Briefs

This year’s initial public offerings have an average yield of 41.54 per cent (offer to date), the highest return in Asia-Pacific and fourth in the world, the Stock Exchange of Thailand reported on Wednesday.
The IPO returns are compiled from 10 newly listed companies, consisting of three firms listed on the SET and seven on the Market for Alternative Investment as of December 21. – The Nation

PTTEP’s Burma deal
PTT Exploration and Production Plc, the country’s biggest publicly traded oil-and-gas exploration firm, will sign an agreement with Burma’s government on January 3 on production from its M3 petroleum project in the country, Energy Minister Pichai Naripthaphan said on Wednesday.
The company will sign another agreement in February to explore two onshore petroleum fields, block PHCQ and block PE2, in Burma, he said.
The ministry will also accelerate the construction of natural gas pipelines to Thailand’s North and Northeast, he told reporters. – Bloomberg

Kyocera buys Optrex
Kyocera Corporation has recently completed a share transfer agreement with three investment funds operated by Japan Industrial Partners Inc to acquire all shares of Optrex Corporation. Optrex is a specialised manufacturer of liquid crystal displays (LCDs) and related products with a plant in Thailand.
The move was aimed at further strengthening and expanding Kyocera’s LCD and touchscreen panel businesses. – The Nation

Clarification sought
The Bank of Thailand will ask the government to clarify its proposal to transfer public debts left over from the 1997 Asian financial crisis to the central bank.
The issue needs further discussion and the central bank is ready to explain its position on the matter should the government request it, Governor Prasarn Trairatvorakul said yesterday.
The central bank had already stated its position to the Finance Ministry once before and still insists that the debts do not belong to the central bank.
The debts were incurred as the result of a Cabinet resolution during the bailout of financial institutions following the 1997 crisis. – The Nation

3G licences closer
Preparations for granting 3G spectrum licences took a step forward yesterday when the National Broadcasting and Telecommunications Commission approved the draft of the 2012-16 telecom master plan, NBTC spokeswoman Supinya Klangnarong said. – The Nation