Thailand Financial News

TMB Bank Public Company Limited announced today the successful completion of its THB 37.60 billion capital raising exercise.

Following the completion of the capital raising, the Ministry of Finance’s holding in TMB shall be 26.1%, ING Bank N.V. (Netherlands) 25.2%, and DBS Bank 6.8%.
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PTT Aromatics and Refining PCL (PTTAR) will commence trading on The Stock Exchange of Thailand (SET) in the Energy and Utilities sector from January 2, 2008 with almost THB 30 billion (approx. USD 887.57 million) registered capital. The company is poised to become a market leader in the refinery and aromatics industries.

The firm’s securities will use “PTTAR” as their trading symbol.
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In 2008, Thailand Securities Depository Co., Ltd. (TSD) will become increasingly involved in supporting Thai children, as part of the Thai capital market’s corporate responsibility to give back to society. Together with The Stock Exchange of Thailand’s (SET) Corporate Social Responsibility Institute (CSRI), the depository will continue to organize activities for underprivileged children and support charitable groups, TSD Chief Executive Officer Ms.
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The SET reviews lists of constituent stocks of SET50 and SET100 for H1/2008 effective on 2 January 2008 onwards

Referring to the amalgamation of two listed companies which are the Rayong Refinery Public Company Limited (RRC) and the Aromatics (Thailand) Public Company Limited (ATC) which will be resulted in the new listed company (PTTAR), presently, RRC and ATC has fulfilled the required amalgamation procedures and the Board of Governors of the SET has approved the delisting of RRC and ATC and the listing of PTTAR on 27 December 2007 (effective in the trading system on 28 December 2007 onwards).

Yesterday (27 December 2007) at 13.30 hrs., at the Makawan Rangsan Room, Army Club, ACM Chalit Pukbhasuk, Chairman of the Board of Directors, Thai Airways International Public Company Limited, presided over the company’s Annual General Shareholders’ Meeting 2007, with the attendance of THAI’s Board of Directors, Management, and shareholders, whereby the following issues were discussed:

1.
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Moody’s Investors Service assigned first time ratings of Aa3 for long-term deposits and B for financial strength to both Goldman Sachs Bank (Europe) plc (GSBE) and Goldman Sachs Private Bank Ltd (GSPB). The rating outlook for both banks is stable.

GSBE and GSPB, located and licensed in Ireland, are wholly owned banking subsidiaries of the Goldman Sachs Group Inc.
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National Scale Rating upgraded to A1.ua and positive outlook assigned to long-term foreign currency deposit rating of B2

Moody’s Investors Service has today upgraded the long-term national scale rating (NSR) of Bank Finance and Credit to A1.ua from A2.ua.
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TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced today that Guangdong Provincial Rural Credit Cooperative Union (GDRCC), a Chinese government owned commercial bank, has selected TCS B?NCS Core Banking solution.

GDRCC selected TCS B?NCS Core Banking solution due to its highly scalable architecture, proven ability in the Chinese banking sector, complete coverage of the bank’s lines-of-business and ability to lower the total cost of ownership.
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Moody’s America Latina Ltda. assigned a Aaa.br National Scale debt rating to BFB Leasing’s eighth issuance of subordinated, non-convertible debentures to be issued under its first debentures program for a total of R$10 billion. The debentures have a 20 year tenor.

On the Global Scale, Moody’s Investors Service assigned an A2 global local currency debt rating to BFB Leasing’s R$10 billion subordinated debentures issuance.
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Moody’s Investors Service has assigned the following global scale ratings to KIT Finance Investment Bank (”KIT”): B2 long-term and Not-Prime short-term foreign currency and local currency deposit ratings and an E+ bank financial strength rating (”BFSR”).
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