Thailand Financial News

Standard & Poor’s credit and equity analysts, along with outside experts, will examine some of the less-prominent–but promising–emerging market economies at “Beyond BRIC,” a Standard & Poor’s conference organized in cooperation with The Asia Society and Americas Society/Council of the Americas.
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Scotiabank today announced that it has reached an agreement to acquire 24.99 per cent of Thanachart Bank, Thailand’s eighth-largest bank and leading automobile lender, for Bht7.1 billion (approximately Cdn$240 million). Scotiabank will purchase 156,501,200 shares from Thanachart Capital and 276,975,500 new shares issued by Thanachart Bank at Bht16.37 per share.

The transaction is subject to the completion of definitive documents and regulatory approval and is expected to close by June 30, 2007.  The transaction will provide for proportionate Scotiabank representation on the Thanachart board of directors, as well as strong participation in Thanachart Bank management.

Scotiabank today announced that it has reached an agreement to acquire 24.99 per cent of Thanachart Bank, Thailand’s eighth-largest bank and leading automobile lender, for Bht7.1 billion (approximately Cdn$240 million). Scotiabank will purchase 156,501,200 shares from Thanachart Capital and 276,975,500 new shares issued by Thanachart Bank at Bht16.37 per share.
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Air Berlin delivers a net profit of € 50.1 million for its financial year 2006, following a net loss of EU 115.9 million in the previous year. The airline managed not only to grow its revenues but also to lower its cost base. Air Berlin PLC also announces that it has agreed to acquire 100 % of the Dusseldorf based airline LTU.
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Unique Engineering and Construction PCL will be the first listing in The Stock Exchange of Thailand’s (SET) Property & Construction Industry Group this year after it raised funds worth THB 292.5 million (approx. USD 8.31 million) for property development and contractor business expansion.
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The Stock Exchange of Thailand (SET) subsidiary Money Channel will co-host ‘Money Channel Road Show’ in Phuket, providing area residents with games and learning activities featuring savings and investment. Attendees will have a chance to win gold necklaces, satellite dishes and cash to invest in mutual funds, worth more than THB 100,000 in total.
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Datacraft, the region’s leading independent IT solutions and services company, has been chosen by Bangkok University to design and deploy a new campus network to support its growing IT requirements. Founded in 1962, and offering courses in both English and Thai, Bangkok University has two campuses — City Campus and Rangsit Campus — which are 42 kilometres apart.  These cater for a growing population of approximately 30,000 undergraduate and postgraduate students and 1,200 of academic and administrative staff.
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Fitch Ratings today said in a special report that the credit outlook for the Thai power sector is generally stable for 2007. This is based on steady demand growth supported by relatively low electricity consumption per capita, limited competition as the market is dominated by state power utilities, and Fitch’s expectations of a stable regulatory environment.
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Mr. Chainoi Puankosoom, President of Rayong Refinery Public Company Limited (RRC), entered into long-term credit facilities agreements in a total amount of Baht 7,000 million with a group of local financial institutions, namely Krung Thai Bank Public Company Limited, Siam Commercial Bank Public Company Limited, Bangkok Bank Public Company Limited, Siam City Bank Public Company Limited, The Government Savings Bank, and TMB Bank Public Company Limited.

Mr.
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- Number One Leader in Notebook Sales during 4 Day-Exhibition - Acer Computer Co., Ltd. announced its success in the sales amount during the Commart exhibition 2007.  The company broke all Commart’s records by the total sales of notebook products over 15,000 units during the Commart exhibition.
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