Briefs

The Securities and Exchange Commission says its settlement committee fined Anothai Phornprapha, Prapol Phornprapha and Prin Phornprapha, as principals, along with two aiders and abettors, namely Amornrat Kongsitthanakorn and Rachada Srivirojnawong for using inside information to purchase SP Suzuki (SPSU) shares for their own and other persons’ benefits.
The fines totalled Bt12,831,738.66.
After a referral from the Stock Exchange of Thailand, the SEC probe found that between April 8 and June 15, 2010, Anothai, Prapol and Prin had purchased SPSU shares through the securities-trading accounts of Amornrat and Rachada. The purchases were made in a way that took advantage of others by using non-public information on SPSU share prices.
As Anothai was one of the sellers comprising SPSU, SP International Co (SPI) and some member of the Phornprapha family, they learned of a draft memorandum of understanding whereby Suzuki Motor Corporation planned to purchase from the said sellers the shares of Thai Suzuki Motor Co. The MoU prescribed a condition that the sellers must proceed either to close down the business or delist SPSU shares from the SET. Later, SPI launched a tender offer to purchase SPSU shares at a price higher than the market price during that period.
The said actions were in violation of Section 241 of the Securities and Exchange Act BE 2535 (1992). As they agreed to enter the settlement procedure, the settlement committee fined Anothai Bt2,580,211.77, Prapol Bt2,948,813.46 and Prin Bt6,636,046.77. Amornrat and Rachada were fined Bt333,333.33 each.

GOOD BOND RESPONSE
Investors have responded favourably to Bank for Agriculture and Agricultural Cooperatives (BAAC) bonds issued by the Finance Ministry to cover debts accumulated under the last elected government’s rice-pledging programme, according to the ministry.
Finance deputy permanent secretary and chief of its Expense and Debt Group, Pongpanu Svetarundra, said the total value of the bonds issued in the first stage was an all-time high for state-enterprise bonds at Bt50 billion.
The bonds’ principal and interest will be guaranteed by the ministry throughout their tenor.
The BAAC bonds on offer include the 20th 2013 BAAC bonds (Reopen No 2) with remaining maturity of three years and 10 months with a return of 2.75 per cent per annum, worth Bt42 billion, and the first 2014 BAAC bonds with a maturity of seven years and a return of 3.01 per cent per annum, worth Bt8 billion.
A book-building survey shows that investors are very interested in the two versions of BAAC bonds worth altogether Bt50 billion, especially non-bank investors such as asset-management firms.
The bond dealers for this BAAC bond offer are Krungthai Bank, CIMB Thai Bank, Standard Chartered (Thai) Bank, and HSBC (Thailand).

NEW MCOT BOSS
MCOT has appointed Sivaporn Chomsuwan as its new director-general, replacing Anake Permvonseni, who resigned previously from the post of president for personal reasons. The company reported the appointment to the Stock Exchange of Thailand yesterday.
Before joining the state media enterprise, Sivaporn was president of Nation International Edutainment.

DEVELOPERS THRIVE
The top 15 listed property firms will post total revenue of up to Bt260 billion next year, up 23 per cent from the Bt210 billion estimated for this year, said Terdsak Thaweethiratham, senior vice president of Asia Plus Securities.
The house based this prediction on a strong backlog worth a total of Bt262 billion as of September 30 and new residential projects planned for next year, which will focus on detached houses and townhouses, he said.