ADVANC Economic slowdown leads to cut in target — ADVANC slashed its revenue target for the year to 5-6% from 6-8% due to the slowdown in the economy. Its 3Q13 net profit shrank to Bt8.34bn, with 9M13 net profit of Bt27.46bn, growth of only 3.9% YoY. (Khao Hoon, 06/11/13) Comment: Will this dividend behemoth finally […]
Read More →BAY Credit card growth of 15% achievable — BAY expects revenues from credit cards for 2013 to reach its growth target of 15% as consumer spending picks up in 4Q13. Management expects growth for credit cards to double that of GDP growth in 2014. (Tun Hoon, 31/10/13) GLOW 9M13 profit of Bt5.63bn, up 45% YoY […]
Read More →BAY Bangkok Branch of Tokyo-Mitsubishi UFJ takeover approved by BoT — BAY reports that the Bank of Thailand has approved the entire business transfer of the Bank of Tokyo-Mitsubishi UFJ Limited, Bangkok Branch to BAY. This will take place within one year from the date on which Bank of Tokyo-Mitsubishi UFJ becomes a shareholder of […]
Read More →BAY BAY to issue 1.14bn shares to BTMU — BAY will issue 1.14bn shares at Bt39 each via private placement to the Bank of Tokyo-Mitsubishi UFJ (BTMU) under a conditional branch purchase agreement, according to BAY’s filing to the Stock Exchange of Thailand. (The Nation, 19/09/13) Comment: Will need to read more into this, however […]
Read More →BAY deal approved — The Finance Ministry has approved a bid by Japan’s Mitsubishi UFJ Financial Group (MUFG) to buy a 75% stake in Bank of Ayudhya Plc, minister Kittiratt Na Ranong said yesterday. MUFG agreed to buy a controlling stake in BAY for up to ¥560bn (US$5.61bn) as Japanese lenders expand into fast-growing Southeast […]
Read More →BAY bullish on SME loans despite economic slowdown – The Bank of Ayudhya (BAY) maintains its 15% growth target for its small and medium-sized enterprise (SME) loans this year on expectations that the country’s economy will return to normal growth in the next six to 12 months. Thailand’s fifth-largest lender by assets typically sets its […]
Read More →BAY: Consumer unit eyes regional growth. Krungsri Consumer, the personal finance arm of Bank of Ayudhya (BAY), will continue expanding its retail banking business regionally. The move is in line with the business strategy of Bank of Tokyo-Mitsubishi UFJ (BTMU), which will soon become the main shareholder in BAY. The managing director of Krungsri Consumer, […]
Read More →AMATA Amata expands industrial estates as Chinese flock in – Amata Corp, Thailand’s major developer and manager of factory estates, is set to expand its industrial zones to cater to Chinese investors, who are expected to set up 300 to 500 plants in its zones in the next five years. (The Nation, 03/07/13) Comment: Well […]
Read More →ADVANC AIS to bring curtain down on 2G service — ADVANC plans to end 2G mobile service after its concession expires in 2015, say executive chairman Somprasong. (Bangkok Post, 24/06/13) Comment: Welcome to the world of tomorrow! Mitsubishi: In talks to buy BAY. Japanese Mitsubishi UFJ is reported to be in the final stages of […]
Read More →BAY BAY opens Laos venture — Krungsri Consumer, an unsecured loan lender under BAY, plans to commence its auto and personal loan joint venture in Laos in July. BAY’s two financial arms – Krungsri Consumer and Ahudhya Ca;pital Auto Lease (Krungsri Auto) – each own 35% of Krungsri Financial Service (Laos), with the balance held […]
Read More →