ThaiVest Editorial Team

The Revenue Department is ready to cut the corporate income tax rate, though it is also proposing a rise in the value-added tax (VAT) rate, says Satit Rungkasiri, director-general of the department.

Thai Union Frozen Products Public Company Limited ("TUF"), Thailand's leading processor and exporter of canned and frozen seafood products, successfully placed a series of bonds to a group of institutional and high net worth investors.

The governor of the Bank of Thailand has expressed confidence that there were no signs of bubbles in the banking sector, which witnessed average loan growth of more than 10 per cent in the first half of this year.

The Thai automotive industry is likely to miss its export target of 1 million units this year because of a shortage of car parts over the past two months resulting from the earthquake and tsunami in Japan, the Automotive Industry Club under the Federation of Thai Industries (FTI) says.

Central Food Retail Co (CFR), the operator of the Tops supermarket chain, will speed up expansion of Tops Daily stores and renovate its Tops Supermarket outlets.

Land appraisal prices in Bangkok will rise 15-30% on average in the next revision to take effect next year while condominium valuations will rise 15%, according to the Treasury department.

Land appraisal prices and condominium valuations in Bangkok are expected to increase in 2012, with growth driven by infrastructure improvements and the expansion of mass transit systems, particularly in prime areas such as Sathorn, Sukhumvit, and Ratchadamri.

The French Embassy in Bangkok has sold its property holdings on South Sathorn Road to City Virtue Limited, as the French government is moving all Embassy operations to a new facility .