What's new in business news: August 15, 2013

Prepaid TV on phone & TV, big losses at THAI so president may lose job & fall in stock trading hurts IPO market.

TELEVISION 

True offering prepaid TV for home & mobile phone

TrueVisions is expanding its pay TV service to offer a prepaid service under the pay-as-you-watch concept, letting viewers get the service on both their TV set and mobile phone with no contract.

The company believes the market is entering the era of 'mass prepaid'.

Prepaid customers are expected to account for up to 70% of the total pay TV market in the next three to five years.

Customers can buy the satellite set-top box for 1,090 baht in exchange for a line-up of 120 TV channels.

A refillable smart card supplied with the set-top box can be used at any 7-Eleven store to buy channels. [Read rest of article here]. 

AIRLINES

THAI boss risks getting fired 

The future of Sorajak Kasemsuvan as president of Thai Airways International (THAI) hangs in the balance after his performance was deemed disappointing by the airline's board.

The airline's turnover in the first half of this year was lower than expected despite a rise in tourist numbers to the country.

The number of inbound tourists increased by 20% in the first six months of this year compared with the same period last year.

THAI suffered a net loss of 8.4 billion baht in the second quarter. This followed a net profit of 8.2 billion baht in the first quarter, combining for a net loss of 156 million baht in the first half of this year.

Intensifying competition from Gulf carriers and low-cost flights in Asia have hit THAI's turnover.

The loss during the first half of this year was also attributed to the purchase of new aircraft, depreciation costs for old aircraft, currency exchange movements and poor cargo service performance. [Read rest of article here]

STOCK MARKET

Thinning stock trade value worries SET

The Stock Exchange of Thailand (SET) is maintaining its average trading value target this year of 48-49 billion baht a day, though the level is likely to fall to 38 billion baht in the second half.

The lower trading value has resulted from uncertainty in the US and political changes in many countries.

Foreign investors are waiting for a clear policy from the US Federal Reserve on stimulus curbs.

Mr Pakorn said shrinking trade value could hurt the initial public offering (IPO) market.

Banks, energy and utilities remained the most popular with investors. [Read rest of article here]