THAI NEWSPAPER HIGHLIGHTS - NOV 20, 2008

Highlights of today's newspapers:

BANGKOK POST:

- LG Electronics (Thailand) Co is asking its Korean parent firm to approve a two billion baht ($57US.38 million) budget for business expansion next year despite the economic downturn. Hyun Woo Lee, the company's managing director, said the budget would be spent on upgrading the factory in Rayong and marketing.

- Honda has designated its Thailand facilities as its regional technology transfer centre for car manufacturing in other countries, reaffirming the company's commitment to making the country its regional auto manufacturing hub.

- The Telecom Business Act should be revised to allow foreign investors to hold more than 49 per cent of telecom companies to strengthen the industry's competitive edge, according to the Thailand Development Research Institute (TDRI). TDRI vice-president Somkiat Tangkitvanich said the telecom sector was currently lagging the development of the country's information and communications technology (ICT) business.

- Passenger traffic and flight movements through Thailand's six main airports shrank more than 11 per cent in October, reflecting the downturn in the country's travel and tourism industry. Passenger flows through airports operated by Airports of Thailand Plc (AoT) including Suvarnabhumi last month totalled 4.23 million, 11.29 per cent lower than in the same period last year.

- Central Pattana Plc (CPN), the SET-listed property developer under the Central Group of Companies, is renegotiating with the Chinese landlord of its first overseas shopping complex in China.

- General Motors will temporarily close its automobile manufacturing plant in Rayong in the face of the difficult market facing the local industry and the US parent's severe financial problems.

THE NATION:

- The government is expected to lose about Bt10 billion from its recent rice-bidding schemes managed by the Commerce Ministry. A senior ministry source said yesterday the government had sold 1 million-1.5 million tonnes of white and jasmine rice at a loss of Bt6,000 to Bt10,000 per tonne.

- Manager Media Group, which owns a range of publications including Manager Daily, will today transfer its entire operation to a new company named ASTV Manager and revamp all of its brands, following the collapse of its rehabilitation plan.

- Siam Taxi Co-operative Ltd Chairman Vitoon Naewpanich and about 10 representatives of taxi clubs on Wednesday submitted a petition to Prime Minister Somchai Wongsawat, asking for the suspension of a hike in the liquefied petroleum gas (LPG) price.

- Thai AirAsia on Thursday inaugurated its Bangkok-Nakhon Si Thammarat flight, increasing the number of its domestic routes to 11.

- "SET in the City 2008" will be kicked off on Thursday at Royal Paragon Hall, the fifth floor of Siam Paragon, where a number of companies will showcase their financial products to potential buyers.