Thailand Financial News

Standard & Poor’s Ratings Services believes that, despite the recent change in Japan’s prime minister to Mr. Yasuo Fukuda, Japan still faces considerable policy risks.

A report published today, entitled “Political Gridlock Could Cloud Japan’s Rating Prospects”, notes that the ratings on Japan are currently constrained by a high public sector debt burden, ongoing fiscal deficits, and anemic economic growth that is overly reliant on business investment and exports.

EXIM Thailand realigns its branch strategy to expand the service coverage in Bangkok and nearby areas by relocating its Sathorn Branch operations to Seri Thai. >From October 1, 2007, Seri Thai Branch will provide services to customers in Khannayao, Khlongsamwa, Bueng Kum, Min Buri, Saimai, and Nong Chok districts in Bangkok and also in Chachoengsao province.

Dr.
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The Stock Exchange of Thailand (SET)’s Board of Governors today resolved to issue a special listing requirement to enable eligible firms to list on the Exchange by end-2008.

These companies must demonstrate their intention to list by 2008, and have a financial advisor endorse their qualifications and that they have undertaken due diligence, SET Executive Vice President and Board Secretary Mr.
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Thai Nondestructive Testing PCL (TNDT) will list on the Market for Alternative Investment (mai) on September 28, 2007, after raising THB 62 million in capital. The funds are to used to procure equipment and tools and expand their upcountry branches. This will be the first mai-listed company from SME Venture Capital Fund.

The firm will use the trading symbol TNDT, mai President Mr.
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As part of promoting the bond market, The Stock Exchange of Thailand (SET) has waived listing and trading fees for bonds for another year - until the end of 2008.

These include the application, entrance and annual fees for listing and the trading fee of 0.005%, SET Executive Vice President and Board Secretary Mr.
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Market Trend: Hold bet on the rising trend to test key barrier at 850-860

Yesterday, Thai shares surprisingly staged a stronger-than-expected rally, up more than 9 points as end-of-quarter window-dressing helped support the market though foreign investors turned net sellers of shares worth more than Bt600m.
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Credit Suisse is pleased to announce that George Pavey will join the Investment Banking Department as a Managing Director and Head of European Real Estate ECM and Co-Head of EMEA Emerging Markets ECM. Mr Pavey will be based in London and will join on October 1.
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Maybank customers who transfer a minimum of S$10,000 from their credit cards can enjoy 0% p.a. interest for up to 12 months, and 12% p.a. interest thereafter for subsequent rollovers. This promotional rollover interest rate is the lowest in the market, where the prevailing interest rate is 24% p.a.

Maybank credit card customers can choose to transfer funds at 0% p.a.
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The Joint Forum’s parent organisations, the Basel Committee on Banking Supervision (BCBS), the International Organization of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS), have announced the appointment of Mr John C Dugan as Chairman of the Joint Forum.
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Fitch Ratings has affirmed Singapore-based Oversea-Chinese Banking Corporation’s (OCBC) ratings at Long-term foreign currency Issuer Default Rating (IDR) ‘AA-’ (AA minus), Short-term foreign currency IDR ‘F1+’, Individual rating ‘B’, Support ‘2′, Support Rating Floor ‘BBB+’ and subordinated Tier-2 and preference shares ratings at ‘A+’, following a review of the bank.
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