Thailand Financial News

JPMorgan announced an agreement with Thailand’s Kasikorn Bank (“KBank”) to enter into joint collaboration to offer trade finance, supply chain management tools and its intention to provide supply chain logistics capabilities to enable clients to expand their business by leveraging KBank and JPMorgan’s network.

JPMorgan’s Supply chain and logistics management tools would enable KBank’s clients to gain greater transparency on their transactions for more effective business decision making as well as cashflow, funding and risk management.
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NAB announced that it expects an after-tax gain of approximately $221m from its shareholding in Visa Inc, following the recent Visa IPO on the New York Stock Exchange.

This comprises amounts of $181m and $40m arising in its Australian and New Zealand businesses respectively.
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Fitch Ratings has affirmed the ratings of Nomura Holdings Inc.(NHI) and Nomura Securities Co., Ltd. (Nomura Securities). The Outlook remains Positive. The affirmed ratings are as follows:

NHI: Long-term foreign and local currency IDRs ‘BBB+’ with Positive Outlook, Short-term foreign and local currency IDRs ‘F2′, Individual rating ‘C’, Support rating ‘5′ and Support Rating Floor ‘NF’.
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TRIS Rating Co., Ltd. has assigned a “T1+” rating to Bt1,000 million short-term guaranteed debentures of Honda Leasing (Thailand) Co., Ltd.’s (HLTC or Issuer). At the same time, TRIS Rating has affirmed the “AAA” ratings for HLTC’s existing medium-term debentures with “stable” outlook.
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Bangkok Bank Senior Vice President Surabhan Purnagupta (left) and executives from the bank’s Merchant Banking Division recently received the Deal of the Year 2007 award from the Thai Bond Market Association for the bank’s outstanding achievement in the distribution of the second tranche of debentures issued by PTT Exploration and Production Public Company Limited (PTTEP) in June 2007.
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Motorola, Inc. (NYSE: MOT) today announced that the Company’s Board of Directors has commenced a process to create two independent, publicly-traded companies. Today’s decision follows the Company’s January 31, 2008 announced evaluation of the structural and strategic realignment of its businesses and represents affirmative steps to position its Mobile Devices and Broadband & Mobility Solutions businesses for success, while creating value for all Motorola shareholders.

“Our decision to separate our Mobile Devices and Broadband & Mobility Solutions businesses follows a review process undertaken by our management team and Board of Directors, together with independent advisors,” said Greg Brown, Motorola’s president and chief executive officer.  “Creating two industry-leading companies will provide improved flexibility, more tailored capital structures, and increased management focus - as well as more targeted investment opportunities for our shareholders.” About Motorola

Motorola is known around the world for innovation in communications.
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Growing network expands to four branches

HSBC, one of the world’s largest banking and financial services organisations, with headquarters in London, will add two HSBC Premier Centres in Yokohama and the Marunouchi area of Tokyo, with the approval of the Financial Services Agency (FSA).
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Also Resolves Litigation With Holders of Enron Credit-Linked Notes

Settlements are Fully Covered by Existing Legal Reserves — www.theasianbanker.com (March 28 2008)–
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Mitsubishi Corporation (MC: Tokyo, Chiyoda Ward; President and CEO, Yorihiko Kojima) and Mitsubishi UFJ Securities Co., Ltd. (MUS: Tokyo, Chiyoda Ward; Chairman and CEO, Yasumasa Gomi), a subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG: Tokyo, Chiyoda Ward; President & CEO, Nobuo Kuroyanagi) have decided to jointly establish a new fund management company, (MC 50%, MUS 50%).
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Moody’s Investors Service has affirmed Malayan Banking Berhad’s (Maybank) deposit and debt ratings, which have maintained stable outlooks. At the same time, the bank’s financial strength rating (BFSR) of C has also been affirmed but its outlook has been changed to negative from stable.

A full list of its ratings is shown below.
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