GM Asia Pacific investment

The company is a manufacturer of Chevrolet and Ford vehicles here. While Ford has confirmed plans to invest Bt10 billion to expand its parts production, Chevrolet is studying the possibility of establishing an eco-car plant in the Kingdom to boost its share of the passenger-car market, Kosit said.

Education funds

The Education Ministry has asked for additional funds from the Finance Ministry, to pay higher salaries to teachers, said Finance Minister Chalongphob Sussangkarn, adding that it should instead ask the Cabinet for a portion of the central government's budget.

Former finance minister MR Pridiyathorn Devakula earlier agreed to allocate Bt30 billion to the Education Ministry to support teachers, but actual spending is expected to reach Bt42 billion by the end of the fiscal year.

Meanwhile, Chalongphob said the budget law would be amended to strengthen fiscal discipline. The amended law would allow government agencies to ask for additional funds in the middle of a fiscal year. It would also allow the Finance Ministry to use fiscal reserves for this purpose, but the reserves would increase a similar amount the next year.

GSP benefits end

Effective July 1, the US will end Generalised System of Preferences (GSP) eligibility for three Thai exports: gold jewellery, flat-panel televisions and polyethylene terepthelate, says a report from the US Embassy.

However, the US government granted Thailand a new waiver of competitive-need limitations to exports of new pneumatic radial tires, allowing that industry to continue exporting under the GSP programme despite surpassing export limits.

Bangkok Land

Bangkok Land will raise its registered capital by Bt10 billion through the issue of 10 billion new shares at a par value of Bt1 apiece. Capital will be raised from Bt17.7 billion to Bt27.7 billion.

In a filing with the Stock Exchange of Thailand, the property developer said 2.86 billion shares would be offered to shareholders at a ratio of 5.5 existing shares for 1 new share for Bt1 apiece. The remaining 7.3 billion shares will be reserved for warrants.

Shareholders will vote on approval of the capital increase and warrant issue at a July 27 meeting.