Thailand Financial News

Moody’s Investors Service’s ratings for the major Brazilian banks have stable outlooks, according to its annual report on the nation’s banking system. According to the report, the ratings are underpinned by the banks’ broad and diversified franchises and by a resilient credit expansion cycle, which have ensured that earnings generation is largely recurrent and sustainable.
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Moody’s Investors Service says the credit outlook for the Australian credit union sector for the rest of 2007 and into early 2008 is stable, given the improvement so far this year in the industry’s loan growth from 2006 and stabilising risk-adjusted profitability levels.

“Other supporting factors include improving efficiency, especially for the larger institutions, and the maintenance of conservative capital levels, which are commensurate with a relatively low risk profile,” says Marina Ip, a Moody’s Analyst and the author of a new report on the industry’s outlook.
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Thailand’s Bond Electronic Exchange (BEX) has listed five bond issues, totaling THB 5 billion (approx. USD 145.05 million), made up of three bonds issues from True Corporation PCL (TRUE), and two from the Ministry of Finance (MoF). Their details are:

1.
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Students in grades 1 – 12 will now be able to read about His Majesty the King’s principles of sufficiency economy in an text developed by The Stock Exchange of Thailand (SET)’s Thailand Securities Institute, together with the Ministry of Education’s Office of Basic Education Commission (OBEC), Siam Commercial Bank PCL (SCB), Thai Life Assurance Association (TLAA) and Thailand Productivity Institute.
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The U.S. distress ratio experienced its largest monthly increase since February 2003, according to an article published August 24, 2007 by Standard & Poor’s. The article, which is titled “U.S. Distressed Debt Monitor,” says that after five straight months at less than 1%, the distress ratio increased to 2.9% in August from 0.9% in July.
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The Venetian Macao, Asia’s First Las Vegas-Style Integrated Mega-Resort, Opens Its Doors to the World Epic Building to Set New Standard for Luxury and Excitement in Macao

With tens of thousands of guests, VIP’s, and more than 1,200 members of the media flocking from throughout the region and across the world to see it and experience it, The Venetian? Macao Resort Hotel opened its doors today and with it ushered in a new chapter in the storied history of Macao.
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TISCO Bank Plc. by Pliu Mangkornkanok, CEO received the “Shareholder Awards 2007″ for the Best Shareholder Treatment from Finance Minister Chalongpob Susangkarn at the “Shareholders’ Day” event, organized by Thailand Securities Depository Co.,Ltd.
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National Australia Bank (NAB) will sponsor a series of lectures and debates to discuss how to make Australia the financial hub for Asia and develop global financial service excellence areas.

NAB Group CEO, John Stewart, today outlined his vision for Australia to be the global financial services hub of Asia.
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Fitch Ratings has affirmed the ratings on Taishin Credit Card Receivables Special Purpose Trust Series 2005-1 (Taishin) as follows:

- NTD8,700 million Class A Beneficiary Certificates: ‘AAA(twn)’; — www.theasianbanker.com (August 29 2007)–
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Fitch Ratings has upgraded the Long-term foreign and local currency Issuer Default Ratings (IDRs) and Individual ratings of Mitsubishi UFJ Financial Group’s (MUFG) operating banks - Bank of Tokyo-Mitsubishi UFJ (BTMU) and Mitsubishi UFJ Trust and Banking Corporation (MUTB).
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