Briefs

Thailand’s corruption situation is getting worse after people grew concerned about the government’s investment projects, while bribery accounts for 1-15 per cent of a project’s value, creating losses of Bt59 billion-Bt170 billion for the country, according to the University of the Thai Chamber of Commerce.
A survey during the first half of this year by the university and the Anti-Corruption Organisation of Thailand showed that the country’s corruption situation index (CSI) dropped from 55 points in December to 53 last month.
A score higher than 50 is considered negative, with the country seen as more corruption-free the closer the index gets to 100.
Saowanee Thairungroj, president of the university, said yesterday that worries over higher corruption could affect a loss to gross domestic product by 0.42-1.27 percentage points.
The results were derived from 2,400 respondents including members of the public, the private sector and government officials.
Despite the lower CSI, Thailand’s corruption perception index has improved from 85th to 76th among 177 countries.
Thailand’s score was 38, the highest since the survey has been conducted. Among Asian countries, Thailand’s ranking rose from 12th to 10th.

THAI UNION COMPLETES
BOND BOOK-BUILDING
Thai Union Group Plc, a seafood supplier, has successfully completed book-building for its new debentures.
The 3-, 5- and 7-year debentures total Bt10 billion, making it the company’s largest debenture issue.
The coupon rates are 2.03 per cent for the 3-year debentures, 2.32 per cent for the 5-year debentures and 2.79 per cent for the 7-year debentures.
The debentures were assigned “AA-” by Tris Rating, a local credit rating agency.
 
DTAC NET FALLS 90%
IN SECOND QUARTER

Total Access Communication (DTAC) reported a sharp drop in net profit in the second quarter to Bt141 million, declining 90 per cent year on year.
The slump was attributed mainly to higher depreciation and amortisation as a result of capital expenditure to expand its network, lower earnings before interest, tax, depreciation and amortisation (EBITDA), and a one-time restructuring cost of Bt394 million.
It has adjusted its 2016 guidance for service revenues, excluding network interconnection fees, to a slight decline from last year to reflect the first half-results and the expected market situation in the second half.

POWER SOLUTION
PLANS Bt2 BN ISSUES
The board of directors of Power Solution Technologies Plc, a power-supply solution and renewable-energy company, on Monday approved the plan to issue short-term debentures and bills of exchange worth over Bt2 billion combined as a private placement and/or to institutional and general investors.
The proceeds will help fund PSTC’s alternative energy-driven electricity generation plant projects.