properly
at a particular time. Right now no one can tell which direction the baht
will move since it is too early to tell.”
“Although exporters will be affected by the stronger
baht, I believe it won’t have any effect on overall economic growth
because the government has adopted the dual-track policy in stimulating the
economy,” Chavalit added.
Chavalit also suggested that exporters adapt themselves
to volatility by hedging against foreign exchange risks, improve
competitiveness and reduce costs to boost their exports. (TNA)
Petroleum hub in Philippines proposed
Thailand is considering a plan to set up a petroleum hub
in the Philippines, according to Philippines President Gloria Macapagal-Arroyo.
“We are encouraging Thailand to set up a petroleum hub
in the Philippines since the kingdom wants to set up a petroleum storage
facility in the Southeast Asian region. Thailand has two coastlines: one
coastline facing the Middle East, while the other coastline faces the South
China Sea, which is very strategic,” Arroyo said.
She said that the Philippines had offered Thailand the
possible investment opportunity, and, hopefully, both countries would be
able to sign an agreement regarding the possible investment. Philippine
Energy Secretary Vince Perez has already discussed the proposal with Prime
Minister Thaksin Shinawatra.
Perez said that the setting up of effective mechanisms to
provide a better guarantee of uninterrupted access to petroleum supplies at
reasonable prices would benefit both countries, as well as other member
countries of the Association of Southeast Asian (ASEAN). (TNA)
New low interest loan program for SMEs
The Bank of Thailand (BOT) has launched a new phase of
its program to offer low interest loans to small and medium enterprises (SMEs)
as part of the government’s policy of supporting small businesses.
The new scheme will see low interest loans extended to
SMEs via commercial banks, Small and Medium Enterprise Development Bank of
Thailand (SME BANK), Export-Import Bank of Thailand (EXIM Bank), the Bank
for Agriculture and Agricultural Cooperatives (BAAC), the Government Savings
Bank (GSB) and other financial institutions.
No ceiling has been set on the amount of assistance to be
offered. SMEs will be able to use promissory notes as collateral, with the
BOT, via financial institutions, offering loans up to 60 percent of the
value of the notes. The remaining 40 percent of the loan will be issued by
the financial institution itself.
The promissory notes must have a repayment period of 120
days, with a total loan value of no less than 10,000 baht. The loan period
may be extended for a period not exceeding five years. The rates will be
over 2 percentage points, lower than those generally offered by commercial
banks.
SMEs in the production and service sectors wishing to
participate in the program must have total assets, excluding land, worth
less than 200 million baht, and a workforce not exceeding 200 employees.
Lower figures apply to the retail and wholesale sectors.
All participating SMEs must be run by Thai nationals and
must be registered in Thailand, with Thai nationals holding no less than 50
percent of total stocks.
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