Central bank to introduce Enterprise Resource Development Planning system
The Bank of Thailand (BOT) has set aside 280 million baht
to improve its internal resources to make them more efficient. BOT’s
assistant governor Soawanee Suwannacheep said the bank will introduce an
Enterprise Resource Planning system (ERP) to develop its internal resources.
“Initially, the ERP system will be used for the
resource development of three projects. The first is a project for the
budgeting and inventory accounting system of the whole bank, the second is
the setting up of a banknote printing office, and the third project is to
develop a computer system for human resource management,” Soawanee said.
She said that the BOT has earmarked a budget of 130
million baht to hire a consultancy firm, while another 150 million baht had
been set aside for the development of hardware and software systems for the
The assistant governor explained, “We came up with the
idea of the ERP system five years ago but it was delayed because of the 1997
financial crisis. However, we think the time is now right to introduce the
system and improve the organization’s capacity.”
Moody’s gives thumbs up to Thai economy
The US-based credit rating agency Moody’s Investor
Services has praised the Thai economy and the government’s ability to
control economic risk, and forecast that its revenues this year would exceed
spending by 79 billion baht.
In its official report on the Thai economy, Moody’s
described the Thai economy as having improveda, saying that the government
was successfully controlling economic risk. This in turn assisted the
government in drawing up budgetary and fiscal measures, and boosted domestic
The Moody’s report also praised Thailand for reducing
foreign debts and boosting foreign reserves to US$36 billion, despite debt
repayments to the International Monetary Fund (IMF) of US$4.7 billion. The
revival of the fiscal sector points to sustainability in that sector.
However, the report also said that it would be some time
before Thailand’s financial system had fully recuperated, despite the fact
that debt restructuring was carried out by several companies and had now hit
50 percent of the total target figure.
The report blamed the judicial system for hindering debt
restructuring among small-scale debtors, while praising the Thai Asset
Management Corporation (TAMC) for improving Thailand’s non-performing loan
situation, particularly among banks in which the government had intervened.
The report concluded that the revival of the Thai economy
in 2002 augured well for the present and future, with the strengthening of
the regional economy going hand in hand with the strengthening of
Thailand’s fiscal base. (TNA)
Thailand’s power consumption sets new record on April 8
Domestic power consumption set a new highest record on
Tuesday, April 8 due to higher demand, as temperatures were on the rise in
the mid summer and economic activities were expanding, according to the
Electricity Generating Authority of Thailand (EGAT).
EGAT Governor Sitthiporn Ratanopas said the country’s
overall power consumption climbed to its peak at 2 p.m. on Tuesday.
“At the time, the overall power consumption in the
country reached 17,826 megawatts, setting a new highest record, due to
higher temperatures in the summer, as well as rising demand of local
manufacturers prior to long holidays this week during the Songkran festival,
and the expanding Thai economy,” Sitthiporn said.
EGAT estimates that the country’s power consumption
will continue to grow this year, with its peak possibly reaching 17,888
The EGAT governor, however, urged that the public help
save energy, suggesting that setting air conditioners at 25 C, and regularly
cleaning their air conditioners would help save power bills by at least 10%.