 |
|
 |
|
BUSINESS |
|
|
|
Thai vegetables resumed exports to Switzerland.
BANGKOK , 29 May 2011 (NNT)- Commerce Minister Pornthiva Nakasai disclosed
that the European Union (EU) had accepted the country’s request in using 100
% intense inspection measures with 16 kinds of vegetables for export
purposes such as sweet basil, coriander, cumin, pepper and eggplant, adding
that without a thorough inspection, the vegetable exports would be
prohibited.
Moreover, the export procedure would require exporters to only register with
the Department of Agriculture. The restriction came into effect since 14
March 2011. Reportedly, the Department of Agriculture had inspected parts of
export’s vegetables and sent to Switzerland already but they were still
unable to reach EU.
Moreover, the Commerce Minister said, at present vegetables exporters and
import companies were successful in vegetable production with the screening
process controlled by Department of Agriculture. However, Thai authorities
will be also needed to monitor the products in order to prevent any damages
towards the essential products that represent the country.
Ms.Pornthiva also said, the fact that certain vegetables could be exported
to Switzerland had boosted confidence in the possibility that in a short
while, the flaws in vegetables production would be eliminated with a
reliable system and the exports procedure would be less cumbersome.
Switzerland is known for strict sanitation measures when it comes to
consumption, so in conclusion, if the vegetables production can pass through
the investigation process in Switzerland, they are likely to be accepted by
the EU as well.
|
|
 |
Finance minister instructs SEC, SET to probe hostile takeover bid for TTA
BANGKOK, May 28 – Finance Minister Korn Chatikavanij on
Friday revealed he has instructed the Securities and Exchange Commission (SEC)
and the Stock Exchange of Thailand (SET) to accelerate investigation into
reports that a group of investors in which SEC chairman Vijit Supinit is
involved is making an hostile takeover bid for Thoresen Thai Agencies (TTA), the
country’s largest dry-bulk carrier.
 The
leading English-language newspaper Bangkok Post reported in its Friday’s issue
that management of TTA said it is preparing for every option proposed by a group
of equity investors, including a takeover bid for the company.
However, the investors must show evidence to prove they can accumulate
shareholders holding 30 per cent of TTA as claimed, said the company, adding
that the investor group included SEC chairman Vijit.
Asked to comment on the matter, Mr Korn said: “We have to ask Mr. Vijit whether
he behaved as accused. Personally, I don’t want to make any comment for now. But
should he do be involved in the deal, it would be considered inappropriate
conduct. Such an action should be also deemed illegal.”
He said SEC and SET had been instructed to investigate into the case without
delay because it is a serious matter that challenged the regulatory standard.
Should the investor group make a hostile takeover bid, he said, it might violate
numerous sections of the Securities and Exchange Act, including acquiring stocks
in a firm exceeding 25 per cent without proper notification to the regulator and
public as well as a failure to make a tender offer for remaining shares from
minority investors.
Mr Korn said if such an action was found violating the law, a drastic action
must be taken against those involved, particularly Mr Vijit, who is currently
serving as the SEC chairman until July 13.
SEC needs to look into the case seriously because it could affect its image and
undermine confidence in the organization. It must make efforts to accelerate
restoration of investor confidence, he said. (MCOT online news)
|
|
Sales of motorcycles up on higher demand as general election approaches
BANGKOK, May 28 -- Sales of motorcycles in Thailand have
risen sharply due to a higher demand by general election canvassers as they find
it is more convenient to approach eligible voters, especially in rural areas
than pick-up trucks widely used in previous elections, a senior industry
ministry official said.
 Suttinee
Poopaka, director-general of Industrial Economics Office, said election
candidates have changed their strategies for the general election to be held on
July 3, where many have decided to use motorcycles instead of pick-up trucks to
approach eligible voters, causing sales to increase significantly.
As billions of baht change hands with the election slightly more than one month
away, Vallop Tiasiri, president of Thailand Automotive Institute, said he
believed canvassers would not be reluctant to buy new motorcycles for use in
campaigning for votes.
Mr Vallop projected that this year's motorcycle production in Thailand would be
around two million units, up from 1.8 million units last year.
Production of motorcycles during the first four months this year in the country
totaled about 140,000 units, up from 130,000 units from the corresponding period
of 2010, whiles sales rose approximately 12 per cent to 150,000 units. Exports
during the same period stood at 87,000 units.
Car production this year is expected at about 1.8 million, up from more than
900,000 last year, despite the slowdown in auto parts production in Japan due to
the massive quake and tsunami which hit that country on March 11. (MCOT online
news)
|
|
IBANK is ready to launch credit card debts project
BANGKOK MAY, 29 2011 - President of Islamic Bank of Thailand,
Thirasak Suwanayos, said the Islamic bank was ready to work on the government’s
policy of easing public’s burden by refinancing credit card debts and also to
improve financial status of credit card debtors of other financial institutes.
During the initial period of the project, the bank will be prepared in providing
services to customers who come to submit their loan applications.
The Islamic Bank had received a limited credit of 1 billion baht to proceed the
government’s project in public financial aids. The loan applicants will be
restricted to submit the request of an amount not exceeding 5 times their
salary, and customers will be allowed to pay debts through installment for the
period of 1 year to 3 years time. The applicants will have to be credit card
debtors of not over 30 days with normal status since 30 April till the day of
loan submission.
In order to help the credit card debtors, those who are unable to submit the
applications on time, or if the qualifications do not meet the projects
restrictions, they can use the service in refinancing the credit card debts from
Islamic bank under the IBANK good time project, Mr.Thirasak added.
|
|
|
|
 |
|
|
