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| • EXCH RATES |
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Baht/$ 33.41/44
Bid/Ask
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GOLD |
14,150
+ 100
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INBrief
INSURANCE :Financially troubled Saha Life Insurance has received approval to continue with its business after it succeed in finding new investors, according to Chantra Purnariksha, the secretary-general of the Office of the Insurance Commission.
Saha Life, a small firm controlled by a group of co-operatives, was taken over last March by a supervisory board set up by the Commerce Ministry. It has already submitted viable business restructuring plan and secured a deal with a new investor, Klongchan Credit Union Cooperative Limited.
Klongchan would hold 53% of the shares in the company's expanded registered capital of 500 million baht.
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India Fair planned
TRADE :The India Trade Promotion Organisation (ITPO) will join with the Indian Embassy to stage the India Fair at Bangkok 2008 from July 24-27 at Impact Arena, Muang Thong Thani.
The event will feature more than 100 major Indian manufacturers of auto parts, electronics and high technology, machinery, fashion, agriculture, life sciences and tourism.
N.K. Sehgal, the ITPO general manager, said India and Thailand were preparing for the expansion of their free trade agreement, which currently covers just 82 product items.
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Ratings cancelled
FINANCE :Tris Rating has cancelled the rating of the five billion baht in guaranteed debentures from Nestle{aac} (Thai) Ltd (NTH) at the company's request as the debt has matured.
Tris Rating has also cancelled the company rating of United Farmer & Industry Co Ltd (UFIC) at the company's request as the rating agreement has expired and the company has no plan to issue debt in the near future.
The NTH issue had been rated AAA/Stable and the company rating assigned to UFIC was BBB+/Stable.
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28-day yield 3.13%
DEBT MARKET :The Bank of Thailand yesterday sold one billion baht in 28-day bills for an average yield of 3.13715% with bid coverage of 4.99 times. Also sold were one billion baht in 91-day bills for an average yield of 3.14318%. with bid coverage of 2.9 times, and one billion baht in 182-day bills for an average yield of 3.29288% with bid coverage of 3.92 times.
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