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Siam City Bank plans capital raising by mid-2009

By admin ⋅ October 20, 2008 ⋅ Post a comment

Siam City Bank (SCIB) is planning to raise capital by the middle of 2009 to support an expansion of its lending, Chief Executive Officer Chaiwat Utaiwan said on Monday.
He said the bank is expected to select a financial advisor by the end of the year and new fund injection would come by the middle of [...]

TMB swung to profit

By admin ⋅ October 19, 2008 ⋅ One comment

TMB Bank reported a nine-month profit of 4.41 billion baht, a big upswing from a net loss of 20.68 billion baht in the same period a year earlier.
TMB third-quarter profit totaled to 1.66 billion baht, helped by higher interest earnings and lower provision expenses.
“The net interest income and dividends rose 1.8 per cent to 12.3 [...]

BoT revises down next year’s export growth

By admin ⋅ October 19, 2008 ⋅ One comment

Export growth, a major driving force in the Thailand’s economy for decades, may slow to only 7.0 per cent in the next year, hurt by lingering political tension and global economic regression, the Bank of Thailand warned.
“This worst-case projection is based on an assumption that Thailand’s several trading partners had slipped into a recession,” the [...]

Kapook.com plans listing on MAI

By admin ⋅ October 16, 2008 ⋅ One comment

Thai-language internet portal Kapook.com will file for a listing of its common shares with the Market for Alternative Investment (MAI) in 2009 to raise 20 million baht in capital.
The company will become Thailand’s second internet venture company to list in the stock exchange.
Kapook reported total earnings of 34 million baht in 2007 from three core [...]

Thai economic growth predicted slow to 4% next year

By admin ⋅ October 16, 2008 ⋅ Post a comment

Thailand’s economic growth will slow to 4 per cent next year, hurt by a deteriorating global economic outlooks and ongoing political tension, a research says.
A fresh study released on Tuesday indicates that recovery will be limited at private consumption due to continuing political strife and decline in direct investment fund flow.
A report said the country’s [...]

Thai Oil to buy Shell units for $120 million

By admin ⋅ October 13, 2008 ⋅ 5 comments

Thailand’s top refiner Thai Oil Plc (TOP) will acquire 80.52 per cent stake in its units owned by Royal Dutch Shell for $120 million in parts of its drive to enter the solvents business, the company said on Monday.
Tai Oil said it has signed an agreement to buy a controlling 80.25 per cent stake in [...]

CIMB likey to drop Bank Thai takeover bid

By admin ⋅ October 12, 2008 ⋅ Post a comment

Malaysia’s CIMB Group is likely to withdrawn from its bid to acquire a 42.13 per cent stake in Bank Thai due to global financial crisis, continue falling in the share price, and unsettle dispute with TPG Newbridge, according to an official involved in the Finance Ministry.
A news source said the ministry’s approval for CIMB Group [...]