Wednesday, January 09, 2008

GPF foreign limit lifted


GPF foreign limit lifted

FINANCE :The cabinet yesterday approved a Finance Ministry proposal to allow the Government Pension Fund to increase its foreign investments to up to 25% of portfolio assets from a 15% limit now.

Equity investments can now account for up to 35% of total assets from 30%. The Finance Ministry said the changes would support development of the domestic capital market and increase efficiency for the GPF, the country's largest pension fund, to manage investment assets in both the local and foreign markets.


TRAF curbs extended

STOCKS :The Stock Exchange of Thailand yesterday extended a ban on net settlement and margin trading transactions for Traffic Corner Holding (TRAF) securities for another 60 days from Jan 9 to April 2.

The ban extends a previous order to prohibit net settlement and margin trading for TRAF securities from Nov 21 to Jan 8, after the SET detected unusual changes in trading volume and price.

Shares of TRAF closed yesterday at 18.10 baht, down 2.20 baht, on trade worth 82.5 million baht.


Palm oil price studied

CONSUMER GOODS :The Internal Trade Department is considering allowing producers of cooking palm oil to increase retail prices by no more than 5.50 baht per litre throughout this year.

Director-general Yanyong Phuangrach said the increases should be made in two steps to prevent a heavy impact on customers. He will discuss with producers the appropriate times to raise the prices.

Last year, the department permitted cooking oil producers to raise retail prices to 43.50 baht a litre, from 38.50 baht.

Palm oil prices have been rising steadily because of increased demand for palm nuts by biodiesel producers.

The department is also preparing to allow canned-fish processors to increase their prices by one or two baht a can soon to cope with higher costs.

The department has 35 consumer products on its price-control list, and also has 200 on the price-watch list, for which manufacturers must seek permission before raising prices.


Bid winners clarified

CORRECTION : In a story on page B1 of yesterday's Business section under the headline ''Loxley group wins CAT bid'', it was incorrectly reported that Loxley Plc was part of the LSI consortium that won the bid for CAT Telecom's integrated billing and customer service system. In fact LSI consortium comprises Locus Telecommunication (Thailand), System Alliance, and IEC.

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