Private Enterprise
Riinvest Institute
December 15, 2009
Article at a Glance:
Riinvest Institute’s survey of corporate governance practices in the Kosovar financial system reveals improvements in transparency, disclosure, and shareholder rights over the last decade.
Improvements are lacking in the area of board composition and relations with stakeholders, especially the business community.
Lack of attention on the part of financial institutions to the views and needs of businesses is damaging to Kosovo’s economic development prospects.
Government should encourage more competition in the financial sector and take actions to improve the supply and affordability of credit to the private sector.
Read this and other Economic Reform Feature Service articles online at http://www.cipe.org/featureservice
Saturday, January 2, 2010
Wednesday, December 16, 2009
New Generation Trading System for China Foreign Exchange Trade System (CFETS) goes live nationwide
Tata Consultancy Services, the leading IT services, business solutions and outsourcing firm today announced that the Reminbi currency trading platform for the Chinese inter-bank market, an initiative of China Foreign Exchange Trade System (CFETS), a subsidiary of People’s Bank of China (PBoC) has successfully gone live nationwide. The New Generation CNY Trading System (NGCNYTS) is a forward-looking trading system, which aims to incorporate the future vision of the Chinese Interbank market and relevant international best practices. It is designed to meet the fast growing requirements of the Chinese financial market with efficient risk management and real time monitoring systems. It supports multiple trading methods, including special features for market makers.
NGCNYTS is a next generation system providing unified platform across Debt, Money and Derivative Markets. NGCNYTS gained national importance, as it is the primary trading platform for all financial institutions such as Commercial Banks, Pension, Trust & Mutual Fund, Securities firms and Insurance companies in China.
Speaking on the successful implementation of this landmark project, Girija Pande, Executive Vice President and Head, TCS Asia Pacific, said, “We are extremely pleased to successfully deliver the CFETS project built based on our experience in other global markets and in close cooperation with CFETS who have experience in Chinese domestic market. It also provides flexibility to connect with third party front ends and other external interfaces. Deploying in ten markets at a time is a unique challenge which TCS could complete successfully.”
“The project is among the most prestigious venture of TCS in the APAC region, involving a highly dedicated multi-cultural team of over 130 associates spanning a period of more than 2 years. The team will be maintaining the system going forward and enhancing the system for additional markets,” he further added.
TCS’ trading solution at CFETS is scalable and can handle rapid growth in volumes with ease. Due to its scalable and configurable architecture, it also simplifies the addition of multiple financial products thus reducing the overall time to market.
Besides CFETS, TCS has successfully delivered the mission critical trading systems for the National Stock Exchange of India Limited, India, National Commodity and Derivatives Exchange, India and Clearing Corporation of India Limited (CCIL). TCS is also the chosen strategic partner involved in maintaining the trading applications at Deutsche Boerse AG, Germany.
TCS pioneered the entry of Indian IT industry in China in 2002 and remains at the forefront of that thrust with 1100 consultants in China and four Global delivery Centres (Beijing, Shanghai, Tianjin& Hangzhou). In 2005, TCS was invited by Chinese Government to form a Joint Venture to create a large scale global sourcing base in China. TCS China is serving over 30 Global and domestic clients like Eaton, Motorola, Cummins, China Foreign Exchange Trade System (CFETS), Guangdong Provincial Rural Credit Cooperative Union (GDRCC), China Trust Bank, Hua Xia Bank.
NGCNYTS is a next generation system providing unified platform across Debt, Money and Derivative Markets. NGCNYTS gained national importance, as it is the primary trading platform for all financial institutions such as Commercial Banks, Pension, Trust & Mutual Fund, Securities firms and Insurance companies in China.
Speaking on the successful implementation of this landmark project, Girija Pande, Executive Vice President and Head, TCS Asia Pacific, said, “We are extremely pleased to successfully deliver the CFETS project built based on our experience in other global markets and in close cooperation with CFETS who have experience in Chinese domestic market. It also provides flexibility to connect with third party front ends and other external interfaces. Deploying in ten markets at a time is a unique challenge which TCS could complete successfully.”
“The project is among the most prestigious venture of TCS in the APAC region, involving a highly dedicated multi-cultural team of over 130 associates spanning a period of more than 2 years. The team will be maintaining the system going forward and enhancing the system for additional markets,” he further added.
TCS’ trading solution at CFETS is scalable and can handle rapid growth in volumes with ease. Due to its scalable and configurable architecture, it also simplifies the addition of multiple financial products thus reducing the overall time to market.
Besides CFETS, TCS has successfully delivered the mission critical trading systems for the National Stock Exchange of India Limited, India, National Commodity and Derivatives Exchange, India and Clearing Corporation of India Limited (CCIL). TCS is also the chosen strategic partner involved in maintaining the trading applications at Deutsche Boerse AG, Germany.
TCS pioneered the entry of Indian IT industry in China in 2002 and remains at the forefront of that thrust with 1100 consultants in China and four Global delivery Centres (Beijing, Shanghai, Tianjin& Hangzhou). In 2005, TCS was invited by Chinese Government to form a Joint Venture to create a large scale global sourcing base in China. TCS China is serving over 30 Global and domestic clients like Eaton, Motorola, Cummins, China Foreign Exchange Trade System (CFETS), Guangdong Provincial Rural Credit Cooperative Union (GDRCC), China Trust Bank, Hua Xia Bank.
The Last Exclusive Nine West Brand Sale of the YEAR! Savings Up to 90% During December 17-26, 2009
GRI Thailand Company, an importer of international leading fashion brands offers ‘The Last Exclusive Nine West Brand Sale of the YEAR!’, giving a good look for less with savings up to 90% off regular price on variety fashion brands by GRI Thailand at Event Hall on 1st floor of Amarin Plaza during December 17-26, 2009.
Shopping for less payment on fashion style both clothing and accessories from variety brands includes Nine West Ready to Wear, EQ: IQ, Karen Millen, AK Anne Klein, Joan & David, Nine West, Francesco Biasia, Sole Alliance, Kathy Van Zeeland, Steve Madden and Enzo Angiolini.
Shopping for less payment on fashion style both clothing and accessories from variety brands includes Nine West Ready to Wear, EQ: IQ, Karen Millen, AK Anne Klein, Joan & David, Nine West, Francesco Biasia, Sole Alliance, Kathy Van Zeeland, Steve Madden and Enzo Angiolini.
‘Roses of the North’ Charity Exhibition
Flowers can make everyone feel happy…. H.E.Privy Councillor Palakorn Suwanrath and Thanpuying Dhasaniya Suwanrath recently presided over at ‘Roses of the North’ charity oil painting exhibition inspired by Bhubing Palace organized by L’Occitane and Baan Saen Doi Resort in Chiang Mai. The art of mercy rose oil painting exhibition was held at Peninsula Plaza and part of sales went to support schools and hospitals where are needed in Chiang Mai. Many kind hearted celebrities attended the event including Khunying Dhipavadee Meksawan, Mr.Harald Link, Arunee Bhirombhakdi, Atchara Tejapaibul, M.L.Sirichalerm Svasti, M.L.Thongmakut and Jarujit Thongyai, Yuwadee and Nidsinee Chirathivat, Dararatana and Toey Mahadumrongkul, Chadapah Snidvongs, Captain Deuntemduang Na Chiengmai, Pimpawan Limpichart, Joy Sopitpongstorn, Panitnuj Bunnag, Piranuj T.Suwan, Sodsoi Chomthavat, Mayura Savetsila, Wanchana Sawasdee and more.
The exhibition showcased of over 70 oil painting of roses flowers by artist and art lecturer Narin Phothisombat. Narin Phothisombat is a talented artist with an art degree from Chiang Mai Technology Rajchamonkol. His painting was inspired by roses from Phra Tamnak Bhubing Rajanives (Bhubing Palace). His painting reflected his pride and passions towards the beauty of nature for roses including Queen Sirikit, Eliza, Rouge Meilland, Queen Elizabeth and Royal Air Force.
In addition there was the charity auction on 2 oil painting pieces. The first one was the painting of Queen Elizabeth which won by Harald Link, CEO of B.Grimm for 120,000 Baht and the other piece on Queen Sirikit won by Arunee Bhirombhakdi for 75,000 Baht.
The exhibition showcased of over 70 oil painting of roses flowers by artist and art lecturer Narin Phothisombat. Narin Phothisombat is a talented artist with an art degree from Chiang Mai Technology Rajchamonkol. His painting was inspired by roses from Phra Tamnak Bhubing Rajanives (Bhubing Palace). His painting reflected his pride and passions towards the beauty of nature for roses including Queen Sirikit, Eliza, Rouge Meilland, Queen Elizabeth and Royal Air Force.
In addition there was the charity auction on 2 oil painting pieces. The first one was the painting of Queen Elizabeth which won by Harald Link, CEO of B.Grimm for 120,000 Baht and the other piece on Queen Sirikit won by Arunee Bhirombhakdi for 75,000 Baht.
Friday, November 20, 2009
Join to travel and experience the ‘Journey of Faith’ with THAI ValuePlus Card
Thai Airways International Public Company Limited launches ‘THAI ValuePlus Card’, a prepaid airfare card to a more affordable journey of faith to cultural travel and pilgrimages to Buddhist landmarks across Asia. The THAI ValuePlus Card offers the traveling to many faith destinations across Asia includes the Republic of China – Hong Kong, Taiwan, Myanmar, Indonesia, Sri Lanka, Korea, Japan as well as the site of the Buddha’s enlightenment in India and Nepal. The launching event is held at Fashion Gallery, Siam Paragon.
Ms.Ratanawalee Loharjun, THAI’s Director of Brand Management and Commercial Communications Department said ‘the world is now chaotic where more and more people are seeking peace and finding out how to lessen the tense. In view of peak period for faith journey, THAI is proud to be the national carrier of Thailand for passenger satisfaction and trust to variety faith routes. In addition, throughout our business alliances and supports, the passengers will earn an extra convenience to various faith destinations.’
Mr.Krittaphon Chantalitanon, THAI’s Director Area Thailand, Indo-China & The Union of Myanmar said ‘in order to serve traveling demands of the faith market, THAI increases the non-stop flights to Varanasi and Bodhgaya in India to seven flights/ per week, effective since October 25, 2009. In addition, the increasing frequencies to other routes in winter schedule have also been added.’
Today, THAI introduces THAI ValuePlus Card, the more affordable way to reach to wisdom and peace. Passengers can fly to the spiritual journey in nine countries across Asia includes the Republic of China – Hong Kong, Taiwan, Myanmar, Indonesia, Sri Lanka, Korea, Japan to the site of the Buddha’s enlightenment in India and Nepal. The THAI ValuePlus Card is priced from 9,000 Baht (inclusive of airport tax and charges). The card is available in a package of 2 cards.
Economy class
Bangkok-Colombo, Taipei, Yangon, Hong Kong at 9,000 Baht net / per card
Bangkok- Jakarta, Shanghai, Denpasar at 12,900 Baht net / per card
Bangkok- Seoul, Tokyo, Busan, Osaka at 15,900 Baht net / per card
Bangkok- Gaya, Kathmandu, Delhi, Varanasi at 20,000 Baht net / per card
In addition, there is a bonus coupon of 1,500 Royal Orchid Plus Miles per pack for route Bangkok- Colombo/ Taipei/ Yangon/ Hong Kong/ Jakarta/ Shanghai/ Denpasar. There is a bonus coupon of 2,000 Royal Orchid Plus Miles per pack for route Bangkok – Seoul/ Tokyo/ Busan/ Osaka. For the route to Gaya/ Kathmandu/ Delhi/ Varanasi, passengers are qualified to earn miles in offering distance as Royal Orchid Plus members. For more information, please contact at Tel 0-2356-1111 or visit website www.thaiairways.com / www.thaiairways.co.th.
The launching event also invites guest celebrities to share their experience on the faith journey including Ajarn Paothong Thongchua, a guru on fine arts and archaeological consultant; Ms.Siriluck Maithai, Executive Director of Emporium Shopping Complex, Ms.Saithip Montrikul Na Ayudhaya, Managing Director of A-Time Traveller and Ms. Arunosha Bhanupan, Producer of Broadcast Thai Television.
Ajarn Paothong Thongchua, a guru on fine arts and archaeological consultant said ‘faith is untouchable. Having faith in yourself is a ticket to success. In life something we do either succeed or fail; however, if there is a faith in yourself, it will push you forward and start to try again until the goal is reached.’
Ms.Siriluck Maithai, Executive Director of Emporium Shopping Complex said ‘faith is more than belief, it is the powerful strength. Faith means trusting in something external. It is considered to imply that there is a being or power which create life practicing and shape our destiny. If we understand the Buddha Dharma, faith becomes more intense. It will motivate us to ground our lives in true morality. It is not merely an appreciation of the ideal but a desire to move towards it.’
Ms.Arunosha Bhanupan, Producer of Broadcast Thai Television said ‘strong faith will purify mind and lead to happiness life. People are of varying natures and types, have different demands and passions. Buddhist faith develops through the cultivation of wisdom and deeper understanding of a life that is born with nothing.’
Travel with THAI Value Plus Card to the journey of faith. For more information, visit website www.thaiairways.com / www.thaiairways.co.th.
Ms.Ratanawalee Loharjun, THAI’s Director of Brand Management and Commercial Communications Department said ‘the world is now chaotic where more and more people are seeking peace and finding out how to lessen the tense. In view of peak period for faith journey, THAI is proud to be the national carrier of Thailand for passenger satisfaction and trust to variety faith routes. In addition, throughout our business alliances and supports, the passengers will earn an extra convenience to various faith destinations.’
Mr.Krittaphon Chantalitanon, THAI’s Director Area Thailand, Indo-China & The Union of Myanmar said ‘in order to serve traveling demands of the faith market, THAI increases the non-stop flights to Varanasi and Bodhgaya in India to seven flights/ per week, effective since October 25, 2009. In addition, the increasing frequencies to other routes in winter schedule have also been added.’
Today, THAI introduces THAI ValuePlus Card, the more affordable way to reach to wisdom and peace. Passengers can fly to the spiritual journey in nine countries across Asia includes the Republic of China – Hong Kong, Taiwan, Myanmar, Indonesia, Sri Lanka, Korea, Japan to the site of the Buddha’s enlightenment in India and Nepal. The THAI ValuePlus Card is priced from 9,000 Baht (inclusive of airport tax and charges). The card is available in a package of 2 cards.
Economy class
Bangkok-Colombo, Taipei, Yangon, Hong Kong at 9,000 Baht net / per card
Bangkok- Jakarta, Shanghai, Denpasar at 12,900 Baht net / per card
Bangkok- Seoul, Tokyo, Busan, Osaka at 15,900 Baht net / per card
Bangkok- Gaya, Kathmandu, Delhi, Varanasi at 20,000 Baht net / per card
In addition, there is a bonus coupon of 1,500 Royal Orchid Plus Miles per pack for route Bangkok- Colombo/ Taipei/ Yangon/ Hong Kong/ Jakarta/ Shanghai/ Denpasar. There is a bonus coupon of 2,000 Royal Orchid Plus Miles per pack for route Bangkok – Seoul/ Tokyo/ Busan/ Osaka. For the route to Gaya/ Kathmandu/ Delhi/ Varanasi, passengers are qualified to earn miles in offering distance as Royal Orchid Plus members. For more information, please contact at Tel 0-2356-1111 or visit website www.thaiairways.com / www.thaiairways.co.th.
The launching event also invites guest celebrities to share their experience on the faith journey including Ajarn Paothong Thongchua, a guru on fine arts and archaeological consultant; Ms.Siriluck Maithai, Executive Director of Emporium Shopping Complex, Ms.Saithip Montrikul Na Ayudhaya, Managing Director of A-Time Traveller and Ms. Arunosha Bhanupan, Producer of Broadcast Thai Television.
Ajarn Paothong Thongchua, a guru on fine arts and archaeological consultant said ‘faith is untouchable. Having faith in yourself is a ticket to success. In life something we do either succeed or fail; however, if there is a faith in yourself, it will push you forward and start to try again until the goal is reached.’
Ms.Siriluck Maithai, Executive Director of Emporium Shopping Complex said ‘faith is more than belief, it is the powerful strength. Faith means trusting in something external. It is considered to imply that there is a being or power which create life practicing and shape our destiny. If we understand the Buddha Dharma, faith becomes more intense. It will motivate us to ground our lives in true morality. It is not merely an appreciation of the ideal but a desire to move towards it.’
Ms.Arunosha Bhanupan, Producer of Broadcast Thai Television said ‘strong faith will purify mind and lead to happiness life. People are of varying natures and types, have different demands and passions. Buddhist faith develops through the cultivation of wisdom and deeper understanding of a life that is born with nothing.’
Travel with THAI Value Plus Card to the journey of faith. For more information, visit website www.thaiairways.com / www.thaiairways.co.th.
Thursday, November 12, 2009
Northrop Grumman unloads government consulting unit
Northrop Grumman agreed on Sunday to sell its TASC government consulting unit to the private equity firms Kohlberg Kravis Roberts and General Atlantic for $1.65 billion in cash, in another sign that private equity firms are back to their core business of deal-making.
The sale follows last year's deal by the Carlyle Group for Booz Allen Hamilton's government consulting business.
Northrop began talking about selling TASC, which provides technology con-sulting services, several months ago to satisfy stricter requirements on conflicts of interest facing military contractors,according to a person briefed on the matter. These companies cannot provide consulting services to the government while also trying to sell it products.
Northrop's options included arranging an initial public offering of the unit,selling it to a strategic buyer or striking a deal with private equity firms.
Of those, the last option emerged as the most attractive, allowing TASC to reap additional investment for expansion and for holding onto its management team, led by Wood Parker, the business'general manager and prospective chief executive.
"This transaction is in the best interest of Northrop Grumman's customers, employees and shareholders," Ronald D.Sugar, Northrop's chairman and chief executive, said in a statement."It reflects Northrop Grumman's desire to align quickly with the government's new organisational conflict of interest standards,while preserving TASC's unique organisational culture and its status as the advisory services employer of choice."
Based in Chantilly, Virginia, TASC has about 5,000 employees. Northrop said the unit expected to earn about $1.6 billion in revenue this year.
Northrop said it expected to reap about $1.1 billion of net cash proceeds through the sale. It will use that money to buy back stock.
The deal is expected to close by the end of the year.
Several other big private equity firms have announced leveraged buyouts over the last month, including the Blackstone Group's purchase of Anheuser-Busch InBev's theme parks and TPG and Canada Pension Plan Investment Board's acquisition of IMS Health.
With the improvement of the credit markets over the last year, private equity firms have been able to put their billions of dollars in capital to use. Their investors,who had previously been reluctant to provide the money for new takeovers,are now pressing for more deal-making to see better returns on their capital.
However, even the largest leveraged buyout this year, the $4 billion takeover of IMS, was dwarfed by the sweeping takeovers of TXU and Equity Office Properties in 2007. That is partially because private equity firms can borrow less debt for their deals.
KKR and General Atlantic will receive financing from Barclays Capital,Deutsche Bank and RBC Capital Markets and the Canadian Pension Plan Investment Board.
Sunday's deal demonstrated some of KKR's efforts to expand its business and become less reliant on outside banks for help. Its KKR Capital Markets unit will arrange a sale of bonds supporting the transaction, having already lined up Highbridge Mezzanine Partners, a unit of Highbridge Capital Management, as the lead investor.
The sale follows last year's deal by the Carlyle Group for Booz Allen Hamilton's government consulting business.
Northrop began talking about selling TASC, which provides technology con-sulting services, several months ago to satisfy stricter requirements on conflicts of interest facing military contractors,according to a person briefed on the matter. These companies cannot provide consulting services to the government while also trying to sell it products.
Northrop's options included arranging an initial public offering of the unit,selling it to a strategic buyer or striking a deal with private equity firms.
Of those, the last option emerged as the most attractive, allowing TASC to reap additional investment for expansion and for holding onto its management team, led by Wood Parker, the business'general manager and prospective chief executive.
"This transaction is in the best interest of Northrop Grumman's customers, employees and shareholders," Ronald D.Sugar, Northrop's chairman and chief executive, said in a statement."It reflects Northrop Grumman's desire to align quickly with the government's new organisational conflict of interest standards,while preserving TASC's unique organisational culture and its status as the advisory services employer of choice."
Based in Chantilly, Virginia, TASC has about 5,000 employees. Northrop said the unit expected to earn about $1.6 billion in revenue this year.
Northrop said it expected to reap about $1.1 billion of net cash proceeds through the sale. It will use that money to buy back stock.
The deal is expected to close by the end of the year.
Several other big private equity firms have announced leveraged buyouts over the last month, including the Blackstone Group's purchase of Anheuser-Busch InBev's theme parks and TPG and Canada Pension Plan Investment Board's acquisition of IMS Health.
With the improvement of the credit markets over the last year, private equity firms have been able to put their billions of dollars in capital to use. Their investors,who had previously been reluctant to provide the money for new takeovers,are now pressing for more deal-making to see better returns on their capital.
However, even the largest leveraged buyout this year, the $4 billion takeover of IMS, was dwarfed by the sweeping takeovers of TXU and Equity Office Properties in 2007. That is partially because private equity firms can borrow less debt for their deals.
KKR and General Atlantic will receive financing from Barclays Capital,Deutsche Bank and RBC Capital Markets and the Canadian Pension Plan Investment Board.
Sunday's deal demonstrated some of KKR's efforts to expand its business and become less reliant on outside banks for help. Its KKR Capital Markets unit will arrange a sale of bonds supporting the transaction, having already lined up Highbridge Mezzanine Partners, a unit of Highbridge Capital Management, as the lead investor.
Wednesday, November 4, 2009
INDEX CREATIVE IN WORLD EXPO TOUR VENTURE
Event-organiser Index Creative Village has joined hands with Total Reservation and travel agency Starbridge to be the ticket sales agent and organiser of World Expo Tour, aiming at generating revenue of more than Bt100 million next year.
This is part of the company's Spider Web Strategy, targeted at extending its event-organiser business to other areas.
Index co-chief executive officer Kreingkrai Kanjanapokin yesterday said it had set up joint ventures with Total Reservation, the ticket-sales firm under Impact Exhibition Management, and with Starbridge. The investment proportion of each JV is 50:50.
Index won the bidding to create the Thai Pavilion at the World Expositin Shanghai China 2010, or World Expo, the world's biggest exhibition featuring the latest architecture, arts and technology of each participating country.
The expo will be held from May 1 to October 31 next year. The Thai Pavilion is being constructed onsite in shanghai at a cost of Bt600 million.
"This World Expo is the biggest one in term of investment size and countries taking part, as well as the closest venue to date for Thai people wishing to experience the world phenomenon. I, as one of the World Expo gurus who have a passion for the event, think this is a good time to organise a tour and sell tickets for Thai people and open the opportunity for them to experience the expo," Kreingkrai said.
The Chinese government and attending countries are investing a combined Bt1 trillion to build facilities for the expo and create pavilions, he added.
He said Total Reservation had been authorised as the sales agent for the World Expo in Thailand. It plans to start selling tickets next month. Index and Total Reservation expect to sell Bt25 million worth of tickets for the event.
Meanwhile, Starbridge - the other partner in the venture - will organise the Fast Track World Expo Shanghai Tour during the exhibition. Index and Starbridge hope to generate revenue of Bt80 million from this activity.
Kreingkrai said Index aimed firstly to target corporate clients and others interested in experiencing the latest architecture from several countries.
"This is not the first time Index has entered the tour business. We used to organise small group tours with people to the World Expo many times in the past. But this is the first time that we have joined hands with tour-agency and ticket-agency experts. This is a project in our Spider Web Strategy, aiming at extending our operations to other businesses. We expect to have more projects under this strategy next year," he said.
The World Expo 2010 covers 3,300 rai in Shanghai, equivalent to 489 football fields. Exhibitors from 166 countries will be taking part, creating 230 pavilions.
The Chinese government expects 70 million people to attend, generating Bt70 billion from ticket sales.
This is part of the company's Spider Web Strategy, targeted at extending its event-organiser business to other areas.
Index co-chief executive officer Kreingkrai Kanjanapokin yesterday said it had set up joint ventures with Total Reservation, the ticket-sales firm under Impact Exhibition Management, and with Starbridge. The investment proportion of each JV is 50:50.
Index won the bidding to create the Thai Pavilion at the World Expositin Shanghai China 2010, or World Expo, the world's biggest exhibition featuring the latest architecture, arts and technology of each participating country.
The expo will be held from May 1 to October 31 next year. The Thai Pavilion is being constructed onsite in shanghai at a cost of Bt600 million.
"This World Expo is the biggest one in term of investment size and countries taking part, as well as the closest venue to date for Thai people wishing to experience the world phenomenon. I, as one of the World Expo gurus who have a passion for the event, think this is a good time to organise a tour and sell tickets for Thai people and open the opportunity for them to experience the expo," Kreingkrai said.
The Chinese government and attending countries are investing a combined Bt1 trillion to build facilities for the expo and create pavilions, he added.
He said Total Reservation had been authorised as the sales agent for the World Expo in Thailand. It plans to start selling tickets next month. Index and Total Reservation expect to sell Bt25 million worth of tickets for the event.
Meanwhile, Starbridge - the other partner in the venture - will organise the Fast Track World Expo Shanghai Tour during the exhibition. Index and Starbridge hope to generate revenue of Bt80 million from this activity.
Kreingkrai said Index aimed firstly to target corporate clients and others interested in experiencing the latest architecture from several countries.
"This is not the first time Index has entered the tour business. We used to organise small group tours with people to the World Expo many times in the past. But this is the first time that we have joined hands with tour-agency and ticket-agency experts. This is a project in our Spider Web Strategy, aiming at extending our operations to other businesses. We expect to have more projects under this strategy next year," he said.
The World Expo 2010 covers 3,300 rai in Shanghai, equivalent to 489 football fields. Exhibitors from 166 countries will be taking part, creating 230 pavilions.
The Chinese government expects 70 million people to attend, generating Bt70 billion from ticket sales.
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