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Baht/$ 34.23/25 (Bid/Ask)
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13,350
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INBrief
SAVINGS BONDS :The Finance Ministry will float 43 billion baht worth of savings bonds in fiscal 2009, up from 18 billion in fiscal 2008, according to Deputy Finance Minister Suchart Thadathamrongvej.
He said government and state enterprise borrowings for the fiscal year starting on Oct 1 would total 1.2 trillion baht, including 513 billion by the government, 218 billion to offset liabilities of the Financial Institutions Development Fund, 175 billion by state enterprises and $2.5 billion in overseas loans. Foreign debt refinancing would total $2.9 billion, while 249 billion in debt would be taken to offset the budget deficit.
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New print academy
PRINTING :The Thai Printing Association has established the first Thai Print Academy in a bid to make the country a printing hub in Southeast Asia and enhance the quality of industry personnel.
The academy, whose goal is to solve a shortage of qualified people, was established in co-operation with Vocation Education Commission. Located in Samut Sakhon, it will train students in the latest printing technology and machinery.
Kriengkrai Thiennukul, chairman of The Federation of Thai Industries' Printing and Packaging Industry Club, said the sector was facing fiercer competition in both local and export markets and a shortage of staff. Therefore, printing companies should find business alliances to strengthen performance and revenues.
Thailand's printing industry is valued at 28 billion baht for books, printing materials and packaging.
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KEST rated A
FINANCE :Fitch Ratings has affirmed the A(tha) national long-term rating and F1(tha) short-term rating for Kim Eng Securities (Thailand) Plc (KEST). The outlook is stable.
The ratings reflect the broker's strong local retail franchise, which benefits from support of its strong foreign parent (Kim Eng Holdings Ltd of Singapore), as well as solid capital and liquidity positions.
KEST shares closed on Friday on the SET at 16.40 baht, unchanged.
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ASP affirmed at A-
FINANCE :Fitch Ratings has affirmed the national long-term rating of Asia Plus Securities (ASP) at A-(tha) and national short-term rating at F2(tha) with a stable outlook.
ASP's ratings reflect its strong position in domestic retail brokerage and investment banking, as well as solid capital and liquidity positions. ASP has diversified its revenue stream through the expansion of its fund management and private banking businesses to minimise the effects from the liberalisation of brokerage commissions, expected in 2010.
ASP shares closed on Friday on the SET at 2.28 baht, unchanged.
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Reserves off $700m
FINANCIAL DATA :International reserves totalled $101.7 billion as of aug 22, down from $102.4 billion the week before, according to the Bank of Thailand. The net forward position was $16.1 billion as of aug 22, compared with $15.9 billion the week before. Net claims on government were 111.4 billion baht, compared with 92.1 billion. Net policy credits were -1,991.6 billion baht, compared with -1,979.6 billion. Reserve money was 852.7 billion baht, compared with 873.1 billion the week before.
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