Thai

The airline announced on Friday that its Bangkok-Da Lat-Bangkok flights will be increased to daily services from April 9, from the previous five flights a week, and its Bangkok-Da Nang-Bangkok flights will be increased to three from two daily from April 12. All Thai Vietjet flights take off from Suvarnabhumi International Airport.

In a move to further promote the two destinations, Thai Vietjet will also offer one-way tickets from Bt160 (excluding tax and surcharges) for bookings from March 23 to 31 for travel from April 1 to 30.

WHA is Thailand’s leading developer of industrial estates and fully integrated logistics.

The ratings also take into consideration WHAUP’s position as a sole utility service provider in a number of large industrial estates in Thailand and neighbouring countries, with a strong financial profile and a recurring income from its investments in the power segment.

In 2018, WHAUP generated revenues of Bt1,871 million (22 per cent of WHA’s total revenues) and Bt1,279 million in earnings before interest, tax, depreciation and amortisation or EBITDA at 30 per cent of WHA’s EBITDA.

The company said in a press release on Friday that the notes will be issued under ICBCTL’s Bt30 billion medium-term note programme, which Fitch affirmed at ‘AAA/F1+’ on September 10, 2018.

The proceeds will be used for refinancing and/or general operations.

ICBCTL’s senior notes are rated at the same level as its National Long-Term Rating as they represent the company’s unsecured and unsubordinated obligations.

ICBCTL’s National Long-Term Rating is based on Fitch’s view that the company is a core subsidiary of Industrial and Commercial Bank of China (Thai) Public Company Limited (ICBCT; AAA/Stable), as reflected by a high level of integration, history of ordinary financial support, full ownership and brand sharing.

The company said in a press release on Friday that after introducing a similar store in Thailand a year ago, the new store format received very positive feedback from its customers who love the convenience and quick shopping in their neighbourhood.

Tomoyoshi Oguri, COO, Uniqlo Thailand, said: “Through each Roadside Store, Uniqlo commits to contribute to the local community through various approaches, including creating employment opportunities, pursuing social business initiatives and many more. We hope Uniqlo roadside store will stimulate local communities in Pinklao, improving convenience for customers, and help bring prosperity and happiness for the community through our store, product and services.”

Uniqlo Roadside Boontahavorn Pinklao is located at Boonthavorn Pinklao complex on Borommaratchachonnani Rd. It has a sales floor of around 805 square meters, and will carry a full range of Uniqlo LifeWear items for men, women, kids and babies.

At the same time, TRIS assigned the rating to PSH’s proposed guaranteed debentures of up to Bt3,500 million at “A”.

The debentures are unconditionally and irrevocably guaranteed by Pruksa Real Estate (PS); PSH’s subsidiary, rated “A” with a “stable” outlook by TRIS.

The guaranteed debentures are ranked pari passu to PS’s senior unsecured debentures.

The new issue rating replaces the issue rating previously assigned on February 28, 2019, following PSH’s request to increase the issue size to up to Bt3,500 million, from Bt2,500 million. The proceeds from the proposed debentures will be used to replace debentures issued by PS maturing in March 2019 and for working capital.

The ratings reflect PSH’s creditworthiness as the holding company of the Group. PSH’s major subsidiary is PS, in which PSH holds a 98.23 per cent equity stake. The ratings are based on the significant stream of dividends PSH receives from PS.

After the reorganisation in 2016, PS’s residential property business remains a major revenue contributor of PSH. As a result, PS is considered as a “core” subsidiary of PSH. Therefore, the issuer ratings of PSH and PS are equivalent.

The ratings of PSH take into consideration the strengths of PS in the residential property market. PS’s competitiveness is derived from its relatively diversified product portfolio, cost competitiveness, and large backlog partly securing the company’s future revenue stream.

The ratings also take into consideration the Group’s moderate financial leverage level, the cyclicality and competitive environment in the residential property development business, and the impact from the introduction of new loan-to-value (LTV) rules by the Bank of Thailand.

At the same time, TRIS Rating assigns the rating on LH’s proposed issue of up to Bt6,000 million in senior unsecured debentures at “A+”. The proceeds from the new debentures will be used to refinance LH’s debentures maturing in April 2019.

The company said the ratings reflect LH’s leading market position in the residential property development industry, strong brand position in several product types, and moderate level of financial leverage.

The ratings also take into account the company’s financial flexibility deriving from recurring income assets and marketable securities and the cyclicality and competitive environment in the residential property development business.

LH ranks in the top three of listed property developers in Thailand in terms of revenue base.

The company said its operating revenue was Bt35,265 million in 2017 and Bt34,686 million in 2018.

The company had 73 existing projects as of December 2018, with total remaining project value worth Bt63,000 million. Landed property projects comprised around 70 per cent of total unsold value while the condominium projects made up the rest.

The total backlog was worth around Bt9,800 million and is expected to be transferred during 2019-2021.

The new Taco Bell restaurant will be the second in Thailand, set to open on the G Floor of the Siam Paragon shopping mall.

The brand is teaming up with franchise partner Siam Taco, a subsidiary company of Thoresen Thai Agencies to open this new location in the first week of April. This news follows the launch of Taco Bell’s first Thailand restaurant at Mercury Ville mall in January 2019.