Thai listed companies top Asean CG Scorecard
Listed companies in Thailand continue to make the highest marks among regional peers on the Asean Corporate Governance Scorecard standard at an average score of 75.39, followed by Malaysia and Singapore at 71.69 and 71.68 respectively.
Dr Bandid Nijathaworn, president and CEO of the Thai Institute of Directors Association, said that of the 529 Asean listed companies participating in the survey, four Thai firms were ranked among the top 10 and 18 Thai enterprises placed among the top 50.
The average score of Thailand’s top 100 companies, in terms of market capitalisation as of April 30, 2013, was 75.39, up sharply from 67.66 in 2012/2013.
Japanese desk at BAY
Bank of Ayudhya has leveraged the strengths of its parent company Mitsubishi UFJ Financial Group (MUFG) to the bank’s distribution strategies by adding a Japanese desk and planning to open more branches in industrial estates Japanese manufacturers operate.
As a member of MUFG, Japanese customers has become major clients, said Krungsri head of distribution Phonganant Thanattrai.
V-shaped recovery: BOT
The Bank of Thailand said its estimate for this year’s economic growth at 1.5 per cent comes as a V-shaped recovery – that is, a sharp rise following a sharp decline – while insisting that Thailand would not face a technical recession, given a second-quarter recovery.
BOT spokeswoman Roong Malikamas said that although the Monetary Policy Committee’s new growth estimate might be regarded by others as relatively low, the expectation is for a rapid recovery.
Egat chairwoman quits
Anchalee Chavanich, chairwoman of the Electricity Generating Authority of Thailand, tendered her resignation on Wednesday to pave the way for the National Council for Peace and Order to promote overall energy reform, according to a source in the state agency.She was appointed chairwoman of Egat in February 2013. Recently five board directors of businesses in PTT Group tendered their resignations.