Late news :iTV could face delisting by SET
iTV Plc may have to be delisted, since the revocation of its concession requires the transfer of all of its assets to the PM's Office, and that would cause a sharp drop in the station's finances, the Stock Exchange of Thailand (SET) said yesterday.
Following the revocation, iTV- whose channel has been renamed TITV - must suspend all commercial and employment contracts. The SET posted NC (non-compliance) and SP (suspension of trading) signs on iTV securities, effective immediately. The suspension will run until the broadcaster can give clear information to the SET about its procedures and a timeline for eliminating the reasons for a delisting.
Good governance The Puay Ungpakorn Institute recently handed out good-governance awards to local firms. Bee Products Industry received one for its outstanding treatment of its employees, and Kinetics was selected for its excellent customer relations. In addition, Archanun Kohpaiboon received an award for his outstanding performance as a new-generation economist.
BT's rights plan BankThai (BT) plans to offer some 2.2 billion new shares via a one-for-one rights issue this year and reduce the par value of its shares, to help write off accrued losses. In a statement to the Stock Exchange of Thailand yesterday, the bank said that at the end of last year, retained losses were Bt8.52 billion. The board has yet to approve the plans. It earlier this week resolved to sell 556.2 million new shares, or a 24.99-per-cent stake, to TPG Newbridge and 175.2 million new shares, or a 7.9-per-cent stake, to other investors for Bt4.17 apiece, raising almost Bt3.05 billion in the process. The sale should be completed by next month, the statement said.
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