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.
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.
The environmental case for remote working
Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.
Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI
The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.
The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.(more…)
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