Briefs
SEC plans approval system for technical analysts in capital market
The Securities and Exchange Commission is planning to introduce an approval regime for technical analysts with a view to elevating standards and quality and providing opportunities for newcomers.
The approval term will last two years, requiring analysts to pass certain examinations recognised by the SEC and have work experience in preparing research. Also, they must not possess any characteristics prohibited of capital-market personnel.
A consultation paper is available on the SEC website, www.sec.or.th. Stakeholders and interested members of the public are welcome to submit comments through the website, facsimile number 02-263-6332 or e-mail [email protected] until Thursday.
Ananda to issue debentures worth up to Bt3 billion
Ananda Development will issue 5.2-per-cent debentures worth up to Bt3 billion for business expansion, revolving funds, and unpaid project loans. Subscriptions will be open from June 27 to July 3 for institutional and/or major investors.
Fitch upgrades PTTGC after strong cash flow generation
Fitch Ratings (Thailand) has upgraded PTT Global Chemical’s rating and its senior unsecured debentures to national long-term “AA(tha)” from “AA-(tha)”. The outlook is stable.
Its national short-term rating has been affirmed at “F1+(tha)”.
The upgrade results from Fitch’s decision to upgrade the standalone credit profile of PTTGC to “AA-(tha)” from “A+(tha)” previously.
This follows the company’s stronger-than-expected generation of operating cash flow, strong forecast credit metrics and Fitch’s view that the company can maintain a financial profile appropriate for its elevated rating level despite potential for higher capital expenditure.
Kiatnakin founder dies at 105
Kiat Wattanavekin, founder of the Kiatnakin Group, died yesterday at the age of 105.
The Chinese immigrant built up his fortune and won recognition as a leading overseas-Chinese businessman in Thailand. His family started in the liquor and construction businesses before diversifying into sugar milling and finance about 50 years ago. Parts of his family business are Erawan Group, Eastern Sugar and Kiatnakin Bank.
He is survived by 18 children. The 14-day funeral rite begins today at Wat Debsirin.
Luxury cars go on block July 17
Union Auction will begin selling repossessed luxury cars on July 17, expecting thousands of such vehicles to go on the block eventually.
Ek-pittyaa Eamkong-ek, president of the company, said it had received overwhelming interest after it was appointed the official auctioneer for the Customs Department. He said 300 cars would be put up for auction on July 17. Pre-registration is open at the department and the company. All participants are required to put up a down payment of Bt50,000.
The Department of Special Investigation estimates the number of repossessed vehicles at nearly 10,000.
Brazil urges more Asia trade
Brazil called for increased trade between East Asia and Latin America, as officials and ministers from the two regions met on Thursday on Bali.
“We can achieve more if relations are improved,” said Maria Edileuza Fontenele Reis, an official of Brazil’s Foreign Ministry, at the start of the “Forum for East Asia-Latin America Cooperation”.
The Bali meeting was attended by more than 300 delegates, including 15 ministers, from 36 countries. Fontenele Reis said China was Brazil’s biggest trading partner, while Indonesia was increasingly an important investment destination for Brazilian businesses. – DPA
Port division
The Port Authority of Thailand plans to separate the import and export sections of Bangkok Port to reduce congestion. The exact plan will be ready by September, said managing director Songtham Chantaprasit.
The volume of shipments through the port averages 120,000 twenty-foot-equivalent units per month. Songtham expects that this year the port will handle about 1.4 million TEU, up from 1.2 million last year. But the volume cannot exceed this amount, which is maximum capacity.
High 3G fees tackled
The National Broadcasting and Telecommunications Commission will meet with Advanced Wireless Network (AWN) and Real Future, both providers of 2.1-gigahertz wireless broadband service, to urge them to reduce the service fees in their new call packages, in line with the NBTC’s benchmark rates.
The NBTC found that AWN’s voice call rates met the benchmark but not its SME and Internet connection fee, while both voice and non-voice service fees of Real Future have yet to meet the benchmark.
NBTC secretary-general Takorn Tantasit said he would call in both operators for discussion on the matter on Monday.
Both operators kicked off third-generation 2.1GHz service last month, while another 2.1GHz licence holder, DTAC TriNet, has yet to start offering the 3G service.
The NBTC telecom committee approved in principle in March that the base rates for 3G-2.1GHz voice and data service must be 15 per cent lower than 92 and 35 satang per minute respectively.
AWN is a subsidiary of Advanced Info Service, and Real Future is part of True Corp.
