Prayut set on repairing cancelled Dawei contract
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published : 20 Jan 2021 at 07:00
19 Italian Thai Development received a notice of termination for seven concession agreements from the Dawei Special Economic Zone Management Committee.
Thailand remains committed to the Dawei development project, despite a recent setback on SET-listed Italian Thai Development s (ITD) concession termination, says Prime Minister Prayut Chan-o-cha.
On Friday, ITD submitted a request for the government s help to the prime minister after the Dawei Special Economic Zone Management Committee (DSEZ MC) sent a notice of termination for seven concession agreements at the Dawei special economic zone (DSEZ) to five project companies, in which ITD had partial ownership.
Digital asset trade imminent
published : 20 Jan 2021 at 04:02
2 The digital asset marketplace is expected to grow faster than the stock market as it emerges in the 4.0 era. photo by 123RF
The Stock Exchange of Thailand (SET) will launch a digital asset trading platform in the second half of this year to allow trading on all types of digital token assets excluding cryptocurrencies.
The SET says cryptocurrencies do not meet its product qualifications and could facilitate money laundering, while causing harm to the bourse s image as a high trust exchange.
SET executive vice-president Kitti Sutthiatthasil said the digital asset platform will be similar to other popular e-commerce marketplaces such as Amazon, Lazada or Shopee, but all products on SET s platform will be digital token assets.
TRIS Rating affirms the company rating on Gulf Energy Development PLC (GULF) at ?A?. At the same time, we affirm the ratings on GULF?s senior unsecured debentures at ?A-?. The rating outlook remains ?stable?. The issue ratings? one notch below the company rating reflects the structural subordination of the claims under the debentures, due to GULF?s status as a holding company, compared with the debt obligations of the company?s operating subsidiaries.
The ratings reflect the company?s position as one of the leading power producers in Thailand, its well-diversified portfolio, predictable cash flows from its long-term power purchase agreement (PPA) with the Electricity Generating Authority of Thailand (EGAT, rated ?AAA/Stable? by TRIS Rating), as well as proven record of developing and operating power plants. In contrast, the ratings are constrained by risks associated with the company?s overseas expansion and a rise in its debt load. The recent capital increase helped reduce leverage
Gulf banks on Vietnam investment
published : 15 Jan 2021 at 04:00
Gulf Energy Development Plc, Thailand s top private power producer by capacity, plans to rack up more revenue this year through its investment expansion in Vietnam by acquiring 70.5% of ordinary shares in Global Mind Investment Management Pte (GMIM) in a deal worth US$40 million, or 1.2 billion baht.
The stock purchase from Nech Opportunities Fund VCC is made through Gulf s wholly-owned Kolpos Pte, which was incorporated in Singapore but runs businesses in Vietnam, Gulf said in a letter to the Stock Exchange of Thailand yesterday. We expect the asset transfer and payment to be completed by the end of January, said Gulf executive and chief financial officer Yupapin Wangviwat.