THAI NEWSPAPER HIGHLIGHTS - JUNE 4, 2008

Highlights of today's newspapers

BANGKOK POST:

- The cabinet today took a major step to encourage the use of ethanol, by drastically lowering the import duties for so-called green cars made abroad, so long as they use E85 fuel - 85 per cent ethanol and just 15 per cent gasoline.

- The government's talk of using Article 68 of the constitution to disperse the rally of the People's Alliance for Democracy has raised the eyebrows of legal experts and been shrugged off by the protesters.

- Despite rising political risks, the country's two largest developers, Land & Houses Plc (LH) and Preuksa Real Estate Plc (PS), are revising up their budgets for new land acquisitions.

- Automakers expressed mixed responses yesterday to the government's new E85 gasohol policy after cabinet ministers approved a new excise tax structure for E85 fuel and compatible cars.

- Shares of the cooking gas manufacturer Siam Gas and Petrochemicals gained nearly 14 per cent from its initial public offering price yesterday despite continued bearish sentiment due to political worries.

- Thai authorities should stop intervening in the energy market in order to promote energy conservation in the country, according to the independent consultants McKinnon & Clark (M&C).

- Kasikorn Asset Management (K-Asset) has launched the K-MENA fund, a foreign investment fund focusing on equities markets in the Middle East and North Africa (MENA).

THE NATION:

- Tisco Bank team in Thai dresses celebrates Songkran Festival by offering special water greetings to customers and people on Sathorn Road and nearby area, promoting new saving products, "Super Savings" with 2.4 per cent interest.

- Bangkok Bank is voted Bank of the Year 2008 by Money & Banking Magazine, with the 2007 net profit of Bt19 billion (US$583 million).

- While global oil prices hit new peaks, state enterprise PTT will continue suffering losses of tens of billions of baht this year providing cheap energy - as it has to keep selling petrol and NGV at below cost.

- Standard & Poor's has launched the S&P Asia Property 40 index, which will provide investors with a benchmark for listed companies in Asian property and real-estate markets.

- The government is expected to unveil a fresh stimulus package that would include measures such as extending the property-rental period for foreigners.