Briefs

The Stock Exchange of Thailand Index declined 1.47 per cent to 1,375.17 yesterday after extending its winning streak to three weeks.
Turnover was Bt62.4 billion.
Tisco Securities said the SET had gained 4.7 per cent in the past five trading days and 9.3 per cent in the past three weeks, buoyed by anticipation of a delayed rate hike in the US and further relaxation in the eurozone as well as a recovery in oil prices.
Foreign funds are returning to emerging markets in search of better returns.
In the first week of this month, foreign buys of Thai shares amounted to a net Bt14.2 billion. As of March 7, year-to-date net buys totalled Bt6.7 billion.

BEM LIKELY TO WIN
Bangkok Expressway and Metro (BEM) is tipped to win Bt4.39 billion in compensation from the Expressway Authority of Thailand.
The company informed the stock exchange that it had three years to force Exat to comply with the arbitration panel’s decision reached on February 12.
The agency had 90 days to seek a court order to nullify the panel’s decision.
Under the Transport Ministry’s announcement of August 29, 2003, BEM was barred from raising tolls as allowed in its concession. The award covers Bt3.78 billion in lost revenue since April 2008 plus statutory interest.

TENDER OFFER
India-based Aditya Birla Group's subsidiary SKI Carbon Black (Mauritius) is launching the mandatory tender offer for all shares in Thai Carbon Black.
It would tender for 213.76 million shares or 71.25 per cent of Thai Carbon Black's issued shares. At the price of Bt22 apiece, the deal will cost Bt4.7 billion.
The tender offer was filed to the Securities and Exchange Commission yesterday.
SKI recently boosted its stake in the Thai company to 28.75 per cent, which automatically forces it to launch the mandatory tender offer.