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Baht/$ 33.47/52
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INBrief
BANKING :ACL Bank reported first-half net profits of 175.9 million baht, down slightly from 177.1 million in the same period last year. Second-quarter profits dropped to 56.87 million baht from 61.7 million.
The bank said pre-tax profit for the second quarter was 120.8 million baht, up 70.6% from last year. The bank posted a charge of 79.9 million baht in the second quarter for impairment on investment related to BLF Co, formerly Bualuang Finance.
Net interest and dividend income in the second quarter was 394.8 million baht, up 11.6% from the year before, due largely to a 31.4% increase in loan growth over the first half. Non-interest income in the second quarter was 180 million baht, up 32.5% and including a gain of 35.3 million from the disposal of assets.
Net assets at the end of June were 62.46 billion baht, up 2.2% from the year before. Net loan growth was 11.9% and its investment portfolio gained 34.7% over the first half.
Liabilities at the end of June totalled 50.1 billion baht, up 2.5% from the end of 2007. Deposits rose 25% over the first half while interbank and money market items fell by 24%.
Shares of ACL closed yesterday on the SET at 4.06 baht, up 12 satang.
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DBS Vickers fined
BROKERAGES :The Stock Exchange of Thailand has fined DBS Vickers Securities 200,000 baht for violating rules related to the collection of brokerage and agent fees.
The SET found that DBS Vickers compensated a branch manager in excess of SET regulations. In addition to the fines, the branch manager was directed to be suspended for 30 days and one executive placed on probation for one year. DBS Vickers has accepted the penalties.
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Esso queries duties
PETROLEUM :Esso (Thailand) Plc says it will petition the Supreme Court to overturn an Appeal Court ruling on underpaid import duties.
The Southern Bangkok Criminal Court had ruled on the case brought by the Customs Department, which said Esso had falsely declared values on certain shipments of lubricant base stocks, resulting in underpayment of import duties.
The court fined Esso 436 million baht, and the Appeal Court upheld the conviction and fine this week. Esso said it would seek a stay of enforcement of the fine pending the outcome of the Supreme Court case.
ESSO shares closed yesterday on the SET at 7.25 baht, down 40 satang.
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Lanna unit stalled
MINING :Lanna Resources Plc, a SET-listed mining company, said its subsidiary in Indonesia, PT Citra Harita Mineral (CHM), had to cease operations at its coal mine in Indonesia as a result of a dispute between its business partner and the Indonesian government.
The company had entered into a co-operation agreement with Indonesian-based PT Cahaya Tiara (CT), which was allowed CHM to explore and produce coal until 2014 in a concession licensed to CT.
However, the Supreme Court of Indonesia revoked the licence of CT, resulting in the automatic termination of CHM's exclusive rights.
Lanna said there would be only a slight impact on its performance as it had tow other mines in Indonesia.
Lanna shares closed yesterday on the SET at 13.50 baht, down 15%, in trade worth 11.36 million baht.
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BFIT profit up
FINANCE :Bangkok First Investment and Trust reported first-half net profits of 83.85 million baht, up from 66.7 million in the same period last year.
Second-quarter profits rose to 47.7 million baht from 35.7 million. BFIT attributed the gains in consolidated profits to higher contributions from its securities subsidiary.
BFIT shares closed yesterday on the SET at 5.00 baht, unchanged.
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14-day yield 3.49%
DEBT MARKET :The Bank of Thailand yesterday auctioned 80 billion baht worth of 14-day bills for an average yield of 3.49267% with bid coverage of 1.43 times.
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Reserves off $400m
FINANCIAL DATA :International reserves totalled $105.8 billion as of July 11, compared with $106.2 billion the week before. The net forward position was unchanged at $17.9 billion. Net claims on government were 68.2 billion baht, compared with 72.3 billion the week before. Net policy credits were -1,971.7 billion baht, compared with -2,008.5 billion. Reserve money was 859.9 billion baht, compared with 890.2 billion.
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