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| • EXCH RATES |
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Baht/$ 33.40/43
Bid/Ask
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GOLD |
13,950
+ 150
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IN Brief
BROKERAGES :Adkinson Securities has purchased the entire 11.63% stake held by TMB Bank in MFC Asset Management for 202.35 million baht. Adkinson (ASL) purchased 13.95 million MFC shares at 14.50 baht each, raising its holding to 16.21%.
TMB, which is the majority shareholder of TMB Asset Management and has an affiliation with ING Funds, now holds no shares in MFC.
MFC shares closed unchanged yesterday on the Stock Exchange of Thailand at 14 baht. TMB shares fell five satang to 1.15 baht, in trade worth 123 million baht, while ASL rose one satang to 0.70 baht in trade worth 20.17 million.
Sadawut Teachaubol, the ASL chief executive officer, said the investment was a good long-term buy, given MFC's strong fundamentals and dividend performance. He added that ASL had one billion baht in cash available for proprietary investment.
Deutsche bonds
FINANCE :The Thai unit of Deutsche Bank said yesterday that it had issued 4.6 billion baht in three-year bonds to finance its business.
The unsecured bonds would carry a fixed coupon of 5.73% and were offered to institutional investors early this week, the bank said.
The bonds were offered about 70 basis points over three-year government bonds, which were trading yesterday at 5.20%.
The issue was rated AA by Standard & Poor's and AA- by Fitch.REUTERS
SVI rated BBB+
FINANCE :Fitch Ratings has assigned a BBB+(tha) national long-term rating and a F2(tha) national short-term rating to SVI Plc. The outlook is stable.
Fitch said the ratings reflected SVI's strong niche position in the electronic manufacturing service industry (EMS) which focuses on the fast growing, less volatile, and higher-margin non-traditional end-product segment.
The ratings also factor in strong growth prospects in the non-traditional EMS market, driven by end-market demand and an increasing trend of original equipment manufacturing (OEM) outsourcing manufacturing to EMS.
SVI shares closed yesterday on the SET at 1.31 baht, down four satang, in trade worth 5.24 million baht.
Diesel seized
PETROLEUM :Malaysian customs officers have seized 700 litres of smuggled diesel fuel bound for Thailand, news reports said yesterday.
The anti-smuggling unit in the northern state of Perlis also detained a local suspect, 44, during a raid at a store late Wednesday.
The diesel was believed to have been accumulated from local truck drivers and was to be smuggled to Thailand, where the price of diesel is higher than in Malaysia, unit chief Zakaria Abdul Rahman said.
"The smugglers have changed their tactic from modifying fuel tanks to keeping them in illegal stores before smuggling the diesel across," the official was quoted as saying by the official Bernama agency.
Earlier this month, Malaysia raised the price of petrol by 40% and the price of diesel by 60% to offset high subsidy bills.
However, gasoline and diesel are still as much as 35% cheaper than in Thailand and Singapore, prompting border police to intensify raids.dpa
14-day bill 3.21%
DEBT MARKET :The Bank of Thailand yesterday sold 75 billion baht worth of 14-day bills for an average yield of 3.2111%. Accepted bid yields ranged from 3.198% to 3.22%, with the bid coverage ratio 1.51 times.
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