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Energy Ministry invests Bt40m
to promote gasohol
Realizing that gasohol consumption in Thailand is still
below the desired target, the Ministry of Energy plans to spend another Bt40
million on producing advertisements and launching public campaigns to boost
the popularity of the oil among the motorists, a ranking ministry official
said recently.
Chavalit Pichalai, deputy director-general of the Energy Policy and Planning
Office, said the ministry had already spent a sum of approx. Bt40 million on
ads and campaigns to stimulate motorists to switch to using gasohol but that
a similar amount was required for further ads and promotion.
A survey conducted this April found that about half of the owners of
automobiles manufactured after 1995 and which could easily use gasohol are
still reluctant to use the alternative fuel, Mr. Chavalit said.
Even though the price of gasoline is higher than gasohol at about
Bt2.70-3.30 a litre, motorists still do not have full confidence to fill
their tanks with the latter so there is a need for the ministry to launch a
fresh campaign, he said.
The ministry believes that sales of gasohol will rise to 10 million litres
per day by the end of this year against an earlier forecast of about 8
million liters daily - if motorists gain more confidence in using the fuel.
Despite the advertising campaign, however, it is difficult to see the
ministry’s target being achieved. Currently, daily sales of gasohol only
stand at about 4.3 million litres. (TNA)
Thailand still favoured by Asian,
American investors
The Thai government’s latest Board of Investment (BoI) survey
shows that foreign investors - especially from Japan, Taiwan, Singapore and the
United States - remain confident of Thailand’s potential.
BoI Secretary General Satit Charnjavanakul said that his office had assigned
Chulalongkorn University’s Sasin Graduate Institute of Business Administration
to conduct the survey in February-March 2007.
Mr. Satit said 2,500 questionnaires were distributed, but only 514 organisations
responded.
Of those who did respond, almost half (43 per cent) showed confidence in
Thailand’s potential and indicated they would maintain their investment at the
same level.
Meanwhile, 35 per cent of the responding investors planned to expand their
current investment in Thailand. The responding investors, mainly from Japan,
Taiwan, Singapore and the United States, cited their confidence regarding
improved exports and growing sales volumes in the second half of the year.
Still, 4 per cent of the respondents stated they were considering downsizing
their businesses in Thailand or moving their ventures to other countries.
Referring to a comparison of Thailand’s potential with that of other four key
competitors - China, India, Vietnam and Malaysia, Mr. Satit stressed that
Thailand still maintains high competitiveness in terms of investment
infrastructure, logistics and intellectual property protection.
However, the BoI chief said, Thailand’s investment privileges might be inferior
to those of China, equal to those of Vietnam, and superior to the incentives
offered by India and Malaysia.
Moreover, Satit said that Thailand was ahead of its competitors in terms of oil
prices, financial measures and relaxing foreign exchange rules. (TNA)
Raimon Land awards construction
contract for Northpoint project
Pattaya’s most sought-after freehold condominiums to be built to world-class standards
(L-R): Bouygues Thai Managing
Director Mr. Jean Marie Verbrugghe; Jacques Devaux, Projects Director; Patrice
Bard, Project Manager; Mr. Gerry Healy, Project Director and Raimon Land CEO Mr.
Nigel Cornick at the recent construction contract award ceremony.
Publicly listed residential developer Raimon Land has
announced the award of the construction contract for the Northpoint project at a
recent signing ceremony in Bangkok.
The construction management contract valued at Baht 2.4 Billion has been awarded
to Bouygues Thai Ltd., the premier construction company in the Kingdom, with a
successful track record including Raimon Land’s projects: The Lakes and The
Legend Saladaeng.
Since its launch in November 2006 the Northpoint project has redefined the
condominium market on the Eastern Seaboard and raised the bar in terms of
amenities, quality, luxury and location. Demand at Northpoint is so strong that
units bought just a few months ago are already enjoying significant
appreciation. Buyers come from Europe, Hong Kong and Singapore but also from
Bangkok residents who seek an easily accessible, beachfront weekend getaway.
More information on the Northpoint project can be found at www.northpointpattaya
.com, which was recently voted Best Real Estate website in Thailand.
Thanachart Securities, BNP Paribus plan investment roadshows
Thanachart Securities has teamed up with BNP Paribus
Securities Services to lead 10 leading listed companies on the Stock Exchange of
Thailand (SET) in roadshows in Europe, the United States and Asia.
Asavinee Tailangka, president of Thanachart Securities, said the company and BNP
were taking executives of Amata Corporation, Asian Property Development,
Advanced Info Services, Krung Thai Card, Glow Energy, Thanachart Capital,
Ratchaburi Electricity Generating Holding, Bangkok Expressway, Charoen Pokphand
Feedmill, and MCOT to present corporate information before investors in Italy,
London, New York and Boston during June 18-29.
In addition, they plan road shows in Hong Kong and Singapore by taking
representatives of listed companies to participate in a Thai Corporate Day
event, which is part of the Asian Conference held twice a year by BNP Paribus
Asia.
Asavinee said the road shows had drawn much attention from many foreign
investors. In the first five months of this year, she added, the Thai capital
market had been a centre of attention for foreign investors, who had accumulated
a net buy of over Bt66.59 billion on the SET. (TNA)
Thai AirAsia execs buy out all Shin Corp held shares
Six senior executives of no-frills airline Thai AirAsia
announced last week that they had bought all the shares in the airline
previously owned by Shin Corp, founded by ousted prime minister Thaksin
Shinawatra.
Tassapon Bijleveld, chief executive officer of the airline, along with five
other executives jointly told a press conference last Thursday that they had
purchased 51 per cent of the shares in the company held by businessman
Sittichai Veerathummanoon and 49 per cent held by Shin Corp.
Following the share purchase, Mr. Tassapon said he would now own 55 per cent
of all Thai AirAsia shares, another four executives would each hold 10 per
cent and the remaining executive would have 5 per cent holding.
Mr. Tassapon said the slightly more than Bt1 billion deal was financed with
a loan from Credit Suisse and that Thai AirAsia would pay interest for three
years before the company is listed on the Stock Exchange of Thailand. The
listing on the Thai bourse is aimed at mobilising funds to repay the debt in
future.
According to the Thai AirAsia CEO, the acquisition will send a message to
the public that Thai AirAsia is not linked to politics, he said. (TNA)
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