Fitch Thailand Affirms Primus Leasing’s Guaranteed Issues
Fitch Ratings-Bangkok/Hong Kong/Singapore-21 December 2007: Fitch Ratings (Thailand) has today affirmed the National rating of Primus Leasing Company Limited’s (Primus) guaranteed notes issued under its medium-term note programmes at ‘BB+(tha)’. The Outlook remains Negative.
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IFA recommended the shareholders of MPT to accept the tender offer due to the reasonable offer price and the delisting of the company’s securities as planned by the tender offeror.
Mr. Surat Taesriprasert, VP – Head of Capital Market (Thailand) , DBS Vicker Securities (Thailand) Company Limited as the Independent Financial Advisor of Magnecomp Precision Technology Public Company Limited (“MPT”) has reported to the Stock Exchange of Thailand (“SET”) that the IFA has provided their opinion on the tender offer of MPT shares undertaken by TDK Corporations (“TDK”) that the offer price of Bt.
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Fitch Special Report Examines Thai Residential Mortgage Market
Fitch Ratings (Thailand) Limited has released a special report titled, ‘Thai Residential Mortgage Market’. The report provides an overview of the Thai residential mortgage market in terms of products, loan growth, interest rates charged, mortgage enforcement procedures; also included is a summary of Government Housing Bank’s (GHB) operation and loan portfolio.
After taking a severe hit during the financial crisis in 1997, the Thai mortgage market started to recover in 2000.
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Bank of Ireland Global Markets purchases Algorithmics’ market risk solution
Algorithmics has today announced that Bank of Ireland’s Global Markets division has purchased Algo Market Analytics, which covers more than 20 global markets and over 400 financial products, spanning fixed income, foreign exchange, equity, credit, energy, commodity and derivatives instruments.
Catherine Keane, Head of Credit and Market Risk at Bank of Ireland Global Markets said, ‘We plan to roll this system out to the middle office as soon as possible.
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TRIS Rating Affirms “BBB+/Stable” Company Ratings for Two Motorcycle Hire Purchasers, “TK” and “Hi-Way”
TRIS Rating Co., Ltd. has affirmed the company ratings of Thitikorn PLC (TK) and Hi-Way Co., Ltd. (Hi-Way) at “BBB+” with “stable” outlooks. The rating of TK reflects its market-leading position in the motorcycle hire purchase business, experienced management team, extensive branch network, high profitability and solid capitalization.
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AsiaNet Daily Summary, Press Releases for Thursday, December 20, 2007
MIDOMI.COM EXPANDS… SUNNYVALE, California: Melodis Corp., a leader in search and sound recognition technologies, today announced the availability of Midomi.com in German, Korean, Portuguese and Polish. This latest advancement allows people to find, share, and record versions of music in these languages just in time for the holidays.
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EXIM Thailand Backs Thai-Lao Partnership in Sustainable Hydropower Development
EXIM Thailand is fully prepared to provide loans and equity financing to support Thai investments in hydropower development projects in Lao PDR to promote clean energy utilization and sustainable economic advancement for both Thailand and Lao PDR.
Dr.
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Fitch: Sponsors Step Into the SIV Market
Fitch believes that the actions announced by bank sponsors to support their affiliated SIVs are, in several cases, positive for investors in senior SIV liabilities. In a report released today, Fitch summarises recent actions announced by SIV sponsors, most recently Citibank on 13 December 2007, and their impact on the risk profile of the Fitch-rated vehicles.
The report, entitled “Structured Investment Vehicles (SIVs) Rating Performance Update - Issue 4″, shows the most relevant asset and liability parameters for the Fitch-rated SIVs: The average portfolio market value of Fitch-rated SIVs has slightly decreased since October 2007, primarily due asset price declines in sectors such as HELOC, monolines and other financial institutions.
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Euroclear Bank manages settlement of JPMorgan’s Belgian primary dealership business
Euroclear Bank announces that JPMorgan is the first primary dealer to transfer the settlement of its Belgian primary dealership business to Euroclear Bank. The market for Belgian government debt outstanding is valued at EUR 252 billion.
Euroclear Bank’s comprehensive settlement solution, tailored to primary dealer needs, offers customised services ranging from securities issuance to transaction settlement.
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Fitch Upgrades Individual Rating of Industrial Bank and Affirms Ratings of Bank of China
Fitch Ratings today upgraded the Individual rating of Industrial Bank Co., Ltd (IB) to ‘D’ from ‘D/E’, and also affirmed the ratings of Bank of China (BOC). The ratings of both banks are now as follows:
IB: Individual ‘D’ and Support ‘3′. while loan loss reserve coverage reached a noteworthy 104% of 5-tier NPLs in 1H07.
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