TRIS gives 'BBB+' rating to PHSC
TRIS Rating has given the Police General Hospital Saving and Credit Cooperative (PHSC) a rating of "BBB+" with a "stable" outlook.
PHSC is a financial service provider for people who work at the Police General Hospital (PGH) and related entities. The rating is supported by PGH’s strong credit profile as a government entity, with good quality outstanding loans and a management team that is able to deliver a satisfactory performance, which enables PHSC to pay the maximum dividend allowed by law. The legal privileges extended to the savings cooperatives also secure loan quality and enhance PHSC’s competitive edge.
S&P confirms Malaysia ratings
Standard & Poor’s Ratings Services has confirmed its “A-/A-2” foreign currency and “A/A-1” local currency sovereign credit rating for Malaysia.
The long-term outlook on the rating remains stable. Standard & Poor’s also affirmed its Asean scale rating on Malaysia at “axAAA/axA-1+”.
Malaysia’s sovereign credit rating reflects its strong external liquidity position, open and competitive middle-income economy as well as high savings rate. The country’s foreign reserves rose to US$133.6 billion (Bt4.2 trillion) at the end of December 2011 (versus $106.5 billion the year before), sufficient to finance 5.1 months of current account payments.
However, the country’s moderately weak fiscal and government debt profile for the rating category constrains the sovereign rating. Standard & Poor’s expects the growth in general government debt in 2012 to remain unchanged from 2011’s at 5.6 per cent.
Tisco launches |Bt1-bn fund
Tisco Asset Management is introducing its Bt1-billion “Tisco Special Bonus Fund 3” of which 70 per cent will be invested in debentures and deposits both locally and overseas, while the remainder will be spent on equity.
The company is aiming for a 5.5 per cent net profit in the first year.
The initial public offering of the fund will run from today to August 14 starting at Bt20,000. – The Nation
