Thai Airways International plans to increase its stake in Nok Airlines to as much as 60% in order to exert more control over the low-cost carrier. The flag carrier previously said it would raise its stake in Nok to 49% from 39%, but THAI now wants to increase this to 59% or 60%.
Senior THAI executives said increasing the stake was an essential part of building co-operation between the two airlines, which would end in Nok assuming the bulk of the national carrier’s domestic services.
As many as nine of THAI’s 12 domestic routes are no longer economically viable for the flag carrier due to its high cost structure and intense competition from Thai AirAsia and other low-cost airlines.
THAI plans to finance the increased stake in Nok through its own capital and THAI’s provident fund and employees’ welfare fund, said THAI executives.
Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam
The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.
Thailand remains in pole position for the highest funds raised across Southeast Asia
Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited with US$1.77 billion and US$ 1.27 billion funds raised respectively
THAILAND, 26 November 2020 — Capital markets across Southeast Asia stayed resilient in 2020 despite a host of uncertainties from the evolving global health crisis to the worsening US-China trade tensions and the impact of the US presidential elections.(more…)
Thailand’s antitrust agency under scrutiny over $11 Billion Tesco Deal Approval
With the Tesco deal approved, CP Group will gain control over a network of about 2,000 hypermarket and grocery stores across Thailand, and the group already operates 7-Eleven convenience stores and the Siam Makro chain.
Thailand’s largest conglomerate, Charoen Pokphand Group (CP) won on Friday the Thai antitrust agency’s approval for acquisition of retail giant Tesco Lotus: the Office of Trade Competition Commission (OTCC) voted 4:3 in favour of the US$10-billion takeover deal.(more…)
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