Quick News

With online trading growing fast, the Department of Business Development will add the names of e-commerce companies in its DBD application so that consumers can recheck before doing business or buying goods from online firms.

Pongpun Gearaviriyapun, director-general at the department, said the move is to protect consumers from unscrupulous traders.

The department will also facilitate general people to check the accounts balance of each firm through the application so that consumers can trade with them with confidence.

So far, about 13,900 online traders have got the DBD Registered certificate, which will ensure that consumers can trade with those firms with knowledge of company location and background. Most companies are involved in costumes and ornament trading, computer and Internet, and medical and healthcare. – The Nation

 

BAM unsecured notes |get an ‘AA-’ rating

Fitch Ratings (Thailand) has assigned Bangkok Commercial Asset Management Co Ltd’s (BAM; AA-(tha)/Negative) issuance of baht senior unsecured notes a rating of ‘AA-(tha)’. The notes will have maturities of two and/or three years. 

The notes are rated at the same level as BAM’s National Long-Term Rating, as they represent unsubordinated and unsecured obligations of the company. 

BAM’s National Ratings are based on sovereign support considerations, due to its status as a state enterprise (100-per-cent owned by a unit of the central bank), as well as its important role in the financial system as the largest player in Thailand’s impaired asset management sector. 

The negative outlook is driven by Fitch’s view that the state may have a reduced propensity to extend extraordinary support to BAM over the medium term, as it is unclear whether the central bank views BAM as a core strategic shareholding. – The Nation

 

Q3 FDI in Malaysia an improvement over Q2

Foreign direct investments (FDI) in Malaysia improved to 500.2 billion ringgit (Bt4.1 trillion) in the third quarter of 2015 from 477.4 billion registered in the second quarter of this year. The manufacturing sector continued to be the highest direct investment recipient at 43.4 per cent, followed by financial and insurance (20.9 per cent) information and communication (9.4 per cent).

The top three source countries for FDI were Singapore, Japan and Netherlands, the Department of Statistics said in a statement. The value of Malaysian-owned assets abroad continued to exceed the value of foreign-owned assets in Malaysia. The total financial asset position rose 183.2 billion ringgit to a record 1.71 trillion ringgit from 1.53 trillion ringgit in the second quarter. – The Star/ANN