Thailand Company News

Land and Houses Retail Bank (LH Bank) expects approval from authorities for an upgrade to commercial bank status by August

The Government Housing Bank was swamped yesterday on the launch of the Bt25-billion First Home Loan scheme, with nearly 6,000 eager applicants seeking almost Bt9 billion in zero-interest mortgages.

TUF announced its 2011's first-quarter results today with year-on-year growth in sales by 49% in US dollar term and 39% in Thai baht term.

LH Financial Group will start trading on the Stock Exchange of Thailand on May 10 as the first listing by a commercial bank in the 15-year period.

LPN Development is expected to be a prime beneficiary of a government plan to offer zero interest loans for first-time homebuyers who purchase properties costing below Bt3 million, said DBS Vickers Securities (Thailand).

SET still holds long-term potential for investors willing to endure occasional volatility. Despite high volatility and dips last week, the Thai stock market is still considered attractive for long-term investors who want to start accumulating good stocks at discounted prices or long-term equity funds, say analysts.

Thailand, Malaysia and the Philippines will be adversely affected if crude-oil prices reach the critical level of US$130 per barrel this year, the United Nations Economic and Social Commission for Asia and the Pacific (Escap) says.

GFPT Plc, a listed integrated poultry producer, plans to invest 1 billion baht this year to set up new broiler and grandparent chicken farms to supply its joint-venture processing plant.

As expected, the Cabinet quickly approved the huge Bt66-billion budget for its populist policies with the hope of winning majority support in the next general election.

Thailand saw strong growth in launches of new property projects in the first quarter with a total of 28,683 units, up 28.4% yearon-year, with the value rising 35% to 68.75 billion, according to Agency for Real Estate Affairs.