TTA’s shareholders approved cash dividend payments at 0.54 THB per share, cancelled and reaffirmed 50 million ordinary shares at Baht 1 par for future financial usage, and nominated four directors for another term
An annual cash dividend payment at 0.54 THB per share was approved at the 1/2010 Annual General Meeting of Shareholders of Thoresen Thai Agencies Public Company Limited (“TTA”) along with the increase of TTA registered share capital for a private placement worth 50 million THB. The meeting also approved the re-appointment of four directors for another term.
M.L. Chandchutha Chandratat, TTA President and Chief Executive Officer, reported that TTA’s shareholders approved cash dividends at 0.54 THB per share to the 708,004,413 shares, worth 382.3 million THB in total value.
“The dividends will be paid to shareholders whose names appear on TTA’s share register book on the Record Date of 8 February 2010. The share register book closing date for collecting shareholders names under Section 225 of the Securities and Exchange Act is scheduled to be 9 February 2010. The final dividend payment shall be made on 23 February 2010,” said the President & Chief Executive Officer.
“The shareholders approved the re-election of Mr. Stephen Fordham, Mrs. Pratana Mongkolkul, Mrs. Joey Horn, and Mr. Terje Schau, as directors for another term as they are highly experienced and competent.”
“It also approved the appointment of PricewaterhouseCoopers ABAS Limited as TTA’s auditor for the financial year that ended on 30 September 2010 and fix the auditors’ fees at 3.16 million THB,” said President & Chief Executive Officer Chandchutha.
He said the shareholders also approved the capital reduction by cancelling 50,048,452 authorized but un-issued shares at the par value of 1 THB each from the existing registered capital of 933 million THB to be the new registered capital of 883 million THB divided into 883,004,413 shares at the par value of Baht 1 each.
“The shareholders approved an increase of the registered capital of another 50 million THB by an issue of 50,000,000 new ordinary shares at the par value of Baht 1 each from the existing registered capital of 883 million THB to be the new registered capital of 933 million THB divided into 933,004,413 ordinary shares at the par value of 1 THB each,” reported the President & Chief Executive Officer.
“The shareholders had approved the allotment of 50,000,000 new ordinary shares of par value at 1 THB to be reserved for private placement in 1999 and re-confirmed the amount in 2009. TTA has no immediate plan to place the private placement shares in the near future. The allotment of 50 million new shares is to maintain future financial flexibility.”
The shareholders approved the issue of 4,000,000 warrants to directors and employees, including any employee(s) who is also a director, of Mermaid and its subsidiaries, under an ESOP Scheme. “The ESOP Scheme has the goal of increasing the personal stake of such directors and employees in the continued success and growth of Mermaid and motivating them to remain in the service of Mermaid on a long-term basis,” he said.
About TTA
Thoresen Thai Agencies Public Company Limited is amongst the top 50 companies listed on the Stock Exchange of Thailand with high trading liquidity. Its investment strategy is to grow through a diversified business portfolio of transport, energy, and infrastructure assets, both domestically and internationally. TTA is recognised as a leader in the dry bulk shipping industry. The company has also expanded its investment into other business areas, such as offshore services through Mermaid Maritime Public Company Limited, fertilisers and logistics through Baconco Co., Ltd., and coal-related businesses through Merton Group (Cyprus) Limited and Unique Mining Services Public Company Limited.
Sunday, February 7, 2010
Friday, February 5, 2010
Global Corporate And Sovereign Rating Actions Hit 23-Year High Of 1,560 In 2009, Article Says
Standard & Poor's Ratings Services downgraded 1,298 global issuers and upgraded 262. The 1,560 total rating actions is the most taken in a single year since our series began in 1987, including the previous record high of 1,207 downgrades and 222 upgrades in 2001, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Corporate And Sovereign Rating Actions: Fourth-Quarter 2009 (Premium)."
Of the rating actions in 2009, 62% were based in the U.S., 16% were based in Europe, 15% were based in the emerging markets, and 8% were based in the other developed region (Australia, Canada, Japan, and New Zealand).
"With the exception of the emerging markets, each region saw their downgrade ratios peak in the first quarter and then taper off before hitting lows for the year in the fourth quarter," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "The emerging markets' downgrade ratio peaked in the second quarter at 97%."
Of the industries that had more than five rating actions globally in 2009, finance companies, automotive, banks, sovereigns, forest products and building materials, capital goods, and media and entertainment all had downgrade ratios of 90% or higher for the year. Health care performed the best in 2009, with a downgrade ratio of only 33%--less than half the average across all sectors.
This article is part of our premium Global Fixed Income Research content, which is available to premium subscribers to RatingsDirect on the Global Credit Portal at www.globalcreditportal.com and to RatingsDirect at www.ratingsdirect.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Of the rating actions in 2009, 62% were based in the U.S., 16% were based in Europe, 15% were based in the emerging markets, and 8% were based in the other developed region (Australia, Canada, Japan, and New Zealand).
"With the exception of the emerging markets, each region saw their downgrade ratios peak in the first quarter and then taper off before hitting lows for the year in the fourth quarter," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "The emerging markets' downgrade ratio peaked in the second quarter at 97%."
Of the industries that had more than five rating actions globally in 2009, finance companies, automotive, banks, sovereigns, forest products and building materials, capital goods, and media and entertainment all had downgrade ratios of 90% or higher for the year. Health care performed the best in 2009, with a downgrade ratio of only 33%--less than half the average across all sectors.
This article is part of our premium Global Fixed Income Research content, which is available to premium subscribers to RatingsDirect on the Global Credit Portal at www.globalcreditportal.com and to RatingsDirect at www.ratingsdirect.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Altegrity Grows, Launches Fourth Business—Altegrity Risk International (ARI)
Altegrity CEO Mike Cherkasky Names Bill Bratton Chairman and Michael Beber President and CEO of New Business That Provides Global Risk Mitigation and Security Solutions
Altegrity, Inc.—the global information, screening, and security solutions provider—has formed a new business, Altegrity Risk International, Inc. (ARI), to provide high-quality due diligence, investigative, analytic, consulting, intelligence, and security solutions to organizations around the world. ARI will help its clients anticipate, prevent, and resolve issues, reduce fraud and loss, and maximize business opportunities.
“Risk has always been a part of our professional and personal lives, but because of the interconnected, global environment in which we live today, risk and security concerns have taken an unfortunate, costly, and at times deadly center stage,” said Mike Cherkasky, Altegrity CEO. “Throughout my career in business and as a former prosecutor, I have learned that information—how efficiently it can be gathered, processed, and analyzed to create a solution—is what often makes the difference between success and failure in both the public and private sectors.”
Mr. Cherkasky continued: “With this as our starting point, we created Altegrity Risk International to provide a quicker, more thorough and inclusive, as well as cost-effective way to provide businesses and organizations with the information and expertise they need to reduce risk and ensure more secure and successful organizations.”
ARI will serve a global community of corporations—as well as financial, legal, investment, non-profit, and government institutions—covering most major business sectors. The company’s multidisciplinary team from the fields of investigations, forensics, data intelligence, financial technology, and security/policing will provide ARI clients with specialized solutions to identify, analyze, prevent, and remediate the entire range of financial, legal/regulatory, reputational and security
risks.
William Bratton, the only person to serve as chief executive of both the New York City and Los Angeles police departments, will serve as ARI chairman. Michael Beber, who has proven success in developing intelligence and risk/data management businesses, will serve as ARI’s president and CEO.
“Right from the start, our clients will identify with our expertise and the quality of our people,” said Mr. Bratton. “We have assembled a team of world-class experts. They come from a wide-range of fields, from investigations, compliance, and forensics to data intelligence and financial technology. ARI’s clients will receive a deeply insightful, multidimensional, and highly evolved view of risk and security solutions so they can take advantage of opportunities and avoid disruptions to their operations.”
“Leveraging advanced technology tools, we are able to provide our clients, no matter whether they are located down the block or anywhere in the world, with better and faster, more thorough, and cost-effective solutions to the specific challenges and risks they face,” said Mr. Beber. “ARI’s tagline was a natural—From Information to Intelligence.SM This well describes the dynamic, smarter solutions we provide to help our clients manage and mitigate risk.”
Headquartered in New York City, ARI provides global coverage through offices in Chicago, Hong Kong, Houston, London, Los Angeles, and Washington, D.C. The company has a network of consultants, investigators, and specialists around the globe with experience in more than 150 countries. Additionally, as an Altegrity company, ARI has
access to the largest investigative force in the United States, with more than 2,800 well trained and cleared investigators.
ARI provides business and organizational solutions and services in five distinct practice areas:
Decision Intelligence. Business intelligence and due diligence solutions that help clients execute compliance programs and manage the risk inherent in commercial transactions and business relationships.
Investigative & Forensic Services. Information that helps clients manage crises, create opportunities, and mitigate financial and reputational loss.
Legal Risk Solutions. Legal risk assessments, due diligence, electronic data discovery, computer forensics, and witness and asset location, which help clients harness critical information and assess the financial, reputational, and operational risks of pursuing or responding to litigation.
Compliance & Monitoring. Creation and implementation of compliance programs that anticipate and resolve legal and regulatory risks, including independent monitors who can establish and monitor sustainable solutions.
Altegrity Security Consulting. Advice and solutions for operational policing, intelligence, crisis response, and security throughout the world. Customized programs covering the physical security of people, premises, assets, and information.
Altegrity, a global screening and security solutions company headquartered in Falls Church, Va., has nearly 8,000 employees in locations around the world. Altegrity, which is the holding company for USIS, HireRight, Explore Information Services, and Altegrity Risk International, partners with its government and commercial clients to help them Make Decisions Smarter® by uncovering, reviewing, analyzing, and delivering information. Altegrity is the largest commercial provider of background investigations for the government; a global commercial employment background and drug screening supplier to more than 25 percent of the Fortune 500; one of the principal providers of data services to the insurance industry; and a leading provider of high quality due diligence, investigative, analytic, consulting, intelligence, and security solutions to organizations
Altegrity, Inc.—the global information, screening, and security solutions provider—has formed a new business, Altegrity Risk International, Inc. (ARI), to provide high-quality due diligence, investigative, analytic, consulting, intelligence, and security solutions to organizations around the world. ARI will help its clients anticipate, prevent, and resolve issues, reduce fraud and loss, and maximize business opportunities.
“Risk has always been a part of our professional and personal lives, but because of the interconnected, global environment in which we live today, risk and security concerns have taken an unfortunate, costly, and at times deadly center stage,” said Mike Cherkasky, Altegrity CEO. “Throughout my career in business and as a former prosecutor, I have learned that information—how efficiently it can be gathered, processed, and analyzed to create a solution—is what often makes the difference between success and failure in both the public and private sectors.”
Mr. Cherkasky continued: “With this as our starting point, we created Altegrity Risk International to provide a quicker, more thorough and inclusive, as well as cost-effective way to provide businesses and organizations with the information and expertise they need to reduce risk and ensure more secure and successful organizations.”
ARI will serve a global community of corporations—as well as financial, legal, investment, non-profit, and government institutions—covering most major business sectors. The company’s multidisciplinary team from the fields of investigations, forensics, data intelligence, financial technology, and security/policing will provide ARI clients with specialized solutions to identify, analyze, prevent, and remediate the entire range of financial, legal/regulatory, reputational and security
risks.
William Bratton, the only person to serve as chief executive of both the New York City and Los Angeles police departments, will serve as ARI chairman. Michael Beber, who has proven success in developing intelligence and risk/data management businesses, will serve as ARI’s president and CEO.
“Right from the start, our clients will identify with our expertise and the quality of our people,” said Mr. Bratton. “We have assembled a team of world-class experts. They come from a wide-range of fields, from investigations, compliance, and forensics to data intelligence and financial technology. ARI’s clients will receive a deeply insightful, multidimensional, and highly evolved view of risk and security solutions so they can take advantage of opportunities and avoid disruptions to their operations.”
“Leveraging advanced technology tools, we are able to provide our clients, no matter whether they are located down the block or anywhere in the world, with better and faster, more thorough, and cost-effective solutions to the specific challenges and risks they face,” said Mr. Beber. “ARI’s tagline was a natural—From Information to Intelligence.SM This well describes the dynamic, smarter solutions we provide to help our clients manage and mitigate risk.”
Headquartered in New York City, ARI provides global coverage through offices in Chicago, Hong Kong, Houston, London, Los Angeles, and Washington, D.C. The company has a network of consultants, investigators, and specialists around the globe with experience in more than 150 countries. Additionally, as an Altegrity company, ARI has
access to the largest investigative force in the United States, with more than 2,800 well trained and cleared investigators.
ARI provides business and organizational solutions and services in five distinct practice areas:
Decision Intelligence. Business intelligence and due diligence solutions that help clients execute compliance programs and manage the risk inherent in commercial transactions and business relationships.
Investigative & Forensic Services. Information that helps clients manage crises, create opportunities, and mitigate financial and reputational loss.
Legal Risk Solutions. Legal risk assessments, due diligence, electronic data discovery, computer forensics, and witness and asset location, which help clients harness critical information and assess the financial, reputational, and operational risks of pursuing or responding to litigation.
Compliance & Monitoring. Creation and implementation of compliance programs that anticipate and resolve legal and regulatory risks, including independent monitors who can establish and monitor sustainable solutions.
Altegrity Security Consulting. Advice and solutions for operational policing, intelligence, crisis response, and security throughout the world. Customized programs covering the physical security of people, premises, assets, and information.
Altegrity, a global screening and security solutions company headquartered in Falls Church, Va., has nearly 8,000 employees in locations around the world. Altegrity, which is the holding company for USIS, HireRight, Explore Information Services, and Altegrity Risk International, partners with its government and commercial clients to help them Make Decisions Smarter® by uncovering, reviewing, analyzing, and delivering information. Altegrity is the largest commercial provider of background investigations for the government; a global commercial employment background and drug screening supplier to more than 25 percent of the Fortune 500; one of the principal providers of data services to the insurance industry; and a leading provider of high quality due diligence, investigative, analytic, consulting, intelligence, and security solutions to organizations
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