TCC insurance arm purchased by Cigna
Charoen Sirivadhanabhakdi's foresight in shopping around for cheap assets to acquire during the 1997 Asian crisis was rewarded earlier this month when US-based Cigna International spent Bt600 million to take over Thai Charoen Insurance (TCI) Co from his Thai Charoen Commercial (TCC) group.
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IN BRIEF
Proton cars: 'Major Thai firm' to be distributor
A major Thai auto firm is set to secure a deal with Proton Holdings Bhd for the sole rights to distribute Proton cars in the country, a source from Bangkok was quoted as saying in Malaysia's Business Times.
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Ministry programme to develop SME exporters
The Commerce Ministry hopes to encourage about 3,000 selected small and medium-sized enterprises (SMEs) to become exporters within the next five years and boost the value of the Kingdom's exports by an annual Bt300 billion in the process.
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Yokohama to concentrate bulk of tyre output here
T Siam Commercial Co Ltd, the official distributor of Yokohama tyres in Thailand, has launched the latest all-terrain version of the Japanese company's Geolandar SUV tyres.
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Going after the big boys
The Commerce Ministry will next month announce new guidelines drawn up to protect small and medium-sized retailers against unfair practices by their giant rivals.
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Call for changes to Alien Business Law
Economists have called for the government to amend what they feel is the "hypocritical" Alien Business Law, calling it ambiguous by aiming to protect local industries on the one hand while simultaneously attracting foreign investment on the other - a situation that can create uncertainty and risks for foreign investors.
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Late news :BAY board to discuss GE deal
The Bank of Ayudhya (BAY) yesterday announced its board would convene on Monday to consider details of its tie-up with GE Capital International Holdings Corp.
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Shell Autoserv set to launch franchises
Shell Autoserv Ltd, the automobile fast-fit service provider, plans to launch franchising by the second quarter of next year in order to speed up its expansion into all 76 provinces.
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A 2007 budget deficit would boost growth: Thanong
Caretaker Finance Minister Thanong Bidaya said yesterday the government may have to run a budget deficit in 2007 in a bid to boost economic growth, while the central bank endorsed the idea, saying it is "good timing" for a fiscal deficit.
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