TMB announced that 2010 will be a year that it will leverage its operational strength for strong and sustainable growth by setting a target of achieving 17% growth in deposits and 10% growth in lending. The Bank intends to improve its asset quality by reducing its ratio of non-performing loans to a single digit. Within five years, TMB plans to increase its Return on Equity (ROE) to 14% by 2014.
Mr. Boontuck Wungcharoen, Chief Executive Officer, TMB Bank, said TMB intends to reinforce its strength and leadership as one of Thailand’s leading banks by sustaining the momentum it gained from its 2009 successes. Last year, the Bank’s net profit grew by nearly 400% to 2,044 million baht as a result of restructuring and implementation of a bank-wide transformation program which included: organizational restructuring, development of branches towards service excellence, end-to-end processes revamp, Human Resources Transformation (2008-2009) and upgrading of risk management frameworks and policies. TMB’s brand image has also improved considerably as reflected in an independent survey whereby 80% of target groups have shown interest in using TMB services compared with only 31% in last May.
Mr. Boontuck unveiled the Bank’s 2010 business direction as the second stage of its five-year plan. TMB has laid down four key strategies namely: Growing with quality; enhancing operational efficiency; preempting and clearing NPLs; and delivering value-added products and services to customers, under-pinned by its focus to become an employer of choice.
Mr. Boontuck said in 2010 the Bank targets to achieve 15% income growth; boosting fee-based income by 20%; 17% deposit growth; and 10% growth in lending from last year. In lending facilities, the Bank targets a 20% increase in the SMEs segment, a 10% growth in the wholesale segment and between 7-8% in retail credits.
In 2010 the Bank aims to develop the quality of assets by stemming potential non-performing loans, in tandem with reducing existing NPLs. The target is to reduce its NPL ratio from 12.7% in 2009 to 9% or less through debt restructuring and auctioning NPLs as opportunities arise.
Mr. Boontuck said “TMB has a healthy capital base, with a Capital Adequacy Ratio (CAR) of 17.1%, up from 13.9% in 2008. From all the transformation we have conducted throughout last year, the Bank now stands on solid operational ground, ready to achieve business targets set for 2010, in line with economic forecasts that show improvement from last year.”
HR Transformation — Becoming a performance-based organization
Another key priority for TMB is to continue its Human Resources transformation that the Bank began the end of last year to become a performance based organization.
Mr. Boontuck also said that employees constitute the core of being a performance-based organization and are at the heart of our HR transformation. “TMB wants to have an environment that recognizes competency, rewards performance and provides robust opportunities for career development.”
The transformation to become a performance-based organization will include: organizational design, clarifying functional roles, benchmark compensation with market rate, job grading, aligning titles with functional roles and designing a total compensation package.
Mr. Boontuck concluded that “Upon completion of the HR Transformation program, the total compensation package for staff will be benchmarked with that of the market and individual competency. Variable Performance Bonus will be paid on the basis of the Bank’s overall performance and individual performance. In addition, employees will have enhanced opportunities for career development, expanding functional roles and taking on greater responsibilities. This will allow employees to maximize their potential at work and to increase their competency and performance.”
TMB Bank Public Company LimitedFounded on 8 November 1957, TMB Bank Pcl. operates a commercial banking business under a license granted by the Ministry of Finance, and with consent given by the Bank of Thailand. It also operates a securities business licensed by the Ministry of Finance and agreed to by the Securities Exchange Commission.
TMB aims to respond to the needs of its clients through its 486 branch network, 105 foreign exchange centers, 2,266 ATMs, as well as electronics banking systems. Its business encompasses commercial banking, offshore banking, investment banking, and other businesses as permitted by the regulatory authorities, including acting as an insurance agent for its alliance insurance companies.
Listed on the Stock Exchange of Thailand, TMB is the sixth largest bank, by total assets, in Thailand. As at 31 December 2009, its total assets are valued at THB 541,637 million.
Sunday, February 7, 2010
Sunday, January 24, 2010
High-level UN meeting to examine progress in implementation of plan to help least developed countries
Bangladesh Prime Minister scheduled to address Dhaka event
Bangkok (UN ESCAP Information Services) – The United Nations is set to convene a meeting next week in Bangladesh to assess and develop a regional position for Asia and the Pacific ahead of a global review next year on progress made in assisting the world’s least developed countries (LDCs).
From 18 to 20 January in Dhaka, ministers and senior government officials from15 countries will also seek to identify key issues requiring global and regional cooperation to further advance the objectives of the 2001-2010 Brussels Programme of Action (BPoA). That programme seeks “to make substantial progress toward halving the proportion of people living in extreme poverty and suffering from hunger by 2015 and promote the sustainable development of the LDCs.”
Prime Minister Sheikh Hasina of Bangladesh is slated to inaugurate the meeting, and ministers from eight LDCs are expected to take part in a ministerial-level exchange. Noeleen Heyzer, UN Under-Secretary-General and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP), will participate in the meeting along with Cheick Sidi Diarra, UN High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States.
During her visit, Dr. Heyzer is expected to hold talks with Prime Minister Hasina, as well as with President Zillur Rahman, Finance Minister Abul Mal A Muhith and Foreign Minister Dipu Moni. The Executive Secretary’s itinerary also includes a visit to the Centre for the Rehabilitation of the Paralyzed, a rehabilitation facility for injured spinal patients outside Dhaka in Savar.
Discussions at the three-day meeting are expected to cover issues and concerns related to reducing poverty and hunger by promoting sustainable and inclusive development in the LDCs; promoting food security through sustainable agriculture; and enhancing the share of LDCs in global trade, aid and financial flows and promoting their productive capacity.
Participants will also look at protecting the environment and reducing the vulnerability of the LDCs to climate change, and developing human and institutional capacities to support inclusive and sustainable development of the LDCs.
The meeting’s results will be presented in May to the annual ESCAP Commission session in Incheon, Republic of Korea, for further discussion by member States. Afterwards an assessment of implementation of the BPoA and future priorities at the regional level will be transmitted to the global review in 2011 in Turkey.
The 14 LDCs in the Asia-Pacific region for the purposes of Brussels review include Afghanistan, Bangladesh, Bhutan, Cambodia, Kiribati, Lao PDR, Maldives, Myanmar, Nepal, Samoa, Solomon Islands, Timor-Leste, Tuvalu and Vanuatu. Yemen, the lone LDC in the Middle East, is also participating in the meeting.
Bangkok (UN ESCAP Information Services) – The United Nations is set to convene a meeting next week in Bangladesh to assess and develop a regional position for Asia and the Pacific ahead of a global review next year on progress made in assisting the world’s least developed countries (LDCs).
From 18 to 20 January in Dhaka, ministers and senior government officials from15 countries will also seek to identify key issues requiring global and regional cooperation to further advance the objectives of the 2001-2010 Brussels Programme of Action (BPoA). That programme seeks “to make substantial progress toward halving the proportion of people living in extreme poverty and suffering from hunger by 2015 and promote the sustainable development of the LDCs.”
Prime Minister Sheikh Hasina of Bangladesh is slated to inaugurate the meeting, and ministers from eight LDCs are expected to take part in a ministerial-level exchange. Noeleen Heyzer, UN Under-Secretary-General and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP), will participate in the meeting along with Cheick Sidi Diarra, UN High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States.
During her visit, Dr. Heyzer is expected to hold talks with Prime Minister Hasina, as well as with President Zillur Rahman, Finance Minister Abul Mal A Muhith and Foreign Minister Dipu Moni. The Executive Secretary’s itinerary also includes a visit to the Centre for the Rehabilitation of the Paralyzed, a rehabilitation facility for injured spinal patients outside Dhaka in Savar.
Discussions at the three-day meeting are expected to cover issues and concerns related to reducing poverty and hunger by promoting sustainable and inclusive development in the LDCs; promoting food security through sustainable agriculture; and enhancing the share of LDCs in global trade, aid and financial flows and promoting their productive capacity.
Participants will also look at protecting the environment and reducing the vulnerability of the LDCs to climate change, and developing human and institutional capacities to support inclusive and sustainable development of the LDCs.
The meeting’s results will be presented in May to the annual ESCAP Commission session in Incheon, Republic of Korea, for further discussion by member States. Afterwards an assessment of implementation of the BPoA and future priorities at the regional level will be transmitted to the global review in 2011 in Turkey.
The 14 LDCs in the Asia-Pacific region for the purposes of Brussels review include Afghanistan, Bangladesh, Bhutan, Cambodia, Kiribati, Lao PDR, Maldives, Myanmar, Nepal, Samoa, Solomon Islands, Timor-Leste, Tuvalu and Vanuatu. Yemen, the lone LDC in the Middle East, is also participating in the meeting.
Wednesday, December 16, 2009
‘Roses of the North’ Charity Exhibition
Flowers can make everyone feel happy…. H.E.Privy Councillor Palakorn Suwanrath and Thanpuying Dhasaniya Suwanrath recently presided over at ‘Roses of the North’ charity oil painting exhibition inspired by Bhubing Palace organized by L’Occitane and Baan Saen Doi Resort in Chiang Mai. The art of mercy rose oil painting exhibition was held at Peninsula Plaza and part of sales went to support schools and hospitals where are needed in Chiang Mai. Many kind hearted celebrities attended the event including Khunying Dhipavadee Meksawan, Mr.Harald Link, Arunee Bhirombhakdi, Atchara Tejapaibul, M.L.Sirichalerm Svasti, M.L.Thongmakut and Jarujit Thongyai, Yuwadee and Nidsinee Chirathivat, Dararatana and Toey Mahadumrongkul, Chadapah Snidvongs, Captain Deuntemduang Na Chiengmai, Pimpawan Limpichart, Joy Sopitpongstorn, Panitnuj Bunnag, Piranuj T.Suwan, Sodsoi Chomthavat, Mayura Savetsila, Wanchana Sawasdee and more.
The exhibition showcased of over 70 oil painting of roses flowers by artist and art lecturer Narin Phothisombat. Narin Phothisombat is a talented artist with an art degree from Chiang Mai Technology Rajchamonkol. His painting was inspired by roses from Phra Tamnak Bhubing Rajanives (Bhubing Palace). His painting reflected his pride and passions towards the beauty of nature for roses including Queen Sirikit, Eliza, Rouge Meilland, Queen Elizabeth and Royal Air Force.
In addition there was the charity auction on 2 oil painting pieces. The first one was the painting of Queen Elizabeth which won by Harald Link, CEO of B.Grimm for 120,000 Baht and the other piece on Queen Sirikit won by Arunee Bhirombhakdi for 75,000 Baht.
The exhibition showcased of over 70 oil painting of roses flowers by artist and art lecturer Narin Phothisombat. Narin Phothisombat is a talented artist with an art degree from Chiang Mai Technology Rajchamonkol. His painting was inspired by roses from Phra Tamnak Bhubing Rajanives (Bhubing Palace). His painting reflected his pride and passions towards the beauty of nature for roses including Queen Sirikit, Eliza, Rouge Meilland, Queen Elizabeth and Royal Air Force.
In addition there was the charity auction on 2 oil painting pieces. The first one was the painting of Queen Elizabeth which won by Harald Link, CEO of B.Grimm for 120,000 Baht and the other piece on Queen Sirikit won by Arunee Bhirombhakdi for 75,000 Baht.
Tuesday, December 15, 2009
ESCAP and Russian Federation to Sign Cooperative Development Agreement
Signing ceremony Thursday 11:30, 17 December at ESCAP Building
The Economic and Social Commission in Asia and the Pacific (ESCAP) – the regional arm of the United Nations - and the Russian Federation will sign an agreement this Thursday to strengthen cooperation, with a view to promoting inclusive and sustainable economic and social development in Asia and the Pacific.
Under the agreement, the Russian Federation provides a voluntary
contribution of US$ 1.2 million annually during the period 2009-2010 to support key programme activities of ESCAP.
ESCAP will be hosting a signing ceremony where Mr. Gennady Gatilov of the Russian Federation Ministry of Foreign Affairs and Dr. Noeleen Heyzer, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP will formalize the agreement.
In response to the regional development priorities, the Russian contribution will be used for technical cooperation projects to develop capacities and improve development in key areas such as environment, energy, regional transport connectivity, disaster risk reduction, statistics and migration.
The ceremony will take place Thursday 17 December 2009, 11:30 on the 15th floor of the ESCAP Secretariat building. Media are welcome to cover the ceremony. Please register in advance for building access at unisbkk.unescap@un.org.
The Economic and Social Commission in Asia and the Pacific (ESCAP) – the regional arm of the United Nations - and the Russian Federation will sign an agreement this Thursday to strengthen cooperation, with a view to promoting inclusive and sustainable economic and social development in Asia and the Pacific.
Under the agreement, the Russian Federation provides a voluntary
contribution of US$ 1.2 million annually during the period 2009-2010 to support key programme activities of ESCAP.
ESCAP will be hosting a signing ceremony where Mr. Gennady Gatilov of the Russian Federation Ministry of Foreign Affairs and Dr. Noeleen Heyzer, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP will formalize the agreement.
In response to the regional development priorities, the Russian contribution will be used for technical cooperation projects to develop capacities and improve development in key areas such as environment, energy, regional transport connectivity, disaster risk reduction, statistics and migration.
The ceremony will take place Thursday 17 December 2009, 11:30 on the 15th floor of the ESCAP Secretariat building. Media are welcome to cover the ceremony. Please register in advance for building access at unisbkk.unescap@un.org.
Saturday, November 21, 2009
Glow’s profitability on track in Q3 2009
Glow Group (“Glow”) posted consolidated total revenues of THB 25,836 million, Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”) of THB 5,743 million and Normalized Net Profit (“NNP”, net profit before unrealized foreign exchange gains and losses) of THB 2,669 million for the 9 months of 2009.
The 3rd quarter NNP of 2009 for Glow stood at THB 899 million. The key drivers for the result were strong industrial customers’ sales, whose power and steam consumption have returned back to normal levels since mid year, and favorable operating margins, where fuel prices have stabilized along with the electricity tariffs.
The 3rd quarter result is THB 274 million below the previous quarter, mainly because of two key reasons. First, unlike in the previous quarter, the 3rd quarter result does not include the business interruption compensation for the outage earlier this year of the 150 MW coal-fired Unit 1. The Company expects to receive the remaining business interruption claim of more than THB 100 million. Secondly, there was lower availability in the 3rd quarter due to a minor forced outage and a one-month major maintenance of the 150 MW coal-fired Unit 2, which was deferred from the previous quarter, the total effect was a reduction in profitability in the 3rd quarter by about 100 million baht. The 4th quarter plant availability is expected to return to normal as there is no other major maintenance scheduled until later 2011
Mr. Esa Heiskanen, the CEO of Glow Group commented: “The operation and performance of the Group have returned to normal and our industrial customer sales volumes have returned to expected levels. Our operating margin has also recovered to normal levels as the Ft remains high and fuel prices have stabilized .”
Mr. Esa continued to add “We are following up very closely on what the impact of the temporary suspension ruling has on our numerous customers in Map Ta Phut, Glow currently has all the necessary permits for our expansions, including the 115 MW coal-fired, 382 MW gas-fired, and 660 MW coal-fired IPP. Our expansions will utilize proven technology to ensure low emissions and will include reduction in emission from our existing plants, where the net result will be an improvement in the overall air quality in Map Ta Phut. We are confident that our projects are environmentally sound and will benefit surrounding communities as the total emission from our existing and new plants would be lower than current levels.
”Glow’s year-to-date interest expenses and corporate income tax have increased from same period last year. The effective tax rate has gradually been increasing year on year, as tax privileges for some of Glow’s older plants are starting to expire. However, the overall effective tax rate for the group will come down after the tax exemption period begins for the expansion projects after commercial operation starting in 2010.
Mr. Suthiwong Kongsiri, the CFO of Glow Group further explained: “The increased interest expenses is not due to higher funding costs but it is reflecting the higher debt level due especially to our strategy to pre-fund some of our funding needs at the beginning of the year, this strategy is aimed at mitigating liquidity risk which has resulted from troubles in global financial market. We now have the necessary funding through to the 2nd quarter of 2010 and are very confident in our ability to secure the remaining funds needed for our expansion projects, thanks to our solid business fundamentals, robust performance and improved market conditions.”
About Glow Energy
Glow Energy is a member of the Glow Group who is a major energy player in Thailand. Glow Group combined installed capacities include 1,860 MW (Glow’s stake is 1,775 MW) of electricity and 967 tons per hour of steam.
Glow Group generate and supply electricity to Electricity Generating Authority of Thailand (EGAT) under Thailand's SPP (Small Power Producer) and IPP (Independent Power Producer) programs, as well as electricity, steam, industrial water and services to large industrial customers principally located in the Map Ta Phut area and nearby.
GDF SUEZ Energy Europe & International is Glow Energy’s major shareholder and is a division of the GDF SUEZ Group, one of the largest international industrial and services groups in the world.
For more information about GDF SUEZ please visit the companies’ website at www.gdfsuez.com.. For more information about the Glow Group please go to www.glow.co.th
The 3rd quarter NNP of 2009 for Glow stood at THB 899 million. The key drivers for the result were strong industrial customers’ sales, whose power and steam consumption have returned back to normal levels since mid year, and favorable operating margins, where fuel prices have stabilized along with the electricity tariffs.
The 3rd quarter result is THB 274 million below the previous quarter, mainly because of two key reasons. First, unlike in the previous quarter, the 3rd quarter result does not include the business interruption compensation for the outage earlier this year of the 150 MW coal-fired Unit 1. The Company expects to receive the remaining business interruption claim of more than THB 100 million. Secondly, there was lower availability in the 3rd quarter due to a minor forced outage and a one-month major maintenance of the 150 MW coal-fired Unit 2, which was deferred from the previous quarter, the total effect was a reduction in profitability in the 3rd quarter by about 100 million baht. The 4th quarter plant availability is expected to return to normal as there is no other major maintenance scheduled until later 2011
Mr. Esa Heiskanen, the CEO of Glow Group commented: “The operation and performance of the Group have returned to normal and our industrial customer sales volumes have returned to expected levels. Our operating margin has also recovered to normal levels as the Ft remains high and fuel prices have stabilized .”
Mr. Esa continued to add “We are following up very closely on what the impact of the temporary suspension ruling has on our numerous customers in Map Ta Phut, Glow currently has all the necessary permits for our expansions, including the 115 MW coal-fired, 382 MW gas-fired, and 660 MW coal-fired IPP. Our expansions will utilize proven technology to ensure low emissions and will include reduction in emission from our existing plants, where the net result will be an improvement in the overall air quality in Map Ta Phut. We are confident that our projects are environmentally sound and will benefit surrounding communities as the total emission from our existing and new plants would be lower than current levels.
”Glow’s year-to-date interest expenses and corporate income tax have increased from same period last year. The effective tax rate has gradually been increasing year on year, as tax privileges for some of Glow’s older plants are starting to expire. However, the overall effective tax rate for the group will come down after the tax exemption period begins for the expansion projects after commercial operation starting in 2010.
Mr. Suthiwong Kongsiri, the CFO of Glow Group further explained: “The increased interest expenses is not due to higher funding costs but it is reflecting the higher debt level due especially to our strategy to pre-fund some of our funding needs at the beginning of the year, this strategy is aimed at mitigating liquidity risk which has resulted from troubles in global financial market. We now have the necessary funding through to the 2nd quarter of 2010 and are very confident in our ability to secure the remaining funds needed for our expansion projects, thanks to our solid business fundamentals, robust performance and improved market conditions.”
About Glow Energy
Glow Energy is a member of the Glow Group who is a major energy player in Thailand. Glow Group combined installed capacities include 1,860 MW (Glow’s stake is 1,775 MW) of electricity and 967 tons per hour of steam.
Glow Group generate and supply electricity to Electricity Generating Authority of Thailand (EGAT) under Thailand's SPP (Small Power Producer) and IPP (Independent Power Producer) programs, as well as electricity, steam, industrial water and services to large industrial customers principally located in the Map Ta Phut area and nearby.
GDF SUEZ Energy Europe & International is Glow Energy’s major shareholder and is a division of the GDF SUEZ Group, one of the largest international industrial and services groups in the world.
For more information about GDF SUEZ please visit the companies’ website at www.gdfsuez.com.. For more information about the Glow Group please go to www.glow.co.th
Wednesday, November 11, 2009
EC SEEKS COURT RULING ON MANIT SHARE TRADING
The Election Commission will seek a Constitution Court ruling on whether to disqualify Deputy Public Health Minister Manit Nopamornbodi from office for holding shares in companies related to the media or state concessions.
Election Commission secretary-general Suthipol Thaweechaikarn said of 29 MPs the EC had referred for a Constitution Court ruling on whether to disqualify them for holding shares in prohibited businesses, four were ministers: Deputy Transport Minister Kuakul Danchaiwijit, Deputy Interior Minister Boonjong Wongtrairat, Deputy Prime Minister Sanan Kachornprasart and Manit.
The EC panel found that of the four, only Manit held prohibited shares on the day he assumed his ministerial post on December 20 last year. The three others sold the shares before taking up their posts.
Manit held 500 shares in True Corp from December 24, 2002- October 7, 2009 and 4 million shares in TPI Polene from January 21, 2004. He traded some shares 17 times, the latest on December 23 last year.
Suthipol said the EC believed Manit had violated Articles 265 and 267, resulting in disqualification and removal from his ministerial post, in accordance with Article 182 (7).
He denied the EC intended to harass Manit but it needed to check on whether holding prohibited shares should result in him being disqualified as minister.
Manit said he respected the EC's decision but would not resign till the Constitution Court issued its ruling.
He admitted he held 500 True shares, however since there were only a few hundred he did not sell them before assuming the post.
Deputy Prime Minister Suthep Thaugsuban said it would be too soon to decide whether to reshuffle the Cabinet following the EC decision. He said the government would rather wait till the Constitution Court announced its decision.
Election Commission secretary-general Suthipol Thaweechaikarn said of 29 MPs the EC had referred for a Constitution Court ruling on whether to disqualify them for holding shares in prohibited businesses, four were ministers: Deputy Transport Minister Kuakul Danchaiwijit, Deputy Interior Minister Boonjong Wongtrairat, Deputy Prime Minister Sanan Kachornprasart and Manit.
The EC panel found that of the four, only Manit held prohibited shares on the day he assumed his ministerial post on December 20 last year. The three others sold the shares before taking up their posts.
Manit held 500 shares in True Corp from December 24, 2002- October 7, 2009 and 4 million shares in TPI Polene from January 21, 2004. He traded some shares 17 times, the latest on December 23 last year.
Suthipol said the EC believed Manit had violated Articles 265 and 267, resulting in disqualification and removal from his ministerial post, in accordance with Article 182 (7).
He denied the EC intended to harass Manit but it needed to check on whether holding prohibited shares should result in him being disqualified as minister.
Manit said he respected the EC's decision but would not resign till the Constitution Court issued its ruling.
He admitted he held 500 True shares, however since there were only a few hundred he did not sell them before assuming the post.
Deputy Prime Minister Suthep Thaugsuban said it would be too soon to decide whether to reshuffle the Cabinet following the EC decision. He said the government would rather wait till the Constitution Court announced its decision.
NO LINKS YET FOUND BETWEEN SUSPECTS AND STOCK TRADERS
No connections have turned up between the two former and present securities staff arrested for posting provocative information on websites and large stock investors and foreign brokerages.
"After initial investigations, no links were found between the two suspects and the two foreign brokerages: UBS Securities Singapore and Credit Suisse Securities (Hong Kong)," Securities and Exchange Commission (SEC) secretary-general Thirachai Phuvanatnaranubala said yesterday.
The Stock Exchange of Thailand (SET) will continue looking for any relationships among the two suspects' 10 stock-trading clients.
Thiranan Vipuchanan, 43, who has reportedly worked as a securities executive, was arrested at Suvarnabhumi Airport on her return from a trip to Europe. Katha pajajiriyapong, 37, employed by KT Zmico Securities, was arrested in the Silom Road area on Sunday.
Both were charged with violating the Computer Act, which prohibits the dissemination of incorrect information that could threaten national security or alarm the public. Their information was passed around during the SET Index crash from October 14-15.
On October 14, Credit Suisse Securities (Hong Kong) was swamped with Bt3 billion worth of net sales of stock and UBS Securities Singapore with Bt1.3 billion in net sales. Other net sellers were mutual funds and private funds, including an individual Thai investor with Bt218 million in net sales.
The following day, UBS Securities Singapore recorded Bt1.3 billion in net purchases, making it the biggest net buyer. Other net buyers were foreign investors, mutual funds and an individual Thai investor with net buys of Bt145 million, making that investor the ninth-largest net buyer.
Thirachai said the SEC did not find anything unusual about the stock trading of those two large foreign investors or any involvement with the rumour-mongering.
The SEC has handed its report on the stock trades of these investors to the Department of Special Investigation (DSI).
"The DSI has now set up an investigating team, including representatives of the SEC," Thirachai said.
The SEC asked for more information about stock trading from UBS SECURITIES and received further details about trading orders. Thailand's SEC will no longer need to coordinate with Singapore's SEC for more information as planned.
However, the SEC has not yet received complete information regarding stock trading by Credit Suisse Securities (Hong Kong) from October 14-15, Thirachai said.
The SEC will not consider cancelling Katha's marketing licence just becasue he is under investigation by police.
SET chairman Sompol Kiatphaibool said the exchange was checking into possible violations of the SEC Act by the suspects.
"Although there is no record of Thiranan and Katha engaging in stock trading from October 14-15 trading orders have been uncovered that were made by Katha to 10 other investors," he said.
The SET will continue searching for any association between the two suspects and the 10 investors and any gains they may have made from trading on the harmful rumours.
Since Thiranan has been away from the securities industry for a long time, there was no information in the SET database about her trades, Sompol said.
"After initial investigations, no links were found between the two suspects and the two foreign brokerages: UBS Securities Singapore and Credit Suisse Securities (Hong Kong)," Securities and Exchange Commission (SEC) secretary-general Thirachai Phuvanatnaranubala said yesterday.
The Stock Exchange of Thailand (SET) will continue looking for any relationships among the two suspects' 10 stock-trading clients.
Thiranan Vipuchanan, 43, who has reportedly worked as a securities executive, was arrested at Suvarnabhumi Airport on her return from a trip to Europe. Katha pajajiriyapong, 37, employed by KT Zmico Securities, was arrested in the Silom Road area on Sunday.
Both were charged with violating the Computer Act, which prohibits the dissemination of incorrect information that could threaten national security or alarm the public. Their information was passed around during the SET Index crash from October 14-15.
On October 14, Credit Suisse Securities (Hong Kong) was swamped with Bt3 billion worth of net sales of stock and UBS Securities Singapore with Bt1.3 billion in net sales. Other net sellers were mutual funds and private funds, including an individual Thai investor with Bt218 million in net sales.
The following day, UBS Securities Singapore recorded Bt1.3 billion in net purchases, making it the biggest net buyer. Other net buyers were foreign investors, mutual funds and an individual Thai investor with net buys of Bt145 million, making that investor the ninth-largest net buyer.
Thirachai said the SEC did not find anything unusual about the stock trading of those two large foreign investors or any involvement with the rumour-mongering.
The SEC has handed its report on the stock trades of these investors to the Department of Special Investigation (DSI).
"The DSI has now set up an investigating team, including representatives of the SEC," Thirachai said.
The SEC asked for more information about stock trading from UBS SECURITIES and received further details about trading orders. Thailand's SEC will no longer need to coordinate with Singapore's SEC for more information as planned.
However, the SEC has not yet received complete information regarding stock trading by Credit Suisse Securities (Hong Kong) from October 14-15, Thirachai said.
The SEC will not consider cancelling Katha's marketing licence just becasue he is under investigation by police.
SET chairman Sompol Kiatphaibool said the exchange was checking into possible violations of the SEC Act by the suspects.
"Although there is no record of Thiranan and Katha engaging in stock trading from October 14-15 trading orders have been uncovered that were made by Katha to 10 other investors," he said.
The SET will continue searching for any association between the two suspects and the 10 investors and any gains they may have made from trading on the harmful rumours.
Since Thiranan has been away from the securities industry for a long time, there was no information in the SET database about her trades, Sompol said.
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