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Published on April 10, 2008

All the blocks are in Burma. PTTEP yesterday said the swap would take effect once approval is granted by Burma's government. The swap is part of the company's strategy to manage risk and create new investment opportunities.

SCC outlook lowered by Fitch Ratings

Fitch Ratings (Thailand) has revised down Siam Cement's rating outlook from 'stable' to 'negative', due to the weakening in SCC's business fundamentals in its core businesses on higher raw-material and energy costs, overcapacity and uncertain global demand.

   Higher costs could further weaken the firm's financial performance and margins, as well as reduce financial flexibility, Fitch said yesterday.

SCB to auction more of its problem loans

Siam Commercial Bank will sell more non-performing loans through auction over the rest of the year, after selling more than Bt8 billion of NPLs in the first quarter to Morgan Stanley and Alpha Capital Asset Management.

   SCB president Kannikar Chalitaporn yesterday said more auctions would be organised later this year.

   The bank's exposure to NPLs had declined from 7.9 per cent in 2006 to 6.1 per cent in 2007. It expects it will drop further to 5 per cent or less this year.

The Nation