Thailand Financial News

TANDBERG(R) (OSLO: TAA.OL), a leading global provider of telepresence, high-definition (HD) video conferencing and mobile video solutions, today unveiled the new immersive TANDBERG Telepresence T3 system, a new telepresence server and a new package of TANDBERG-certified services that complete the telepresence experience.
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The SET Foundation, a subsidiary of The Stock Exchange of Thailand (SET), has presented the 2008 Prateep Ungsongtham Hata Award to Mr. Sangval Boonsong for his outstanding contribution to urban development. Mr. Sangval has spent over 25 years working with people in the slums of Bangkok and elsewhere in Thailand, helping them solve social problems and improving their quality of life and savings management.

“The SET Foundation’s Honoring Great Social Contributors program offers moral support to those who have dedicated themselves to society and encourages the public to do more to benefit the nation,” SET Foundation Chairman Pakorn Malakul Na Ayudhya said.

Travelling on the BTS is now easier than ever with a new top-up service launched by Bangkok Bank in conjunction with BTS. The new service allows cardholders of a Be1st-BTS card, Blue Wave credit card and BTS SmartPass card to add credit to their card for SkyTrain travel using a Bangkok Bank ATM at any BTS station.
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Fitch Ratings has today published a special report answering frequently asked questions on Asian RMBS in response to investors’ enquiries.

As Asian RMBS develops, Fitch has seen an increasing acceptance of Asian RMBS by domestic and international investors in the past five years.
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Export-Import Bank of Thailand (EXIM Thailand) appointed Mr. Suthanai Prasertsan, Senior Vice President of Information Technology Department and Acting First Vice President of Office of Risk Management, as Executive Vice President overseeing EXIM Thailand’s Information Technology system and risk management in accordance with the Bank of Thailand (BOT) guidelines and Basel II framework.
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The largest ever in Asia’s furniture industry, the 15 billion baht - worth contract will boost S.P.S. Group’s production and logistics capacity as part of IKEA’s global alliance strategy in Asia. S.P.S. Group, one of Thailand’s largest furniture manufacturing companies, has made another major milestone for Thai and Asia’s furniture industry as the company signed a 15 billion baht - worth agreement with the giant Swedish furniture and home product retailer group IKEA to become manufacturing and supply chain management hub for IKEA in Asia, western coast of the U.S.A.
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Mitsubishi UFJ Financial Group, Inc., (President & CEO Nobuo Kuroyanagi, “MUFG”) and Morgan Stanley (Chairman and CEO John J. Mack) announced that they have completed a final agreement to enter into a strategic capital alliance, subject to the approval of the relevant authorities.
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Wachovia Corporation to become a focused leader in retail brokerage and asset management.

Wachovia has announced intentions to sell its retail bank, corporate and investment bank and wealth management businesses to Citigroup. Wachovia Corporation will remain a public company with two main operating subsidiaries: Wachovia Securities, the nation’s third largest brokerage firm, and Evergreen Asset Management, a leading provider of asset management services.
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Moody’s placed Wachovia Corporation’s senior and subordinated debt ratings (senior at A1) and the deposit and debt ratings of Wachovia banks and thrifts (deposits at Aa2) under review direction uncertain. Moody’s lowered Wachovia’s preferred stock rating to Ba3 from A3 and placed it under review with direction uncertain.
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Wachovia Corp. announced that it intends to sell its retail bank, corporate and investment bank, and wealth-management businesses to Citigroup Inc. The new Wachovia Corp. will remain a public company with two main operating subsidiaries: Wachovia Securities, the nation’s third-largest brokerage firm, and Evergreen Asset Management, a leading provider of asset-management services.

As a result of this transaction, Standard & Poor’s Ratings Services said today that it placed all its ratings on Wachovia Corp.
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