- HEADLINES [click on headline to view story]:
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Raimon Land launches new user-friendly website
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Thailand’s state-owned banks seek capital increase support
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Thai household debts nearly double in seven years
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Finance minister sets sights on raising foreign investment
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Raimon Land launches new
user-friendly website
Raimon Land, a leading developer of luxury condominiums in Bangkok and
Thailand’s holiday resorts, has launched a new corporate website at
www.raimon land.com. The company says the new site is easier for all users
to navigate and get the information they are looking for.
 This
photo shows a screenshot of property developer Raimon Land’s new interactive
website.
The new website is structured in five parts: 1/ Corporate profile:
strategy, management and background; 2/ The properties: with details
and interactive map of all past, current and future Bangkok and resort
properties – including The River in Bangkok and Northpoint in Pattaya; 3/
Investor relations: share price ticker, latest investor news, easy
access to the latest quarterly analyst presentations, fact sheets and a five
year financial summary; 4/ Market research: including Raimon Land’s
Condominium Focus publication and ‘Why Invest…Pattaya’; 5/ Media centre:
press releases, clippings and interviews.
Nigel J Cornick, Raimon Land’s Chief Executive Officer, commented on the new
site: “Raimon Land is improving and streamlining its corporate communication
and investor relations programmes in line with international best practice.
The objective is to achieve more effective and more transparent
communication with customers, investors and other stakeholders. The new
website is consistent in style and content to our forthcoming annual report
and corporate profile, both of which will come out at the end of April.”
Thailand’s state-owned banks seek capital increase support
The Kingdom’s state-owned banks are set to seek support for a
capital increase of more than Bt20 billion (US$636.4 million) to accommodate
implementation of the government’s economic stimulus package.
Areepong Bhucha-oom, director-general of the State Enterprise Policy Office,
revealed last Sunday that state-owned financial institutions (SFI) set a target
to lend Bt1.05 trillion ($33.5 billion) for this year.
Of this, Bt495.2 billion is targeted by the Government Savings Bank, Bt 200
billion by Krung Thai Bank, Bt120 billion by the Bank for Agriculture and
Agricultural Cooperatives, Bt95 billion by the Government Housings Bank, Bt61.3
billion by the SME Development Bank, Bt58.5 billion by the Export and Import
Bank of Thailand, and Bt15.56 billion by the Islamic Bank of Thailand.
In addition, SFI has demonstrated a need to raise its combined capital by Bt20.9
billion in preparation for the implementation of the government’s economic
stimulus measures.
Of this amount, Bt10 billion is needed by the GHB to extend housing loans for
low-income people, Bt1.8 billion baht by BAAC to increase its capital fund to
meet business expansion, Bt5 billion baht by the EXIM Bank to expand loans for
exporters and local investors, and Bt3 billion baht by the SME Bank to
accommodate its plan to solve non-performing loans.
Additionally, the Secondary Mortgage Corporation had sought a capital increase
of Bt600 million to support the capital market development and accommodate
business expansion and the Small Industry Credit Guarantee Corporation Bt500
million to accommodate its implementation of projects initiated under the
government’s policy. (TNA)
Thai household debts nearly double in seven years
Thailand’s average household debt rose to Bt116,681
(US$3,700) per family last year from Bt68,405 (US$2,166) in 2000, almost double
the amount, according to Thailand’s National Statistical Office (NSO).
The increase was attributed to several factors, ranging from low interest rates
and an increase in personal loans offered by financial institutions. However,
debts for consumption comprised about 60 per cent of total household debts.
According to the NSO, debts against average income per household increased to
5.6 times in 2004 and slipped to 6.6 and 6.3 times in 2006 and 2007
respectively.
Household debts during the period totaled 16 per cent of total assets, still
lower than a number of countries. In the US, Columbia and the Czech Republic for
example, household debts stood at 30, 18 and 27 per cent respectively.
At the end of 2007, non-performing loans (NPLs) for private consumption taken at
financial institutions stood at 4.1 per cent, down from 4.8 per cent from one
year ago, and this was considered still low when compared to 7.3 per cent of
total NPLs for all business sectors.
Despite the sharp increase in household debts in 2007, the Bank of Thailand said
the majority of the debts resulted from the purchase of movable property or
fluid capital and they were still “within manageable” limits and that the
problem was not serious.
Most of such debts were seen in low-income families with low education who
depended on loan sharks, the central bank said. (TNA)
Finance minister sets sights on raising foreign investment
London (TNA) – Thailand’s Deputy Prime Minister
and Finance Minister Surapong Suebwonglee has set a target to increase
investment by British, European, and American investors in Thailand to one
trillion baht (US$317 billion) within two years.
The deputy premier set the target during his road show in London last week
in which he and a team of top executives of listed companies met for
discussions with over 50 British and European investors and fund managers.
Provided that investors receive accurate information on doing business in
Thailand, they would increase the investment weight in the country to one
trillion baht in the next 1-2 years, said Surapong.
He said the investors had responded positively to the road show in which
government representatives and executives of listed firms participated to
give information openly and freely, which in turn allowed investors the
chance to analyse the data before venturing into the Thai stock market.
“Foreign investors are happy if they are given an opportunity to get
information from experts directly and enquire about issues on which they are
unclear. We give them information directly and frankly,” he said.
Surapong reiterated that the government would accelerate investing up to 1.5
trillion baht in mega-projects, particularly the construction of electric
mass transit rail routes, which is key to stimulating the private investment
sector and driving the overall economy.
He cautioned however that the government would implement the projects with
the strict monetary and fiscal discipline.
Pichai Chunhavajira, senior executive vice president of PTT Plc, said most
investors had enquired about the political situation in Thailand and the
government’s policy to stimulate consumption and investment. They paid much
attention to the planned construction of mega-projects which they viewed
would help boost confidence.
Wasan Paileeklee, president of Thailand’s state-owned broadcast company MCOT
Plc, said foreign investors were interested in enquiring about his company’s
future plans and strategy as they viewed MCOT to be in a strong financial
position, and one that offered high dividend yields. He said investors were
buoyed by the company’s better performance in the first quarter of this year
and its projection of 15 per cent growth for the year overall.
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