Multibax PCL will be listed on Thailand’s Market for Alternative Investment (mai) on January 29, 2007. At its initial public offering (IPO) during January 18 – 19, the company raised THB 175 million to be used to expand production capacity, purchase new machinery and construct a warehouse.

The firm’s securities will use “MBAX” as their trading symbol, mai President Mr. Chanitr Charnchainarong announced.

MBAX has THB 128 million (USD 3.56 million) paid-up capital, comprised of an existing 93 million common shares and 35 million shares in capital increase, each with a par value of THB 1. During January 18 – 19, the company sold its 35 million capital increase shares to the public at THB 5 per share. Kasikorn Securities PCL acted as MBAX’s financial advisor.

The IPO price of THB 5 reflected a price/earnings (P/E) ratio of 12.24 (calculated by dividing its 12-month net profits average between October 2005 and September 2006 by 128 million shares). This compares favorably with mai’s average P/E on January 11, 2007 of 8.72. MBAX’s dividend payment policy is to pay no less than 40% of its net profit after tax and legal reserves.

MBAX manufactures various kinds of customized plastic bags, e.g., food freezer, zippable, fruit and vegetable, and trash bags. Its products are exported to North America, the European Union, Australia and New Zealand.

The company has two certificates from the Board of Investment (BOI), entitling it to pay tax at 50% of profit for five years from 2006, and an exemption from corporate income tax (for eight years from April 5, 2004) on the profit from its annual production of 30,000 tons. Its shareholders will be not liable for withholding tax on dividends received during the exemption period.

After the IPO, the principal shareholders in the company are Mr. Voraphot Srimahachota, holding 17.20% of paid-up capital, followed by Mr. Anuwat Suthmahatayangkun and Mr. Surachai Atsawakaewmongkhon, who each hold 10.55%.
For more information on MBAX, please visit their corporate website at www.multibax.com , mai’s website at www.mai.or.th , or SETTRADE.Com’s website at www.settrade.com

For more information, please contact the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kulvida Jintakawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797

Everything you ever wanted to know about great design in technology at “Design Insights from Motorola” Monday 5 February 2007 – 19.00 hrs at Bed Supperclub Free entry but limited places. Register now on www.mobyelite.com/momo

This is a unique opportunity to listen to, and question, Mrs Chongruk Sakulpakdee, an influential leading figure in the IT and mobile industry and current Country Manager Mobile Devices at Motorola Thailand. Mrs Chongruk will give a short presentation on the meaning of a ‘no compromise’ approach to design across technology, price points and markets at the next MobileMonday on Monday 5th February 2007 from 19.00 hrs until 20.30 hrs at Bed Supperclub, Sukhumvit Soi 11, Bangkok.

This is a great opportunity to gain top insights from the CMF (colour/material/finish) philosophy, to find out how radical design philosophies can humanize leading-edge technologies and learn from the story of Motorola’s design attitude. Then hear the full story of how MOTORAZR, MOTOSLVR, MOTOPEBL, MOTOKRZR and MOTORIZR’ successes and how they been carried over to other product areas.

Entrance to any MobileMonday event is always free of charge, so places are limited!
To enter the event, advance registration on www.mobyelite.com/momo is the only requirement.
MobileMonday consists of monthly gatherings of mobile professionals – though open to all – on the first Monday of every month. It represents an open society which promotes the mobile industry and fosters cooperation and networking amongst its participants.

For more information, please contact:
Nida and Phenphan
Hill & Knowlton Thailand
Tel. 0-2627-3501 ext. 108 / 112
Fax. 0-2627-3510

Training workshops on how businesses and government can harness the power of satellite communications were conducted this week in the Philippines and Thailand.

Full-day sessions in Bangkok and Manila were hosted by senior executives from Telenor Satellite Services, a subsidiary of Telenor of Norway (Oslo Stock Exchange: TEL and NASDAQ: TELN) and global satellite operator, Inmarsat.

Delegates were shown how businesses can integrate the newest mobile satellite service from Inmarsat – Broadband Global Area Network (BGAN) – into their existing operations to improve the mobility and flexibility of their workforce. It also provided a demonstration of the unique capabilities of BGAN, which offers simultaneous voice and high-speed data communications via a portfolio of small, lightweight user terminals.

The Bangkok workshop was the first stop in the Telenor-Inmarsat BGAN “technology road show” for service partners and communications companies. The two host companies were joined by representatives from more than 15 organizations including telecommunications providers as well as international and regional businesses.

“We had a tremendous response from our Thai delegates, who saw ‘first-hand’ how the advanced technology of BGAN can make a real difference to the way they do business”, said Rodolfo Ramirez, Jr., regional manager for Telenor Satellite Services. “In addition to the hands-on training, we were able to demonstrate how BGAN is uniquely able to provide IP-based voice and data communications that enable industries and organizations to extend business operations to remote locations and to provide essential communications for continuity of operations. At the end of the day we were collecting orders for over 150 SIM cards for potential new users.”

The next stop for the Telenor-Inmarsat BGAN “technology road show” was Manila, where 55 delegates, representing over 30 businesses, government agencies, and non-governmental organizations (NGOs) attended the day-long training sessions and technology demonstrations. According to the event organizers from Telenor Satellite Services and Inmarsat, the participants included a number of representatives from financial organizations – including banks and insurance companies, various government and military organizations, as well as representatives from the medical and health care sectors.

“I think many were surprised at how easily BGAN can be used and integrated within their existing operation. Working with our partner Inmarsat on this ‘technology road show’ is helping us re-enforce the broadband communications capabilities as well as the unrivaled versatility of BGAN”, Ramirez noted.

The robust communications service from Telenor is especially useful for a variety of IP-based applications such as streaming video, video conferencing and Web browsing. The service allows businesses and organizations to extend networks to their remote operations sites. BGAN is the world’s first truly mobile broadband IP service and is the latest addition to the Telenor Portfolio of Broadband, On Demand and Value Added Services.

For more information or photos contact:

Pannawat Khlongnakrob

Spark Communications Co. Ltd.

Tel: +66 2 653 2717 to 9

Email: pan@spark.co.th

About Telenor:

Headquartered in Oslo, Norway, Telenor is an international provider of high quality telecommunications, data and media communication services. Telenor is one of Norway’s largest companies with 2005 revenues of approx NOK 68.9 billion (approximately US$ 10.1billion) and a workforce of 20,900 located in Norway and abroad. Telenor is listed on the Oslo Stock Exchange (TEL) and NASDAQ in New York (TELN).

Telenor Satellite Services is the world’s preferred provider of global communications solutions via satellite for customers on land, at sea, and in flight. Telenor offers an expanded product portfolio of broadband satellite solutions and on-demand services enabling customers to meet their global communications requirements. The company also features an innovative menu of value-added services, including The Source® and My Source™ online account management tools, available exclusively to Telenor Service Providers and their Telenor customers. Telenor Satellite Services owns and operates a worldwide network of teleports and communications facilities located throughout Europe and the United States that offer access to multiple global and regional satellite systems. Telenor Satellite Services Web site is: www.telenor.com/satellite.

Technorati : philippine, satellite, technology, thailand

Highlights for 2006:

• Pre-tax and pre-provisioning profit increased by 21.8 percent
• Net interest margin improved from 2.87 percent in 2005 to 3.13 percent
• Gains on sale of investment rose by Baht 4.2 billion or more than five-fold
• NPLs improved from 10.9 percent in 2005 to 9.2 percent in 2006

Bangkok Bank has reported a pre-tax and pre-provisioning profit of Baht 32.7 billion for the year, an increase of 21.8 percent from 2005. Higher corporate income tax and higher provisioning expenses meant that net profit for the year was Baht 17.9 billion, compared to Baht 20.3 billion in the previous year.

Despite higher expenses, the bank showed improvements in both net interest income and non-interest income, which contributed to better operational results.

Loan growth of 5.1 percent year-on-year was in line with expectations, increasing from Baht 912.0 billion to Baht 958.4 billion at the end of 2006. The bank also achieved reasonable progress in the resolution of non-performing loans which declined from Baht 100.6 billion at the end of 2005 to Baht 89.1 billion at the end of 2006, equivalent to about 9.2 percent of total loans.

The revised minimum loan loss reserves, based on the accelerated requirements of the Bank of Thailand, are estimated to be about Baht 56.7 billion, increasing from Baht 48.1 billion at the end of 2005. While existing reserves are sufficient to meet these new minimum requirements, it is expected that the new regulations will result in greater sensitivity in the level of reserves required against changes in asset quality. The bank has therefore set aside a higher level of provisions this year, totaling Baht 9.9 billion, which brings the total loan loss reserves to Baht 71.5 billion. The coverage ratio has thus improved from 79.1 percent to 80.2 percent of non-performing loans.

Net interest income for the year rose by 10.1 percent, or Baht 4.1 billion, to Baht 44.3 billion. As a result, net interest margins improved to 3.13 percent from 2.87 percent in 2005.

Non-interest income rose by 41.5 percent to Baht 25.0 billion, with gains on sale of investment increasing by Baht 4.2 billion, or more than five-fold, following the sale of certain equity investments. Fee and service income rose by Baht 1.0 billion, or 7.6 percent, due mainly to increases in electronic banking and credit card transactions. Foreign exchange profit also increased by 20.7 percent to Baht 3.6 billion.

Non-interest expenses increased quite significantly by Baht 5.6 billion to Baht 36.7 billion. Excluding the one-time charge of Baht 2.8 billion, relating to the decline in the
value of the assets transferred to the TAMC and the gain on sale of investment of Baht 3.4 billion in 2006, the cost to income ratio fell from 53.7 percent in 2005 to 51.4 percent this year.

The loan-to-deposit ratio was relatively stable at 78.4 percent, with deposits rising year-on-year by 5.6 percent, from Baht 1,156.5 billion to Baht 1,221.7 billion at the end of 2006.

Including the profit for the second half of the year, the total capital adequacy ratio and the tier 1 capital ratio would be approximately 15.5 percent and 12.7 percent, respectively, at the end of 2006.

Shareholders’ equity increased from Baht 139.2 billion at the end of 2005 to Baht 148.3 billion at the end of 2006. Earnings per share were Baht 9.35 compared to Baht 10.64 in the previous year.

Tax returns for prior years were adjusted following clarification by the Revenue Department about the tax deductibility of provisioning expenses. Therefore the bank had a higher amount of tax deductible items in 2006 than originally anticipated, and the increase in the corporate income tax was lower than previously estimated.

For more information please contact:
Bangkok Bank Public Company Limited (Bor. Mor. Jor.111)
333 Silom Road Bangkok 10500 Thailand Tel. (662) 230-2710 Fax. (662) 231-4692

Technorati : bank, investment, news, stock, thailand

On his arrival at Narita airport, Thaksin told reporters that there is no specific purpose for his visit and there were no plans so far for him to meet specific people in Japan.
It is Thaksin’s first visit to Japan since he was overthrown in a bloodless coup on Sept. 19 while he was in the United States. He has been unable to return to Thailand ever since.

Earlier announced that he would retired from Thai politics and would not want to become Thai PM ever again, Thaksin’s moves seem to be too deliberate and has since put a lot of pressure on military-installed government in Thailand.

Technorati : politics, thailand

TPI Polene Thailand’s third largest cement firm, said on Thursday it expected growth in net profit this year, despite analyst forecasts of a fall, due to lower energy costs.

Revenues would be flat or increase slightly, chairman Prachai Leophairatana said in an interview.

Most likely, he simply transfered his stocks in TPIPL to his holding company to manage taxes, as many owners of listed company do in the past years. It however indicates that the stock price in the market is nearing its peak, otherwise there would be no tax leverage.

In any case, I doubt if TPIPL profits will really grow this year. Revenue drop may be even sharper than anyone expect.

TPI Polene is relatively a good company. TPIPL credit rating is amongst the top firms in Thailand, as rated by TRIS.

Technorati : investment, thailand