GMM Grammy Plc, the country's largest entertainment company, is preparing to merge the listed subsidiary GMM Media Plc (GMMM) into the parent as part of its business restructuring.
Shares of TPI Polene Plc (TPIPL), the country's third-largest cement maker, were suspended from trade yesterday on the Stock Exchange of Thailand pending clarification of an outstanding 6.9- billion-baht fine against the company.
HEALTH CARE
Investment spending for public health facilities will be increased to 80 billion baht under the government megaproject programme, Finance Minister Surapong Suebwonglee said yesterday.
MINING
Banpu Plc, Thailand's largest coal producer, expects strong demand from coal-importing countries to lift its 2008 revenue 50% over last year's figure to 50 billion baht and is planning to expand production. This year, the SET-listed company expects to produce 20 million tonnes of coal, but chief executive Chanin Vongkusolkit said next year's production would be at least 22.8 million tonnes, reflecting output from Chinese mines.
Consumer confidence rose in July for the first time in four months as easing oil prices and the government's anti-inflation measures to assist the poor helped improve sentiment.
A new calculation method has doubled the Government Housing Bank's non-performing loans (NPLs) to 11.84% of total outstanding credit at the end of June, bank president Khan Prachuabmoh said yesterday.
FUTURES MARKET
Leading gold traders will be offered the chance to apply as brokers and market makers for the Thailand Futures Exchange when trading in gold futures begins next month. Gold futures will be the third product traded on the TFEX, after SET50 index futures and options.
AGRIBUSINESS
The government yesterday signed a letter of intent to sell 100,000 tonnes of 25% white rice a year under a three-year contract with Djibouti as part of its plan to liquidate its 2.1-million-tonne stockpile by the end of September.
AGRIBUSINESS
Falling crop prices should help reduce inflationary pressure in the near future, said Prasarn Trairatvorakul, the president of Kasikornbank.
CONSUMER FINANCE
Citicorp Leasing (Thailand) Ltd, a unit of Citi Thailand, has introduced its new CitiAdvance consumer finance brand in a push to expand its auto leasing, personal credit, business loans and financial advisory services.
The 2008 Labour Law requiring contracted workers be paid fair benefits has triggered a change in operations among outsourcing firms toward the delivery of work instead of staff, according to the international employment services firm Manpower (Thailand) Co.
BROADCASTING
MCOT Plc, the operator of Modern Nine, Thailand's third most popular TV station, is moving toward entertainment content in anticipation of more advertising revenues and ratings.
HOTELS
The hotel management company Langham Hotels International has announced plans to manage at least five more hotels in Thailand over the next five years. Langham is negotiating to manage 12 hotels and deals to operate three properties in Bangkok are likely to be finalised within this year, executives said at the launch yesterday of The Langham Place in Phuket.
CORPORATE COUNSELLOR
On July 19, 2007, Thailand's new Computer Crimes Act (CCA) took effect. CCA Section 26 made data retention mandatory for all service providers, who would be required to keep records of their users' e-mail, chat, internet usage and personal identification for a minimum of 90 days. The details of this mandatory data retention were left to the Information and Communication Technology (ICT) Ministry.
Thai Tap Water Supply Plc, the country's largest private tap water producer, is considering two options to restructure its 10-billion-baht long-term debt to ease financial costs.
RETAILING
The home-improvement market is expected to decline in the second half of this year due to high inflation and a sluggish economy, according to Home Product Center Plc (HMPRO), the operator of HomePro hardware stores.
MEDICAL SERVICES
Bangkok Dusit Medical Services (BGH) the country's largest hospital operator, expects its bottom line will double this year from the 2007 level despite pressure from a poor economy, the higher cost of living and its own price freeze.
COMMUNICATIONS
Samart Corporation will introduce another new mobile handset brand this month in an effort to tap the premium market and offset a decline in sales of its low-margin i-Mobile brand.
IN BRIEF
BANKING / Non-performing loans in the banking system fell slightly in the second quarter thanks to progress in debt restructuring.
