What's new in business news: September 17, 2013 | Bangkok Post: learning

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What's new in business news: September 17, 2013

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China rice contract for 1.2 million tonnes questioned, Malaysia to build anti-smuggling wall along Thai river border & SEC fines executives B1.6m for insider trading. 


China rice contract for 1.2 million tonnes questioned


The commerce minister claims that a Chinese state-owned enterprise (Beidahuang) will definitely purchase 1.2 million tonnes of white rice from the Thai government’s stockpile at a good price within the next two weeks. The buyer is also said to be interested in buying 200,000 tonnes of rubber

A Reuters news article on Sept 12 claims that "talks on a government-to-government deal had been taking place with Thailand for some time but nothing had been settled, but also noted that "it is impossible for China to import that much rice as China doesn't need that much." 

Democrat Party leader Korn Chatikavanij questioned the authenticity of the deal and demanded that government show the public the actual contract. The fact that the government is planning to raise the borrowing limit to pay farmers for rice instead of paying with the proceeds of rice sales is said to provide further evidence that is there is in fact no China rice contract

[Read full story here ]


Malaysia to build anti-smuggling wall along Thai river border


Thailand has expressed support for Malaysia's plan to build a wall and fence along the banks of the Kolok River, which separates  Malaysia's Kelantan state from Thailand's Narathiwat province. Thailand already had a similar plan to build a wall and fence along the border

The wall and fence would prevent the smuggling of drugs, firearms and other contraband items as well as preventing criminals escaping across the border. Residents living along the river would not be relocated, but all  illegal jetties would be destroyed and more policemen would be assigned to the area. The livelihoods of people living along the border would likely be affected by the proposed plan but the wall is necessary for national security both sides agree. 

[Read full story fence" >here ]


SEC fines executives B1.6m for insider trading

The Securities and Exchange Commission (SEC) has assessed 1.65 million baht in fines on three people for their use of inside information to buy stock shares.  

Mr Swake Srisuchart, chairman of the board of Power Line Engineering Plc (PLE) used non-public information concerning PLE to buy 5 million PLE shares in 2010 using other people's securities accounts .

Mr Swake had knowledge of the company's first-quarter operating profit of 184.10 million baht, a marked improvement on a year-earlier net loss of 223.23 million baht and a prior-quarter net loss of 403.75 million baht (due to cash received from written-off foreign accounts receivable and disposal of non-operating land).  

Two others in the case were found to have aided and abetted Mr Swake's wrongdoing. All three agreed to a settlement procedure and ended up paying fines of 985,849.53 baht for Mr Swake and 333,333.33 baht each for Ms Usavadee and Mr Perayuth.

[Read full story fines" >here ]

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account: being recorded officially as a customer of a business - บัญชี

accounts receivable: the amounts of money that are owed to a business by its customers (debtors) shown as an asset on the balance sheet, the name of the department in a company that collects money from the company's debtors - บัญชีลูกหนี้, ลูกหนี้การค้า

actual: real; existing in fact - จริง

aid and abet: the crime of helping other people commit a crime - ช่วยเหลือ (คนทำผิด)

anti: against - ตรงกันข้าม, ต้าน

assess: to carefully consider a situation, person, or problem in order to make a judgment - ประเมิณ, ประเมิณสถานการณ์

assign: to give someone a job to do - มอบหมาย, สั่งงาน

bank: a raised area of land along the side of a river - ริมฝั่งแม่น้ำ

board: a group of people who have the responsibility of managing important business or government activities - คณะกรรมการ

border: the official line separating two areas, regions or countries - เขตแดน อาณาเขต

borrow: to take money from a bank, financial organisation, person, etc. and pay it back over a period of time - ยืม

case: a matter that is being officially investigated, especially by the police - คดี

cash: money - เงินสด

chairman: the person in charge of a committee, a company, etc - ประธาน

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

concern: to be about - เกี่ยวกับ

contraband: goods that are brought into or taken out of a country illegally - สินค้าเถื่อน, ของเถื่อน, สินค้าที่ถูกลักลอบเข้ามาอย่างผิดกฎหมาย

contract: an official written agreement - สัญญา

criminal: someone who has committed a crime, i.e., someone who has carried out an illegal activity or action - ผู้ที่ทำผิดกฎหมาย

deal: a formal agreement, especially in business or politics - ข้อตกลง, การตกลงซื้อขาย, การซื้อขาย

definitely: without any doubt; for certain - อย่างแน่นอน

disposal: getting rid of something, by selling it or throwing it away - การกำจัด

drug trafficking: the business of buying and selling drugs illegally - การลักลอบค้ายาเสพติด

due to: because of - เนื่องจาก

end up: to be in a certain situation or place after doing something - ลงท้าย, ในที่สุด, ลงเอย

enterprise: an organization, especially a business - กิจการ, บริษัท,อุตสาหกิจ,วิสาหกิจ

escape: to get away from a place where you are in danger - หนี

evidence: facts, signs or objects that make you believe that something is true - หลักฐาน,ข้อแสดง

express: to tell someone about a feeling, opinion, or aim by speaking or writing about it - แสดงออก (ทางความคิดหรือความรู้สึก) โดยใช้คำพูดหรือการเขียน, พูดออกมา

fence: a structure made of wood or wire supported with posts that is put between two areas of land as a boundary, or around a garden/yard, field, etc. to keep animals in, or to keep people and animals out - รั้ว

fine: an amount of money that you have to pay because you have broken the law - ค่าปรับ

firearm: a gun of some type - อาวุธปืน

illegal: against the law - ผิดกฎหมาย, นอกกฎหมาย

impossible: something that cannot happen - เป็นไปไม่ได้

improvement: when something gets better or when you make it better - การปรับปรุง, การทำให้ดีขึ้น

inside information: information about a company that only people "inside" the company (insiders) such as high-level managers know about and can use to profit by selling and buying stock shares of the company -

insider trading: illegally buying or selling stocks based on information not available to the public -

knowledge: all the facts that people know about a subject (example: medical knowledge) - ความรู้

limit: the greatest or smallest amount of something that is allowed - ขีดจำกัด

livelihood: (the way someone earns) the money people need to pay for food, a place to live, clothing, etc - การดำรงชีวิต, การครองชีพ

mark: a level or point that something reaches that is thought to be important - ความสำคัญ

national security: the protection or the safety of a country’s secrets and its citizens - การรักษาความมั่นคงแห่ง่ชาติ

necessary: essential, needful, something that you must do or have - จำเป็น, ซึ่งเลี่ยงไม่ได้, ซึ่งเป็นที่ต้องการ, สำคัญ

operating: carrying out an activity - ดำเนินการ

prior: before - ก่อนหน้า

procedure: a way of doing something - ขั้นตอนการดำเนินการ

proceeds: money gained from some activity - รายได้

profit: money that you make from selling goods and services after all your costs have been paid - กำไร

proposed: suggested as an idea for a group to consider - ถูกเสนอ

province: on of many divisions of the government of a country into smaller parts - จังหวัด

public: open to people in general - สาธารณะ

public: open to people in general; intended to be seen or heard by people in general - อย่างเปิดเผยให้รู้

purchase: the process of buying something - การซื้อ

quarter: three months of the year on the official calendar of the government or companies -

question: to have or express doubts or suspicions about something - สงสัย

relocate: to move someone or something to another place - โยกย้ายประชาชนออกจากบริเวณ

resident: a person who lives in a particular area - ผู้ที่อาศัยในท้องที่

rubber: a bouncy, elastic material used in car tires and waterproof gloves - กล้ายาง

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

security: financial assets such as stock shares or bonds - หลักทรัพย์, พันธบัตร, หุ้น, หลักทรัพย์ค้ำประกัน

separate: to keep or put apart - แยก

settle: to decide or arrange something - ตัดสินใจ

settlement: a formal agreement that ends a disagreement - ข้อตกลง, การทำข้อตกลง

share: any of the units of equal value into which a company is divided and sold to raise money. People who own shares receive part of the company's profits - หุ้น

side: team; one of the two or more people or groups taking part in a competition, argument, war, etc - ทีม, ฝ่าย, พรรค

similar: like somebody/something but not exactly the same - คล้ายกัน

smuggle: to take drugs, money, people, etc. to or from a place secretly and often illegally - ลักลอบนำเข้า

stockpile: a large collection of things that may be needed - สิ่งที่เก็บสะสมไว้ คลังสินค้า

supporter: a person who helps and supports a person, organization or idea - ผู้สนับสนุน

take place: to happen - เกิดขึ้น

trade: the buying and selling of goods and services - การค้าขาย

wall: any of the vertical sides of a building or room; a long vertical solid structure, made of stone, brick or concrete, that surrounds, divides or protects an area of land - ผนังห้อง; กำแพง

write-off: a situation in which an asset loses some or all of its value and entries are made in the accounting system and the loss shows in financial reports of the company - การลงบัญชีเป็นหนี้สูญ,การลดมูลค่าในบัญชี,การเสื่อมค่า

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