BAY rises on eve of tender offer from BTMU

Aiming to take a majority stake in the Thai commercial bank, BTMU announced in July that it had struck a deal to purchase the 25-per-cent stake in BAY owned by GE Capital. The voluntary tender offer will end on December 13.

In a statement, the Japanese bank said that if it can take a majority stake in the Thai bank through the tender offer, BAY will become a subsidiary of BTMU. BTMU will also integrate its Bangkok Branch with the Thai bank within one year. 

 

HANOI GEARS FOR AD CONGRESS

Hanoi will play host to one of the biggest events in advertising and marketing, the Asian Advertising Congress (AdAsia), between November 11 and 14 at the National Convention Centre. This year’s AdAsia will mark the 28th congress, with the theme “Re-engineer Advertising”. It will be the first time the event has been held in Vietnam.

“This is an honour for Vietnam to host such an event. Nearly 400 international guests have registered to attend the congress, with around 200 from Taiwan, 70 from India and the rest from all over the world,” Dinh Quang Ngu, president of the Vietnam Advertising Association (VAA), said at a press conference on Tuesday.

According to Tran Hung, general director of Vietnam AdAsia Event Joint Stock Company and deputy head of the organising board, advertising has seen strong growth in Vietnam in recent years, worth an estimated US$1 billion (Bt31 billion) annually. – Viet Nam News/ANN 

 

TFEX TO REVAMP TRADING SYSTEM

The Thai Futures Exchange will change its trading system in mid-2014 and improve its products to respond more to demand. 

Kessara Manchusri, managing director of the exchange, said that product quality would be enhanced to attract more investment. No new products are being planned.

A new trading system will be developed by a Swedish company and a Korean company.

She noted that the system change has nothing to do with the market close yesterday morning. 

Yesterday, the morning session was closed due to trading-system problems. Trading resumed in the afternoon, after the problem was solved and brokers were able to reconnect with the exchange.

 

COFFEE BEANERY EYES US, UK, RUSSIA

Coffee Beanery, the producer and distributor of Zolito-branded coffee and tea products, plans to export the newly launched three-in-one tea product to the US, the UK and Russia next year. The next export markets are Cambodia, Myanmar and other Asean countries. This is an attempt to boost tea-based revenue from 5 per cent of total revenue to 10-15 per cent next year, said the company’s managing director Akkaphan Leevutinun.