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Baht/$ 33.56/59
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IN Brief
HEALTH CARE : Bangkok Dusit Medical Service (BGH) is looking for expansion opportunities in Saudi Arabia, according to director Chatree Duangnet.
He said improving diplomatic relations between the two countries would open new potential business opportunities.
BGH, which operates Bangkok Hospital, Samitivej and Bangkok Nursing Hospital, already has a venture in the United Arab Emirates and Cambodia, and is looking to expand further in the Middle East.
Foreign patients account for 40% of the group's total, up from 35% last year. Domestic patient visits are projected to rise by 12% this year, with foreign patient visits up 18%. The group has 3,500 beds total, including its overseas operations.
Dr Chatree said the company expected revenue growth of 15% for the year, thanks to an increase in patient beds and investments overseas. Second-quarter results are projected to rise from last year, although decline somewhat from the first quarter.
BGH reported first quarter profits of 696.98 million baht on revenues of 5.57 billion. The company posted profits of 1.24 billion baht on revenues of 18.8 billion last year.
Shares of BGH on the Stock Exchange of Thailand closed yesterday unchanged at 36.5 baht on trade worth 22.87 million baht.
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LH rating affirmed
PROPERTY :Tris Rating has affirmed the ratings of Land & Houses Plc and its existing senior debentures at A. Tris has also assigned an A rating to LH's proposed issue of up to three billion baht worth of senior debentures due in 2012. The outlook is stable.
Tris said the ratings reflected LH's leading position in the residential property market, its well-recognised brand, proven record of providing quality housing, and its healthy balance sheet. The ratings also take into consideration the slowdown in demand for residential property and the cyclical nature of the market. The uncertain political situation and declining consumer confidence remain concerns
LH shares closed yesterday on the Stock Exchange of Thailand at 7.25 baht, down 35 satang, in trade worth 139.3 million baht. 4% SCIB offer
BANKING :Siam City Bank is offering annualised deposit rates of up to 4% under its SCIB Roungroj 15-month fixed account.
The account pays interest every three months, with the first three months at 2.75% and rising in 0.25-point steps to 4% for the 13th to 15th months. The promotion expires on July 31, and has a minimum deposit of 10,000 baht.
Shares of SCIB closed on the Stock Exchange of Thailand at 16 baht yesterday, up 20 satang, in trade worth 100.26 million baht.
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Rubber retreats
COMMODITIES :Natural rubber futures fell yesterday in Tokyo fell after crude oil lost more than $2 a barrel on increased US inventories, weakening the appeal of commodities as an inflation hedge.
Futures fell as much as 1.2% after data showed the first increase in US crude inventories in six weeks as record prices cut demand. Natural rubber tends to move in the same direction as oil as competing synthetic rubber is made from naphtha, a petroleum byproduct.
Rubber for December delivery, the most-active contract, lost 0.5% to settle at 347.9 yen a kilogramme ($3,225 a tonne) on the Tokyo Commodity Exchange. Losses were limited by speculation that a gap between US and European interest rates may widen, sending the dollar lower and raising the appeal of commodities. BLOOMBERG
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Piracy crackdown
COPYRIGHTS :The Commerce Ministry has set up two subcommittees to tackle intellectual property piracy in an attempt to remove Thailand from the United States' priority watch list.
According to Pol Lt Col Banyin Tangpaporn, a deputy commerce minister, the subcommittees would handle public relations and suppression activities. Five investigation teams and five suppression teams would be also established to support their anti-piracy activities.
"The government has well realised the need to tackle piracy," he said.
According to the minister, target venues are mainly Pantip and Tawanna shopping complexes, as well as Klong Thom, Saphan Lek and Patpong markets in Bangkok. Other areas include Chiang Mai, Phuket, Chon Buri, Songkhla and Krabi.
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