INBrief

SCC selling steel shares

INDUSTRY :Siam Cement Plc (SCC), the country's largest industrial conglomerate, will sell a 35% stake in Siam Yamato Steel Co for about 3.55 billion baht, its second sale of a steel unit in a year.

After the sale, SCC's holding in Siam Yamato would fall to 10%, the company told the SET yesterday.

Siam Cement, which earns more than half of its revenue from petrochemicals and cement, said the sale was in line with a policy to focus on its core businesses.

Last year SCC sold its 40% stake in Millennium Steel to Tata Steel Ltd of India for three billion baht.

It said it would book an after-tax gain of 1.38 billion baht in the second quarter from the sale in Siam Yamato Steel.

SCC shares closed yesterday at 240 baht, down eight baht. BLOOMBERG

Show bookings healthy

AUTOMOBILES :The Bangkok International Motor Show 2007 had healthy bookings of 14,000 units worth 15 billion baht, according to the organisers, Grand Prix International Co. While unit bookings were up from 12,000 at last year's show, the value was down from 20 billion baht, reflecting fewer sales of luxury models.

Infinity condo sold out

PROPERTY :Golden Land Property Development Plc says it has sold all units in its flagship luxury condominium, The Infinity on Sathorn Road.

CEO William Wilfong said the highest price at the 2.3-billion-baht Infinity was 159,000 baht per square metre for the two- and three-bedroom units. The project was launched in 2005.

The company expects The Infinity to contribute about one billion baht in pre-tax profits over the construction period. The project is on schedule for handover to buyers by the middle of next year.

Shares of Golden Land (GOLD) closed yesterday at 8.50 baht, down five satang.

Revenue below target

ECONOMY :Government revenues in March totalled 103.34 billion baht, or 3.4% below target, the Finance Ministry said yesterday. Net government revenues for the first half of fiscal 2007 from Oct 1 to March 31 totalled 608.39 billion baht, 0.3% below target but 6.6% higher than in the first half of fiscal 2006.

Bangkok Post

Last Updated : Tuesday April 10, 2007