Kata Rocks

Intercon Group appoints new CEO
Friday 25 March 2011, 03:36AM
More cars for Phuket
Friday 25 March 2011, 01:56AM
Competition in the car market is set to increase after Mitsubishi opened a new dealership and Chevrolet Phuket launched its Cruze at Central Phuket Festival, both on March 21. Mitsubishi’s new Phuket Piya is located at Sapam, and is the second dealership on the island for the Japanese car manufacturer. Phuket Piya’s Managing Director, Bunpot Rataree, said the initial goal of the second dealership was to provide support to the first dealer and their customers. “At the first stage we are not aiming for numbers of sales. We would like to be another new garage providing good services and good quality cars for customers,” Mr Bunpot said. Mitsubishi has invested about B25 million in the new dealership, and used the opening to launch their new Lancer EX. Also on Monday, VST Autosales, the Phuket dealer for Chevrolet, launched the new Chevrolet Cruze at Central Phuket Festival, accompanied by a performance by Thai pop group Girly Berry. VST Managing Director, Kriangsak Jarunonwiwat, said he hoped the new Cruze would be able to take market share from similar cars, such as Toyota’s Altis and Honda’s Civic. “Since we have moved the showroom and launched many new products, we are confident that Chevrolet sales this year will reach our target of 700 cars from all categories,” he said. The American car manufacturer is currently fifth in Phuket in terms of vehicle sales. According to statistics from the Phuket Provincial Transportation Office, more than 235,000 motorcycles and 106,000 cars were registered in Phuket as of March 18.
Apple stockholders keep CEO succession plan private
Thursday 24 February 2011, 10:38PM
 Apple stockholders on Wednesday voted down a proposal that would have compelled the notoriously secretive technology star to reveal how it would handle the departure of chief executive Steve Jobs. Apple's board had recommended the proposal to be rejected at the annual meeting of shareholders at the company's headquarters in Cupertino, California, on the grounds it would give rivals inside information. The meeting was presided over by Apple chief operating officer Timothy Cook, who has been at the company's helm since January 17 when Jobs went on an indefinite leave of absence for medical reasons. Jobs, who turns 56 years old on Thursday, has reportedly been taking meetings at home, keeping in contact by phone and even visiting Apple's campus to remain involved with the company. Last month Jobs stepped aside, his third medical leave since 2004, but did not say how long he expected to be away or provide any details about his latest health issues. He underwent an operation for pancreatic cancer in 2004 and received a liver transplant in early 2009. He appeared gaunt but relatively healthy at recent Apple public events. Apple's fortunes have been uniquely linked to Jobs, who returned to the then flagging company in 1997 after a 12-year absence and introduced innovative and wildly successful products like the iPod, iPhone and iPad. Some analysts and investors have criticized Apple for not clearly outlining how it would replace Jobs if the need arises. A proposal by a pension fund holding Apple stock made it to the ballot and, if passed, would have required require Apple to lay bare its CEO succession plan. The shareholder meeting came on the same day that Apple sent out invitations to a March 2 press event in San Francisco at which the company is expected to unveil the second-generation iPad. Apple finished last year with a record quarterly net profit of $6 billion on an unprecedented $26.74 billion in revenue.
New 200-room hotel for Bang Tao
Thursday 24 February 2011, 07:03AM
Singapore-based Castlewood Hotels & Resorts has announced the launch of a new 200-key hotel project near Bang Tao Beach. Castlewood Group’s in-house hospitality brand, 8over8, will manage the new hotel, which will consist of 200 luxury suites and a private rooftop penthouse. Cornerstone Management has been retained to ensure timely delivery of the hotel. Two purchase options are available to investors; the first gives buyers a guaranteed return of five per cent for the first three years, then three percent for a further seven years. The second offers a return of five per cent for the first three years, then full revenue from the hotel’s rights of use policy for the following seven years. Chris Comer, Castlewood Group’s Managing Director for Southeast Asia, commented, “Our team here in Singapore are equipped with a wealth of experience in all types of real estate investment. We looked at various hotel investment models globally and researched as many success stories as we did failures. “It was apparent that there were real fundamental issues which had not been addressed when developing a lot of these hotels, especially those that were not so successful. One factor was the selection of the right location.  “This is fuelled by the three key factors: existing realistic occupancy rates, existing good average daily room rates and a solid reason for massive immediate growth in demand for the area with a feasible growth forecast, too. For us the area close to Laguna Phuket ticked all of those boxes.” Completion of the new hotel at Bang Tao Beach in Phuket is scheduled for 2013. Castlewood also recently announced plans to expand their hotel brand to Koh Samui.