Late news :BAY board to discuss GE deal
The Bank of Ayudhya (BAY) yesterday announced its board would convene on Monday to consider details of its tie-up with GE Capital International Holdings Corp.
In the statement to the Stock Exchange of Thailand, it said the ministry had recently given approval for the buyer to hold more than 5 per cent of BAY, but no more than 25.4 per cent once all the bank's warrants are exercised by September 2008. The board will also consider the sale of new BAY shares to GE at more than 10 per cent below the market price and will discuss the waiver of a tender offer to purchase all securities of the bank.
TMB sold out TMB Bank announced that its 3.22 billion capital-increase shares had sold out yesterday, the last day of its subscription period.
Reserves rise Thailand's foreign reserves registered US$59.9 billion (Bt2.25 trillion) as of August 18, up from $59.4 billion the week before, according to the Bank of Thailand. The growing reserves are in line with large inflows of foreign capital, which has strengthened the baht against US dollar.
BoI privileges The Board of Investment yesterday approved investment privileges to Betagro Northern Co Ltd, Siratampitak Co Ltd, Marine Resources Development Co Ltd, Niles (Thailand) Co Ltd, Yanagawa Techno Forge (Thailand) Co Ltd, Xcellent Manufacturing (Thailand) Co Ltd, Greater Pharma Manufacturing Co Ltd and Panasonic Motor (Thailand) Co Ltd. Their total investment is Bt2.3 billion.
Rate prediction Kasikornbank president Prasarn Trairatvorakul said late on Thursday the policy signal rate was expected to stabilise until the end of the year despite an anticipated small increase. He said the 14-day repurchase rate was likely to increase by 25 basis points by year-end. He predicted both the policy rates of the US Federal Reserve and Thailand's 14-day repurchase rate would peak by the end of the year from the current 5.25 per cent and 5 per cent, respectively.
BT's Japan tie-up BankThai (BT) is to announce an alliance with a Japanese financial institution on Monday, a source in the banking community was quoted as saying by Bisnews. The bank earlier said it had planned to issue capital-increase shares to allow the partner to hold a maximum stake of 25 per cent.
|
