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SET revamping property sector groupings in January
The Stock Exchange of Thailand will launch a new sector, Construction Services, and will also include real-estate investment trusts (REITs) in the Property Fund sector – to be renamed Property Funds & REIT – enabling investors to analyse and compare information on each company more accurately.
SET executive vice president Kesara Manchusree yesterday said the exchange would move 18 companies from the Property Development sector into the Construction Services sector in order to reflect overview of the business group more clearly.
The Construction Services sector will comprise companies engaged in constructing residences or other buildings, industrial estates, shopping centres, roads and bridges. It will include interior services, as well as companies providing services for construction projects, including engineering, design and advisory firms.
The change will take place on January 2, when the renamed Property Fund & REIT sector will also kick off.
BNP Paribas appointment
BNP Paribas has announced the appointment of Pierre Veyres as chief executive officer of BNP Paribas Singapore and regional head for Southeast Asia, effective this month. He takes over the roles from Jean-Pierre Bernard, who will retire after a long and successful career with BNP Paribas.
PTT issue rated ‘AAA(tha)’’
Fitch Ratings (Thailand) has assigned PTT’s upcoming Bt20-billion senior unsecured debentures, due to mature in 2020, a national long-term rating of “AAA(tha)”.
The notes are rated at the same level as PTT’s national long-term rating as they constitute direct, unsecured, unconditional and unsubordinated obligations of the company, Fitch said. The proceeds from the debenture will be used to refinance debt and fund future capital expenditure.
