RATINGS / Fitch downgrades outlook to negative Fitch Ratings yesterday cut its ratings outlook for Thailand to negative due to rising political risk. The agency affirmed Thailand’s long-term foreign and local currency ratings at BBB+ and A. Short-term foreign ratings were affirmed at F2 with t... Read more.
ING reiterates: no sale of shares in TMB Bank BANGKOK, Oct 21 (TNA) — After the Dutch-based ING Group received 10 billion euros to shore up its capital position, its subsidiary ING Life in Thailand, announced Tuesday that it would not sell its 30 per cent stakeholding in TMB Bank in this count... Read more.
BoT, Bangkok’s bankers assess impact of global economic crisis BANGKOK, Oct 17 (TNA) – Executives from Thailand’s central bank and from the country’s private banks met over three days this week in response to a Bank of Thailand (BoT) initiative to assess the impact of the global ... Read more.
ELECTRICITY Laos plant plans to open early YUTHANA PRAIWAN VIENTIANE : The Nam Ngum 2 hydropower plant in Laos may start operations four months earlier than scheduled in an attempt to earn more income to offset the unexpected rise in construction costs, said South East Asia Energy Co (SEAN), the pro... Read more.
BANKING TMB plans to build up assets SOMRUEDI BANCHONGDUANG TMB Bank aims to double its market share in terms of assets over the next few years, said chief executive Boontuck Wungcharoen. Under a three-year business plan, TMB aims to lift its deposit market share from 7% this year to 9% next year an... Read more.
IN Brief BT raising funds BANKING :BankThai shareholders yesterday approved the issue of 6.674 billion new shares in a rights issue to double registered capital to 50 billion baht. The new shares have a par value of 3.75 baht each, and will be offered on a 1:1 basis to existing shareholders. Pricing... Read more.
STATE OF EMERGENCY Bank branches close on safety fears SOMRUEDI BANCHONGDUANG Local banks closed more than 20 of their branches in Bangkok yesterday following the declaration of emergency. Most of the branches are located near Ratchadamnoen Road and Koh Rattanakosin. Bank officials said the temporar... Read more.
IN Brief KTC profit warning FINANCE :Krungthai Card Plc issued a profit warning yesterday, saying that its 2008 earnings would at best be similar to last year, lower than analysts’ forecasts, due to stricter regulations, a slowing economy and political unrest. The country’s top credit ca... Read more.
