Former Sunway Holdings Bhd managing director Datuk Yau Kok Seng is joining the Hong Leong Group.
He will be group MD of Hong Leong Industries Bhd (HLI) from Sept 5. Yau, 51, had joined the Sunway Group as head of corporate finance in 1992 and was appointed MD of Sunway Holdings in April 2001.
HLI’s activities include the manufacturing of semiconductors, motorcyles and ceramic tiles. (The Star Online)
Thursday, August 25, 2011
Thailand raises rates
BANGKOK: The Bank of Thailand raised its benchmark interest rate by 25 basis points to 3.5% yesterday and said rates were getting closer to normal levels, but it said it was watching government policies closely in case they stoked inflation.
Economists were divided on whether there would be one, two or no more rate rises in the remaining two meetings of the year. One noted a “modest tempering in the hawkish rhetoric as attention shifts towards downside risks to growth”.
They did not think government pressure to hold down rates would be a factor. The new government, which was sworn in this month, would prefer rates to be cut and says tighter policy is in conflict with its pro-growth programme. (Reuters)
Economists were divided on whether there would be one, two or no more rate rises in the remaining two meetings of the year. One noted a “modest tempering in the hawkish rhetoric as attention shifts towards downside risks to growth”.
They did not think government pressure to hold down rates would be a factor. The new government, which was sworn in this month, would prefer rates to be cut and says tighter policy is in conflict with its pro-growth programme. (Reuters)
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