Thailand Financial News

TRIS Rating Co., Ltd. has affirmed the company rating of Regional Container Lines PLC (RCL) at “A-” and has also affirmed the rating of RCL’s senior debentures (RCL096A) at “BBB+”. The outlook remains “stable”. The ratings reflect RCL’s strong market position among regional feeders, which is the result of its fleet size, frequency of service, and the young age of its ships.
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As problems in the housing and subprime markets have spread, investor risk appetite has shrunk. In the U.S. credit markets, investors are shunning deals with innovation and added risk. To counteract growing investor reluctance during the first half of August, central banks around the world pumped liquidity into the financial markets.
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PMI OPENS…

WALNUT CREEK, California: The PMI Group, Inc. announced that

URGENT MEETING…

BLY SPEAKS…

KILIMANJARO ATTEMPT…

CHECKMYFILE LAUNCHES…

EURAND PRESENTS…

FANNIE MAE…

AVASTIN APPROVED…

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The Stock Exchange of Thailand (SET) has approved new listings on the Bond Electronic Exchange (BEX) worth THB 40 billion (about USD 1.16 billion) from the Bank of Thailand (BOT). These issues will commence trading on August 28, 2007.

1. BOT50/86/7D, worth THB 10 billion with a 7-day maturity and falling due on September 4, 2007, will use “CB07904B” as its trading symbol.

Standard & Poor’s Ratings Services said that its ratings and outlook on Bank of China Ltd. (Bank of China; BBB+/Positive/A-2) were not affected by the bank’s disclosure of its exposure to U.S. subprime mortgage-backed instruments. Standard & Poor’s does not expect potential losses to materially erode the bank’s capital base, given the bank’s adequate profitability and capitalization.

On Aug.
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The SFC has banned Ms Hung Sum Yee from re-entering the industry for five months from 22 August 2007 to 21 January 2008 (Note 1).

The disciplinary action follows an investigation by the Hong Kong Monetary Authority (HKMA) into Hung’s alleged acceptance and mishandling of investment order forms and time deposit forms that were signed by clients but were otherwise left blank.
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Moody’s Investors Service said that it has assigned Aaa.za long-term and P-1.za short-term national scale ratings (NSR) to ABN AMRO Bank N.V., South Africa Branch. These ratings are derived from ABN AMRO’s Aa2 global scale ratings, that extend to its South African branch, and are mapped to the South African national scale.
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Fitch Ratings has affirmed the ratings of Bank of China (BOC) and Industrial & Commercial Bank of China (ICBC), following the release of their interim results and the disclosure of their exposure to US subprime mortgage-backed securities. The Long-term Issuer Default ratings (IDR) of both banks remain at their Support Rating Floors of ‘A-’ (A minus) with Positive Outlook, one notch below China’s sovereign rating of ‘A’ with Positive Outlook, reflecting our very high expectations of state support in the event of stress.
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The Stock Exchange of Thailand (SET) cordially invites you to attend presentation sessions of listed companies about their operational performance in Q2/2007. Please find below the presentation schedule during August 27 - 31, which will be the last slot this quarter:

Venue: Room 1101, 11th Floor, SET Building