IN Brief

Amlo seeks more help

FINANCE :The Anti-Money Laundering Office (Amlo) plans to compel jewellery shop owners, gold shops and auto dealers to report large-value transactions to authorities.

Amlo chief Yuthabul Dissaman said that expanding the scope of reporting to cover large-value asset transactions was in line with international practices.

"In general, it's pretty normal for those who have ill-gotten gains to purchase expensive items such as gold, jewellery or cars," he said. "Large cash purchases in particular should be covered under the reporting requirements."

Under the current law, financial institutions are compelled to disclose large-value cash transactions to Amlo. The agency also has broad powers to investigate financial records of individuals suspected of possible money-laundering. Retail shops could be obliged to submit reports for all cash purchases worth more than two million baht under the proposed change.

The changes would require cabinet approval. Finance Minister Chalongphob Sussangkarn has said that any move to expand Amlo's powers must ensure that individual rights remain protected.

Chemical firms pay up

ENVIRONMENT :Local petrochemical companies have reaffirmed their commitment to allocate four billion baht for a two-year programme to help curb pollution in heavily industrialised Rayong province.

The budget will be integrated into the government's five-year programme to solve industrial pollution in the region, which is expected to utilise six billion baht through 93 projects.

The programme will soon be forwarded for approval by the National Environment Commission.

Reserves up $400m

FINANCIAL DATA :International reserves totalled $69.6 billion as of March 23, compared with $69.2 billion the week before, according to the Bank of Thailand.

The net forward position was $9.4 billion, compared with $9.6 billion the week before. Net claims on government were 99.3 billion baht, compared with 80.1 billion. Net claims on financial institutions were -1.097 trillion baht, compared with -1.071 trillion. Reserve money was 812 billion baht, compared with 803.6 billion the week before.

Bangkok Post

Saturday March 31, 2007