Late news :London urges caution on retail
The British Embassy's trade and investment official yesterday urged the government to think carefully before proceeding with measures to control retail business expansion, which affects the British company Tesco among others.
While saying that the government must be fair to all parties, he admitted that the complaints on aggressive expansion by giant retailers were not new. Thai News Agency reported yesterday that a French diplomat in Bangkok said Caretaker Deputy Prime Minister and Commerce Minister Somkid Jatusripitak would discuss investment policy with Carrefour and Casino Group during his visit to France next week. Omnibus station PTT Plc yesterday opened the 11-rai PTT Park on the First Stage Expressway, where all services are provided under the one-stop service concept. Customers can fill up their tanks with NGV (natural gas for vehicles) and other fuels as well as enjoy food and drink, drive-through banking, and a convenience store.
SET wants more The Stock Exchange of Thailand yesterday asked BNT Entertainment for more information on the impairment of its Bt61.39-million investment in Navadis, and on Live Radio Co Ltd's prepaid deposit of about Bt58 million for a radio station. Live Radio is a BNT subsidiary. The SET asked BNT to clarify progress on the collection of debts and to ensure it submits its financial statements at the end of the quarter.
Fitch rates DAD Fitch Ratings (Thailand) Ltd has assigned an expected national rating of "AAA(tha)" to DAD SPV Co Ltd's Series 1 (due 2020) and Series 2 (due 2025) bonds of up to Bt8.2 billion, to be issued this year. Fitch also expects to affirm the "AAA(tha)" ratings of four series of DAD SPV's outstanding bonds totalling Bt10.3 billion, which were issued in 2005. The securitisation programme permits issuance of up to Bt24 billion within three years. The ability to issue additional bonds will largely depend on the domestic interest rates to ensure cash flows are sufficient to meet payments on the outstanding bonds.
BOT takes action The Bank of Thailand has taken action against a number of illegal non-bank companies which have issued credit cards without its authorisation. In June, police moved in on 15 companies - five each in the South, North and Northeast. Deputy governor Tarisa Watanagase said yesterday that non-bank companies could operate only with a central bank licence.
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