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INBrief
BANKING :The Government Savings Bank aims to lend two billion baht in personal loans this year under a pilot project marking the state bank's entry into the consumer finance market.
Lersuk Chuladesa, the GSB president and chief executive, said the GSB 3X product was a household or small business loan with interest rates of 12% per year for loans of up to 300,000 baht per borrower.
The bank says GSB 3X offers the lowest interest rate in the country for personal loans, which at other banks range from 16% per year to the legal maximum of 28%.
Borrowers must have a minimum monthly income of 15,000 baht and have held a fixed deposit account with the GSB for at least one year. Deposits will be used as collateral against loans, which will be capped at no more than three times the total amount of deposits in place.The GSB is aiming the GSB 3X product at its fixed deposit customers, with 8,000 projected to sign up within the year. Currently the bank has 265,000 three-, six- or 12-month fixed deposit accounts outstanding, with deposits for the three categories totalling 70 billion baht.
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LNG platform pact
ENERGY :PTT Exploration and Production Plc (PTTEP) has signed a memorandum of understanding with Golar LNG Ltd to develop a floating liquefied natural gas (FLNG) platform venture globally.
The collaboration reflects PTTEP's strategic direction to expand its business to drive its growth from commercialising stranded gas and to secure natural supplies for Thailand, said PTTEP chief executive Anon Sirisaengtaksin.
He said the two companies would jointly pursue investment in FLNG projects worldwide, equally sharing risks and rewards, and studying investment in stranded offshore or close-to-shore gas fields that could benefit from FLNG technology.
PTTEP shares closed on Friday on the SET at 148 baht, unchanged, in trade worth 530.7 million baht.
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Makerhome shifts
PROPERTY :The homebuilder Makerhome Co plans to launch new housing designs to tap the middle-priced segment, targeting total sales of 300 million baht by the end of the year, said managing director Panthep Thanchitikul.
He said demand for housing units priced from 4-8 million baht was increasing this year as supply in this price range was low. Most developers are focusing on condominiums while demand in the midmarket segment is for self-built units.
The company's main market had been units priced from 7-10 million baht. It will offer its new lower-priced designs at the Homebuilder Fair from Aug 20-24. It expects sales growth of 30% by the end of the year.
The new designs will be flexible in terms of unit area with three plot sizes. There will be special areas where customers can choose to have a home theatre, spa, home office or room for elderly family members.
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Sky-High upgrade
BROADCASTING :Sky-High Network, a radio unit of RS Plc, has refreshed the brand image of Max 94.5 Digital Radio as part of its plan to become the most popular station among teenagers within two years.
According to AGB Nielsen, Max 94.5 now ranks third among teens, after Seed 97.5 and Virgin Hits 95.5.
Sky-High managing director Komsan Chetchotisak said the station was renamed to Max 94.5 I Feel Max to differentiate it from rivals and attract new listeners. Apart from the name change, Sky-High will adjust content and presenters and use "emotional marketing".
With the change, the company expects its Max 94.5 will capture more urban customers aged between 12 and 21 years old as a priority target and young working people aged 22-24 years as a second group.
The company expects to earn 100 million baht from Max 94.5 by the end of this year. Currently, Max 94.5 has about 300,000 listeners nationwide, about 70% of them female.
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Reserves off $1bn
FINANCIAL DATA :International reserves totalled $103.1 billion as of Aug 8, compared with $104.1 billion the week before, according to the Bank of Thailand.
The net forward position was $16.3 billion as of Aug 8, compared with $17.1 billion the week before. Net claims on government were 109.2 billion baht, compared with 114.5 billion. Net policy credits were -1,980 billion baht, compared with -1,938.4 billion. Reserve money was 878.5 billion baht, compared with 909.7 billion the week before.
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