Briefs

To make listed companies’ disclosure of information through electronic media more efficient, the Stock Exchange of Thailand will on Monday introduce the Straight-Through system. The procedure increases the speed of information dissemination and ensures equal access to investment information, according to the bourse’s management.
The Straight-Through system will also reduce back-office resource requirements and cut down manual processing errors so that investors are able to get information directly and quickly. This is a standard enhancement to bring information disclosure in line with leading Asian stock exchanges, said Supakit Jirapraditkul, the SET’s group head of operations.
“The SET has developed its information-disclosure system continuously since 2010 by implementing Web-based forms and setting a template for information dissemination, which has helped facilitate listed companies, enabling them to transmit information quickly and easily,” Supakit said.
“This year, we are introducing a Straight-Through system, in which investors will receive information as it is distributed by listed companies, quicker and subject to fewer procedures,” he said.

BAY eyes higher net
Bank of Ayudhya should see a 2-per-cent increase in net profit this year after the acquisition of HSBC’s retail banking business, according to research by DBS Vickers Securities (Thailand).
Meanwhile, Standard & Poor’s Ratings Services announced that it would introduce no change to Bank of Ayudhya’s rating though the acquisition would increase the size of the bank's assets.
The bank has signed an agreement to acquire HSBC Thailand's retail banking business, including credit cards, personal loans, mortgages and deposits. The acquisition, subject to conditions, represents an investment of Bt3.6 billion and is expected to be completed within the current quarter.

Reinsurer’s losses
Global reinsurer RenaissanceRe Holdings yesterday announced its initial estimated net negative impact from the flooding in Thailand, which resulted in widespread damage to property and the country’s manufacturing infrastructure.
 The company currently expects that losses from the flooding will have a net negative impact of about US$45 million (Bt1.4 billion) on its fourth-quarter 2011 results. |– The Nation