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Baht/$ 34.04/08 (Bid/Ask)
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13,300
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INBrief
COMMODITIES :The benchmark export price of white rice declined 2.2% yesterday to a five-month low, according to the Thai Rice Exporters Association.
The price of 100% grade B white rice was set at $750 a tonne compared with $767 last week and an average of $336 in August last year. The price of 25% white rice was set at $623 compared with $639 last week and $301 last year. The association holds a meeting every Wednesday to set prices.
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Upgrades for PTT
FINANCE :Fitch Ratings has upgraded the national long-term rating of PTT Plc to AAA(tha) from AA+(tha), with the same upgrade for the company's outstanding senior unsecured and unsubordinated debentures amounting to 88.2 billion baht.
Fitch said the ratings reflected PTT's dominance in the oil and gas business and its strategic importance for the country's energy security and development. The ratings are supported by PTT's good management track record and financial status, stable revenue and cash flows from long-term supply and sales agreements with minimum take-or-pay conditions, a cost-plus pricing structure and generally less volatile gas prices relative to oil prices.
PTT reported strong earnings before interest, tax, depreciation, amortisation (EBITDA) of 82.5 billion baht in the first half, up 18% year-on-year, on solid growth in its exploration and production business.
PTT shares closed yesterday on the Stock Exchange of Thailand at 258 baht, unchanged, in trade worth 1.2 billion baht.
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Building forum
PROPERTY :The Building Maintenance & Asset Management Expo Asia 2008 will be held on Sept 25-26 at Impact Muang Thong Thani, with a focus on helping building owners and operators to improve business processes and operational efficiency to ensure projected profits are achievable.
More than 100 exhibitors will present technologies, products and services related to the industry for business operators across Asia.
"Good knowledge of facility management is crucial in times like this," said Loy Joon How, general manager of Impact Management & Exhibition Co Ltd, the fair organiser.
"I believe the facility management industry in Asia, especially in Thailand where good facility management practice is just starting, will have a positive outcome amid these difficult times."
For more details, visit http://
http://www.maintenance-asia.com/
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Home Pro sales
RETAILING :Home Product Center Plc plans a major sales event next month with an aim to generate sales of 1.6 billion baht, according to Nat Jaritchana, senior vice-president for marketing.
"Because of economic and political uncertainties, customer spending in the home-improvement market tends to decline further in the second half. So we plan to launch three big promotion campaigns to stimulate spending to achieve 15% sales growth this year," said Mr Nat.
The promotion is part of the company's 12th anniversary campaign. It is scheduled to be held from Sept 4 to Oct 1 at every HomePro branch nationwide.
Shares of HomePro (HMPRO) closed yesterday on the Stock Exchange of Thailand at 4.72 baht, unchanged, in trade worth 1.1 million baht.
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Easier bill payment
INSURANCE :HSBC, Prudential Life Assurance and Counter Service have introduced a new bill payment service for life assurance customers to settle bills through Counter Service counters nationwide.
Premium payments for Prudential customers can be made without any extra fees through Counter Service.
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Condo regulations
CORRECTION :A guest article titled "Condo developers need to consider the law", written by Neil Simmons and published on July 27 on page 10 of the Business section contained factual errors.
The article incorrectly suggested that foreign ownership limits for condominiums in Thailand were now 40%. The 2008 Condominium Act (No 4), which went into force this July, states in Section 19 (bis) that foreign ownership is limited to no more than 49% of the total space of all units of the condominium. Foreign limits are not calculated based on units, but by usable space owned by foreign investors.
We regret the error.
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