Sentiment for SMEs drops after falls in sales
The Small and Medium Enterprises’ Trade & Service Sentiment Index (TSSI) dropped to 96.4 points in May, from 101.2 in April, said the Office of SMEs Promotion’s director general, Salinee Wangtal, yesterday.
The decline follows a drop in sales, investments and net profits at small and medium-sized enterprises in May, from April, she said.
BIG C OFFER SUBMITTED
Berli Jucker reported on Thursday that its subsidiaries BJC Supercenter Co and Saowanee Holdings Co have submitted a tender offer for Big C Supercenter Plc. This follows Berli Jucker’s board meeting on May 12 that gave approval for a tender offer for all the securities of Big C Supercenter.
DELISTING CAUSE CITED
The Stock Exchange of Thailand yesterday reported an additional cause for the possible delisting of Bangkok Rubber, effective yesterday. The Central Bankruptcy Court had ordered BRC’s assets to be placed under receivership.
That counts as another reason for a delisting according to Article 9(8) of the SET’s regulations for the delisting of securities.
PTT UNIT’S NEW NAME
PTT Plc has changed the name of its 20 per cent owned subsidiary PTT ICT Solutions Co to PTT Digital Solutions Co. The company provides information technology and communications services.
In yesterday’s edition, we incorrectly reported that Wilasinee Phiphitkul was acting director-general of Thai PBS before being selected to head the public television station. She was in fact a former deputy managing director of Thai PBS. We regret the error.
Bigger oil companies
well-placed, says Moody’s
Moody's Investors Service expects Asian investment-grade exploration & production players, particularly national oil companies, to be well-positioned to withstand the volatility in oil prices in view of their robust liquidity profiles and strong access to capital, according to Moody’s latest edition of Asia Oil & Gas Quarterly released yesterday.
Articles featured include one that focuses on the ability of downstream companies to respond to volatile oil prices and another on the prospects for upstream acquisitions.
Rachel Chua, a Moody’s assistant vice president and analyst, said upstream acquisitions will likely pick up as oil prices stabilise within our anticipated band of US$40-US$60 per barrel for both Brent and West Texas Intermedite crude, with companies seeking opportunities to buy assets at relatively low prices to strengthen their production and reserves profiles.
Moody's also expects that refiners’ earnings in the second quarter will decline marginally in line with the weaker refining margin environment.
The recent month-on-month volatility in refining margins was driven by an increase in supply in May after scheduled refinery maintenance. In June, the strong margin performance was supported by the strong fuel oil crack spread.
AEON Thana Sinsap
boosts profit 20%
AEON Thana Sinsap (Thailand) has posted net profit of Bt618 million for the first quarter of this fiscal year, up 20 per cent from the same period last year, according to a company filing with the Stock Exchange of Thailand yesterday.
For the period, from March to May, the company reported its non-performing loans amounted to Bt1.15 billion, a drop of 7 per cent from the same period last year thanks to its efficiency in collecting debts and tighter conditions on new loans.
AirAsia woos corporate
travellers with options
AirAsia plans to launch MyCorporate, a suite of products for the business traveller.
MyCorporate consists of three bundle options, depending on the requirements of the traveller and the company budget: Fare Only, Corporate Lite and Corporate Full Flex.
The Fare Only product is the air fare only, with all add-ons available for a fee. The Corporate Lite bundle includes air fare, a complimentary meal, standard seat assignment and dedicated check-in counter. The Corporate Full Flex bundle includes the air fare and a complimentary meal,
AirAsia Group CEO Tony Fernandes said that the MyCorporate programme serves the needs of both passengers and the company in capturing this segment.
EASTW holds on to
‘A+’ ratings from TRIS
TRIS Rating has affirms the company rating of Eastern Water Resources Development and Management (EASTW) and the ratings of EASTW’s senior unsecured debentures at “A+”.
TRIS said the ratings reflect EASTW’s strength as the sole raw water provider with a comprehensive pipeline network in the Eastern Seaboard area, low operating risk, and reliable cash flows.
“These strengths are partially offset by the unpredictable effects of climate change, customer concentration risk, and a degree of regulatory risk surrounding the water resource management policies,” the agency said. “Policy changes could affect EASTW’s operations.”
Tuk-tuks get Siam
Food Festival moving
Siam Piwat’s senior executive vice president Naratipe Ruttapradid and Noppadon Pakprot, deputy governor for tourism products and business at the Tourism Authority of Thailand yesterday presented a parade of tuk-tuks, the kingdom’s iconic three-wheelers, to promote the Siam Food Festival.
The event, which showcases famous dishes from the Siam region, is being held until July 10 at Parc Paragon in Siam Paragon.