The company has yet to decide the date for its shares reservation, which could be either September 29 through 30 or August 2 through 4, according to people involved with the matter.

“The IPO date is not yet clear, but the enlisted date is pre-determined at August 11 ahead of the market long holiday period,” the news source said.

IFS will sell 120 million common shares at the event.

The company provides cash flow solutions service to manufacturer customers such as account receivable and account payable funding at both local and international markets.

The SET said in a statement the company will be delisted from trading on September 16, 2010 due to its performance does not meet the SET minimum requirements.

She said the board of the company agreed to increase its registered capital to 4.99 billion baht from currently 1.42 billion baht through its warrant issue of one share per three new shares.

Shareholders’ structure of the company remained unchanged after the capital raising process.

Somreudee Chaimongkol, vice-president for finance at the company, said Phatra Securities will be responsible for financial advisory activities including assets and price valuations processes.

She said the company determined to postpone its capital raising plan from this year to the next due to the ethanol and the Thai capital markets sluggishness.

“The market competition is pretty fierce at the ethanol production industry. We are in the process of ramping up investment in order to boost capacity in both terms of output and competitiveness,” Ms. Somreudee commented.

Thai Agro Energy is investing on a new production plant which is financed by lending sources. The company initially planned to fund its second plant using capital raised in the stock market. The decision has been shelved until construction is finished.

Thai Agro Energy currently has capacity of 200,000 liters per day using cassava as material for its main ethanol production.

The company plans to operate its second production line by the first quarter of 2011.

It predicted net income for 2010 will be at the same level as of 2009 due to higher material costs.

Thai Agro Energy plans to sell 200 million shares in the initial public offering (IPO). Pricing has yet to be set.

The central bank said the economic turnaround will created even more jobs and spending.

Moreover, the government’s announcement of a general salary raise package for state-workers nationwide has been boosting the consumption.

Paiboon Kittisrigangvan, director of monetary policy, commented that the country has shown sign of expanding in export, pushed by the global recovery. Most central banks also raise their key policy rate to support growth.

Mr. Paiboon said the tourism industry will lead the recovery, while the consumption and production are projected to expand through the rest of the year as intensive street protest during April and May has limited impact on the economic.

“The low interest period is over. The rate now should be flexible and adaptive in line with the global and the regional market,” he commented.

Associate Professor Dr. Sompob Manarangsa commented it is not the appropriate time right now to push that burden to average consumers.

“VAT increase is associated with the risk of economic unstabilization, because of higher cost of manufacturing,” he said.

“The manufacturers will eventually push away this kind of burden to product buyers, and thus prompts stop spending,”

He said the Thai economy has just turnaround from the recent regression and it is too soon to take the approach.

Dr. Sompob suggests the government considering revising its inheritance and property tax structure as an alternative resource for funding its populist projects.

Thammasart University’s Associate Professor Dr. Somchai Pakapasvivat warns that the government is going to follow the same trouble which has happened in several countries in Latin America.

He said the country’s loan to reserve fund is at a low level currently. This should be adequate to fund the country’s any necessary fundamental development projects. The government should focus more on a midterm or long term policy in order to sustain its financial stabilization.

In the meantime, Chamber of Commerce University’s Associate Professor Dr. Thanavat Pholvichai has raised the eyebrows with the government’s purpose to use the funding.

He said he is strongly disagreed with the populist policy. Instead, the government should give priority to an incentive foreign investment package to persuade even more investors to come to the country. Thailand’s investment tax is still high comparing with the neighboring countries’ average of 20 percent and Hong Kong’s 10 percent.

Mr. Abhisit’s administration recently announces it is considering hiking VAT rate to eight percent from currently seven percent to help fund several government development project in the country’s rural areas.