Thailand Company News

Leading property firm Pruksa Real Estate will propose measures to treat wastewater from its four residential projects in Rangsit in Pathum Thani province to the Senate subcommittee on the environment at the end of this month.

SET-listed Sri Trang Agro-Industry (STA)expects to see its revenue jump by 30-40% to B100b this year from business expansion and an increase in production capacity in all types of rubber products. Kitichai Sincharoenkul, an executive director of STA, the world's largest block rubber distributor, said the company was seeing solid demand in the market driven by strong economic growth in Asia and emerging economies.

After a glorious year for the automobile industry with record sales in 2010, the industry is hoping for another boost from the Bangkok International Motor Show, with as much as Bt40b expected to change hands during the 12-day event.

Rising business confidence evidenced by more jobs, abundant liquidity Asia's real-estate investment market has seen encouraging growth in terms of the total value of sales this year and the second half of 2010 thanks primarily to the abundant liquidity and continued inflow of capital, a study by Collier International showed.

The three main real-estate-industry associations, namely the Thai Real Estate Association, the Housing Business Association and the Thai Condominium Association, have jointly organised the 24th semi-annual "House and Condo Expo" over the past weekend.

Property funds offer attractive returns but liquidity is a concern. All investors want their investments to deliver handsome returns, or at least to beat inflation.Thailand's inflation rate is expected to stand around 3-4% this year, with high oil prices caused by unrest in the Middle East one key factor.The Bank of Thailand last week lifted its policy rate by 0.25 percentage points to 2.5% to curb rising inflation.

Quality Houses Plc says it plans to launch 22 projects worth Bt28.6b this year, mostly detached houses.

The Erawan Group plans to sell Ploenchit Center to SCB Asset Management for Bt1.4b to help improve its financial performance this year, said its chief financial officer, Kamonwan Wipulakorn.

Thai Stanley Electric, a leading Thai manufacturer of lights for the automotive industry with a Japanese parent company, believes the quake and tsunami disaster in Japan will not affect its operations in Thailand. The company imports only one raw material from Japan, said Apichart Leeissaranukul, executive vice president of Thai Stanley Electric, adding that stocks of the item would last until the end of the month.

Thai Union Group joined The Royal Thai Government's disaster relief campaign to help the victims of the devastating earthquake and tsunami in Japan by presenting 200,000 cans of tuna products to Thai Prime Minister Abhisit Vejjajiva during a ceremony.