Rating for Thai Oil unrelated to issue size: S&PStandard & Poor's Ratings Services said last week that its "BBB" issue rating on the proposed senior, unsecured notes of Thai Oil was unaffected by the announced size of the issuance.
The issuance has not affected its ratings on the company, as in its view, Thai Oil's strong liquidity and positive free operating cashflow will temper the increase in leverage from the proposed issuance of US$1 billion in notes.
"We expect Thai Oil's financial strength to weaken in 2013 due to the proposed debt issuance and reduced operating cashflows stemming from thinner margins. However, we anticipate that Thai Oil's liquidity will remain strong in the next two years and the company will maintain positive free operating cashflows," S&P said. "These factors should help the company to reduce debt and lower the debt-to-EBITDA ratio below 3.0 times by 2014," it said, referring to earnings before interest, tax, depreciation and amortisation. - The Nation
Rolls Wraith to be revealed soon
Rolls-Royce Motor Cars last week confirmed the world premier of its next model, Rolls-Royce Wraith, at the Geneva Motor Show on March 5. The first deliveries to customers are expected in the fourth quarter of 2013, CEO Torsten Muller-Otvos said in a press release. - The Nation
Sharp launches Aquos phones
Qool Distribution (Thailand) last week introduced the Sharp full-HD Aquos smartphone together with three other models covering all categories.
Sharp claims the Aquos technology gives the best viewing experience.
Somchai Sittichaisri-chart, managing director of SiS Distribution (Thailand) Plc, the parent of Qool, said Sharp has been a leading brand in Japan for 12 years.
The four models are the SH530U for first-time smart-phone users with white and pink colour selection; the SH631W designed for young users; SH837W for students and young professionals keen for a new phone and features; and SH930W, a 5" full-HD Aquos smartphone for professionals and entertainment enthusiasts.
Sharp TVs have had a long reputation for performance and the Aquos technology that Sharp has transferred to its smartphone.
"SiS is confident that with our expertise in the Thai market we will be able to successfully introduce the phones and receive a very warm welcome from the Thai mobile user," he said.
This year mobile phones are predicted to overtake PCs as the most common Web-access device worldwide."We see the same trend in Thailand. However, Thai users have their preferences and styles and infotainment is one of the most popular features. Thai users always welcome new players in the market on the condition that they have to offer best-in-class technology, which Sharp has," he said.