THAI NEWSPAPER HIGHLIGHTS - SEPT 26, 2008

Highlights of today's newspapers:

BANGKOK POST:

- Economic growth is expected to reach 5.1 per cent this year, down from previous forecasts of 5.6 per cent because of the global economic slowdown, the Fiscal Policy Office said yesterday.

- Rama 3 Land Co, the developer of SV Complex on Rama III Road, is on the brink of bankruptcy after the administrator of its debt-rehabilitation plan failed to get a new partner to revive the huge condominium project over the past six years.

- The Securities and Exchange Commission yesterday filed a criminal complaint against Glory Bullion (Thailand) Co for illegally offering to trade oil, gold and foreign-exchange futures contracts without a licence. SEC and police investigators raided the company's offices at Thai CC Tower on Wednesday and seized evidence suggesting it had solicited investors to transact forward contracts as a branch of a Hong Kong broker.

- The Muang Thai Group has teamed up with the Islamic Bank to offer insurance services to Thailand's over eight million Muslims.

- Thailand's largest agro-industry conglomerate, Charoen Pokphand (CP), wants to invest in shrimp farming projects in South Africa as Thai firms spread their investments to emerging markets, says the Board of Investment (BoI).

- The Swedish furniture retail giant Ikea has signed a five-year production contract worth 15 billion baht (US$441.82 million) with S.P.S. Group, a Thai furniture maker, and plans to open a store in Bangkok next year as part of a plan to expand its presence in Asia.

THE NATION:

- Ikea, the giant furnituremaker and home product retailer, yesterday announced a Bt15 billion plus contract with Thailand's SPS Group for the supply of furniture to its outlets in Asia, the western coast of the United States and some parts of Europe.

- Local businesses are being encouraged to produce more skilled human resources to support investment in research and development. The goal is to create competitive advantages for the country.

- True Visions enjoyed a jump in 2008's second-quarter sales as a result of using 'Convergence Lifestyles' strategy.

- Stock Exchange of Thailand's executives on Thursday will discuss with the Finance Ministry's working committee on the consequences on the US financial crisis on the Thai stock market, urging the Cabinet to quickly restore investor confidence.

- The slowing economy is the greatest concern of Thai people, followed by the political unrest, according to a survey of University of Thai Chamber of Commerce released today.

- Two days after the historical single-day increase in crude oil prices, Shell leads in raising pump prices, effective on Thursday.

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