Thailand Financial News

SUS Corp., the parent company of SUS (Thailand) Co., LTD., which designs, develops, manufactures and markets Factory Automation (FA) aluminum equipment parts and machinery, is seeing completion of the construction of its FA parts production plant in Lamphun.
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Channel: The History Channel on TrueVisions UBC (A23) and (D44)

Telecast date: Sunday, December 2, 2007

Take a tour of the cosmic hot zones–black holes, galaxy mergers, gamma ray bursts and magnetars. Super massive black holes can literally “lasso” the Earth out of the solar system.
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In November, the U.S. distress ratio recorded its largest monthly increase in five years, rising to 4.9% from 2.3% a month ago and 2.1% 12 months ago, according to an article published today by Standard & Poor’s. The report, titled “U.S. Distressed Debt Monitor: Biggest Increase In Distressed Ratio In Five Years (Premium)” says that the increase in distress accompanies considerable widening in nondistressed speculative-grade bond spreads, which rose to 502 bps on Nov.
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HSBC Bank (China) Company Limited has opened a branch in Dongguan, Guangdong Province, reinforcing its presence in the fast-growing Peal River Delta region in Southern China. With the new branch, HSBC has expanded its network to 53 service outlets across the country, including 16 branches and 37 sub-branches, the widest geographical reach of any foreign bank in mainland China.

Richard Yorke, President and Chief Executive Officer of HSBC Bank (China) Company Limited, said: “The Pearl River Delta region is a key focus for HSBC’s China plans and offers us great potential for growth.
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Standard & Poor’s Ratings Services said today that it had affirmed its ‘BBB-’ long-term and ‘A-3′ short-term foreign currency counterparty credit ratings on CITIC Group (CITIC). The outlook is positive. Concurrently, Standard & Poor’s affirmed its ‘BBB-’ foreign currency issue rating on CITIC’s ?10 billion bond due 2016.

At the same time, Standard & Poor’s affirmed its ‘BBB-’ long-term and ‘A-3′ short-term counterparty credit ratings on CITIC International Financial Holdings Ltd.
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China Finance Online Co., Limited, a leading Chinese online financial information, data, and analytics provider, announced that on November 23rd, 2007, it successfully completed the acquisition of 85% equity interest of Daily Growth Investment Company Limited, a licensed securities brokerage firm incorporated in Hong Kong with a history of over 35 years.

Under the definitive agreement, previously announced On September 14th, 2007, China Finance Online agreed to acquire 85% equity interest of Daily Growth Investment Company Limited for approximately $3 million and has the right to acquire the remaining 15% of equity of Daily Growth Investment within 5 years from the completion date.
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Significant advances in technology are enabling people to move beyond cash and even cheques as a mode of payment. The Reserve Bank of India is encouraging transactions based on electronic medium. These modes of payments not only make the transfers more secure, but also significantly faster.
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Moody’s said that Wells Fargo’s planned $1.4 billion fourth-quarter provision related to its home-equity portfolio is manageable when compared to Wells Fargo’s large earnings base and high capital ratios. Wells Fargo & Company senior rating is Aa1, and the lead bank, Wells Fargo Bank NA, has a financial rating of A (the highest on a separate scale of A to E) and it is rated Aaa for deposits.
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Century Bank, Parma, Ohio, announced that it has entered into a definitive agreement to merge with Liberty Bank, N.A., Beachwood, Ohio. In conjunction with the merger, the Board of Directors of Century Bank has adopted a plan of conversion to convert from the mutual to stock form of organization.

Century Commercial Bancorp, Inc.
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TRIS Rating Co., Ltd. has affirmed the company rating of TSFC Securities Ltd. (TSFC) at “A”. At the same time, TRIS Rating has cancelled the rating of TSFC’s up to Bt1,000 million subordinated debentures upon the request of TSFC since the company does not have a plan to issue debentures.
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