Terminal still building site ahead of air hub switch | Bangkok Post: business

Ongoing renovation works are seen at the terminal building of the airport in Kaduna, Nigeria on January 10, 2017. Kaduna airport handled 12 flights in December 2015, the last month for which Nigeria's airports authority has figures, compared with 812 that used Abuja. "If the government says it will be ready, it will be ready," Mohammed Joji, chairman of a government-appointed committee that is overseeing the temporary airport closure and transition, said last week. The temporary closure of Abuja's airport has been criticised by aviation labour unions, business leaders and diplomats. "Some businesses will fold up and be unable to recover," said three Nigerian aviation unions in an open letter, adding that the country's aviation industry "will lose colossal sums of money".

January 18, 2017 03:53 UTC

The Transport Co to buy 60 microbuses | Bangkok Post: news

(Bangkok Post file photo)The state-owned operator of interprovincial bus services has been instructed to buy 50-60 microbuses to be put in service primarily on four routes in a pilot move to gradually replace passenger vans currently in operation with microbuses. About 50% of the van operators are not yet ready financially, he said. The Transport Co will take measures gradually replace all vans with microbuses such as by finding financial sources for the van operators to buy new microbuses or extending the concession contracts for those who are able to do so. All existing passenger vans in operation will be required to be fitted with a global positioning system (GPS) by March 31. Passenger vans which are over seven years old will have to be replaced by microbuses.

January 18, 2017 03:32 UTC

Philippine Church speaks out on drug killings

"(The drug war) is not any more in accord with the legal processes, and the moral norms are being violated and so now is the time for the Church to speak up," he said. Duterte has made no apologies for the killings, saying he would be happy to "slaughter" three million drug addicts to stop the Philippines from descending into a Latin American-style narco state. "Not too many churches and people are actually keen on speaking up against these killings because of fear," he said. Church leaders take pains to emphasise they have not given up on Duterte and they are not campaigning against his rule, just the killings. What impact the Church campaign against the killings will have on government policy remains uncertain.

January 18, 2017 03:10 UTC

SET opens up 4.32 to 1,571.16 | Bangkok Post: business

Thai stocks opened up 0.28% at the start of trade this morning. The Stock Exchange of Thailand main index opened at 1,571.16 points, up 4.32 points from Tuesday’s close. The trade value was 1.35 billion baht, with 315.6 million shares traded. The SET50 index opened at 979.72 points, up 2.90 points, or 0.30% with a total trade value of 701.54 million baht. The MAI index stood at 638.13 points, up 0.66 points or 0.10%, with total transaction value of 106.62 million baht.

January 18, 2017 03:07 UTC

Garcia Eyes More Asian Success at Singapore Open

The 51st edition of the storied SMBC Singapore Open will be jointly sanctioned by the Asian Tour and Japan Golf Tour Organisation. It is always exciting times,” added Garcia, a five-time winner on the Asian Tour. “It looks like a really pretty golf course with a lot of water and some exciting holes,” he said. “I won the first tournament of the year (the SMBC Singapore Open) last year which led to more opportunities for me. Singapore veteran Mardan Mamat said that he was looking at the SMBC Singapore Open as a launch pad for the season.

January 18, 2017 02:51 UTC

13 listed firms risk debt default | Bangkok Post: business

Thirteen small and mid-sized SET-listed companies are at risk of being next to default on bills of exchange (B/Es), a senior analyst at Bualuang Securities (BLS) warns. But he voiced confidence that the series of debt instrument defaults will not snowball into a financial crisis, as their combined issuance size is minimal. D/E is an indicator of the ability of shareholder equity to fulfil debt obligations to creditors. They are Nation Multimedia Group Plc (NMG), KC Property Plc (KC), Inter Far East Energy Corporation Plc (IFEC) and E For L Aim Plc (EFORL). But NMG has already serviced 50 million baht in debt from B/Es, while EFORL paid 200 million and IFEC paid the first batch of its 200-million-baht of defaulted B/Es, while another lot of 200 million baht in B/Es just went into default last week.

January 18, 2017 01:06 UTC

Jay Mart branches into fintech | Bangkok Post: tech

Jay Mart yesterday announced that it has transformed itself into a holding company. Its major flagship mobile phone business unit operate under the newly-established Jaymart Mobile Co, which is 99% owned by Jay Mart. In addition, Jay Mart holds a 24.9% shareholding stake in Singer Thailand, a leading network of direct sales marketing, service loans and leasing for consumers. Mr Adisak said J Ventures is developing an application that will allow people to borrow money from J Fintech. Jay Mart plans to spend 7.7 billion baht on business expansion this year, up from 5.1 billion in 2016.

January 18, 2017 00:58 UTC

Subaru plant to produce in Thailand | Bangkok Post: business

Currently, Subaru vehicle production in Southeast Asia is conducted at the completely knocked down assembly plant for Tan Chong Motor Assemblies Sdn Bhd in Malaysia, which builds the Subaru XV and the Forester. The joint venture, to be set up next month, aims to begin production in 2019, according to a statement by FHI. Production in Malaysia will continue, and Tan Chong International will sell the vehicles produced both in Malaysia and Thailand through its Subaru dealer network. With this new joint venture project, FHI aims to further enhance Subaru sales in the growing Southeast Asian market. Subaru posted sales in Thailand of 3318 cars in 2016, up by 25.6% year-on-year.

January 18, 2017 00:40 UTC

Monks of a different gender | Bangkok Post: lifestyle

A row of female monks, after being barred from paying respects to King Bhumibol Adulyadej's royal urn. On the other, a group of 72 bhikkhunis, female monks, and novices were barred from going any further. Dhammananda Bhikkhuni. In Thailand, female monks lack the status that male monks do. In hopes of shedding light on the issues surrounding Thai bhikkhunis, a public talk is scheduled for next Saturday from 9-11am at Suan Rodfai in Bangkok.

January 18, 2017 00:18 UTC

Uber delivers food in Bangkok | Bangkok Post: business

UberEats currently allows people to order food from 100 restaurants covering 24 cuisines. There are several key food delivery players in Thailand such as Berlin-based Foodpanda, Tokyo-based Line Man and Singapore-based GrabEat. With UberEats, customers can download the food delivery app and get a meal delivered in 30-45 minutes. It is the fifth city in Asia where Uber has launched its food delivery service, after Singapore, Tokyo, Hong Kong and Taipei. Mr Penn said Uber has expanded into on-demand food delivery to leverage its core technological capabilities and extend its transport service into other categories.

January 18, 2017 00:17 UTC

Survey finds 2017 optimism improving | Bangkok Post: business

The survey on the economic and industrial outlook in 2017 covered 45 major industries and 10 industrial institutes with respondents from more than 1,000 companies. In a previous survey, only 25% of respondents thought the economic expansion would continue. The EEC is expected to increase investment in eastern Thailand, where there is strong potential to create technology transfers and improve industry. Some 16.3% of survey respondents still believed that the Thai economy may contract in 2017 due to persistent negative factors, Assoc Prof Kamphol said. Other risks that would weigh on the Thai economy are the bank's strict regulations on loan lending that could force Thai manufacturers into a liquidity crunch.

January 18, 2017 00:17 UTC

Jewellery firms receive tax incentives | Bangkok Post: business

The government has outlined tax measures to promote the gems and jewellery industry. Individual sellers of raw materials for jewellery are also allowed a 1% reduction of personal income tax, with value-added tax (VAT) exempted for raw material imports. A VAT waiver is also awarded to registered entrepreneurs who import raw materials or semi-finished products. The GSB has provided 12.7 billion baht worth of soft loans to 985 entrepreneurs. Thailand's jewellery industry is ranked eighth globally by value, and jewellery is among the top four products tourists buy.

January 18, 2017 00:16 UTC

Praying to false idols | Bangkok Post: opinion

The "Apple didn't invent the iPhone" story you may have seen in the media recently, originating from the BBC, has been found to have a number flaws. Besides showing just how low and lazy many media people have sunk, the story is far from true. The BBC story came from a single source, Mariana Mazzucato who named the state the real innovator. Part 2 of the iPhone screen repair story mentioned in last week's article started a week later at the Apple store. I expect everyone to be filled with confidence on reading that according to Microsoft this is all for your benefit.

January 18, 2017 00:10 UTC

Assange welcomes Obama's decision to commute Manning sentence: lawyer

"I welcome President Obama's decision to commute the sentence of Ms. Chelsea Manning from 35 years to time served," Assange said in a statement sent to AFP by one of his lawyers. He said Manning should never have been convicted and described her as "a hero, whose bravery should have been applauded not condemned". Manning was convicted in August 2013 of espionage and other offenses after admitting to leaking 700,000 sensitive military and diplomatic classified documents to WikiLeaks. Earlier this month WikiLeaks said on Twitter that Assange would agree to US extradition if Obama were to grant Manning clemency. Washington has maintained the threat of prosecuting Assange over the 2010 leak, though no charges have been filed.

January 18, 2017 00:09 UTC

Mobile chipmaker Qualcomm hit with US antitrust suit

Qualcomm rejected the agency's case as "significantly flawed," arguing that reasoning at the heart of the civil complaint is wrong. "This tax weakens Qualcomm's competitors, including by reducing demand for their processors, and serves to maintain Qualcomm's monopoly in baseband processor markets." The suit also alleges that Qualcomm "extracted exclusivity from Apple in exchange for reduced patent royalties," which prevented the iPhone maker from getting processors from Qualcomm's competitors from 2011 to 2016. "This is an extremely disappointing decision to rush to file a complaint," Rosenberg said. The San Diego, California, group in 2015 agreed to pay $975 million to settle antitrust charges in China.

January 18, 2017 00:08 UTC

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