Bangkok Post, Thailand, Company Reports Column.

Aug. 4--Asian Property Development said shareholders on Aug 2 approved the separation of the company's real-estate and construction materials businesses. The company will focus on real estate and transfer its factory licences to a wholly owned subsidiary, PCM Construction Material Co. Assets and equipment related to construction materials would also be transferred.

Shareholders also approved a 200m-bt long-term loan and revolving capital facility to the subsidiary. As well, they approved a capital increase to 2.3bn bt from 1.8bn bt; and the issue of 35m five-year warrants for free to purchasers of capital-increase shares, in a ratio of two warrants to one new share. Each warrant could be exchanged for one common share at 10 bt. Of the 52.5m shares to be issued, 17.5m would be allocated to shareholders on the register as of Aug 15, while the remaining 35m would be reserved for the warrant exercise.

-- Bangkok Bank said it had sold all 100 of its preferred shares (10 percent ) in Rhodia (Thailand) Co, a chemical and medical products trader, for 28,000 bt.

-- Bangkok Land said shareholders on July 27 approved the appointment of Pongtorn Palivanich and Tongpao Boon-long to its audit committee.

-- Bank of Asia said that on Aug 2, it sold all 16m common shares, a 100 percent stake, in BoA Securities Co to Thaksin Finance Co, a subsidiary of Bangkok Bank, at 12.41 per share. The purpose was to dispose of the company's securities business.

-- BankThai said that on Aug 1, it sold all 2.5m of its common shares (25 percent ) in One Asset Management to KGI Securities (Thailand) at 50 bt each. KGI now holds 100 percent of One Asset Management.

-- Book Club said no holders of subordinated convertible debentures or warrants exercised rights on July 31.