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Published on April 3, 2008

 The "Thailand Focus - Singapore Roadshow" will be held at the Mandarin Oriental from April 24-25.

International investors are keen to learn first hand about the political situation in Thailand and the economic recovery, as well as how the government is stimulating the domestic economy and dealing with inflation.

Surapong, SET chairman Pakorn Malakul na Ayudhya and SET president Pattareeya Benjapolchai will lead the delegation with representatives from 11 Thai listed companies.

They are Bank of Ayudhya, Bumrungrad Hospital, Central Pattana, IRPC, Major Cineplex Group, PTT Aromatics & Refining, PTT, Quality Houses, Siam Commercial Bank, The Erawan Group, and Siam Cement Group.

On April 24, investors can meet the heads of the top companies on a one-on-one basis from 9am-6pm.

On April 25, the day will start at 9.30am with an introduction by SCBS/Goldman Sachs followed by a welcome speech by Pakorn. Surapong will give his keynote speech at 10am, followed by a luncheon and one-on-one corporate meetings.

Fed loan securities

Meanwhile, the details of the securities behind a controversial US loan have finally been disclosed.

The US Treasury Department said yesterday the securities backing a US$29 billion (Bt913 billion) Federal Reserve loan to Bear Stearns consist primarily of "mortgage-backed securities and related hedge investments".

The disclosure, in a letter to the Senate Finance Committee staff, is the first official comment on the securities behind the controversial loan made on March 16 to facilitate JP Morgan Chase's takeover of Bear Stearns. The Fed made the loan with the Treasury's approval, fearing Bear would otherwise fail, causing a serious disruption in financial markets.

Based on the makeup of Bear's balance sheet, outsiders have surmised that the securities consisted of residential and commercial mortgage-backed securities.

The Fed will lend $29 billion to the entity, and JP Morgan will lend $1 billion. Under the deal's terms, the Fed will be repaid first from proceeds of the sale or maturity of the securities, and JP Morgan will be paid last, so it will bear the first $1 billion of losses.

Because any profit or loss would affect the annual surplus the Fed remits to the Treasury from interest on its $800 billion portfolio of securities and loans, either ultimately would be borne by taxpayers. 

The Nation