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IN Brief
OBITUARY :Kraisri Chatikavanij, the chairman of Thai Central Chemical Plc, passed away late Wednesday. He was 78.
Mr Kraisri, the father of Democrat MP Korn Chatikavanij, was a career technocrat with the Finance Ministry, and was director-general of the Fiscal Policy Office, the Customs Department and the Treasury Department.
After graduating from Ohio's Miami University and Long Island University, Mr Kraisri joined the Finance Ministry at the invitation of Puey Ungphakorn, former governor of the Bank of Thailand and the first director-general of the Fiscal Policy Office. Among his achievements was being chairman of a committee responsible in 1974 for drafting the Securities Exchange Act, the legal framework that helped establish the Stock Exchange of Thailand.
His civil service career, however, came to an abrupt halt in 1986, when he was accused of tax evasion. The Civil Service Commission ruled in 1988 that no wrongdoing had been committed, and ordered Mr Kraisri reinstated. Prosecutors in 2001 also ordered criminal charges dropped, while the Supreme Court in 2004 dismissed civil charges in the case.
Funeral rites will be held at Wat Thep Sirintharawat at 7 pm until Monday. The cremation is scheduled for Sept 11 at 5 pm.
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Retail market drive
INSURANCE :Thai Insurance aims to continue tapping into retail customers to increase its sales growth in the second half.
Deputy managing director Sombat Anunta said the company was preparing to offer new policies such as cancer and income-protection insurance in the second half.
For the first six months of this year, Thai Insurance reported written premiums of 671.6 million baht, a rise of 10.5% over the same period last year, with motor insurance contributing 414.6 million baht, up 16.2% year-on-year. Non-motor business totalled 257.1 million baht, up 2.2%
The company posted a net profit for the period of 15.8 million baht, down from 27.76 million in the same period last year, partly because of higher operating expenses.
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UVAN seed deal
COMMODITIES :Univanich Palm Oil Plc Plc (UVAN) the country's leading palm oil producer, has received Indonesian government approval to export hybrid oil palm seeds to growers in Indonesia.
Managing director John Clendon said the approval was further recognition of the high quality of raw materials arising from its research.
Indonesia leads the world in oil palm cultivation with 31.2 million rai in production. Its market had been closed to outside seed producers since Indonesia already has many of the industry's best breeding programmes and highest oil palm yields.
Mr Clendon reports strong interest in Univanich's hybrid oil palms, which are now growing in more than seven countries. The company also has a tissue-culture laboratory to produce oil palm clones to further increase capacity of high-quality seeds.
UVAN shares closed yesterday on the SET at 70.50 baht, unchanged, in trade worth 1.1 million baht.
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CS Loxinfo office
PROPERTY :CS Loxinfo Plc has signed a contract to lease 5,600 square metres at CyberWorld Tower on Ratchadaphisek Road for its new headquarters and data centre.
Managing director Anant Kaewruamvongs said the facilities would allow the internet service provider to better serve customers with an efficient high-speed network at the gigabit level.
CyberWorld Tower, developed by TCC Land Commercial Co, is now 95% completed and ready for tenants to start their fit-ins in October. The 51- and 46-storey towers have 60,000 sq m of leasable area.
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Honda issue AAA
FINANCE :Tris Rating has affirmed the AAA ratings for the medium-term guaranteed debentures of Honda Leasing (Thailand) and the T1+ rating for HLTC's short-term guaranteed debentures. An AAA rating was also assigned to proposed issues of three billion baht in 1.5-year and three-year guaranteed debentures. The outlook is stable. The debentures are guaranteed by HLTC's parent, Honda Automobile (Thailand) Co.
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Building law
CORRECTION :A story headlined "EIA-avoidance Loophole Closed", published on page 12 of yesterday's Business section, referred to Clause 39 of the Condominium Act. In fact, the relevant law is Clause 39 of the 2000 Building Control Act.
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