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Baht/$ 33.57/62
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GOLD |
14,000
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INBrief
Tris Rating has upgraded the ratings of Banpu Plc and its debentures to AA- from A+ with a stable outlook.
Tris said the upgrades were based on Banpu's stronger financial profile following greater contribution from its power business, the successful listing of its Indonesian subsidiary, and favourable coal prices. The ratings also take into consideration the company's proven record in the regional coal market and reliable dividends from the power business.
However, the uncertain investment climate in Indonesia and China along with rising operating costs remain rating concerns.
Banpu shares closed yesterday on the SET at 544 baht, up four baht, in trade worth 532.43 million baht.
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Two seek TOT post
COMMUNICATIONS :Only two candidates have applied for the presidency of TOT Plc as of the close of applications yesterday.
The candidates are Warut Suvakorn, who is currently a TOT deputy president, and former president Teerawit Charuwat.
TOT board chairman Teerawut Boonyasopon said the struggling state enterprise was looking for a long-term leader.
"I don't want a person who comes in only to resolve the problems in this organisation or to clear its debts or settle legal disputes with private operators, or to privatise TOT because I hate a person who offers to sell his own house," he said.
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Hutch, AIS settle
COMMUNICATIONS :Hutchison CAT Wireless MultiMedia Limited and Advanced Info Service have reached agreement to mutually withdraw their court cases filed earlier.
In a brief statement issued after reaching an out-of-court settlement over allegations of signal blocking by AIS, Hutch said it believed this would be the most appropriate action in protecting the best benefits of its customers.
"We are working closely together to resolve call problems and ensure our customers are satisfied with our offered services," it said.
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DRT lifting exports
BUILDING MATERIALS :Diamond Roofing Tiles Plc (DRT), a listed roof and wall material manufacturer, plans aggressive export expansion with a goal of 12% of total forecast sales of 2.8 billion baht this year.
The company will focus on joining trade fairs in target countries to increase brand awareness. It is exhibiting at the Vietnam International Construction & Building Exhibition 2008 this week and will join the China International Building & Decoration Fair 2008 from July 6-9.
DRT expects its exports will grow by 20% this year with its main markets being Cambodia, Laos, Burma and China. It projects exports will account for 15% of total sales next year when it opens its new production line.
DRT shares closed yesterday on the SET at 2.60 baht, unchanged, in trade worth 1.25 million baht.
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Thai Mobile ruling
COMMUNICATIONS :The National Telecommunications Commission has ruled that the 1900 Megahertz band allocated to Thai Mobile to provide mobile phone services can be transferable.
TOT Plc, the major shareholder of Thai Mobile, had asked the NTC if the right to provide mobile service on the 1900 MHz band could be transferred to another entity to become the sole provider of the service.
Uncertainty about he legality of a transfer had made TOT hesitant to buy out the 42% stake in Thai Mobile held by CAT Telecom.
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15-year yield 6.4%
DEBT MARKET :The Bank of Thailand yesterday auctioned six billion baht in 15-year bonds for an average yield of 6.4292% with bid coverage of 1.61 times.
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