Thailand Financial News

Fitch Ratings has today affirmed Krung Thai Bank Public Company Limited’s (KTB) ratings, as follows:

Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook, Short-term foreign currency IDR at ‘F2′, Individual ‘C/D’, Support ‘2′, foreign currency subordinated debt rating ‘BBB’, foreign currency offshore hybrid Tier 1 securities ‘BBB-’ (BBB minus), National Long-term ‘AA+(tha)’ with Stable Outlook, National Short-term at ‘F1+(tha)’, National subordinated debt rating ‘AA(tha)’ and National rating on domestic hybrid Tier 1 securities at ‘A+(tha)’.

Fitch Ratings (Thailand) has today affirmed Kim Eng Securities (Thailand) Public Company Limited’s (Kim Eng) National Long-term rating at ‘A(tha)’ with Stable Outlook and its National Short-term at ‘F1(tha)’.

Kim Eng’s ratings reflect its strong local retail franchise, which benefits from support of its strong foreign parent (Kim Eng Holdings Limited of Singapore), as well as its solid capital and liquidity positions.
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Fitch Ratings (Thailand) has today affirmed Asia Plus Securities Public Company Limited’s (ASP) National Long-term rating at ‘A-(tha)’ (A minus(tha)) with Stable Outlook and its National Short-term at ‘F2(tha)’.

ASP’s ratings reflect its strong position in the domestic retail brokerage and investment banking space, as well as its solid capital and liquidity positions.
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Fitch Ratings (Thailand) has today revised the Outlook on Finansa Public Company Limited’s (FNS) National Long-term rating to Stable from Negative, affirmed it at ‘BBB(tha)’, as well as the National Short-term rating at ‘F3(tha)’.

Fitch’s Outlook revision and rating affirmation follows the release of FNS’ H108 results and the disposal of its subsidiary’s investment in synthetic collateralised debt obligations (CDOs) of about THB880m in May 2008.
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J.P.Morgan Asia Pacific today announced the appointment of Kalpana Morparia as Chief Executive Officer of the firm’s Indian operations.Ms Morparia joins J.P.Morgan from the senior management of the ICICI Group,India’s largest private sector financial services company.

Ms Morparia is vice chairman of the ICICI Group’s insurance,asset management and securities companies, and Chief Strategy and Communications Officer.
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The housing slump, the consumer slowdown, higher oil prices, and negative credit market fundamentals have combined to erode credit quality across U.S. financial and nonfinancial corporations, said an article published today by Standard & Poor’s. The article, which is titled “U.S.
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Consolidated H108 revenues Bt 1,173 million and net profit of Bt 2 million. Unrecognized sales reach Bt 9,395 million at mid-year.

BANGKOK; August 28, 2008 – Raimon Land1 submitted its second quarter 2008 financial results to the Stock Exchange of Thailand on 14th August 2008.
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The Management of Prantalay Marketing Company Limited, led by Chief Executive Officer - Thongchai Tavanapong (center), Chief Financial Officer - Nittaya Tavanapong (2nd right), and Chief Marketing Officer and Chief Operation Officer - Anurat Khokasai (2nd left), recently launched the company’s latest brand, ‘Click by Prantalay’, under the concept of ‘Enhance Your Quick Meal to Perfection’.
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J.P.Morgan Asia Pacific has announced the appointment of Kalpana Morparia as Chief Executive Officer of the firm’s Indian operations. Ms Morparia joins J.P.Morgan from the senior management of the ICICI Group, India’s largest private sector financial services company.

Ms Morparia is vice chairman of the ICICI Group’s insurance, asset management and securities companies, and Chief Strategy and Communications Officer.
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VP Bank Group’s results for the first half of 2008 were marked by the challenging circumstances of the global financial markets as well as by the sizeable investments the Group has made in market cultivation and information technology.

Compared to the first half of 2007, economic conditions in the banking business have changed significantly.
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