Reputation of both agencies tarnished, stock analysts say. The laissez-faire approach of the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) over the past two months in the face of the impending takeover of Shin Corp have benefited the shareholders of Shin and battered the regulatory reputation of the two agencies.

MASS-TRANSIT SYSTEM: TAMC wants to head up BTS debt restructuring

Agency believes it can make better progress if it becomes lead manager. The Thai Asset Management Corp (TAMC) says it wants to play a greater role in restructuring the debts of the Bangkok Mass Transit System (BTS), operator of the Skytrain, and plans to ask local creditors to allow it to become lead debt-restructuring manager.

Foreign minister out to woo companies in UK and Germany

Foreign Minister Kantathi Suphamongkhon will visit the UK and Germany next week and, among other things, will invite leading companies in the two countries to invest in Thailand’s Bt1.7 trillion mega-projects.

TCC keeps to growth prediction

The Thai Chamber of Commerce is sticking with its 2006 economic growth forecast of 4.5 per cent made last year as it sees some adverse trends souring investment appetite.

Oishi to expand restaurants, beverages

The Oishi Group, operator of a Japanese-restaurant chain and manufacturer of green-tea beverages, announced it would spend more than Bt500 million this year to bolster both of those operations.

Rubber growers bouncing back

Rubber growers are expanding plantation areas to take advantage of record high prices, the Agricultural Economics Office said yesterday.

New Hilton to open in March

After 10 years of construction work, a new five-star hotel on the Chao Phraya River, the Millennium Hilton Bangkok, will be ready to open on March 1.

TELECOMS: True denies searching for strategic partner

But analysts see foreign suitors lining up. True Corp Plc president Supachai Chearavanont said yesterday that the company saw no need at present to seek a strategic partner.

LG Mitr sings praises of new karaoke technology

LG Mitr Electronics has announced a 50-per-cent increase in its marketing and advertising budget to Bt80 million as it bids to counter an estimated 5-per-cent drop this year in the local audio-visual market.

Swiss franchisor banks on Bangkok

The Geneva-based owner of Coffee World and other fast-food chains is promoting Bangkok as a centre for business development in order to expand its franchises globally.

M Link Asia Corp drops out of state projects

M Link Asia Corp Plc, co-founded by Prime Minister Thaksin Shinawatra’s younger sisters, will switch its focus from bidding for state projects to its main retail handset business, citing a lack of viability.

SCG’s earnings plummet in Q4

The Siam Cement Group (SCG) yesterday reported a 46-per-cent drop in its net profit for last year’s fourth quarter, because of higher energy costs and a maintenance shutdown of its major petrochemical plant.

Thai-US trade agreement in a state of flux

US Ambassador to Thailand Ralph Boyce has sought assurances from the Thai government that American businesses here would not be affected by the expiration of trade and investment provisions under the Treaty of Amity between the US and Thailand, a source said.

THAI to spin off unprofitable domestic routes to Nok Air

Thai Airways International Plc (THAI) plans to revamp its domestic schedule by shifting unprofitable flights to its sister airline Nok Air.

STREET WISE: iTV director on edge over future

The Temasek Holdings-Shin Corp deal has stirred interest from all parties in Thailand, directly involved or not. It’s thus not surprising that Niwattumrong Boonsongpaisan, director of iTV Plc, was so stirred by the news.

LOCAL BOURSE: Investors go on a buying spree

SET rises 2.24% as foreign funds and expected M&A activity buoy sentiment. The stock market rallied 2.24 per cent yesterday, buoyed by liquidity and driven by anticipation of a wave of mergers and acquisitions.

Up to Bt6 bn expected from ABF fund offer

Kasikorn Asset Management will open an offering of its ABF Thailand Bond Index Fund (ABFTH) between February 15 and 21, which is expected to raise between Bt4 billion and Bt6 billion on the secondary market.

Poor trading debut for G Steel

G Steel Plc, which made this year’s first initial public offering yesterday, posted a disappointing trading debut by dropping 16.88 per cent below its IPO price.

Bangkok Bank bullish on China

A Bangkok Bank executive has forecast that Chinese investors are likely to be granted as much as 20 per cent of the total Bt1.8-trillion contracts for mega-projects from the government.

BIZNEWS ROUND-UP

- TMB Bank chairman Sommai Phasee said DBS Bank was likely to boost its stake in TMB Bank from 16 per cent to 20 per cent, so that the Singaporean bank could consolidate TMB Bank’s balance sheet.

THORESEN THAI AGENCIES: Shipper sets out to diversify risk

Plans move into other shipping services as freight rates fall. Thoresen Thai Agencies (TTA), the local unit of the 102-year-old international shipping company, plans to expand into other shipping-related businesses to diversify risks as a result of falling freight rates that could affect revenue.

IN BRIEF: low-cost homes

Syntec, Mivan sign Bt21-billion contract with housing authority. Syntec Construction Plc and Mivan (Thailand) Ltd have signed a Bt21-billion agreement with the National Housing Authority (NHA) this week to construct Baan Ua Athorn housing projects for low-income residents.

Bangkok housing market ‘to shrink 10% this year’

Supply and demand in the Greater Bangkok property market are expected to drop by about 10 per cent this year due to rising interest rates as well as the increased cost of living, according to research by the Agency for Real Estate Affairs.