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Thailand to join ASEAN+3 in setting up rice reserve system

BHP Steel appoints new president for BHP Steel Lysaght Thailand

Thailand-South Korea sign 5-year IT cooperation pact

Local interest rates likely to rise in 2nd quarter of next year

Thailand to join ASEAN+3 in setting up rice reserve system

Thailand will join other member countries of the Association of Southeast Asian Nations (ASEAN) and three major East Asian countries, China, Japan, and South Korea, in setting up a regional rice reserve system for food security reasons. China, Japan and South Korea have joined the 10-nation ASEAN grouping in key regional meetings to discuss significant issues.

The meeting also resolved to set up a task force to carry out a pilot project of the plan on a voluntary basis. Studies have shown that 90% of world rice is produced in Asia, but only four countries in the region are rice exporters, including China, Myanmar, Thailand and Vietnam. (TNA)


BHP Steel appoints new president for BHP Steel Lysaght Thailand

BHP Steel (proposed new name Bluescope Steel) has announced the appointment of Andrew Heycott to the position of President BHP Steel Lysaght Thailand.

Andrew Heycott

Heycott has been with BHP Steel for over 18 years in various executive, product management and marketing/sales positions. He brings to the position extensive strategic management and hands-on experience in the steel industry and manufacturing sectors. His appointment was approved by BHP Steel’s Board of Directors.

Heycott will be responsible for the overall operations of BHP Steel Lysaght in Thailand, which include production sites in Bangkok, Rayong and Khon Kaen as well as sales and marketing offices in Chiang Mai and Had Yai. BHP Steel Lysaght is currently the market leader in Thailand for steel building products and produces quality roll-formed and coated steel products under the well-known Lysaghtโ brand name.

“I’m looking forward to this opportunity and the respective challenges of the position. BHP Steel Lysaght is proud of its history in Thailand, and values the opportunity to conduct business here. As Thailand’s construction, real estate and property markets continue on an upward trend, I’m confident that BHP Steel Lysaght will continue to be an integral player in building and construction markets,” said Heycott.


Thailand-South Korea sign 5-year IT cooperation pact

Thailand and South Korea have signed a memorandum of understanding (MOU) on information technology, which will see at least five years of collaboration in the fields of IT personnel, e-government, and broadband internet.

Information and Communications Technology Minister Surapong Suebwonglee announced that the deal had been signed during Prime Minister Thaksin Shinawatra’s official visit to South Korea last month.

Under the terms of the MOU, the two countries have agreed to cooperate in various areas, including IT personnel development, e-government, and broadband internet - in which Korea is a regional leader - and the two countries will collaborate on software development.

The MOU will see the two countries exchange IT personnel, with Thailand sending officials to observe operations in South Korea, and South Korea sending experts to help a number of projects in Thailand such as e-government proceedings. (TNA)


Local interest rates likely to rise in 2nd quarter of next year

Local interest rates have already bottomed out and are likely to edge up in the second quarter of next year, according to a top financier. Pongsathorn Kunanusorn, senior executive vice president of Secondary Mortgage Corporation said the interest rates should be considered lowest now.

Pongsathorn also said the government-backed Vayupak Fund was expected to begin offering unit trusts to investors next year. “Under the circumstances, the excessive liquidity in the banking system would then be absorbed to a certain extent. The liquidity excess is likely to drop further in April next year when people completed personal tax repayment. Given these factors, commercial banks would have an opportunity to increase interest rates but in a gradual manner,” he said. (TNA)