Sunday December 15, 2019 18:11

Stcoks Press Release : 12 Oct 2018

Photo Release: MOU signing of 4 ASEAN capital market regulators in launching ACMF Pass Project Stcoks—12 Oct 18

4 ASEAN Executives of capital market regulators of Malaysia, Philippines, Singapore, and Thailand signed a Memorandum of Understanding (MOU). The "ACMF Pass Project" allows licensed professionals to provide advisory services within participating ASEAN

Fitch Affirms TASCO at #A-(tha)#/Stable and Withdraws Ratings Stcoks—12 Oct 18

Bangkok--12 Oct--Fitch Ratings

Fitch Ratings (Thailand) Limited has affirmed Tipco Asphalt Public Company Limited's (TASCO) National Long-Term Rating at 'A-(tha)' and its National Short-Term Rating at 'F2(tha)'. The Outlook is Stable. Fitch has simultaneously chosen to withdraw TASCO's ratings for commercial reasons.

KEY RATING DRIVERS

Crude Supply Continuity Risk: Fitch thinks the risk of a disruption in TASCO's crude supply remains high over the next 12-24 months as its refinery in Malaysia is likely to continue relying mainly on crude supply from Venezuela. We believe TASCO will still prefer Venezuelan crude, which the company says offers higher returns, even though it is exploring alternative sources. Fitch has factored in the supply interruption risk by taking a more conservative view on the company's international sales volume and profitability.

The Venezuelan supplier has faced operational and financial difficulties in addition to an international legal dispute, which limit its ability to supply crude oil to its customers. This caused several delays in crude shipments to TASCO, which had a material impact on the company's operating performance in 1H18. Crude supply for TASCO's asphalt refinery was reduced by half of the normal capacity in 1H18 and its international sales volume dropped by 51%. The situation is li

PSP Investments welcomes new investment partners to Forth Ports Stcoks—12 Oct 18

The Public Sector Pension Investment Board ("PSP Investments") is pleased to announce the closing of the Forth Ports Limited transaction. PSP Investments has sold minority stakes in Forth Ports Limited to long-term investment partners, including GLIL