Thailand Financial News

PLANHQ LAUNCHES… SAN FRANCISCO, California, and WELLINGTON: This Wednesday at the DEMO Fall conference in San Diego, PlanHQ will officially launch its web-based business planning software on stage at 10am PT. http://planhq.com www.demo.com OPENING ANNOUNCED…
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After an overwhelming response from investors, the US$ 169.80 million convertible bond issue was listed on the Singapore Exchange Securities Trading Limited (“Singapore Exchange”) today and will be used to fund a shipping fleet renewal and expansion plan by refinancing its secured long-term debt and strengthen its business potential.

M.L.
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Cisco ensures investment protection and operational simplicity with integrated enterprise wireless solution

Continuing its leadership and innovation in delivering integrated solutions that allow business to take full advantage of mobility applications, Cisco today introduced the industry’s only integrated 802.11n solution designed to combine superior wireless performance and reliability with simplicity of deployment.
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To ease cost calculation, Thailand Securities Depository (TSD)’s Board of Directors has resolved to adjust the repurchase (repo) fee from the current progressive rates to a flat rate of 0.015% per annum. To encourage use of the service, the board announced that TSD members that have applied for and used the service by the end of this year will receive a 25% discount.
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The Stock Exchange of Thailand (SET) and SETTRADE.Com Co., Ltd. (SETTRADE) are co-hosting SET Click2WIN: Thailand Stock Simulation, which has attracted 16,000 applicants, as of September 24, far surpassing the target of 12,000. Promotional campaigns have surged increasing interest in stock trading from people nationwide.
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Fitch Ratings has revised the Outlook on the International and National Long-term ratings of the Bank of Ayudhya Public Company Limited (BAY) to Positive from Stable. This follows the increasing commitment of GE Capital International Holdings Corporation (GECIH) to the bank, as evidenced by BAY’s planned purchase of GECIH’s auto loan business in Thailand, as well as additional capital increases in July and last week resulting in GECIH increasing its stake in BAY to 35% from 29%.
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Market Trend: Sideways trading seen w/ possible S/T rebound; downside seems limited Yesterday, the Thai stock market witnessed a mild correction on profit taking in the energy sector after oil prices steadily dropped off. We still believe that downside seems to be limited, as the positive political mood towards the general election by year-end should help temper market weakness.
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Fitch Ratings (Thailand) has upgraded Thanachart Bank’s (TBANK) National Long-term rating to ‘A(tha)’ from ‘A-(tha)’ (A minus (tha)), Short-term rating to ‘F1(tha)’ from ‘F2(tha)’, as well as upgraded the Individual rating to ‘C/D’ from ‘D’ and Support rating to ‘4′ from ‘5′.
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HSBC Corporate, Investment Banking and Markets (CIBM) has announced the launch of the HSBC Global Climate Change Benchmark Index, together with a family of four investable global climate change sub indices – a comprehensive range of climate change indices.

The HSBC Global Climate Change Benchmark Index, developed by CIBM’s Global Research team, is a global reference index which has been designed to reflect and track the stock market performance of key companies that are best placed to profit from the challenges presented by climate change.
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M&T Bank and First Horizon National Corp. announced that they have entered into a definitive agreement in which M&T Bank will acquire First Horizon’s 13-branch Mid-Atlantic franchise. Ten of the branches are located in the Greater Washington region, and three are in Greater Baltimore.
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