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Published on February 16, 2008

Ratchaburi Power - 25 per cent owned by Ratchaburi, the country's largest listed power producer - will start operating the first generating unit of a new 1,400-megawatt power plant next month and the second 700MW unit will come on line in June, the company said in a statement yesterday.

Last year, its net profit was Bt5.8 billion, dropping 4.5 per cent from Bt6.1 billion a year earlier.

Managing director Narong Sitasuwan said Ratchaburi expected to conclude a deal with Chinese companies by June for them to own up to 20 per cent of the US$2.61-billion (Bt84.9 billion) Hongsa Lignite coal-fired power plant in Laos.

The Nation

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PTTEP chief

PTT Exploration and Production (PTTEP) has appointed Anon Sirisaengtaksin as chief executive, while Maroot Mrigadat remains the company's president.

Anon currently works as senior executive vice president at parent PTT, the company said in a statement to the Stock Exchange of Thailand yesterday.

The appointment aims to support long-term business growth for the country's second-largest oil and gas producer.

The Nation

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Thai Oil gains

Thai Oil yesterday reported a net profit of Bt19.2 billion for last year, up 8.6 per cent from Bt17.7 billion in 2006, on lower expenses.

The company's expenses decreased to Bt237.2 billion from Bt260.1 billion, while foreign-exchange gains fell to Bt1.52 billion from Bt3.49 billion.

The Nation

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Higher reserves

The foreign reserves rose to US$94.7 billion (Bt3.1 trillion) as of February 8, from $92.9 billion a week before.

The Bank of Thailand said its net forward position in the forex markets was $21.2 billion, compared with $22.3 billion on February 1.

Economists have suggested the government channel part of the growing foreign reserves to overseas investment, to tame the baht's appreciation.

The Nation

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Bond rates set

The Bank of Thailand has set the interest rates on its Bt50 billion four- and seven-year savings bonds at 3.75 per cent and 4.5 per cent, respectively.

Bookings for the bonds start on Monday and continue to February 26 at nine banks - Bangkok Bank, Krung Thai Bank, Kasikornbank, Citibank, BankThai, Siam Commercial Bank, Siam City Bank, UOB Bank and HSBC.

The Nation