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Baht/$ 33.62/66
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INBrief
MARKETS :The cabinet yesterday reappointed Thirachai Phuvanatnaranubala as secretary-general of the Securities and Exchange Commission.
Mr Thirachai was first appointed SEC secretary-general in 2004. His term expired earlier this year with the passage of the amended Securities and Exchange Act, which calls for appointees to the position to be made by the SEC board and approved by the finance minister.
"The re-appointment will allow [Mr Thirachai] to carry on the mandate of promoting the Thai capital market to become internationally recognised," the SEC said in a statement.
With the appointment, Mr Thirachai and SEC chairman Vijit Supinit will be responsible for nominating expert members of the new Capital Market Supervisory Board to a separate nominating committee, which in turn will be responsible for proposing final candidates to the finance minister.
Mr Thirachai, a graduate of the London School of Economics, served most of his career at the Bank of Thailand, and was deputy governor from 2002 to 2004 until his transfer to the SEC.
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TMB upgraded
FINANCE :Tris Rating has upgraded the company rating of TMB Bank to A+ from A and the rating of TMB's subordinated debentures (TMB153A) to A from A- with a stable outlook.
Tris said the ratings reflected the potential benefits arising from the bank's strategic partnership with ING Bank, with its strengths in risk management and retail banking, insurance and asset management, which are keys to future growth of the bank. TMB's high legacy NPLs, a major constraint of credit ratings, are also expected to be resolved in the near term by NPL sales.
Strengths are partially offset by the remaining high legacy non-performing assets and a less favourable economic and business environment, which might limit business growth and profitability.
TMB shares closed yesterday on the SET at 1.10 baht, down two satang, in trade worth 98.2 million baht.
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Triple T holding
CORRECTION :In a story titled "TT&T unit ready for WiMax in North", published on page 10 of Tuesday's Business section, reference was made to Triple T Broadband as a "wholly owned broadband internet arm" of TT&T Plc. Triple T was a wholly owned subsidiary of TT&T, but is now held less than 10% by the listed telephone operator.
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