Thailand Financial News

Market for Alternative Investment (mai) and the Thai investors’ Association (TIA) will co-host ‘mai Company Visits’, providing an opportunity for TIA members, investors and the general public to visit firms listed on mai. The program will commence in June 2006.
The President of mai, Mr.
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Moody’s Investors Service has upgraded Krung Thai Bank’s (KTB) bank financial strength rating (BFSR) to “D-” from
“E+”. KTB’s debt and deposit ratings, which were not on review, are unaffected. The outlooks on all ratings are now stable. The bank’s deposit and debt ratings already incorporate government support, lifting them above the rating level typically associated with its intrinsic financial strength.
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The Stock Exchange of Thailand (SET) and Mahidol University’s College of Music will co-produce Thai music recordings performed by Thailand Philharmonic Orchestra (TPO). The joint project will promote, publicize and preserve Thai music, as well as develop classical Thai music composition and appreciation.
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Citibank India, a part of Citigroup, the world’s leading provider of financial services, has launched “CitiBusiness,” a suite of business and financial solutions targeted at the small businesses and professionals (SBP) community with annual turnovers of up to Rs.
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According to statistics published today (Tuesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew by 2.5% in April 2006. Of the total, Hong Kong dollar and foreign currency deposits rose by 2.3% and 2.7% respectively.
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Fitch Ratings said today that the recently published securitisation rules in China could help the growth of the country’s emerging securitisation market, and the agency expects this could lead to more securitsations in the next two years.
The three new ministry level rules published last year and this year provide a basic legal framework for securitisation in China.
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Celtel International, a subsidiary of MTC Group of Kuwait and a leading mobile operator in Africa, has announced that it has concluded a transaction to acquire a controlling stake of 65% in Vmobile, one of Nigeria’s leading mobile telecom operators, for US$1.005 billion.
This transaction marks the company’s largest ever acquisition and will expand Celtel’s presence to 15 markets on the African continent.
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Maybank is committed to maintaining a high standard of corporate governance and good corporate social responsibility as part of its business mission said its Deputy President, Dato’ Mohammed Hussein when receiving the Malaysian Business Award in the Corporate Social Responsibility category.
“Our philosophy is to grow with responsibility and to contribute meaningfully towards social and community related projects.
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In another move to become the preferred bank for small and medium-sized enterprises (SMEs) in Hong Kong, Hang Seng Bank has expanded its delivery channels for SMEs.
Among the new business initiatives is the launch of Business Partner Direct — a 24-hour manned SME service hotline (2198-8000), which came into operation today.
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Citibank India, a part of Citigroup, the world’s leading provider of financial services, today announced the launch of a new product targeted at the NRI (Non-Resident India) and PIO (Persons of Indian Origin) community of Canada. This new offering will enable the large and growing population of Indo-Canadians to avail of a Home Loan of up to Rs.5 crore (approximately CAD $1.13 million) for purchase of residential property, both ready or under construction.
The NRI Home Loan is available through Citibank’s NRI network (1-800-CITI-NRI) in Toronto and Vancouver in Canada.
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