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Fitch gives TMB the thumbs up

Fitch Ratings (Thailand) late last week affirmed the national fund ratings of TMB Treasury Money Fund at AAA(tha)/V1+(tha).

Published on December 24, 2007

The ratings reflect the fund's highest standards for credit quality, its conservative investment policies and the safety of its principal relative to other bond funds in Thailand in terms of portfolio assets, diversification, investment management and operational capabilities, Fitch said.

Muang Thai 'solid'

Standard and Poor's Rating Services said today it affirmed its BBB+ rating on Muang Thai Life Assurance as its outlook was stable.

"The rating on Muang Thai Life reflects the company's solid and fast-growing business profile in Thailand's life-insurance industry and its strong profitability and supportive capitalisation," said S&P credit analyst Paul Clarkson.

"The ratings are also supported by the technical assistance provided by the minority shareholder Fortis group," he said.

The group's main insurance entities, Fortis Insurance Belgium, Fortis ASR Levensverzekering and Fortis ASR Schadeverzekering,

are all rated AA-/Stable).

Boost for the border

Malaysia plans to help Thailand upgrade the standard of living of border communities.

The state news agency Bernama said Malaysia would draw up development programmes.

Prime Minister Abdullah Badawi said that following a request from Thailand the government was looking at details of programmes for implementation in northern Kelantan, especially Jeli, and in southern Thailand, particularly Narathiwat.

"It is also the wish expressed by the Thai government, which wants to see development in southern Thailand, especially skills and human capital development," he said, adding: "We have come up with several plans for socio-economic development, and when completed we will discuss them again with the Thai government [to see] which are beneficial to both countries."

Flight to the sun

The first charter flight from the Estonian capital Tallinn to Phuket touched down on December 9.

At 8pm 220 Finnish and Estonian tourists arrived aboard a Boeing 757-200 of Air Finland.

They were welcomed by Phuket International Airport deputy director Yutthana Jitrob-aree and staff from the Tourism Authority of Thailand, including local director Suwalai Pinpradub.

Air Finland will operate six Tallinn-Phuket flights a week as part of an initiative to promote Phuket and the Andaman region as a holiday destination for people in the Baltic region. - Phuket Gazette

Investment in VN up

Vietnam has attracted US$20.3 billion (Bt675 billion) in foreign direct investment (FDI) this year, according to the head of the Foreign Investment Department of the Ministry of Planning and Investment, Phan Huu Thang.

This is the largest amount of FDI since the country passed its Foreign Investment Law in 1988.

Thang's announcement followed government approval this month of a series of billion-dollar projects, including three in Hanoi, Bac Ninh and Ha Long.

In Hanoi, Gamuda Berhad, Malaysia's largest real-estate and infrastructure-development group, is set to build the $2-billion Yen So Park.

The complex will include a convention centre, commercial facilities, a five-star hotel, residential units and parkland on 327 hectares around Yen So Lake in the south of the city.

It will be Asia's largest urban park, said Lin Yun Ling, managing director of the Gamuda Berhad Group.

A new township and industrial park in the northern province of

Bac Ninh has also been approved and is expected to lure 200 investors with total capital of $2 billion, creating 40,000 jobs. - Viet Nam News, Asia News Network


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