|
|
| • EXCH RATES |
|
Baht/$ 34.24/29 (Bid/Ask)
|
GOLD |
14050
-400
|
|
INBrief
ELECTRONICS Delta Electronics (Thailand) Plc is looking to buy electronics firms in the United States and Europe that are experiencing problems because of the global economic downturn, according to director Anusorn Muttaraid.
''If the global financial crisis drags on over the course of next year, we should reach some decision,'' he said. ''Any acquisition ... must add strength to our research and development as well as our market base. Our strategy is to own 100% of any acquired firm.''
Delta is Thailand's biggest listed electronics firm and is 24% owned by Taiwan-based Delta Electronics Inc. It has shifted to producing high-margin power supply equipment and exports mainly to the US and Japan.
Delta is debt-free and cash-rich, with about five billion baht in cash. It would look at acquisitions of less than dour billion baht, the amount it paid for Switzerland's Ascom Energy System in 2003, renaming it Delta Energy System (DES).
DELTA shares closed yesterday on the SET at 11.50 baht, up 50 satang, in trade worth 6.52 million baht.
-----
Traffic off 9%
AVIATION Passenger traffic through Thailand's six major airports contracted 8.95% year-on-year in August, partly reflecting the downturn in Thailand's tourism industry.
High oil prices, the slowdown in the global economy and Thailand's political turmoil that led to the closure of Phuket and Hat Yai airports at the end of the month further dampened the low-season travel demand.
The August contraction was much higher than the 1.34% dip recorded in July, according to data from Airports of Thailand Plc.
Combined passengers through airports including Suvarnabhumi in August totalled 4.51 million, with international numbers down 4.98% to 2.9 million and domestic travellers down 15.35% to 1.6 million.
Flight movements fell 13.6% to 26,098 as carriers cut seat capacity. Domestic aircraft movements declined 25% to 11,623, while international ones contracted 3.8% to 17,445.
-----
TOT selling units
COMMUNICATIONS TOT Plc has agreed to sell four loss-making subsidiaries that it considers have no future prospects.
Spokesman Ratian Srimonkol said the four companies were Mobile Communication Services, Telecard, True Multimedia, and Trade Siam.
TOT holds 3 million shares in Mobile Communication Services, 1.3 million in Telecard, 18.52 million in True Multimedia, and 70,000 shares in Trade Siam.
He said the companies had been operating at a loss for a long time and did not receive co-operation from other shareholders.
He expected the state enterprise would earn 150 million baht from selling its holdings.
-----
LPG stocks needed
ENERGY Liquefied petroleum gas (LPG) producers and traders will have to increase their stockpiles in order to secure supply for domestic demand, said Energy Minister Wannarat Charnveerakul.
Although LPG demand in the automotive sector has shown zero growth since July, when oil prices started to drop, Thailand remains a net importer of LPG, which had been used mainly for cooking before oil prices started to rise.
LPG traders currently keep stocks equivalent to two days of sales volume on average.
Metta Bunterngsuk, the director-general of the Department of Energy Business, said that expanding the LPG reserve could require huge investments for new facilities. PTT's LPG depot in Si Racha has a capacity of 60,000 tonnes a year and needs to be expanded to 100,000 tonnes within two years.
PTT has said it would need nearly four billion baht to expand its LPG stock facilities. It is currently renting floating LPG tanks from a supplier in the Middle East.
-----
SC campaign
PROPERTY SC Asset Corporation has set a sales target of 150 million baht from its SC Parade promotional campaign to be held this coming Sunday, offering units in its six projects at special prices with up to one million baht in additional incentives to stimulate sales.
The offers include single houses at Bangkok Boulevard at prices starting from four million baht, townhomes starting from 1.99 million baht and condominiums starting from 1.99 million baht.
SC shares closed yesterday on the SET at 5.10 baht, up 22 satang, in trade worth 2.1 million baht.
-----
Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Next
