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Malaysia’s CIMB to Seek Dual Listing in Thailand

CIMB Group Holdings Bhd, a Kuala Lumpur-based banking group, becomes the first foreign company to seek a dual listing on the Stock Exchange of Thailand. CIMB Group Holdings Bhd., Malaysia’s second-largest bank, will be the first company to take advantage of new rules allowing overseas listings on Thailand’s exchange. CIMB plans to sell as many as 35 million shares to the public in the listing, according to a joint statement by the company and the Stock Exchange of Thailand today. CIMB, listed in Malaysia with a market value of $13.7 billion, would be the largest financial services group and among the top three companies on the Thai bourse.

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CIMB Group Holdings Bhd, a Kuala Lumpur-based banking group, becomes the first foreign company to seek a dual listing on the Stock Exchange of Thailand.  CIMB Group Holdings Bhd., Malaysia’s second-largest bank, will be the first company to take advantage of new rules allowing overseas listings on Thailand’s exchange. CIMB plans to sell as many as 35 million shares to the public in the listing, according to a joint statement by the company and the Stock Exchange of Thailand today. CIMB, listed in Malaysia with a market value of $13.7 billion, would be the largest financial services group and among the top three companies on the Thai bourse.

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CIMB seeks dual listing in Thailand

Recent Trade Reforms in Thailand

A steep fall in exports caused by the global trade slump drove down industrial production and investment in the frst half of 2009. Business and consumer sentiment was further undermined by political tensions. Although there were signs the worst had passed by midyear, the economy is expected to contract by more than was projected in March. Modest growth is seen resuming in 2010. The tempo of recovery will depend in large part on the Government fully implementing two fscal packages, including a new public investment program. Those plans would be at risk if political disruptions recur. The consumer price index is now forecast to decline this year, before low-level infation returns next year.

CIMB seeks dual listing in Thailand

CIMB seeks dual listing in Thailand

Regulations and bureaucratic procedures that firms have reported as severely affecting their businesses and investment decisions were mainly on delays in tax refunds, uncertainties around the time taken to clear customs or obtain permits and certifications, and uncertainties around regulatory policies. The delays in tax refunds referred to both value-added tax refunds and import tax refunds for exporters. The Revenue Department and Customs Department have been introducing programs and employed internet-based services to reduce the time taken to do so. However, few firms have participated in these programs or have benefited from the services. On the other hand, the average number of days needed to clear import customs or obtain permits is not exceptionally high in Thailand compared to other countries.

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Covid-19 puts flexible space markets under strain

In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.

Daniel Lorenzzo

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The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

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Thailand’s automotive sector expected to produce 1.4m cars this year

This increase in output is a result of the recovery of domestic and export markets, with the annual output for 2021 expected to be around 1.4 million.

National News Bureau of Thailand

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Thailand Automotive Institute (TAI) anticipates the overall output from Thailand’s automotive sector this year to be around 1.4 million cars. They are, however, still cautious over automobile exports until at least March this year, due to the resurgence of COVID-19 cases around the world.

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Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam

The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.

Pr News

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Asset World Corporation (AWC) has launched the region’s largest wholesale hub in the Pratunam area of Bangkok, housed in the old Pantip Plaza tech mall.

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