Briefs
Play
Mutual Fund Fair
The Stock Exchange of Thailand attracted more than 3,500 investors to “Mutual Fund Fair 2014”, generating 1,053 transactions worth Bt57.75 million during the event last Friday and Saturday. Long-term equity funds (LTFs) and mutual equity funds were among the best sellers.
Noppakao Sucharitakul, the SET’s senior vice president and head of the Customer and Channel Group, said the fair, co-hosted by the Association of Investment Management Companies and 15 asset-management firms, promoted mutual-fund investment under the concept “Simple Start, Easy Trade”.
LH Bank rating affirmed
TRIS Rating has affirmed the company rating of Land and Houses Bank, a wholly owned subsidiary of LH Financial Group (LHFG), at “A-” with “stable” outlook.
The rating reflects LH Bank’s continual improvements in its business and financial profiles after upgrading its status to become a universal bank. The rating takes into consideration the increased broadening and diversification of the bank’s loan portfolio, the good quality of that portfolio, its strong base of capital funds, and the business and financial support it gets from LHFG’s major shareholders.
NLA unanimously backs regional institute
The National Legislative Assembly yesterday unanimously approved support for the establishment of the Economic Research Institute for Asean plus China, Japan and South Korea.
The institute will monitor, evaluate and assess regional economic and financial risks, maintain economic and financial stability and report the findings to Asean countries, as well as provide financial assistance when necessary.
The top three contributors to the institute’s fund and their voting rights are China (32 per cent, 71.6 voting rights), Japan (32 per cent, 80 votes), and South Korea (16 per cent, 41.6 voting rights). Thailand contributed 4 per cent and has 12.3 voting rights.
The Finance Ministry will be responsible for the budget and related expenses. .
Budget bill chopped
An ad hoc committee vetting the government’s 2015 budget bill yesterday excised Bt16 billion before forwarding to the National Legislative Assembly ‘s second and third readings on September 17.
The 2015 budget had been set at Bt2.575 trillion.
Chart-Udom Tithasiri, spokesman of the committee, said cuts had been spread among all ministries, with Transport seeing the biggest slash.
The Bt46-billion central budget has been trimmed the most. The Bt5-billion bonus for civil servants was moved to the central budget.
The Public Sector Development Commission has been assigned to review the principles of the annual bonus payment, which will be forwarded to the government for consideration again.
Break for rubber farmers
The Bank for Agriculture and Agricultural Cooperatives (BAAC) has extended the deadlines for rubber farmers’ debt repayments on concerns over their falling income amid plummeting rubber prices.
Somsak Kangteerawat, a senior executive vice president, said yesterday that the bank had asked its branches to find debt-relief measures for rubber farmers, including a reduction in instalments and an extension of repayment periods by up to 15 years.
About 360,000 rubber farmers have borrowed Bt40 billion from the BAAC. That is 5 per cent of the bank’s loan portfolio. Most of them are long-term loans.
