CREDIT SUISSE FORMS TEAM IN THAILAND
Credit Suisse said yesterday that it had set up a wealth management team in Thailand to tap rising demand from high-net-worth individuals, as part of its expansion in Asia.
Credit Suisse, which has operated a full-service securities house in Thailand for 16 years, said in a statement that Thailand has a sizeable HNW wealth pool compared to other major regional economies such as South Korea or Singapore.
The bank is targeting two key client segments – HNW individuals with assets of more than US$2 million (Bt71 million), and ultra-HNW individuals with asset of $50 million, or $250 million in net wealth, it said.
Most of them are first- or second-generation entrepreneurs with family-owned businesses, who are increasingly keen to diversify their wealth through global investments, the statement said. - Reuters
MONO PAYS UP
Mono Broadcast, the operator of the Mono 29 digital television channel, yesterday handed the third instalment of the upfront license fee, totalling Bt440.84 million inclusive of the value-added tax, to the broadcasting regulator, according to the company’s management.
Mono 29, which is ranked third in the TV broadcasting industry, became the second digital TV licensee to show its responsibility in this matter after Bangkok Broadcasting and Television.
Correction
A report in yesterday’s The Nation showed a main graphic displayed along with a news report headlined “Fall in ads hits media, entertainment firms” that misspelled the abbreviation of Nation Multimedia Group. It should have read NMG. We regret and apologise for this mistake.
Builder Smart sees growth
Builder Smart Plc aims to boost revenue to Bt700 million this year from Bt563.14 million last year on good demand and continuing growth of its current business.
The contractor is ready to proceed with the over Bt500 million residential project for retired-aged consumers, which should push revenue to Bt800 million-Bt900 million next year.
Sanchai Nueangsit, managing director of BSM, said yesterday that the company’s three core products were the “Alloy” brand aluminium interior decorative system, ceiling and gypsum walls and door/window systems.
BSM expects higher net profit of Bt2.35 million on revenue of Bt132.19 million in the second quarter of this year compared to the first quarter of this year.
BSM is working on the Bt500 million Sansara residential project located on Black Mountain in Prachuap Khiri Khan’s Hua Hin district.
This project is the first of its kind to focus on the needs of senior citizens.
Revenue from this project should start flowing in next year.
