|
|
| • EXCH RATES |
|
Baht/$ 33.92/97 (Bid/Ask)
|
GOLD |
13800
-150
|
|
IN BRIEF
MINING : The coal miner Banpu Plc expects to sell more fuel at higher prices in the next 15 months, helping to drive profit to a record for the third straight year in 2009.
''Coal demand in the region will continue to rise because it is the cheapest alternative to oil,'' CEO Chanin Vongkusolkit said.
Power-station coal prices have doubled in the past year. Banpu has contracted to supply 40% of its 2009 output at higher prices, he said.
Banpu has contracts to sell all coal from its mines in China, Indonesia and Thailand at an average price of about $70 a tonne this year compared with $41 last year, he said.
The company's net profit climbed 48% year-on-year to 4.37 billion baht in the first half of this year. Profit may rise to 14.4 billion baht in 2009 from 9.52 billion in 2008, according to the median estimate of 20 analysts surveyed by Bloomberg.
Banpu shares closed on Friday on the SET at 332 baht, down two baht, in trade worth 110.35 million baht.
-----
Soco producing
PETROLEUM : London-based Soco International Co has started crude oil production of 10,000 barrels a day from its Bualuang block in the Gulf of Thailand.
Soco's Thai unit, Soco Exploration and Production (Thailand), expects to increase daily production to 15,000 barrels as soon as possible.
Soco was granted a nine-year exploration licence for Bualuang Block 8/38 in October 1996 and has spent US$100 million developing the field.
The block, located 110 km off Chumphon covers 376 square kilometres with total proved reserves of petroleum estimated at 17.4 million barrels. The combined capacity of the five producing wells is currently 10,000 barrels per day.
-----
RATCH chief
ENERGY : Ratchaburi Electricity Generating Holding Plc (RATCH) has named Noppol Milinthanggoon as its new managing director. He succeeds Narong Sitasuwan, who will complete his term tomorrow. Mr Noppol, 54, is now an assistant governor in charge of thermal power plant construction with the Electricity Generating Authority of Thailand (Egat), where he has worked since 1975.
-----
Patience advised
INSURANCE : Insurance customers are being encouraged to study their contracts more thoroughly before making any decision to terminate policies, or they risk suffering losses.
Policyholders, particularly for life insurance contracts, should not act hastily and prematurely terminate their plans, said Chantra Purnariksha, the secretary-general of the Office of the Insurance Commission (OIC) said.
She was responding to widespread concern about insurers' health following the financial troubles of AIG, the world's biggest insurer. Local insurers have declared repeatedly that individual companies and the Thai industry overall are financially strong and well regulated.
Ms Chantra said customers with inquiries could call the OIC's insurance product supervisory division at 0-2547-4994 or the 1186 hotline.
-----
EIA approval
PROPERTY : Raimon Land Plc says it has received Environmental Impact Assessment (EIA) approval for its new Pattaya condominium, The Lofts Southshore, from the Office of Natural Resources and Environmental Policy and Planning. The 4.7-billion-baht Lofts Southshore will have 37- and 46-storey towers with 720 units at an average price per square metre of around 120,000 baht. The project will be completed in June 2012.
-----
AACP adds telesales
INSURANCE : Ayudhya Allianz C.P. Life Insurance has opened a new 60-million-baht telesales centre at Chiang Mai to tap the growing business potential in the northern provinces. The centre on Loy Kroh Road in Muang district employs 223 telesales representatives. AACP has other telesales centres in Bangkok, Nakhon Ratchasima and Si Racha.
-----
Reserves up $100m
FINANCIAL DATA : International reserves totalled $101.5 billion as of sept 19, up from $101.4 billion the week before, according to the Bank of Thailand. The net forward position was $14.7 billion as of sept 19, compared with $13.4 billion the week before. Net claims on government were -46.4 billion baht, compared with -20.7 billion the week before. Net policy credits were -1,818.6 billion baht, compared with -20.7 billion. Reserve money was 865.9 billion baht, compared with 864.7 billion the week before.
Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Next
