Money and Banking magazine organizes Money Expo 2010 with special theme “The Road to Wealth” to celebrate its 10th year anniversary and support Thailand economic recovery to distribute wealth to all Thais. The first event, bringing great wealth to Eastern Seaboard, is Money Expo PATTAYA 2010.
Mr.Santi Viriyarangsarit, Money and Banking magazine editor and president of Money Expo 2010 announces that “after its 9 successful years in 2009 with total 5,185,500 visitors and transactions value of 646,000 million baht, Money Expo 2010 will celebrate its 10th anniversary in 2010 in 4 regions in the country with the theme “The Road to Wealth”.
Money Expo brings together best investments and finance offers from nation’s leading commercial banks, financial institutions, along with varied life insurance options available in the market so that retail customers and SMEs can access directly to “funding source” and “Investment Choices”. At the same time, opportunities are opened for Bank and financial institute to expand both retail and SMEs base.
The first Money Expo 2010 The Road to Wealth, the roadmap to achieve wealth for all Thais, will be held in Pattaya of Chonburi province with title “Money Expo Pattaya 2010” during 5-7 February 2010 at PEACH, Royal Cliff Beach Resort Hotel where 22 organizations, including commercial banks, financial institutions together with leading organization from private sector and government agencies will participate.
These organizations will roll out golden promotions for their quality products and services, ranging from low-interest lending rate, special mortgage rate, auto loan, education loan, SMEs loan, credit card, cash card to attractive deposit rates. The best conditions will be offered for investment in stock market, bonds, derivatives, life insurance. Meanwhile, investment guidance and consultancy services will also be provided to those interested. Moreover, liveStage performances from leading superstars are scheduled to entertain visitors.
Commercial banks participate in Money Expo PATTAYA 2010 are Krung Thai Bank Pcl. , Bangkok Bank Pcl. , Kasikorn Bank Pcl. , Siam Commercial Bank Pcl. , Bank of Ayudhya Pcl. , TMB Bank Pcl. , The Siam City Bank Pcl. , CIMB Thai Bank Pcl. , The Thai Credit Retail Bank Pcl. , Commercial banks participate Government Housing Bank , Islamic Bank of Thailand , Muang Thai Life Assurance Co. Ltd. , Ayudhya Capital Auto Lease Plc. , AEON Thana Sinsap (Thailand) Pcl. , Asia Forestry Management Co., Ltd. , Profitable Group , Bank of Thailand , The Revenue Department , The Stock Exchange of Thailand , Securities and Exchange Commission , Office of Insurance Commission and The Agriculture Futures Exchange of Thailand
Chonburi province is the economic, commercial and tourism center of the East given purchasing power of 1.2 million population. At the end of 2008, Gross Provincial Product (GPP) stood at 492,051 million baht, rose by 38,165 million baht from end 2007, while GDP per Capita was 416,003 baht, increase by 27,829 million baht from the end of 2007.
As of September 30, 2009, Chonburi shelters 280 of Banks’ branches. All of which provided 153,324 million baht net credits and raised 191,457 million baht net deposits. From January to October 2009, there are 35 projects applied for investment privileges from BOI.
In addition, there are positive signs of economic recovery given the revised 2010 GDP growth forecast to 3.3 to 5.3% from previous 3.0 to 3.5% by the The Bank of Thailand.
“All indicators show that there are strong demand for loans in Chonburi and the whole Eastern region and consumers still look for better yields in deposits and investment. I’m confident that Money Expo PATTAYA 2010 will again succeed as highly as the first Money Expo PATTAYA held during 6-8 February 2009 that has attracted 45,000 visitors and generated 19,213.68 million baht worth of transactions” Mr.Santi said.
Three other Money Expo 2010
Central - Money Expo 2010 at Queen Sirikit National Convention Center, 6-9 May 2010
North Eastern - Money Expo KORAT 2010 at MCC Hall, The Mall Korat, 8-10 October 2010
North - Money Expo Chiangmai 2010 at Chiangmai University Convention Center, 12-14 November 2010
Wednesday, December 16, 2009
New Generation Trading System for China Foreign Exchange Trade System (CFETS) goes live nationwide
Tata Consultancy Services, the leading IT services, business solutions and outsourcing firm today announced that the Reminbi currency trading platform for the Chinese inter-bank market, an initiative of China Foreign Exchange Trade System (CFETS), a subsidiary of People’s Bank of China (PBoC) has successfully gone live nationwide. The New Generation CNY Trading System (NGCNYTS) is a forward-looking trading system, which aims to incorporate the future vision of the Chinese Interbank market and relevant international best practices. It is designed to meet the fast growing requirements of the Chinese financial market with efficient risk management and real time monitoring systems. It supports multiple trading methods, including special features for market makers.
NGCNYTS is a next generation system providing unified platform across Debt, Money and Derivative Markets. NGCNYTS gained national importance, as it is the primary trading platform for all financial institutions such as Commercial Banks, Pension, Trust & Mutual Fund, Securities firms and Insurance companies in China.
Speaking on the successful implementation of this landmark project, Girija Pande, Executive Vice President and Head, TCS Asia Pacific, said, “We are extremely pleased to successfully deliver the CFETS project built based on our experience in other global markets and in close cooperation with CFETS who have experience in Chinese domestic market. It also provides flexibility to connect with third party front ends and other external interfaces. Deploying in ten markets at a time is a unique challenge which TCS could complete successfully.”
“The project is among the most prestigious venture of TCS in the APAC region, involving a highly dedicated multi-cultural team of over 130 associates spanning a period of more than 2 years. The team will be maintaining the system going forward and enhancing the system for additional markets,” he further added.
TCS’ trading solution at CFETS is scalable and can handle rapid growth in volumes with ease. Due to its scalable and configurable architecture, it also simplifies the addition of multiple financial products thus reducing the overall time to market.
Besides CFETS, TCS has successfully delivered the mission critical trading systems for the National Stock Exchange of India Limited, India, National Commodity and Derivatives Exchange, India and Clearing Corporation of India Limited (CCIL). TCS is also the chosen strategic partner involved in maintaining the trading applications at Deutsche Boerse AG, Germany.
TCS pioneered the entry of Indian IT industry in China in 2002 and remains at the forefront of that thrust with 1100 consultants in China and four Global delivery Centres (Beijing, Shanghai, Tianjin& Hangzhou). In 2005, TCS was invited by Chinese Government to form a Joint Venture to create a large scale global sourcing base in China. TCS China is serving over 30 Global and domestic clients like Eaton, Motorola, Cummins, China Foreign Exchange Trade System (CFETS), Guangdong Provincial Rural Credit Cooperative Union (GDRCC), China Trust Bank, Hua Xia Bank.
NGCNYTS is a next generation system providing unified platform across Debt, Money and Derivative Markets. NGCNYTS gained national importance, as it is the primary trading platform for all financial institutions such as Commercial Banks, Pension, Trust & Mutual Fund, Securities firms and Insurance companies in China.
Speaking on the successful implementation of this landmark project, Girija Pande, Executive Vice President and Head, TCS Asia Pacific, said, “We are extremely pleased to successfully deliver the CFETS project built based on our experience in other global markets and in close cooperation with CFETS who have experience in Chinese domestic market. It also provides flexibility to connect with third party front ends and other external interfaces. Deploying in ten markets at a time is a unique challenge which TCS could complete successfully.”
“The project is among the most prestigious venture of TCS in the APAC region, involving a highly dedicated multi-cultural team of over 130 associates spanning a period of more than 2 years. The team will be maintaining the system going forward and enhancing the system for additional markets,” he further added.
TCS’ trading solution at CFETS is scalable and can handle rapid growth in volumes with ease. Due to its scalable and configurable architecture, it also simplifies the addition of multiple financial products thus reducing the overall time to market.
Besides CFETS, TCS has successfully delivered the mission critical trading systems for the National Stock Exchange of India Limited, India, National Commodity and Derivatives Exchange, India and Clearing Corporation of India Limited (CCIL). TCS is also the chosen strategic partner involved in maintaining the trading applications at Deutsche Boerse AG, Germany.
TCS pioneered the entry of Indian IT industry in China in 2002 and remains at the forefront of that thrust with 1100 consultants in China and four Global delivery Centres (Beijing, Shanghai, Tianjin& Hangzhou). In 2005, TCS was invited by Chinese Government to form a Joint Venture to create a large scale global sourcing base in China. TCS China is serving over 30 Global and domestic clients like Eaton, Motorola, Cummins, China Foreign Exchange Trade System (CFETS), Guangdong Provincial Rural Credit Cooperative Union (GDRCC), China Trust Bank, Hua Xia Bank.
Euroclear Bank to automate syndicated loan settlement
Euroclear Bank announces the industry’s first and only multi-currency, delivery-versus-payment (DvP) settlement service for secondary market trades in syndicated loans. Launch of the new LoanReach feature will take place in the first quarter of 2010. The new, automated DvP settlement service fills a major efficiency gap in the syndicated loan business, reducing costs and risks for secondary market loan trading. DvP settlement means that the cash and loan components of the trade will be exchanged simultaneously, unlike today where movements of loan positions and cash occur manually and asynchronously. DvP settlement is the industry standard for trades in most other asset classes, such as equities and bonds.
Euroclear Bank’s extended LoanReach service will eliminate most of the credit and settlement risks, and substantially reduce the counterparty risks, associated with the settlement of syndicated loans.
Furthermore, Euroclear Bank’s initiative aims to significantly shorten the length of the settlement cycle. Today, syndicated loan transactions settle on a T+20-25 basis. Euroclear Bank’s service targets the benchmarks set by the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) of T+10 and T+7, respectively, for conventional trades. Shorter settlement cycles will reduce counterparty default risk and increase liquidity.
Jurgen De Weghe, Director, LoanReach Product Management, said: “We are proud to deliver the benefits of automation and standardisation to syndicated loan investors. In close collaboration with agent banks, the introduction of multi-currency trade matching and DvP settlement is critical in this cost- and risk-conscious environment. Euroclear Bank’s LoanReach service is the most comprehensive in the market, with more features, such as E-messaging and collateral management, to come in the near future.”
"We strongly support the development of market platforms for syndicated loans,” said Martin Lelong, Project Director at Société Générale Corporate & Investment Banking (SGCIB). “We are particularly interested by Euroclear’s announcement, as their service offer fits very well with the specificities of the European market, which is of key importance to us: a tool working seamlessly and with all major currencies from trade matching to final settlement. We are convinced that these types of solutions will bring operational risk reductions, increased liquidity and productivity gains to the whole sector."
LoanReach was launched in June 2008, offering a service to allocate unique identification codes for syndicated loans, a centralised loan database, as well as agent and lender portfolio reporting systems.
With the launch of its second phase in September 2008, LoanReach introduced a portfolio reconciliation service enabling lenders to reduce their operational workload by reconciling their portfolios against balances uploaded by their agents in the centralised loan database maintained by Euroclear Bank. This service feature significantly reduces the number of reconciliation failures between agents and lenders, resulting in more efficient and accurate processing of cash-related operations, such as interest payments.
Euroclear Bank’s extended LoanReach service will eliminate most of the credit and settlement risks, and substantially reduce the counterparty risks, associated with the settlement of syndicated loans.
Furthermore, Euroclear Bank’s initiative aims to significantly shorten the length of the settlement cycle. Today, syndicated loan transactions settle on a T+20-25 basis. Euroclear Bank’s service targets the benchmarks set by the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) of T+10 and T+7, respectively, for conventional trades. Shorter settlement cycles will reduce counterparty default risk and increase liquidity.
Jurgen De Weghe, Director, LoanReach Product Management, said: “We are proud to deliver the benefits of automation and standardisation to syndicated loan investors. In close collaboration with agent banks, the introduction of multi-currency trade matching and DvP settlement is critical in this cost- and risk-conscious environment. Euroclear Bank’s LoanReach service is the most comprehensive in the market, with more features, such as E-messaging and collateral management, to come in the near future.”
"We strongly support the development of market platforms for syndicated loans,” said Martin Lelong, Project Director at Société Générale Corporate & Investment Banking (SGCIB). “We are particularly interested by Euroclear’s announcement, as their service offer fits very well with the specificities of the European market, which is of key importance to us: a tool working seamlessly and with all major currencies from trade matching to final settlement. We are convinced that these types of solutions will bring operational risk reductions, increased liquidity and productivity gains to the whole sector."
LoanReach was launched in June 2008, offering a service to allocate unique identification codes for syndicated loans, a centralised loan database, as well as agent and lender portfolio reporting systems.
With the launch of its second phase in September 2008, LoanReach introduced a portfolio reconciliation service enabling lenders to reduce their operational workload by reconciling their portfolios against balances uploaded by their agents in the centralised loan database maintained by Euroclear Bank. This service feature significantly reduces the number of reconciliation failures between agents and lenders, resulting in more efficient and accurate processing of cash-related operations, such as interest payments.
Tuesday, December 15, 2009
Citi mandated to raise first syndicated SME financing for a microfinance institution
Citibank, N.A., Dhaka Branch today announced that it has been mandated for the country’s maiden syndicated facility of up to BDT 2 billion (US$29 million) to provide financing for small and medium enterprises (SMEs). This local currency facility will be for BURO Bangladesh, a leading microfinance institution and SME-financing NGO (non-government organization) in Bangladesh. The facility will be utilized by BURO to make credit available to SMEs, especially in rural and semi urban areas. SME financing is a priority area for Citi in Bangladesh and Citi is committed to further participating in the development of the sector.
“This Citi-led initiative is aligned with the Bangladesh Bank’s [the Central Bank of Bangladesh] objective to promote the development of the SME market. We are honoured to have this opportunity to support BURO. Once closed, this deal will provide long-term, local-currency solutions to BURO for the expansion of its SME portfolio,” said Mamun Rashid, Citi Country Officer Bangladesh. The transaction is expected to close in the first quarter of 2010.
This transaction is a follow-on to a recent transaction where Citi Bangladesh successfully closed the country’s first ever syndicated agricultural term facility of BDT1.5 billion (or US$21.7 million) to BURO Bangladesh, to support its expansion of micro-lending to the agriculture sector.
“We'll expedite our SME financing programs across the country using such funds," said Zakir Hossain, Executive Director of BURO, adding that the agency is now running their SME programs in four divisions including Dhaka.
Established in 1990, BURO Bangladesh serves more than 700,000 customers, of which more than 99% are women. BURO has a presence in 51 districts of Bangladesh through over 400 branches. As part of its 2009-2013 expansion program, BURO has plans to open 215 new branches covering 1.65 million total customers.
“This Citi-led initiative is aligned with the Bangladesh Bank’s [the Central Bank of Bangladesh] objective to promote the development of the SME market. We are honoured to have this opportunity to support BURO. Once closed, this deal will provide long-term, local-currency solutions to BURO for the expansion of its SME portfolio,” said Mamun Rashid, Citi Country Officer Bangladesh. The transaction is expected to close in the first quarter of 2010.
This transaction is a follow-on to a recent transaction where Citi Bangladesh successfully closed the country’s first ever syndicated agricultural term facility of BDT1.5 billion (or US$21.7 million) to BURO Bangladesh, to support its expansion of micro-lending to the agriculture sector.
“We'll expedite our SME financing programs across the country using such funds," said Zakir Hossain, Executive Director of BURO, adding that the agency is now running their SME programs in four divisions including Dhaka.
Established in 1990, BURO Bangladesh serves more than 700,000 customers, of which more than 99% are women. BURO has a presence in 51 districts of Bangladesh through over 400 branches. As part of its 2009-2013 expansion program, BURO has plans to open 215 new branches covering 1.65 million total customers.
Thai SMBs Take the ‘Hero’ Approach to Running Their Business
PayPal survey reveals that Thai SMBs rank creativity and imagination as top start-up skills
Thailand, 14 December 2009 – According to a regional PayPal study released today, when it comes to the way Thai SMBs conduct business, more than a fifth (21 percent) liken themselves to ‘heroes’ – committed to meeting any challenge before them and leading their business through all types of conditions.
Keys to success
Over a third (32 percent) of Thai SMBs consider creativity and imagination as the most important skill when starting your own company, followed by self-confidence (30 percent) and industry expertise (30 (percent).
The Internet is also playing an increasingly important role in the success of Thai SMBs, with over a third (37 percent) of annual turnover derived from online sales, equating to US $182,000. Global reach, additional sales revenues and staying ahead of the times were cited as the top three drivers for going online. Currently, 66 percent of Indian SMBs have a company website and 52 percent are engaging in e-commerce activities such as offering online orders (89 percent), online payment (56 percent) and online delivery (9 percent).
Potential roadblocks
Almost three quarters (73 percent) of the SMBs surveyed in Thailand intend to grow their business steadily in the next two to three years. However, they are encountering some challenges in meeting their goal. Forty-seven percent are concerned about surviving the current global downturn, 43 percent are facing increasing competition in their industry and 37 percent are having trouble building an online business.
Thai SMBs see e-commerce as one way to overcome those roadblocks and believe it will provide an additional avenue for more sales (71 percent), help them to increase global reach (53 percent) and keep up with the times (51 percent).
The future looks bright
The average annual sales turnover for SMBs in Thailand is currently US$492,200 and the majority of Thai SMBs (80 percent) are either very or quite optimistic about business growth in the next 12 months, with more than 2 in 5 looking at up to 20 percent growth. With over 1.6 billion Internet users worldwide, it is clear that e-commerce will play a very important role in Indian SMBs achieving that growth.
“Our research shows that Thai SMBs clearly recognise the value of ecommerce with the highest proportion (over 50 percent) across the four countries surveyed already engaged in ecommerce activities,” said Mario Shiliashki, General Manager of PayPal Southeast Asia and India. “Convenience, security and minimal set-up costs will help Thai SMBs to overcome their current roadblocks and satisfy their desire to grow internationally and drive additional sales revenues. With over eleven years of experience connecting buyers and sellers across the globe, we offer merchants a cost-effective, convenient and secure way to get started online and grow their business. Plus, research has shown that SMBs can receive an average sales increase of 14 percent when they add PayPal to their site. ”
About PayPal
PayPal is the faster, safer way to pay and get paid online. The service allows members to send and receive payments without disclosing financial information, with the flexibility to pay or get paid using a variety of secure payment options, including account balances, bank accounts (in approved countries), credit cards or promotional financing. With more than 78 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce.
In the U.S., PayPal is the most preferred payment service on the Web after Visa. In the UK and Australia, PayPal is the most preferred payment service on the Web .
PayPal’s Total Payment Volume, the total value of transactions in 2008 represented nearly 9 percent of global e-commerce .
PayPal is headquartered in San Jose, California. Its international headquarters (PayPal Pte. Ltd.) is located in Singapore.
PayPal is an eBay company. More information about the company can be found at www.paypal.com
Consumer advisory - PayPal Pte. Ltd., the holder of PayPal's stored value facility, does not require the approval of the Monetary Authority of Singapore. Users are advised to read the terms and conditions available at www.paypal.com carefully before use.
About the survey
The PayPal survey was conducted by BlackBox in August and September 2009 in India, Singapore, Malaysia, and Thailand. In each country, 300 small-medium businesses (SMB) with 5 to 50 staff and either an existing ecommerce site or plans to implement one in the next 12 months were surveyed. Respondents were either SMB owners, decision-makers or managers with financial authority or influence.
Thailand, 14 December 2009 – According to a regional PayPal study released today, when it comes to the way Thai SMBs conduct business, more than a fifth (21 percent) liken themselves to ‘heroes’ – committed to meeting any challenge before them and leading their business through all types of conditions.
Keys to success
Over a third (32 percent) of Thai SMBs consider creativity and imagination as the most important skill when starting your own company, followed by self-confidence (30 percent) and industry expertise (30 (percent).
The Internet is also playing an increasingly important role in the success of Thai SMBs, with over a third (37 percent) of annual turnover derived from online sales, equating to US $182,000. Global reach, additional sales revenues and staying ahead of the times were cited as the top three drivers for going online. Currently, 66 percent of Indian SMBs have a company website and 52 percent are engaging in e-commerce activities such as offering online orders (89 percent), online payment (56 percent) and online delivery (9 percent).
Potential roadblocks
Almost three quarters (73 percent) of the SMBs surveyed in Thailand intend to grow their business steadily in the next two to three years. However, they are encountering some challenges in meeting their goal. Forty-seven percent are concerned about surviving the current global downturn, 43 percent are facing increasing competition in their industry and 37 percent are having trouble building an online business.
Thai SMBs see e-commerce as one way to overcome those roadblocks and believe it will provide an additional avenue for more sales (71 percent), help them to increase global reach (53 percent) and keep up with the times (51 percent).
The future looks bright
The average annual sales turnover for SMBs in Thailand is currently US$492,200 and the majority of Thai SMBs (80 percent) are either very or quite optimistic about business growth in the next 12 months, with more than 2 in 5 looking at up to 20 percent growth. With over 1.6 billion Internet users worldwide, it is clear that e-commerce will play a very important role in Indian SMBs achieving that growth.
“Our research shows that Thai SMBs clearly recognise the value of ecommerce with the highest proportion (over 50 percent) across the four countries surveyed already engaged in ecommerce activities,” said Mario Shiliashki, General Manager of PayPal Southeast Asia and India. “Convenience, security and minimal set-up costs will help Thai SMBs to overcome their current roadblocks and satisfy their desire to grow internationally and drive additional sales revenues. With over eleven years of experience connecting buyers and sellers across the globe, we offer merchants a cost-effective, convenient and secure way to get started online and grow their business. Plus, research has shown that SMBs can receive an average sales increase of 14 percent when they add PayPal to their site. ”
About PayPal
PayPal is the faster, safer way to pay and get paid online. The service allows members to send and receive payments without disclosing financial information, with the flexibility to pay or get paid using a variety of secure payment options, including account balances, bank accounts (in approved countries), credit cards or promotional financing. With more than 78 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce.
In the U.S., PayPal is the most preferred payment service on the Web after Visa. In the UK and Australia, PayPal is the most preferred payment service on the Web .
PayPal’s Total Payment Volume, the total value of transactions in 2008 represented nearly 9 percent of global e-commerce .
PayPal is headquartered in San Jose, California. Its international headquarters (PayPal Pte. Ltd.) is located in Singapore.
PayPal is an eBay company. More information about the company can be found at www.paypal.com
Consumer advisory - PayPal Pte. Ltd., the holder of PayPal's stored value facility, does not require the approval of the Monetary Authority of Singapore. Users are advised to read the terms and conditions available at www.paypal.com carefully before use.
About the survey
The PayPal survey was conducted by BlackBox in August and September 2009 in India, Singapore, Malaysia, and Thailand. In each country, 300 small-medium businesses (SMB) with 5 to 50 staff and either an existing ecommerce site or plans to implement one in the next 12 months were surveyed. Respondents were either SMB owners, decision-makers or managers with financial authority or influence.
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