INDUSTRY
Thailand's second largest hot-rolled steel maker, G Steel Plc, has entered official negotiations with Mitsui & Co, the world's biggest steel trader, for a share acquisition proposed by the Japanese firm.
SEAFOOD
Thai Union Frozen Products Plc (TUF) and two of its units have been ordered to pay a US food company $4.5 million plus legal fees in a trade-secrets case. Contessa Premium Foods Inc sued two of its former employees and TUF for trade-secret theft in California state court in Los Angeles in February 2006.
ECONOMY & INVESTING
Share prices tumbled across the globe yesterday amid investor fears about the growing global market impact of the meltdown in the US financial sector.
DAIRY PRODUCTS
Leading dairy-product manufacturers called on the government to launch a national campaign to help restore consumer confidence in dairy products after the tainted milk scandal in China.
The Finance Lawyer
Risk allocation in a civil engineering contract for a Thai infrastructure project might not match the norm of international construction contracts, even though the projects often involve international financing.
FINANCIAL CRISIS
Bangkok Bank will book additional provisions in the third quarter to cover investment losses from the bankruptcy of Lehman Brothers. Kulathida Sivayathorn, a BBL executive vice-president, said the bank's provisioning in the third quarter would be ''significantly higher'' than in the second quarter to account for the bank's investments in senior unsecured bonds issued by Lehman Brothers.
TRADE
BRUSSELS : A European Union trade negotiator has expressed optimism that Brunei, Singapore and Thailand could sign separate trade pacts before the present trade commissioner's mandate expires in October next year.
Lehman Brothers intends to divest its 7% stake in Ascon Construction, according to Pattanapong Tanumathaya, the chief executive officer of the SET-listed contractor.
The government should set up a fund to help exporters find new markets to offset the steepening downturn in developed economies, said the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).
BANKING
TMB Bank aims to double its market share in terms of assets over the next few years, said chief executive Boontuck Wungcharoen.
FASHION
The Bangkok Fashion City project is officially over due to a lack of private-sector co-operation, said Pramote Vittayasook, director-general of the Industrial Promotion Department.
Charter flights from Switzerland, Russia and Baltic countries to Thailand in the coming high season will help offset the slowdown in foreign visitors over the past two months, according to Phornsiri Manoharn, governor of the Tourism Authority of Thailand (TAT).
AGRICULTURE
Farmers who hope to obtain high prices in the next round of government rice purchases may be disappointed, as Prime Minister Somchai Wongsawat has acknowledged that the pledging prices should reflect current world prices.
Fire at PTTCH unit
Peugeot's new distributor is relaunching French automaker in Thailand after its sales slumped during three erratic decades under the Leenutaphong family's Yontrakit Group. Yontrakit Automobiles Co's investment to expand the business will include building a new assembly plant, developing the sales network and enlarging the marketing budget. Non-financial support from Peugeot is also expected to lift consumer confidence in its products.
Bus & Truck '08, the fifth commercial and special-purpose vehicle exhibition to be staged in Thailand, is expected to attract about 30,000 visitors from Thursday to Saturday at Bitec Bang Na. TTF International Co, the event organiser, said that in addition to commercial vehicles and related products, the event would feature alternative energy vehicles, along with seminars and workshops with participation from government and business organisations
ELECTRICITY
VIENTIANE : The Nam Ngum 2 hydropower plant in Laos may start operations four months earlier than scheduled in an attempt to earn more income to offset the unexpected rise in construction costs, said South East Asia Energy Co (SEAN), the project operator.
COMMUNICATIONS
Alcatel-Lucent is pinning its hopes on third-generation (3G) wireless networks and systems to increase its sales revenue in the high-potential market in Thailand.
The listed developer Sansiri Plc (SIRI) plans to launch five projects worth a combined five billion baht in the fourth quarter, mainly in lucrative locations where it has existing developments.
Diageo Moet Hennessy (Thailand) Ltd, the importer and distributor of Johnnie Walker Scotch whisky, has invested 100 million baht in a new regional ad campaign, ''The Pact Between Men'' to reiterate the brand's Keep Walking philosophy. The four-month campaign centres on the theme of passion and how dreams can be realised with friendship as the driving force behind success.
ADVERTISING
Thailand's 92-billion-baht ad industry may be affected by the financial crisis in the United States, which is now spreading to Europe, says veteran advertiser Chaipranin Visudhipol.
