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Baht/$ 34.45/50 (Bid/Ask)
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GOLD |
13,150
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IN Brief
BANKING :BankThai shareholders yesterday approved the issue of 6.674 billion new shares in a rights issue to double registered capital to 50 billion baht.
The new shares have a par value of 3.75 baht each, and will be offered on a 1:1 basis to existing shareholders. Pricing has yet to be finalised, but will be no lower than book value of 0.66 baht per share.
The offering will be made only after Malaysia-based CIMB Bank Berhad completes its buyout of BT shares held by the Financial Institutions Development Fund and a subsequent tender offer. The Finance Ministry has yet to approve the CIMB transaction, which requires a waiver of the 49% foreign shareholding limit.
BT shares closed yesterday on the SET at 1.40 baht, up one satang, in trade worth 7.74 million baht.
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Loxley shares fall
STOCKS :Shares of Loxley Plc, the telecommunications and computer-services provider, dropped the most in nine months yesterday after the government halted the start of the online lottery it was to run.
Loxley slid 17.8% to 1.89 baht, in trade worth 175.6 million baht.
The Finance Ministry indefinitely halted the lottery service pending clarification of a supplier contract with a venture between Loxley and US-based Gtech Holdings Corp.
The government in May said that the venture, Loxley Gtech Technology Co, would start selling the new online lottery numbers from Sept 17. Loxley Gtech won the original bid in 2004 for the lottery, the start-up of which was delayed by changes in government.BLOOMBERG
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TMB appointment
BANKING :TMB Bank has named Donald Koch as chief operating officer. Mr Koch, 47, joins TMB from ING Vysya Bank in India, where he served as COO for the past two years. An Australian national, he holds a master's degree in banking and finance from the University of Technology in Sydney and has worked with various ING units in India, Poland, Italy and Australia over the past decade.
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Rubber futures gain
COMMODITIES :Natural rubber futures advanced yesterday on speculation that demand may rise after a drop in prices to a one-week low spurred buying.
Prices gained as much as 1.6% after tumbling by the most in three months on Tuesday, when a slump in crude oil cut the appeal of commodities as an inflation hedge.
"Lower prices provide a good opportunity to buy," said Takaki Shigemoto, an analyst at the Tokyo commodity broker Okachi & Co.
Rubber for February delivery rose 1.1% to 310.4 yen ($2,882 a tonne on the Tokyo Commodity Exchange.
Futures also drew support from speculation that political turmoil in Thailand may disrupt shipments, Mr Shigemoto said.
Thai exporters offered RSS-3 grade rubber for October shipment at $2.99 a kilogramme yesterday, down from $3.02 on Tuesday. BLOOMBERG
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Cebu adds Bangkok
AVIATION :Cebu Pacific Air, the Philippines' second-largest airline, will add services to Macau, Singapore, Hong Kong and Bangkok in November when it starts international flights from the former Clark air force base.
The carrier would fly daily to Hong Kong and Singapore, president Lance Gokongwei said yesterday in Manila. Flights to Macau will be four times a week and flights to Bangkok will be thrice-weekly. BLOOMBERG
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BBL fund transfers
BANKING :Bangkok Bank has joined with Western Union to provide customers with access to Western Union money transfer services.
Bangkok Bank account holders, foreign residents and tourists can send and receive money within minutes to 355,000 Western Union agent locations through over 400 Bangkok Bank branches, micro-branches and foreign-exchange booths nationwide.
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Cigna assistance
INSURANCE :Cigna Insurance has joined with Assist America to offer 24-hour global emergency services to its policyholders and their families.
Cigna's policyholders who face emergencies caused by either accident or health problems, will be covered by Assist America services, even in a war or conflict zone.
Unlike other global emergency service providers, Assist America will pay for all the services it provides and with no charge back to Cigna policyholders, said Silparat Watthanakasetr, strategic marketing director of Cigna Insurance.
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