PTT to review retail prices

Senior executive vice president Chaivat Churitti yesterday said the decision depended on the prices of Dubai crude and refined oil in Singapore.

PTT said it racked up about Bt4.5 billion in losses from its retail oil business last year, through delays in raising its prices. Chaivat expects this year's losses to be about the same.

Indian arrival

Bombay, India-based AurionPro Solutions has set up operations in Thailand aimed at capturing part of the growing market for banking and financial services.

Krishan Grover, AurionPro's global sales director and Southeast Asian business head, said the Indian company's technology product and information-technology solutions would encourage the operation of financial supply-chain management, treasury, anti-money laundering and risk-management products.

Tris approved

The Bank of Thailand (BOT) has recognised Tris Rating as an external credit-assessment institution under the terms of the Basel II accord.

The decision means financial institutions can use the firm's ratings to determine the risk weight of loans provided to rated borrowers. These risk-weighted assets will be used to calculate the minimum capital requirements under the standardised approach, which will be implemented by the central bank this year.

Tris Rating president Warapatr Todhanakasem said the BOT had approved Tris because the company qualified in each of the six eligible criteria: objectivity, independence, international access/transparency, disclosure, resources and credibility.

The bank will start applying the capital requirements set out under Basel II for all financial institutions this year. In the determination of the risk weights of their loans under the standardised approach, the institutions may use only ratings from recognised rating agencies as a base for the determination of the risk weights. 

 The Nation