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Baht/$ 33.40/47
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IN Brief
FINANCE :State-owned financial institutions should cut their lending rates to help borrowers suffering from rising living expenses, says Finance Minister Surapong Suebwonglee.
He said he had no firm targets on how much state banks should reduce rates, as it depended on the funding structure of each institution.
"This is not an order. But I do think banks should help to relieve some of the burden for the public," Dr Surapong said.
The call comes even as loan and deposit interest rates are rising across the banking system. Analysts expect the Bank of Thailand to raise its policy interest rate, now at 3.25%, by one-half to 0.75 points by the end of the year in light of rising inflation.
The central bank's Monetary Policy Committee holds its next rate-setting meeting on July 16.
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AOT optimistic
AVIATION :Airports of Thailand Plc, the operator of the country's six main airports, expects net profit to rise this year as tourist arrivals increase.
Passenger numbers climbed 9% in the six months to March 31, president Chana U-Sathaporn said. AoT had a profit of 1.09 billion baht in the last fiscal year that ended on Sept 30, 2007.
Tourist arrivals to Thailand increased 13% between January and March as political tensions in the country eased after the December. However, growth in traffic may slow as airlines globally cut flights and ground aircraft on soaring fuel prices.
"Our revenue may be hurt as airlines cut flights amid high oil prices," she said. "However, the full-year performance should be better."
AOT had a profit of 3.5 billion baht in the first half, compared with 2.2 billion a year earlier. Full-year profit may also get a lift from a one-time gain stemming from the 2.7-billion-baht payment from the duty-free shop operator King Power as part of a court ruling.
AOT shares closed yesterday on the SET at 48.75 baht, unchanged, in trade worth 28.14 million baht. BLOOMBERG
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Power plant funded
FINANCE :Kasikornbank, Bank of Ayudhya, Siam City Bank and Overseas Chinese Banking Corp yesterday signed a 5.8-billion-baht loan agreement with Siam Power Generation to build a 160-megawatt, gas-fired power plant in Rayong.
The new plant will generate 90MW for the Electricity Generating Authority of Thailand and 70MW for G Steel under a 25-year contract. Construction is to start this month and operations by December 2010.
Siam Power Generation is a small power producer with capacity of 450MW, mostly for industrial clients in the SSP Industrial Park in Rayong. It is 70% held by Melewar Industrial Group Bhd, a Malaysian conglomerate with interests in iron and steel, power, oil and gas and engineering.
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15-day yield 3.25%
DEBT MARKET :The Bank of Thailand yesterday auctioned 80 billion baht in 15-day bills for an average yield of 3.25% with bid coverage of 1.26 times.
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