Thailand Financial News

Fitch Ratings has assigned a final rating of ‘A-(idn)’ (A minus(ind)) to PT Bank Syariah Muamalat Indonesia Tbk’s (Muamalat) IDR314 billion, 10-year subordinated mudaraba bond, callable at the end of the fifth year. The rating action follows the completion of the subordinated bond issuance and receipt of documents conforming to the information previously received.
(more…)

Moody’s Investors Service has announced that, subsequent to the termination on 1 July 2008 of the USD1.0 billion Euro commercial paper and Euro-denominated certificate of deposit programme of Commercial Bank of Kuwait’s (CBK), the rating agency has, at the request of the bank, withdrawn the Prime-1 short-term senior unsecured debt rating assigned to the programme as it is no longer required.
(more…)

TRIS Rating Co., Ltd. has upgraded the company rating of TMB Bank PLC (TMB) to “A+” from “A” and the rating of TMB’s subordinated debentures (TMB153A) to “A” from “A-” with “stable” outlook. The ratings reflect the potential benefits arising from the bank’s strategic partnership with ING Bank N.V (ING Bank).
(more…)

Unfavorable market conditions lead investors very close to ‘pessimistic’ stance

Key Highlights of the Quarterly ING Investor Dashboard Survey

Press enquiries
(more…)

HSBC Global Asset Management has announced the appointment of Patrice Conxicoeur as Director and Head of Institutional Business, Asia-Pacific effective 1 August 2008.

In his new position, Mr Conxicoeur will oversee the asset management firm’s sales and client management of the institutional business in Asia.
(more…)

National Australia Bank has announced a change of 0.15% per annum to its standard variable home loan interest rate, to 9.61% per annum. The new rate takes effect from 15 July 2008.

National Australia Bank CEO, Ahmed Fahour, said changes to home loan interest rates across the banking sector reflected the sustained increases to long-term wholesale funding costs all banks had been experiencing.
(more…)

Moody’s Investors Service said that, having considered the pros and cons, it sees no grounds for changing the ratings of Bank of Kuwait and Middle East (”BKME”) solely as a result of the bank’s planned conversion from a conventional to an Islamic bank.
(more…)

Fitch Ratings has placed Shinsei Bank, Ltd’s (Shinsei) Long-term foreign and local currency ‘BBB+’ Issuer Default Ratings (IDRs) on Rating Watch Negative. The agency has affirmed Shinsei’s other ratings at Short-term foreign and local currency IDRs at ‘F2′, Individual ‘C’, Support ‘3′, and Support Rating Floor ‘BB+’.
(more…)

Moody’s Investors Service has placed on review for possible downgrade the C- bank financial strength rating, Baa2 baseline credit assessment (BCA), and A2/P-1 long-term and short-term senior unsecured debt and deposit ratings of Shinsei Bank, Limited (Shinsei Bank).
(more…)

MBMG Group, the specialist provider of financial planning, investment, and legal advice to foreign individuals and businesses in Asia, has now set up a separate law office in central Bangkok – MBMG Law Office – in response to growing client demand for legal and advisory services.
(more…)