Finance Minister Korn Chatikavanij has promised both local and international investors that local banks have adequate liquidity to support their industries. Three banks have agreed to lend General Motors (Thailand) Bt13.5 billion to finance two vehicle programs and construction of a new diesel-engine plant in Rayong province.
Rumours that the property market in Phuket is in decline and that prices may fall have been quashed this week by the sale of a high-end villa at Andara Resort, Phuket, Thailand. The villa, which sold for a multi-million Dollar price tag and almost double the original release price was bought by a wealthy Hong Kong investor.Andara is the flagship development of Hong Kong businessman and entrepreneur Allan Zeman and one of Phuket’s most prestigious villa projects, recently winning four accolades at the Thailand Property Awards.
The Export-Import Bank of Thailand yesterday appointed Daiwa and Mizuho as joint lead managers for the sale of its floating-rate notes worth US$200 million (Bt6.7 billion) to leading institutional investors, to raise funds for expansion.
The Malaysia-based no-frills airline group AirAsia and its sister Thai airline have set their sights on separate listings on the Stock Exchange of Thailand (SET) to raise fund to support their aggressive expansion plans. On 27 December 2006, AirAsia’s CEO Tony Fernandes unveiled a five-year plan to further enhance its presence in Asia. In the plan, AirAsia will strengthen and enhance its route network by connecting all the existing cities in the region and expanding further into Indochina, Indonesia, Southern China (Kun Ming, Xiamen, Shenzen) and India. The airline will focus on developing its hubs in Bangkok and Jakarta through its sister companies, Thai AirAsia and Indonesia AirAsia. Hence, with increase frequency and addition of new routes, AirAsia expects passenger volume to hit 18 million by end-2007.
Thailand’s auction of third-generation mobile phone licences could be delayed yet again by at least…
To expand its investment facilitating network in Northern Europe, Thailand Board of Investment (BOI) opened…
Japan’s Mitsubishi Motors will hire another 1,300 workers in Thailand as the car market slowly recovers after being battered by the global recession. Japan’s sixth-largest automaker, plans to increase production at a plant in Thailand this month to meet growing demand for its vehicles in Asia. The carmaker will add a shift at the plant, which makes cars including Pajero Sport SUVs and Triton pickup trucks, it said in a faxed statement today. It will add 1,300 workers at the factory, it said.