Thailand Financial News

HEALTHCARE MARKETPLACE… NEW YORK - The world’s first permanent international healthcare marketplace and education center will open in less than five years, the key players driving the project said today, as plans for the Midtown Manhattan tower have been finalized and marketing has begun.
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Moody’s Investors Service has today downgraded the B1 corporate family and senior unsecured bond ratings of True Corporation Public Company Limited (”True Corp”) and its 75.3%-owned subsidiary, True Move Company Limited (”True Move”), to B2. The outlook on all the ratings remains negative.

“This action follows the recent announcement of True Move’s Q3 2008 results which, in Moody’s view, raise concerns over the company’s ability to comply with its existing covenants at the next test date in December 2008, particularly with regard to the net debt/EBITDA covenant under its bank facilities,” says Laura Acres, a Moody’s Vice President.

Miss Chutathip Chareonlarp, Director of the Tourism Authority of Thailand (TAT) Phra Nakhon Si Ayutthaya Office said that, Phra Nakhon Si Ayutthaya province, in cooperation with the Phra Nakhon Si Ayutthaya Provincial Administrative Organization, Phra Nakhon Si Ayutthaya Municipality, Fine Arts Department, TAT Phra Nakhon Si  Ayutthaya Office, and relevant public and private agencies, will arrange the “Ayutthaya World Heritage and Red Cross Fair 2008”, during 12 – 21 December, 2008, at Phra Nakhon Si Ayutthaya Historical Park to celebrate the occasion that the UN World Heritage Committee announced the Phra Nakhon Si Ayutthaya Historical Park as a Cultural World Heritage Site in 1991.

In this event, there will be many interesting activities.
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Perfect World Co., Ltd. (Nasdaq: PWRD) (”Perfect World” or the “Company”), a leading online game developer and operator in China, announced that it launched the “You Are My Destiny” expansion pack for “Hot Dance Party” today.

“Hot Dance Party” was the first 3D online casual game that Perfect World developed with its proprietary Angelica 3D game engine.
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PTTEP and Murphy Australia Oil Pty Ltd. had another breakthrough in their joint investment when they won the rights to explore for petroleum in a block in Australia. It comes only one week after the announcement that PTTEP had teamed with another Murphy entity to gain the rights for petroleum exploration in Indonesia.

Mr Anon Sirisaengtaksin, CEO of PTT Exploration and Production Public Company Limited or PTTEP said that the company received the rights for petroleum exploration in Block WA-423-P after participating in the 2008 Australian bidding round.
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The Basel Committee on Banking Supervision announced a comprehensive strategy to address the fundamental weaknesses revealed by the financial market crisis related to the regulation, supervision and risk management of internationally-active banks. Nout Wellink, Chairman of the Basel Committee said that “the Basel Committee’s work programme is well advanced and provides practical responses to the financial stability concerns raised by policy makers related to the banking sector.” Mr Wellink added that “the primary objective of the Committee’s strategy is to strengthen capital buffers and help contain leverage in the banking system arising from both on- and off-balance sheet activities.” It will also promote stronger risk management and governance practices to limit risk concentrations at banks.
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Euroclear and the International Capital Market Association (ICMA) signed an agreement whereby Euroclear SA/NV will acquire 100% of Xtrakter Ltd, the ICMA subsidiary, for an undisclosed cash amount. Xtrakter owns TRAX, a trade matching and regulatory reporting system that also provides market and reference data.
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Fitch Ratings has affirmed IndusInd Bank Limited’s (IndusInd) National Long-term rating at ‘A(ind)’ with Stable Outlook. At the same time, the agency has downgraded the ratings of IndusInd’s INR3.08bn upper tier 2 bonds to ‘BBB+(ind)’ from ‘A-(minus)(ind)’.
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Leading international law firm Clifford Chance has advised China Development Bank as the mandated lead arranger of the financing for a new pipeline that will deliver natural gas from Central Asia to China. The 1,818km pipeline is part of the Central Asia-China pipeline and is expected to cost $11 billion.
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Only securities-focused financial institution in Taiwan adopts NumeriX to enhance risk measures across the organization NumeriX, the leading independent provider of advanced analytics for the derivative and structured products markets, announced that Yuanta Financial Holdings has deployed NumeriX Excel within its risk department.
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