Thailand Financial News

Bangkok Bank has introduced a new loan for SMEs in the automotive parts industry offering up to 100 percent of the purchase price of new machinery. The Bualuang SMEs-Machine Loan for the Automotive Parts Industry carries an interest rate of MLR for a term of up to five years.
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TISCO Securities Co.,ltd. recently held the “1st Vietnam Corporate Day in Thailand”, the one on one meeting between leading firms from Vietnam and Thai institutional investors at TISCO Tower, North Sathorn Road. TISCO’s corporate customers who are seeking business opportunity to invest in Vietnam could attend in this event and meet with Vietnam’s executives directly.

Thoresen Thai Agencies (”TTA”) has reaffirmed its established positions in its niche dry bulk shipping and offshore services businesses by two recent recognitions: A significant Fitch Ratings upgrade from BBB+ (tha) to A- (tha); and Thailand’s best-managed company 2007 award by the region’s most prestigious financial magazine.

The Fitch Ratings upgrade was given based on a significant improvement in the recovery prospects of TTA’s unsecured creditors - following the issuance of its USD 170 million unsecured convertible debentures to refinance its secured vessel loans.
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The Stock Exchange of Thailand (SET)’s realistic online stock simulation game, SET Click2WIN, was a first for Thailand in 2007 and involved 17,209 players. Because the game gave people confidence in investing, it contributed to 1,500 new trading accounts being opened shortly thereafter.
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Ratchaburi Electricity Generating Holding PCL. announced the Company’s consolidated operating performance ended December 31, 2007. The net profit was 5,829.40 million baht or earning per share of 4.02 baht, a decrease of 4.53 percent or 0.19 baht per share from the operating result of 2006.

Mr.
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Euroclear Bank is to significantly improve its operational service levels for clients located in the Asia-Pacific region. The service improvements, centred in Euroclear Bank’s Hong Kong office, will also benefit clients around the world that settle and hold Asia-Pacific securities at Euroclear Bank.
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ABN AMRO has announced the launch of Hong Kong’s first ever Zero Strike Participation Certificates – an innovative financial instrument that gives retail investors easy and cost-efficient access to alternative markets and asset classes.

Termed Zero Strike Participation Certificates or Zero Certs, the certificates are similar to index warrants but with an exercise price of near to zero.
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Moody’s stated that the appointment of Mark R. Fetting as the new President and CEO of Legg Mason, Inc. (senior unsecured debt at A2) is a good development for the firm. Moody’s Vice President/Senior Credit Officer Matthew Noll commented, “Mark Fetting has been a distinguished voice of the firm for many years.
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Fitch Ratings has upgraded the Issuer Default (IDR) and Support ratings on Nikko Cordial Corporation (NCC) and Nikko Cordial Securities Inc. (Nikko Cordial Securities). At the same time, the agency has affirmed NCC’s and Nikko Cordial Securities’ Individual Ratings.
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Surecomp, a leading provider of global trade finance solutions for the financial services community, today announced that it has entered into a marketing agreement with Kuala Lumpur headquartered TESS International Group of Companies (TESS). Under the agreement, TESS will represent Surecomp’s range of trade finance products to its present and future customers, allowing them access to the world-leading customer front-end and bank back office trade finance solutions.
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