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Baht/$ 33.49/52
Bid/Ask
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GOLD |
14,600
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INBrief
ENVIRONMENT : Bangkok Bank has announced a new Bualuang Green Loan programme aimed at small and medium-sized operators seeking to invest in alternative energy, waste management or new technology to reduce energy consumption.
The loans are open to companies receiving a "Green Label" from the Thailand Environmental Institute or with waste management projects. Loans are for one million baht or more at minimum lending rates or lower. Bangkok Bank, which has budgeted 10 billion baht for the programme, will also waive administrative fees for the loans.
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Sugar prices rising
COMMODITIES : Thailand's sugar premium was quoted higher yesterday and was expected to rise further over the next few weeks due to strong demand, traders said.
The premium on Thai raw sugar was quoted at 210 points over New York prices for October shipment, up from 150 points quoted last week.
The benchmark October raw sugar contract eased 0.07 US cents to end at 13.91 cents a pound after trading between 13.84 and 14.35 cents.
Some Bangkok-based international trading houses have started buying sugar from the 2008-09 crop in forward contracts to ensure they have enough stocks for next year.
Cane output for the 2008-09 season starting in November is forecast to fall 4% to 72 million tonnes, according to the Agriculture Ministry.
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Krabi-KL flights
AVIATION :The no-frills carrier AirAsia today will increase flight frequencies from Kuala Lumpur to Krabi to daily from four weekly to respond to greater traffic demand.
Its Thai sister airline, Thai AirAsia, operates two daily flights from Bangkok to Krabi on which it claims average load factor of 85-90%.
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MINT rated A
FINANCE : Tris Rating has affirmed the company and issue ratings of Minor International Plc (MINT) at A with a stable outlook.
Tris said the ratings reflected MINT's strong operating performance, diverse range of established brands in the hotel and quick-service restaurant (QSR) businesses, capable management, a growing overseas presence in hotel management, and the potential to franchise its QSR brands at home and abroad.
Strengths are partially offset by the seasonal nature of the hotel industry, which is highly sensitive to external factors, the highly competitive and low-margin nature of the QSR industry, and the potential impact of inflation. An additional concern is MINT's investments in luxury residential properties and international hotels, which will need substantial amounts of cash.
MINT shares closed yesterday on the SET at 13.80 baht, down 30 satang, in trade worth 11.7 million baht.
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Award for KLeasing
FINANCE : Kasikorn Leasing has been named "Automotive Finance Company of the Year 2008" by Frost & Sullivan Co, an automotive industry research group. The award was given to recognise the company's service strategies and risk management. KLeasing, a unit of the Kasikornbank Group, has a new-loan target of 43 billion baht this year. Founded in mid-2005, it posted growth of 96% in 2007 and 294% in 2006.
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28-day yield 3.18%
DEBT MARKET : The Bank of Thailand yesterday auctioned one billion baht worth of 28-day bills for a weighted average accepted yield of 3.1833%. Accepted bid yields ranged from 3.18% to 3.188%, with the bid coverage ratio 4.37 times.
Also sold were one billion baht in 91-day bills for an average yield of 3.28553% with bid coverage of 4.79 times, and one billion baht in 182-day bills for an average yield of 3.41% with bid coverage of 4.95 times.
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