The Stock Exchange of Thailand (SET) continues its mission to promote knowledge about personal finance planning and investment alternatives, under the theme “Increasing value to your saving, increasing your investment money,” in SET in the City Zone at Money Expo Pattaya. The event will be held for investors in Chonburi and nearby provinces for the first time this year, at Royal Cliff Beach Resort, during February 5-7.
“This year, SET plans to hold activities throughout the year to promote knowledge and understanding about saving and investment, supporting investors nationwide to manage their finances through different financial products. Our activities will facilitate investors’ easy access to information. The first event will be in Chonburi, followed by Bangkok in May, Nakhon Ratchasima in October, and Chiang Mai in November. Moreover, SET plans to consistently hold seminars and training courses on its new products,” said SET President Patareeya Benjapolchai.
“Holding activities for investors is one strategy to increase SET liquidity in 2010, as it will help investors and others understand about SET financial products, including the new ones to be launched this year. These products increase investment opportunity and can be used as risk management tools for investors,” added Ms. Patareeya.
Chonburi is the center of industrial and agricultural production in the East. With its strong potential for saving and investment of the people in this area, eleven securities firms with a total of 18 branches service the largest area in the East. SET, therefore, will hold SET in the City Zone at Money Expo Pattaya as the first event this year, under the theme “Increasing value to your saving, increasing your investment money,” noted SET Group Head, Product Development Kesara Manchusree.
“Today, people are looking for investment alternatives that give more return than bank deposit. This event will focus on providing investment knowledge to the public to diversify their savings to different financial products, including equities, derivatives, gold futures and mutual funds, particularly derivatives which currently is receiving great attention from investors, as derivatives accounts reached 29,546 in total (as of end-2009), an increase of 89% over 2008,” said Ms. Kesara.
At this event, leading securities and asset management companies will provide investment consulting, account opening services for all products and seminars by executives from securities companies and leading analysts everyday at 13.00-15.00 hrs. In addition, contestants can apply for the online competition SET-TFEX Click2WIN 2010.
Moreover, participants will have a chance to receive numerous souvenirs. SET in the City Zone at Money Expo Pattaya will be held at Peach Convention Hall, Royal Cliff Beach Resort, Pattaya, Chonburi during February 5-7. For more information, please contact S-E-T Call Center at 0 2229 2222 or visit www.set.or.th
Sunday, February 7, 2010
Saturday, January 30, 2010
Thai bourse holds “SET in the City”
“SET in the City’ is a major integrated investment event of the year. Investors can meet specialists from securities, asset management, and insurance companies as well as gold futures brokers. The Agricultural Futures Exchange of Thailand (AFET) also joins the event and Securities and Exchange Commission (SEC) will give advice on investments and investors’ rights, while the Islamic Bank of Thailand will give information on investment that complies with Islamic principles. The Revenue Department will provide “tax clinic” service and explain any issues about taxes. Moreover, 30 listed companies, nine of which are banks, will provide complete service on finance and investment.
“SET Group will present information on its products and services aiming at both existing and potential investors. SET will also give advice on analysis tools and how to invest in stocks; how to invest in bonds or debentures via Bond Electronic Exchange (BEX); how to invest in Thailand Futures Exchange PCL (TFEX). Moreover, investors can learn more about SET’s and TFEX’s latest products: gold futures, single stock futures, SET 50 Index futures, options, exchange-traded funds, derivative warrants, and services on SET’s ‘Mobile Clinic,’ which will provide investors with answers about securities trading through smart phones, using the Settrade Streaming program. Additionally, there will be booths providing information on post-trade services, e.g., automatically transferring dividends to shareholders’ bank accounts (e-Dividend), checking on securities holdings, and personal finance planning,” said Ms. Patareeya.
“SET Group will present information on its products and services aiming at both existing and potential investors. SET will also give advice on analysis tools and how to invest in stocks; how to invest in bonds or debentures via Bond Electronic Exchange (BEX); how to invest in Thailand Futures Exchange PCL (TFEX). Moreover, investors can learn more about SET’s and TFEX’s latest products: gold futures, single stock futures, SET 50 Index futures, options, exchange-traded funds, derivative warrants, and services on SET’s ‘Mobile Clinic,’ which will provide investors with answers about securities trading through smart phones, using the Settrade Streaming program. Additionally, there will be booths providing information on post-trade services, e.g., automatically transferring dividends to shareholders’ bank accounts (e-Dividend), checking on securities holdings, and personal finance planning,” said Ms. Patareeya.
Thursday, December 3, 2009
Thai bourse announces plans for more listings, products and alliances
The Stock Exchange of Thailand (SET) plans to add 46 new listed companies to the main board and adjust mai listing procedures to attract interested firms. The Exchange will introduce four new products - gold futures, derivative warrants, an ETF and an Islamic fund, while increasing retail, institutional and internet-based investor numbers by 5-10%.
As part of its five-year organizational development plan, SET will itself will be listed by 2011. The Exchange will be a more important fundraising source for leading domestic firms and at minimum cost. To achieve its regional and global ambitions, SET will continue to broaden the range of reasonably-priced products and services available to clients, SET President Patareeya Benjapolchai said.
From 2009, the Exchange and its subsidiaries will be divided into two groups, one focusing on exchange functions and the other on capital market development. Its initiatives are underpinned by nine strategies, which include increasing the number of listing approvals to 46 companies, 10 new property funds and new products, including an Islamic Fund to attract Middle East investment,” Ms. Patareeya added.
The number of retail investors will grow by 5%, or approximately 100,000 people, while local institutional and internet-based investors will rise by 10% from 2008. Futures daily trading volumes will expand by 32.4% from 2008, to 10,910 contracts.
Meanwhile, the capital market development group is about to launch 15 new projects. The group will help lower costs for training industry professionals and enable the Exchange to be Thailand’s only capital market education and examination center and, eventually, the capital market education center for all countries in the Greater Mekong region.
Other strategies include readying personnel for planned ASEAN market integration and enhancing corporate governance in preparation for SET’s becoming a listed public company in 2011, Ms. Patareeya said.
From next year on, Market for Alternative Investment (mai) is to be a disclosure-based market, allowing financial advisors to more closely involved in assessing the quality of listed firms and provide full information on them. SET will collaborate more closely with the private and public sectors to attract businesses from Indochina to list on the Thai market.
SET will increase market access and efficiency, promote AFET (The Agricultural Futures Exchange of Thailand ) merge the bond exchange information center and trade system and expand post-trade services, SET Executive Vice President Sopawadee Lertmanaschai said.
The IT system will be more fully compatible with international markets and support the planned establishment of an ASEAN Board. In 2009, the Exchange will link local stock trade with at least one new international market to accommodate listings within Indochina and support new products and services, SET Executive Vice President Nongram Wongwanich said.
Next year, capital market development emphasis will be on investor education and finding new-generation investors who understand wealth management. Various projects will increase the quality and the quantity of capital-market-related professionals by 30%, SET Senior Vice President Jiraporn Koosuwan stated.
SET will continue to promote corporate governance (CG), corporate social responsibility (CSR) and investor relations (IR) to meet international standards. Within five years, CG scores must match those of other markets in our region, and 75% of targeted listed firms must achieve the required IR standards. To promote CSR, within the same period, at least 50% of listed companies should inform shareholders of their CSR activities in their annual reports. The Exchange will launch projects to attract entrepreneurs to the capital market, using mai Matching Fund and Venture Capital Model, SET Senior Vice President Kengkla Ruckphaopunt said.
As part of its five-year organizational development plan, SET will itself will be listed by 2011. The Exchange will be a more important fundraising source for leading domestic firms and at minimum cost. To achieve its regional and global ambitions, SET will continue to broaden the range of reasonably-priced products and services available to clients, SET President Patareeya Benjapolchai said.
From 2009, the Exchange and its subsidiaries will be divided into two groups, one focusing on exchange functions and the other on capital market development. Its initiatives are underpinned by nine strategies, which include increasing the number of listing approvals to 46 companies, 10 new property funds and new products, including an Islamic Fund to attract Middle East investment,” Ms. Patareeya added.
The number of retail investors will grow by 5%, or approximately 100,000 people, while local institutional and internet-based investors will rise by 10% from 2008. Futures daily trading volumes will expand by 32.4% from 2008, to 10,910 contracts.
Meanwhile, the capital market development group is about to launch 15 new projects. The group will help lower costs for training industry professionals and enable the Exchange to be Thailand’s only capital market education and examination center and, eventually, the capital market education center for all countries in the Greater Mekong region.
Other strategies include readying personnel for planned ASEAN market integration and enhancing corporate governance in preparation for SET’s becoming a listed public company in 2011, Ms. Patareeya said.
From next year on, Market for Alternative Investment (mai) is to be a disclosure-based market, allowing financial advisors to more closely involved in assessing the quality of listed firms and provide full information on them. SET will collaborate more closely with the private and public sectors to attract businesses from Indochina to list on the Thai market.
SET will increase market access and efficiency, promote AFET (The Agricultural Futures Exchange of Thailand ) merge the bond exchange information center and trade system and expand post-trade services, SET Executive Vice President Sopawadee Lertmanaschai said.
The IT system will be more fully compatible with international markets and support the planned establishment of an ASEAN Board. In 2009, the Exchange will link local stock trade with at least one new international market to accommodate listings within Indochina and support new products and services, SET Executive Vice President Nongram Wongwanich said.
Next year, capital market development emphasis will be on investor education and finding new-generation investors who understand wealth management. Various projects will increase the quality and the quantity of capital-market-related professionals by 30%, SET Senior Vice President Jiraporn Koosuwan stated.
SET will continue to promote corporate governance (CG), corporate social responsibility (CSR) and investor relations (IR) to meet international standards. Within five years, CG scores must match those of other markets in our region, and 75% of targeted listed firms must achieve the required IR standards. To promote CSR, within the same period, at least 50% of listed companies should inform shareholders of their CSR activities in their annual reports. The Exchange will launch projects to attract entrepreneurs to the capital market, using mai Matching Fund and Venture Capital Model, SET Senior Vice President Kengkla Ruckphaopunt said.
Saturday, November 21, 2009
UN trade and investment policy body for Asia and the Pacific opens first session
The main policy body on trade and investment for the regional arm of the United Nations in Asia and the Pacific opened its first session today, noting that the region was on the path to recovery from the economic and financial crises but also that the adverse social effects would be felt for a long time.
The Committee on Trade and Investment, which provides policy guidance to the work of the Economic and Social Commission for Asia and the Pacific (ESCAP), is meeting through Friday in Bangkok under the theme, “Trade-Led Recovery and Beyond.”
In her remarks to the Committee, Noeleen Heyzer, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP, emphasized the need to enhance connectivity in the region in support of intraregional trade.
Many developing countries in the region, particularly the least developed and landlocked ones, lack sufficient access to markets or are not competitive enough to fully use trade as a tool for wealth generation and poverty reduction. “For these countries effective integration with regional and global trading systems will potentially provide important additional sources of growth,” she said.
Trade measures should also be specifically designed to target the sectors of the economy linked with small businesses, women and the poor to ensure that future trade-led economic growth was pro-poor and benefited people who needed it most, Dr. Heyzer added.
Foreign Minister Kasit Piromya of Thailand said in his inaugural address that regional economic cooperation was essential to promoting sustainable growth and strengthening resilience against future economic crises. He referred to last month’s ASEAN Summit which had launched an initiative to establish an East Asian Free Trade Area comprising the 10 ASEAN members and China, Japan and the Republic of Korea. He also emphasized the importance of public-private partnerships, particularly in infrastructure projects.
The Committee also discussed trade and investment as a means to achieve inclusive and sustainable development. Kiat Sittheeamorn, Thailand Trade Representative, said Asia stood to benefit greatly from trade and should therefore take a pro-active role in promoting trade liberalization. “Trade is a victim of the crisis but a hero of recovery,” he said, adding that Asia should speak with one voice to get the maximum benefit out of trade.
The Committee also noted that Asia was leading the recovery from the crisis and exports were poised for strong growth in 2010. Kishore Mahbubani, Dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, called for Asia to be at the forefront of trade-led growth. “The global economy creates many opportunities; for instance, Asia is already taking a lead in developing green technologies,” he said. In a modern economy, there was a need for a proper balance between the invisible hand of the market and the visible hand of good government.
Damdin Tsogtbaatar, State Secretary of the Ministry of Foreign Affairs and Trade of Mongolia, noted that the crisis had revealed that the “old economy” was neglected in favour of the “new economy.” “Important traditional sectors such as agriculture and mining cannot easily be replaced by dot.com industries in many countries,” he said.
The first session of the Committee on Trade and Investment, which drew about 100 senior officials, academics and private sector representatives from some 25 countries, is part of a series of events which make up ESCAP’s first Asia-Pacific Trade and Investment Week. Secretary-General Supachai Panitchpakdi of the UN Conference on Trade and Development (UNCTAD) is scheduled to deliver a keynote address Thursday to the Committee.
Other events during the Week have included the Asia-Pacific Economists’
Conference on “Trade-led Growth in Times of Crisis” to commemorate the fifth anniversary of the Asia-Pacific Research and Training Network on Trade (ARTNeT), the OECD/ESCAP Conference on Corporate Responsibility and other workshops.
The Committee on Trade and Investment, which provides policy guidance to the work of the Economic and Social Commission for Asia and the Pacific (ESCAP), is meeting through Friday in Bangkok under the theme, “Trade-Led Recovery and Beyond.”
In her remarks to the Committee, Noeleen Heyzer, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP, emphasized the need to enhance connectivity in the region in support of intraregional trade.
Many developing countries in the region, particularly the least developed and landlocked ones, lack sufficient access to markets or are not competitive enough to fully use trade as a tool for wealth generation and poverty reduction. “For these countries effective integration with regional and global trading systems will potentially provide important additional sources of growth,” she said.
Trade measures should also be specifically designed to target the sectors of the economy linked with small businesses, women and the poor to ensure that future trade-led economic growth was pro-poor and benefited people who needed it most, Dr. Heyzer added.
Foreign Minister Kasit Piromya of Thailand said in his inaugural address that regional economic cooperation was essential to promoting sustainable growth and strengthening resilience against future economic crises. He referred to last month’s ASEAN Summit which had launched an initiative to establish an East Asian Free Trade Area comprising the 10 ASEAN members and China, Japan and the Republic of Korea. He also emphasized the importance of public-private partnerships, particularly in infrastructure projects.
The Committee also discussed trade and investment as a means to achieve inclusive and sustainable development. Kiat Sittheeamorn, Thailand Trade Representative, said Asia stood to benefit greatly from trade and should therefore take a pro-active role in promoting trade liberalization. “Trade is a victim of the crisis but a hero of recovery,” he said, adding that Asia should speak with one voice to get the maximum benefit out of trade.
The Committee also noted that Asia was leading the recovery from the crisis and exports were poised for strong growth in 2010. Kishore Mahbubani, Dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, called for Asia to be at the forefront of trade-led growth. “The global economy creates many opportunities; for instance, Asia is already taking a lead in developing green technologies,” he said. In a modern economy, there was a need for a proper balance between the invisible hand of the market and the visible hand of good government.
Damdin Tsogtbaatar, State Secretary of the Ministry of Foreign Affairs and Trade of Mongolia, noted that the crisis had revealed that the “old economy” was neglected in favour of the “new economy.” “Important traditional sectors such as agriculture and mining cannot easily be replaced by dot.com industries in many countries,” he said.
The first session of the Committee on Trade and Investment, which drew about 100 senior officials, academics and private sector representatives from some 25 countries, is part of a series of events which make up ESCAP’s first Asia-Pacific Trade and Investment Week. Secretary-General Supachai Panitchpakdi of the UN Conference on Trade and Development (UNCTAD) is scheduled to deliver a keynote address Thursday to the Committee.
Other events during the Week have included the Asia-Pacific Economists’
Conference on “Trade-led Growth in Times of Crisis” to commemorate the fifth anniversary of the Asia-Pacific Research and Training Network on Trade (ARTNeT), the OECD/ESCAP Conference on Corporate Responsibility and other workshops.
AGCO Nominated for Best Overall Governance, Compliance and Ethics Program plus Corporate Secretary of the Year by Corporate Secretary Magazine
AGCO Corporation (NYSE:AGCO), Your Agriculture Company, a worldwide
distributor and manufacturer of agricultural equipment, today announced
that it has been nominated for best overall governance, compliance and
ethics program by the Corporate Secretary Magazine Awards 2009
Committee. In addition, AGCO’s Corporate Secretary, Debra Kuper, has
been nominated for the magazine’s Corporate Secretary of the Year.
“AGCO is a leader both within our industry and across other business
sectors in the area of overall governance, compliance and ethics
program,” said Martin Richenhagen, Chairman, President and CEO. “Every
day, over 15,000 AGCO employees come to work with the shared goal of
doing a good job in a manner that is ethical. I am very proud of each
employee for their commitment,” said Richenhagen.
The awards are open to all corporate secretaries, general counsel,
governance and compliance officers at any company listed and domiciled
in the US. The nominees were selected by exhibiting exceptional
performance in advancing governance and compliance activities at their
company. The winners will be announced on November 3. The Corporate
Secretary Magazine Awards will be judged by a panel of governance and
compliance experts from all sides of the governance arena.
“Debra has worked hard to raise the visibility of overall governance,
compliance and ethics programs globally at AGCO. Her work includes
reaching out to each employee with a new version of the AGCO Code of
Conduct,” said Richenhagen.
Debra Kuper was appointed Vice President, General Counsel and Corporate
Secretary for AGCO in May 2008. She has overall responsibility for the
Company's legal matters, including the ethics and compliance program,
litigation, regulatory and securities filings.
Also as recognition of AGCO’s ongoing commitment to corporate
governance, AGENDA.com showcased AGCO in their October 12th
article as one of only a handful of companies that follow a recent
Conference Board recommendation to appoint a standing committee to
address succession planning. The AGCO Board’s permanent succession
planning committee works to ensure a continued source of capable,
experienced managers to support the company’s future success.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AGCO) was founded in 1990 and
offers a full product line of tractors, combines, hay tools, sprayers,
forage, tillage equipment, implements, and related replacement parts.
AGCO agricultural products are sold under the core brands of
Challenger®, Fendt®, Massey Ferguson® and Valtra®, and are distributed
globally through more than 2,800 independent dealers and distributors,
in more than 140 countries worldwide. AGCO provides retail financing
through AGCO Finance. AGCO is headquartered in Duluth, Georgia, USA. In
2008, AGCO had net sales of $8.4 billion. Please visit our website at www.AGCOcorp.com.
distributor and manufacturer of agricultural equipment, today announced
that it has been nominated for best overall governance, compliance and
ethics program by the Corporate Secretary Magazine Awards 2009
Committee. In addition, AGCO’s Corporate Secretary, Debra Kuper, has
been nominated for the magazine’s Corporate Secretary of the Year.
“AGCO is a leader both within our industry and across other business
sectors in the area of overall governance, compliance and ethics
program,” said Martin Richenhagen, Chairman, President and CEO. “Every
day, over 15,000 AGCO employees come to work with the shared goal of
doing a good job in a manner that is ethical. I am very proud of each
employee for their commitment,” said Richenhagen.
The awards are open to all corporate secretaries, general counsel,
governance and compliance officers at any company listed and domiciled
in the US. The nominees were selected by exhibiting exceptional
performance in advancing governance and compliance activities at their
company. The winners will be announced on November 3. The Corporate
Secretary Magazine Awards will be judged by a panel of governance and
compliance experts from all sides of the governance arena.
“Debra has worked hard to raise the visibility of overall governance,
compliance and ethics programs globally at AGCO. Her work includes
reaching out to each employee with a new version of the AGCO Code of
Conduct,” said Richenhagen.
Debra Kuper was appointed Vice President, General Counsel and Corporate
Secretary for AGCO in May 2008. She has overall responsibility for the
Company's legal matters, including the ethics and compliance program,
litigation, regulatory and securities filings.
Also as recognition of AGCO’s ongoing commitment to corporate
governance, AGENDA.com showcased AGCO in their October 12th
article as one of only a handful of companies that follow a recent
Conference Board recommendation to appoint a standing committee to
address succession planning. The AGCO Board’s permanent succession
planning committee works to ensure a continued source of capable,
experienced managers to support the company’s future success.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AGCO) was founded in 1990 and
offers a full product line of tractors, combines, hay tools, sprayers,
forage, tillage equipment, implements, and related replacement parts.
AGCO agricultural products are sold under the core brands of
Challenger®, Fendt®, Massey Ferguson® and Valtra®, and are distributed
globally through more than 2,800 independent dealers and distributors,
in more than 140 countries worldwide. AGCO provides retail financing
through AGCO Finance. AGCO is headquartered in Duluth, Georgia, USA. In
2008, AGCO had net sales of $8.4 billion. Please visit our website at www.AGCOcorp.com.
Friday, September 25, 2009
Man charged in B50m scam
A man has been charged with operating a pyramid investment scheme that attracted more than a thousand investors and 50 million baht in funds.
Natthachai Machi,41, is also believed to have masterminded several other scams including opening a fraudulent flight attendant training operation, but he has denied all allegations.
Crime Suppression Division police have taken Mr Natthachai into custody after two warrants were issued for his arrest.
CSD deputy chief Suphisan Phakdinoranat said Mr Natthachai and his accomplices had operated a company to lure investors to invest in a fraudulent oil investment scheme.
His victims were led to believe their investments of 250,000 baht would lead to a quick profit of 300,000 baht.
But the investors lost at least 50 million baht between them in the investment scam, Pol Col Suphisan said.
Other suspects who have not been arrested include Thanaphon Chotisaen,Anan Nuthae, Kritaphat Trakulsomsiri and Thatsaphorn Kaosaiyanan.
Pol Col Suphisan said Mr Natthachai had also opened Universe Airline Co to deceive customers who wanted to become flight attendants.
He said Mr Natthachai shut down the company abruptly after receiving money from people who had signed up for training. He also did not pay the company staff their wages.
The employees filed a complaint with police which led to Mr Natthachai's arrest.
Mr Natthachai is thought to have opened several other firms to deceive investors into investing in various types of fraudulent schemes.
Natthachai Machi,41, is also believed to have masterminded several other scams including opening a fraudulent flight attendant training operation, but he has denied all allegations.
Crime Suppression Division police have taken Mr Natthachai into custody after two warrants were issued for his arrest.
CSD deputy chief Suphisan Phakdinoranat said Mr Natthachai and his accomplices had operated a company to lure investors to invest in a fraudulent oil investment scheme.
His victims were led to believe their investments of 250,000 baht would lead to a quick profit of 300,000 baht.
But the investors lost at least 50 million baht between them in the investment scam, Pol Col Suphisan said.
Other suspects who have not been arrested include Thanaphon Chotisaen,Anan Nuthae, Kritaphat Trakulsomsiri and Thatsaphorn Kaosaiyanan.
Pol Col Suphisan said Mr Natthachai had also opened Universe Airline Co to deceive customers who wanted to become flight attendants.
He said Mr Natthachai shut down the company abruptly after receiving money from people who had signed up for training. He also did not pay the company staff their wages.
The employees filed a complaint with police which led to Mr Natthachai's arrest.
Mr Natthachai is thought to have opened several other firms to deceive investors into investing in various types of fraudulent schemes.
Friday, August 28, 2009
CHIA MENG TO TAKE RICE COST HIKES IN ITS STRIDE
Chia Meng Marketing, producer of Hong Thong rice, plans to maintain retail prices until year-end despite a surge in some operating costs, particularly global oil prices, which have affected transportation costs.
Managing director Sopan Manathanya yesterday said the company's transportation and packaging costs were all linked to oil prices.
Oil prices have increased more than 10 per cent since early this year. However, rice traders cannot adjust the retail prices of bagged rice, as they come under the price-control list of the Commerce Ministry.
"Rice is on the ministry's product watch list. If producers want to increase prices, they must seek ministry approval.
"Whether we adjust the retail prices of our rice will depend on the government's subsidy policy, as well. We'll consider the market situation before deciding," she said.
Meanwhile, the government's policy of opening bidding for a big lot of rice through the Agricultural Futures Exchange of Thailand for the first round early this month made an impact on the market's jasmine-rice price. Traders offered high prices to win the bidding amid the rice shortage. Therefore, Chia Meng had to purchase jasmine rice at prices higher than normal.
Chia Meng secured 100,000 tonnes of the total 300,000 tonnes of jasmine rice in the first round of bidding. The government will open a second round of bidding for jasmine rice tomorrow, and the company may join the bidding.
Sopan said Chia Meng Marketing planned to increase promotion campaigns and marketing events, for which it usually joins hands with department stores, in order to boost sales this year. It has not decided on discounting the retail prices of rice for promotion campaigns this year.
She said Chia Meng Marketing recently launched V-Life by Hong Thong, with three formulas: Gaba, Triple King and Pink Fragrant. V-Life by Hong Thong is targeted at health-conscious consumers.
"We're interested in developing rice for health-conscious consumers, because Thais have paid more attention to this variety of rice. The market value of this segment last year was Bt450 million, up more than 30 per cent from 2007, while that of jasmine rice increased at a lower rate of 10 per cent," she said.
The combined value of Thailand's bagged-rice market last year was Bt20 billion, of which Bt450 million was in the rice-for-health segment. Sopan predicts the market value of the new segment could reach Bt1 billion in three years. She added that Chia Meng Marketing now had an 11-per-cent share of the rice-for-health segment but expects to increase that to 20 per cent this year while doubling sales in the segment to Bt100 million after introducing V-Life by Hong Thong.
Managing director Sopan Manathanya yesterday said the company's transportation and packaging costs were all linked to oil prices.
Oil prices have increased more than 10 per cent since early this year. However, rice traders cannot adjust the retail prices of bagged rice, as they come under the price-control list of the Commerce Ministry.
"Rice is on the ministry's product watch list. If producers want to increase prices, they must seek ministry approval.
"Whether we adjust the retail prices of our rice will depend on the government's subsidy policy, as well. We'll consider the market situation before deciding," she said.
Meanwhile, the government's policy of opening bidding for a big lot of rice through the Agricultural Futures Exchange of Thailand for the first round early this month made an impact on the market's jasmine-rice price. Traders offered high prices to win the bidding amid the rice shortage. Therefore, Chia Meng had to purchase jasmine rice at prices higher than normal.
Chia Meng secured 100,000 tonnes of the total 300,000 tonnes of jasmine rice in the first round of bidding. The government will open a second round of bidding for jasmine rice tomorrow, and the company may join the bidding.
Sopan said Chia Meng Marketing planned to increase promotion campaigns and marketing events, for which it usually joins hands with department stores, in order to boost sales this year. It has not decided on discounting the retail prices of rice for promotion campaigns this year.
She said Chia Meng Marketing recently launched V-Life by Hong Thong, with three formulas: Gaba, Triple King and Pink Fragrant. V-Life by Hong Thong is targeted at health-conscious consumers.
"We're interested in developing rice for health-conscious consumers, because Thais have paid more attention to this variety of rice. The market value of this segment last year was Bt450 million, up more than 30 per cent from 2007, while that of jasmine rice increased at a lower rate of 10 per cent," she said.
The combined value of Thailand's bagged-rice market last year was Bt20 billion, of which Bt450 million was in the rice-for-health segment. Sopan predicts the market value of the new segment could reach Bt1 billion in three years. She added that Chia Meng Marketing now had an 11-per-cent share of the rice-for-health segment but expects to increase that to 20 per cent this year while doubling sales in the segment to Bt100 million after introducing V-Life by Hong Thong.
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