Thailand Financial News

Moody’s Investors Service has changed its outlook on Mongolia’s B1 government bond ratings as well as on its Ba2 and B2 foreign currency bond and bank deposit ceilings to stable from negative.

“The rating action was supported by the government’s policy tightening which has contributed to a shoring-up of the country’s balance of payments, the containment of its burgeoning fiscal deficit, and the elimination of nearly runaway inflation,” says Tom Byrne, a Moody’s Senior Vice President.

These policy actions were essential to bringing stability to an economy that has undergone a boom-bust cycle, and which is characterized by weak fundamentals and insufficient institutional strengths.

“Moreover, the parliament’s ratification of the strategic investment pact in October between the government and foreign investors in the Oyu Tolgoi copper mining project and the likely development of other strategic mining projects will bring very sizable fiscal benefits and lead to a surge in foreign exchange earnings. (more…)

Mr. Pakorn Partanapat Executive Vice President, KASIKORNBANK and Mr. Koji Umemoto, Vice President, Thai Marsol Co.,Ltd joining signed the MOU agreement offering financial support worth THB 113.52 million to boost the production and the export business of Waterproof Coated Paper. (more…)

To be armed for business expansion in renewable energy and foreign investment

Ratchaburi Electricity Generating Holding PCL. announces its 9-month operating performance of 2009. The Company recorded net profit at 5,556.60 million Baht or 3.83 Baht per share, which is an increase of 10.14% from the same period of last year. (more…)

eBay Inc. (Nasdaq:EBAY) today reported financial results for the third quarter ended September 30, 2009. The e-commerce company posted third-quarter revenue of $2.2 billion, up $120.3 million from the same period last year. The year-over-year revenue growth was driven primarily by the continued growth in PayPal, Skype, the company’s classifieds business as well as growth in eBay’s fixed-price format. (more…)

Fitch Ratings has today assigned CIMB Thai Bank Public Company Limited (CIMBT) the following ratings: National Long-term ‘A+(tha)’ with Stable Outlook, National Short-term ‘F1(tha)’, Long-term foreign currency Issuer Default Rating (IDR) of ‘BBB-’ with a Stable Outlook, Short-term foreign currency IDR ‘F3’, Individual ‘D’ and upgraded the Support rating to ‘2’ from ‘3’. (more…)

Ratchaburi Electricity Generating Holding PCL. cordially invites members of the press to attend a press conference on:

“The Operating Performance of Q3/2009”

Presented By

Mr.Thawat WimonsarawongSenior Executive Vice President – Business Development, Ratchaburi Electricity Generating Holding PCL.

Ms. (more…)

Thailand to benefit from GDP gains of US$ 2.3 billion and 80,000 jobs annually The GSMA, the body that represents the worldwide mobile communications industry, welcomed and supported the Thai Government initiative to license the 2100MHz spectrum band for 3G Mobile Broadband. (more…)

Both Standard & Poor’s investment-grade and speculative-grade composite spreads widened on Tuesday, to 224 basis points (bps) and 688 bps, respectively. By rating, the ‘AA’, ‘A’, and ‘BBB’ spreads widened one basis point to 150 bps, 189 bps, and 281 bps, respectively. (more…)

Standard & Poor’s Ratings Services today affirmed its ‘A/A-1′ foreign currency and ‘A-1′ local currency ratings on Korea Development Bank (KDB), as well as its ratings on KDB’s senior unsecured debts, commercial paper programs, and certificate of deposit programs. (more…)

FRIENDSTER SHOP… MOUNTAIN VIEW, California - Friendster, Inc., a top global web site based on traffic, today announced the launch of virtual gifts and the Friendster Gift Shop, which is the first in a series of forthcoming products utilizing the new Friendster Wallet, enabling over 115 million Friendster users to buy and send gifts to one another. (more…)