Thailand Financial News

President and CEO of Tralliance Corporation, Edward A. Cespedes, will address EXPOTUR 2008 in San Jose, Costa Rica early next week. EXPOTUR is an annual event hosted by ACOPROT, the Costa Rican Association of Professionals in Tourism, and has been taking place since 1985.
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ASIASOFT EXPECTS OFFERED PRICE TO BE BETWEEN BT10-12; LOMBARD ASIA III FUND TO INVEST IN THE COMPANY SUBSCRIPTION CONFIRMED ON 20-22 MAY Asiasoft Corporation Public Company Limited confirmed today its initial public offering (IPO) plan, expecting to announce the actual offered price by 16 May 2008.
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Strategic Partnership to Strengthen BII’s Custody Business as a Global Player Citi Indonesia and PT Bank International Indonesia, Tbk. (BII) have announced a strategic partnership. In Indonesia, BII has appointed Citi Global Transaction Services as its custodian bank to provide safekeeping and transaction handling of debt instruments in offshore markets.

Under the terms of the appointment BII can enter into and settle its custodial transactions in Europe and the United States markets, through Citi Indonesia’s Securities and Fund Services’ (SFS) direct access to both the Euroclear and Clearstream global central securities depositories.

– www.theasianbanker.com (May 9 2008)–
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Commonwealth Bank Group has created a portfolio of A$15.6 billion of residential mortgage-backed securities (RMBS) through its Medallion Trust. These RMBS will be held by the Group and if required, the Class A notes can be used for repurchase agreements with the Reserve Bank of Australia (RBA) to generate up to an additional $12.25 billion of liquidity for the Group.

The assets of the Trust comprise fixed and variable interest rate mortgage loans originated from the Group’s home loan portfolio and from the portfolio of Homepath Pty Limited, a wholly owned subsidiary.
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Euroclear has announced a major new FundSettle initiative, with Europe’s leading fund promoters, to entice fund distributors still processing fund transactions manually to automate and standardise their back-office practices. Fully automating transaction processing in the fund industry will save the market an estimated EUR 300 million.

With only about half of all fund transactions in Europe currently processed using automated solutions like FundSettle, overall costs and risks for end investors remain unnecessarily high and the growth potential for funds is restricted.
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Raiffeisen International Bank-Holding AG, a member of the RZB Group headed by Raiffeisen Zentralbank ?sterreich AG, continued its course based on organic growth during the first quarter of 2008. Consolidated profit (after tax and minorities) for the first three months increased by 32.1 per cent to 254.4 million euros (Q1/2007: 192.6 million euros).
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Fitch Ratings has affirmed the Individual and Support ratings of MCB Bank Limited (MCB) at ‘D’ and ‘5′ respectively, following the announcement that Malayan Banking Berhad (Maybank, foreign and local currency Issuer Default Ratings of ‘A-’ (A minus)/ Rating Watch Evolving) would be acquiring up to 20% in MCB from the latter’s largest shareholder, the Nishat group.

MCB’s Individual rating at ‘D’ reflects its satisfactory financial profile as characterised at end-Q108 by a ROA of 3.9%, equity/assets ratio of 12.1% and gross non-performing loans (NPL) ratio of 4.8%, in the context of a weak and volatile operating environment in Pakistan which still poses significant challenges and political risks.
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Mounting defaults in 2008 come as hardly surprising, overdue if anything, said an article published today by Standard & Poor’s. The article, which is titled “U.S. Credit Comment: The Bust After The Boom (Premium),” says that years of an accommodative economic and financial environment have emboldened many entities to adopt more aggressive financial policies to spur growth amid increased domestic and global competition.
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SCB Securities Co., Ltd. is pleased to announce the appointment of new director and executive of the company as follows:

It was resolved in the Board of Directors’ meeting on 7th May 2008 to appoint Mr. Boonchai Sriprachaya-Anunt as director and Chief Executive Officer of SCB Securities Co., Ltd.
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NIDO OIL… Nido Identifies 11.6 Billion Barrels of Oil-in-Place Potential; Seeks a Strategic Partner PERTH - Nido Petroleum Ltd is pleased to announce that after completing several large seismic surveys, its deepwater prospects and leads inventory in the NW Palawan basin has oil-in-place potential of 11.6 billion barrels.
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