Briefs

FOREIGNERS STILL IN HUNT FOR MALAYSIAN STOCKS
Foreign net buying on the Malaysian stock exchange continued for the 11th consecutive week, the longest since a 24-week streak that ended in May 2013, the month of the country’s last general election, according to MIDF Research. 
However, the research house said the inflows might not tapering. It said foreign purchase of equity listed in the open market (excluding off-market deals) amounted to a net 283 million ringgit (Bt2.2 billion), compared with 239 million ringgit the week before.
“Most foreign buying occurred on Friday, when the amount reached 144.9 million ringgit net. The influx of foreign buying coincided with the KLCI reaching a 22-month high as sentiment was boosted by a possible tax reform by [US President Donald] Trump, to be announced today,” MIDF said in its weekly fund-flow report. 
Foreign participation on Bursa Malaysia bounced last week but it remained at a moderate level last week. Foreign average daily trade value was up by 16 per cent to 860.4 million ringgit. – The Star

CHINA TELECOM READIES $1 BN OUTLAY
China Telecommunications Corp plans to invest more than US$1 billion over the next three to five years to expand its presence in economies along the Belt and Road Initiative.
Deng Xiaofeng, CEO of its international unit China Telecom Global Ltd, said on Monday that it would also raise more money from state-owned financing institutions and private investors, in a move to build land cables, Internet data centres and other infrastructure in Southeast Asia, Europe and other regions.
“State-owned and private capital are now keen to be part of our efforts. We also need their expertise to help us evaluate whether the plans are plausible,” Deng added.
He said the company did not exclude the possibility of investing in foreign telecom carriers to help other developing countries accelerate the development of 4G. But Deng did not disclose more details.
As of 2016, China Telecom had more than 4,700 overseas employees, with branches and offices in 30 countries and regions, most of which are along the Belt and Road. It has built 13 Internet data centres in six of them. – China Daily 

Big C to borrow up to Bt11 bn from BJC for refinancing
Big C Supercenter’s board of directors has approved entering a loan agreement with Berli Jucker and/or a company in the BJC Group for a total amount not exceeding Bt11 billion. 
Big C plans to use the funds for repayment of existing debt to financial institutions. The BJC loan’s repayment period is to be no longer than two years, with the interest rate no greater than what would be charged for the same amount borrowed directly from a financial institution. 

NBTC signs integrity pact 
The National Broadcasting and Telecommunications Commission yesterday signed an integrity pact with the Anti-Corruption Organisation of Thailand as part of its efforts to ensure the transparency of its project to install broadband and cellular services in remote areas of the country.
The pact also covers any state or private entity that bids to implement the project. Under the pact, the procurement process and the project’s development will be observed by a third party in an effort to ensure transparency.

Ticon agrees dividend payment
A Ticon Industrial Connection shareholders’ meeting adjourned with the approval of a dividend payment of Bt0.08 per share, representing a pay-out ratio of 53.35 per cent of its 2016 net profit of Bt278.10 million. 
Book closure to determine the list of shareholders entitled to the dividend will be on May 5. The dividend will be paid on May 19, said the company’s chief executive officer, Virapan Pulges.
Regarding the group’s business direction for 2017, the company says it is cautiously optimistic that the Thai economy will continue to improve. As well, the acquisition of a stake in the company by Frasers Property Holdings (Thailand) Co in January should enhance Ticon’s business expansion by enabling the group to grow its industrial-property business both in Thailand and around the Asean region.

Prima Marine applies for IPO
Bunker-oil trading firm Prima Marine has filed to the Securities and Exchange Commission its application to launch an initial public offering of at least 625 million ordinary shares in the Stock Exchange of Thailand.
It is expected to make a debut in the SET before the end of this year.
The company has appointed Kasikorn Securities and Siam Commercial Bank as financial advisers for the listing plan.