Thailand Financial News

The Stock Exchange of Thailand (SET) found that AIRA Securities PCL (AIRA) gave credit to one of its marketing officers who normally receive remuneration under incentive schemes for customers whose accounts the officer did not service. “This payment resulted in the officer receiving compensation which violated Exchange regulations. (more…)

Standard & Poor’s Ratings Services assigned its ‘AA-’ rating to Utah County, Utah’s $6 million series 2010A excise tax revenue bonds, $15.4 million series 2010B taxable excise tax revenue bonds (Build America Bonds, or BABs), and $19.6 million series 2010C taxable excise tax revenue bonds (Recovery Zone Bonds). (more…)

Upgrades have outpaced downgrades 36 to 33 for U.S. nonfinancial industries since the end of October, said an article published today by Standard & Poor’s, titled “U.S. Nonfinancial Industries Credit Quality Review: December 2009 (Premium).”

“Negative bias, which is the proportion of entities with a negative outlook or ratings on CreditWatch negative, has declined for nine consecutive months, and it hit 26.6% on Dec. (more…)

Standard & Poor’s investment-grade and speculative-grade composite spreads tightened marginally yesterday to 196 basis points (bps) and 610 bps, respectively. By rating, the ‘AA’ spread tightened 2 bps to 133 bps; ‘A’ and ‘BBB’ tightened one basis point each to 171 bps and 249 bps, respectively; ‘BB’ and ‘B’ tightened 4 bps each to 446 bps and 607 bps, respectively; and ‘CCC’ remained unchanged at 987 bps.

By industry, financial institutions, industrials, and telecommunications tightened by the largest margin of 2 bps each to 349 bps, 316 bps, and 295 bps, respectively. (more…)

Microsoft’s popular iCafe program is giving Thai internet caf? owners affordable access to genuine Microsoft software including Windows 7; customers gain access to a safer learning environment with the latest IT tools available. BANGKOK - 28 December 2009 – Following a successful pilot project and positive feedback from iCaf? owners across the country, 2009 saw Microsoft (Thailand) Limited extend its popular iCaf? project to a third phase, with further collaboration planned for 2010. (more…)

Welcome the New Year with our special “The January Sale: 50% off every weekend in 2010”. Simply book between 29th December 2009 and 31st January 2010 to enjoy up to 50% off our Best Available Rate. That’s half the price every weekend, all year long in 2010! You’ll need to make your reservations now before the season ends on this amazing promotion!

Terms & Conditions:

- Enjoy 50% off Best Available hotel rates for all room types

- Bookings must be made between 29 December 2009 and 31 Jan 2010.

- Valid for all weekends (Friday to Sunday) in 2010

- Rates are subject to 10% service charge and 7% applicable government tax

- Full pre-payment by credit card is required upon making reservation

- Deposit is non-refundable for cancellation, amendment or early departure

- Rates and reservations are subject to space availability at time of booking

Reservations can be made through: reservations@conradbangkok.com or www.ConradBangkok.com/Specials , Tel : +66 2690 9999 (more…)

Moody’s Investors Service says in a new report that the outlook on the Hong Kong banking sector is to remain negative. Despite the fact that Hong Kong’s banks have weathered the latest financial crisis without too much damage while the economy is gradually recovering, a change in the outlook to stable would be premature, says the report.

“Hong Kong banks could still be vulnerable to further volatility in the global economy and their reputation for sound management has been damaged by the Lehman Brothers’ mini-bond fiasco. (more…)

The number of global issuers poised for downgrades continued its decline this month to 824 issuers from 869 issuers last month, according to an article published December 24, 2009 by Standard & Poor’s. The article, which is titled “Downgrade Potential Across Credit Grades And Sectors (Premium),” says that this is the lowest tally in the last 14 months. (more…)

Standard & Poor’s Ratings Services raised its rating and underlying rating (SPUR) to ‘A’ from ‘A-’ on Benton County Fire Protection District No. 1, Wash.’s unlimited- and limited-tax general obligation (GO) bonds.

“The raised rating reflects the district’s maintenance of what we consider to be a consistently very strong financial position,” said Standard & Poor’s credit analyst Jessica Schultz.

The bonds are a full faith and credit obligation of the district and are secured by an unlimited ad valorem tax pledge. (more…)

Standard & Poor’s Ratings Services raised its rating to ‘A’ from ‘A-’ on Northern California Power Agency’s (NCPA) Hydroelectric Project No. 1 revenue bonds. The rating applies to NCPA’s $458.4 million in debt secured by hydroelectric revenues.

“The ‘A’ rating on the hydroelectric project revenue bonds reflects our view of the contractual 25% step-up provision, which we believe could support 100% of project operating and debt service costs from participants that are rated ‘A’ or better,” as well as our view of the competitive economics of the project,” said Standard & Poor’s credit analyst Ian Carroll.

The hydroelectric project consists of three diversion dams, the 243-megawatt (MW) Collierville Powerhouse, the New Spicer Meadow Dam and an associated 5.5 MW powerhouse, as well as tunnels and transmission facilities.

The stable outlook on the rating on the hydroelectric project revenue bonds reflects the outlooks on the ratings on the relevant rated participants in each project, each of which is stable. (more…)