What's new in business news August 14, 2013 | Bangkok Post: learning

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What's new in business news August 14, 2013

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Koh Samui as model low-carbon tourist destination, PTT denies Myanmar bribery claim & used car bad loans up due to first car buyer program. 

General view of Koh Samui. (Bangkok Post file photo)

TOURISM

Koh Samui has been chosen by the Asia-Pacific Economic Cooperation group to become a model low-carbon tourist destination over the next 3-5 years.

Rapid growth resulting from the tourism boom on the island has caused Koh Samui to face serious energy shortages.

For one, air conditioners in hotels account for half of a hotels' power consumption.

The island suffered a three-day electricity blackout last year, while there have been problems with wastewater treatment as well.

Koh Samui obtains all of its electricity from the mainland, with consumption increasing by 20% each year.

The electricity supply has been increased but this is expected to support the island's growth for no more than a decade.

Strategies to achieve low-carbon tourism will include zoning to control land use as well as developing public transportation & alternative energy sources such as solar energy and energy from waste.

Some green hotels already work to reduce carbon emissions and can raise their room rates because they are more attractive to tourists. [Read rest of article here]

BANKING 

Banks still stable as Non-Performing Loans increase

An increase in non-performing loans (NPLs) for automobiles in the second quarter can be attributed mainly to used-car owners.

The sharp fall in used-car prices came after the government offered a tax rebate for first-time car buyers which has eroded bank's asset quality.

There has been an increase in NPLs, but this is not a major concern destabilising financial institutions, as the current NPL rate is not high compared with bank loans, and commercial banks have prepared enough loan-loss reserves to cushion against future financial risks. [Read rest of article here]

CORPORATE GOVERNANCE

PTTEP rebuffs Myanmar bribery claim

PTT Exploration and Production (PTTEP), Thailand's sole SET-listed upstream petroleum company, denies transparency and bribery allegations related to its acquisition of MD7 and MD8 blocks in Myanmar's Martaban Sea.

Chief executive Tevin Vongvanich responded yesterday to a report on the Myanmar Times website by saying PTTEP has a policy of not paying bribes in exchange for exploration and production licences.

The company is a publicly listed company with a lot of auditors such as the Office of the Auditor-General of Thailand, as well as shareholders and the Securities and Exchange Commission (SEC) and strictly adheres to transparency when doing business. [Read rest of article claim" >here]

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Vocabulary:

account for: to be the explanation or cause of something - เป็นเหตุผลของ

acquisition: the process of buying something; something that has been bought - การซื้อ, การได้มาซึ่งการเข้าถือสิทธิ์

adhere to: to obey a rule, law, agreement, etc. - ทำตามกฎหมาย

allegation: an accusation; a statement that someone has done something wrong or illegal even though this has not been proved - ข้อกล่าวหา

asset: something owned by a person, company etc., particularly money and property - ทรัพย์สิน

attribute to: to believe that something is the result of a particular situation, event, or person’s actions - ถือว่าเป็นของ

auditor: someone whose job is to officially examine the financial records of a company, organisation, or person to see that they are accurate - ผู้สอบบัญชี

blackout: a sudden loss of electrical power - ไฟดับ

boom: a sudden increase in trade and economic activity; a period of wealth and success - ความเจริญรุ่งเรืองทางเศรษฐกิจ

boom: a long pole - ไม้ขวางที่ผูกข้างเรือ

booming: suddenly increasing in trade and economic activity - เฟื่องฟู

bribery: the crime of giving money or presents to someone so that they will help you by doing something dishonest or illegal - การให้สินบน

claim: saying that something is true although it has not been proved and other people may not believe it - ข้ออ้าง ข้อกล่าวหา

commercial bank: a bank with branches in many different places, that provides a range of services, especially related to bank accounts, loans and saving money, for people and businesses; the kind of bank that most people use - ธนาคารพาณิชย์, สถาบันการเงินที่มุ่งเน้นการรับฝากเงิน

concern: a worry - ความกังวล

consumption: the act of using energy, food or materials; the amount used - การบริโภคพลังงาน, การใช้หมดไป

current: of the present time - ปัจจุบัน

cushion: something that protects you against something unpleasant that might happen - สิ่งที่ช่วยบรรเทา

decade: a period of ten years - ทศวรรษ, ระยะเวลา 10 ปี

deny: to not allow someone to have or do something - ไม่ยอมรับ, ปฏิเสธ

destabilise: to make a system, country, government, object etc. become less firmly established or successful - ทำให้ไม่มั่นคง

destination: the place where someone or something is going - จุดหมายปลายทาง

develop: the gradual growth and improvement of something so that it becomes more advanced, stronger and successful - พัฒนา

erode: to weaken; to gradually reduce the value, importance or level of something -

exploration: when you search and find out about something - การสำรวจ, การค้นหา

financial: involving money - เกี่ยวกับเงิน, ทางการเงิน

financial institution: a business which helps its customers manage money, e.g., a bank, insurance company, etc. - สถาบันการเงิน

growth: economic growth, an increase in economic activity - การเติบโต

licence: an official document that gives someone permission to do or use something - ใบอนุญาต

listed firm: a public company, i.e., a company that offers its shares to the public on a stock exchange - บริษัทมหาชน

loan: an amount of money that a person, business, or country borrows, especially from a bank - เงินกู้

loan-loss: money that a bank loses because a borrower does not pay back a loan -

low-carbon economy: A low-carbon economy (LCE) is an economy that has a minimal output of greenhouse gas (GHG) emissions into the environment. Scientists are concerned about the negative impacts of climate change on humanity in the foreseeable future. Globally implemented LCEs are therefore proposed by those having drawn this conclusion, as a means to avoid catastrophic climate change, and as a precursor to the more advanced, zero-carbon society and renewable energy economy. France has the lowest carbon dioxide production per unit of GDP in the world. -

mainland: a large mass of land that forms the main part of a country but does not include any islands belonging to the country - แผ่นดินใหญ่

major: very large or important - สำคัญมาก

model: a person or thing that is considered an excellent example of something - แบบอย่าง, บุคคลตัวอย่าง

non-performing loan (NPL): a loan that is not being paid back as arranged and may never be paid back; a non-performing loan (NPL), bad debt - หนี้เสีย, หนี้สูญ, หนี้ที่ลูกหนี้ไม่ยอมชำระตามกำหนด

obtain: to get something that you want or need, especially by going through a process that is difficult - ได้มา, ได้รับ

petroleum: oil coming from the ground - น้ำมันปิโตรเลียม, น้ำมันดิบ, น้ำมันจากดิน

production: the process of growing or making food, goods or materials, especially large quantities - การผลิต

public transportation: transportation such as buses, trains and subways that large numbers of people can use at the same time; mass transportation - ขนส่งมวลชน; เคลื่อนย้ายคนจำนวนมากจากที่หนึ่งไปยังอีกที่หนึ่ง

publicly: intending to be seen or heard by people in general - อย่างเปิดเผย

quality: the standard of something when it is compared to other things like it; how good or bad something is - คุณภาพ

rapid: happening quickly - อย่างรวดเร็ว

rebate: an amount of money that is taken away from the cost of something, before you pay for it - ส่วนลด, เงินภาษีที่ต้องคืนให้

rebuff: refuse or reject something that someone has said or done - บอกปัด, ปฏิเสธ

reserves: in accounting, money that a company keeps from its profits to deal with possible expenses and problems in the future - ทุนสำรอง

risk: the possibility that something dangerous or unpleasant might happen - ความเสี่ยง

Securities and Exchange Commission: the government agency, under the Finance Ministry which oversees and regulates Thailand’s capital markets. - คณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์

shareholder: a person who owns some of the equal parts into which the ownership of a company is divided - ผู้ถือหุ้น

sharp: sudden and rapid, especially of a change in something - ฉับพลัน, กะทันหัน

shortage: when there is not enough of something - การขาดแคลน

sole: only - เดี่ยวๆ

stable: not changing frequently and not likely to suddenly become worse - คงที่, มั่นคง

strategy: a plan or method for achieving something, especially over a long period of time - ยุทธวิธี, แผนการ  

strictly: completely - อย่างเข้มงวด

suffer: to be badly affected by a very difficult or unpleasant situation - ประสบความลำบาก

supply: an amount or quantity of something that is available to buy or use; use the amount of a good available in a market to buy - อุปทาน

transparency: an honest way of doing things that allows other people to know exactly what you are doing - ความโปร่งใส

treatment: a process in which a substance is put on something, for example in order to preserve or clean it - การใส่ (สารเคมีเป็นต้น)

upstream: in an early stage of making, building or manufacturing some good or product - อุตสาหกรรมต้นสาย

wastewater: water that has been used already and thrown away - น้ำที่ใช้แล้ว, น้ำทิ้ง

zoning: when government controls how the land is used in different areas of a city or country, limiting some areas to homes, other areas to stores and yet other areas to factories - การแบ่งเขต: การแบ่งอาณาเขตของประเทศหรือเมืองหนึ่งๆ ออกเป็นเขตต่างๆ เพื่อประโยชน์ในการใช้พื้นที่ให้เหมาะสม เช่น แบ่งเป็นเขตผลิตเพื่อการส่งออก เขตโรงงานอุตสาหกรรมหนัก เขตที่อยู่อาศัย เขตเกษตรกรรม เป็นต้น สำหรับธุรกิจต่างๆ อาจใช้การแบ่งเขตเพื่อประโยชน์ในการควบคุม การบริหาร และการดำเนินงาน เช่น ผู้จัดการธนาคารในภูมิภาคหนึ่ง จะได้รับการแบ่งเขตให้ดูแลธนาคารสาขาย่อยในเขตนั้นๆ [สิ่งแวดล้อม]

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