Sunday, February 05, 2012
Text Size :Small | Medium |Large
เอกสารแนบ


  SET Today  


NESDB adjusts 2008 GDP target from 4.5-5.5% to 5.2-5.7%
Posted on Monday, August 25, 2008
BUSINESS NEWS:

NESDB adjusts 2008 GDP target from 4.5-5.5% to 5.2-5.7%

The government’s economic think-tank has adjusted upward its 2008 economic growth forecast on hopes of consumption and investment recovery during the remainder of this year.

The National Economic and Social Development Board (NESDB) announced today that it has revised upward Thailand’s GDP growth estimate from 4.5 - 5.5% to 5.2 - 5.7%.

Its revision followed a 5.7% growth rate recorded during H1-08.

NESDB stated that Thai GDP growth rate in April and June was 5.3% compared with 6.1% seen in the preceding quarter.

The slower growth rate has been attributed by a slight fall in domestic investment coupled with surging inflation, the state think-tank said.

NESDB Secretary-General, Ampon Kitti-ampon, added that during H2-08 the Thai economy will likely continue to grow due to the recently introduced 6 state economic stimulus measures.

The agency is also hopeful that Thai exports would grow further despite volatile oil price.

It is also confident that Thai inflation will not average more than 8.8% during the remainder of this year.

Accordingly, Thai inflation should average 6.5 – 7% for the entire year of 2008.

**********************************************************

SCB faces legal dilemma over frozen Shinawatra assets & tax

The frozen asset of former PM, Thaksin Shinawatra’s family has come under the spotlight again after the Revenue Department demanded tax payment from the fund held at Siam Commercial Bank.

The Revenue Department has been demanding a payment of 12 billion baht in unpaid tax from former PM Thaksin’s children, Panthongtae and Pinthongta shinawatra for the sale of Shin Corp shares in January 2006.

But all the Shinawatra assets have been frozen by the order of the now-defunct Assets Examination Committee at Siam Commercial Bank.

The Revenue Department’s order has brought on criticisms over alleged attempts to release the frozen fund but the department promptly defended its move by saying it is merely doing its jobs.

Finance Minister, Surapong Suebwonglee, also admitted that he was the one who ordered the Revenue Department to demand the unpaid tax payment from Thaksin’s assets.

The payment demand was first sent to SCB on July 31 and again on August 22.

The department also threatened over the weekend to sue the bank if it fails to release the frozen money as ordered.

SCB has reportedly tried to play it safe by writing to the National Counter Corruption Commission, the Office of the Attorney-General and the Administrative Court for their opinions.

**********************************************************

Commerce to seek Cabinet endorsement to declare garlic & NGV new controlled items

The Commerce Ministry has decided to declare garlic and natural gas for vehicle as controlled items although its resolution is still pending a Cabinet endorsement.

Commerce Minister, Chaiya Sasomsap, said today the Central Committee on Goods and Service Prices meeting has agreed to include garlic and natural gas for vehicle (NGV) in its list of controlled products.

By being listed as controlled items, the sales prices of these products must always be shown and their movement must always be reported to the Internal Trade Department.

Chaiya said that he would propose the issue for the Cabinet to consider within the next few weeks.

He stated that the decision followed reports of continued garlic smuggling that has affected domestic prices as well as an attempt to help the Internal Trade Department to supervise the sales of NGV when its demand is likely to be on a rise.

**********************************************************

SAA predicts 10 listed-companies to buy back shares towards next year

Thai stock analysts predicted at least 10 more listed companies would buy back their shares from the market from now in hopes of raising their prices which have been heavily undervalue recently.

Securities Analysts Association secretary-general, Sombat Narawuthichai, said today the association forecast that at least 10 companies listed on the Thai bourse would buy back their shares from the market from now until the end of next year.

He stated such an attempt is aimed at restoring their prices which have plummeted heavily and become undervalue lately.

Sombat added that theoretically share buy-back is possible for all stocks under SET-50 while around 90% of those under SET-100 could choose to do so.

He stated so far 39 listed firms have opted for the buy-back plan and 20 of them succeeded in bringing their prices up.

SET MONITOR:

Thai share prices recovered from this morning’s fall but still closed slightly lower in thin trade.

The Stock Exchange of Thailand’s main index slipped almost 4 points to 678.2 with very light volume of 7.5 billion baht or nearly 221 million dollars.

Local institutions were the most active buyer of 277 million baht or some eight million dollars followed by foreign investors of 189 million baht which is around 5.5 million dollars.

Retail investors today posted a net sell of 466 million baht. That’s some 13 million dollars.

Thailand’s stock market finished 0.55% lower following sell-out in energy sector while sentiment remains weak ahead of the grand anti-government rally in Bangkok on Tuesday.

Index Performance

Last

Change

%Change

High

Low

Volume
('000 Shares)

Value
(M.Baht)

SET Index

678.20

-3.73

-0.55

681.17

676.37

2,285,308

7,530.70

SET100 Index

1,031.39

-4.99

-0.48

1,035.25

1,026.51

1,442,924

5,865.85

SET50 Index

478.83

-1.94

-0.40

480.54

476.07

220,258

4,383.87

FSTHL

791.75

-1.34

-0.17

-

-

-

-

mai Index

239.57

-3.09

-1.27

242.82

239.22

13,338

47.05

Source: The Stock Exchange of Thailand.


Net Buy/Sell

Investor Type

Buy
(M.Baht)

%

Sell
(M.Baht)

%

Net
(M.Baht)

Local Institutions

1,294.62

17.08%

1,017.43

13.43%

277.20 M

Foreign Institutions

1,868.06

24.65%

1,679.78

22.17%

188.28 M

Retail Investors

4,415.07

58.26%

4,880.55

64.41%

-465.47 M

Source: KGI Securities (Thailand) PLC.


SET SPOTLIGHT:

BAFS expects marginal 2008 profit growth of less than 1% due to fuel demand slowdown

Bangkok Aviation Fuel Services expects to record a small profit growth of less than 1% in 2008 from 4.59 billion liters last year after it has experienced a significant decline in fuel demand.

The company said Thai Airways’ demand for fuel has fallen 10% while that of Nok-air and One-Two-Go dropped by 2-3% this year.

Surging oil price and economic slowdown were simply blamed for such a pessimistic outlook.

BAFS share price ended more than 1% lower at 8.50 baht.


SET HILIGHT:

SHIN: Shin Corporation
XD @ THB1.15 Payout 11 Sept 08

PSL: Precious Shipping
XD @ THB0.75 Payout 11 Sept 08

CPNRF: CPN Retail Growth Property Fund
XD @ THB0.2155 Payout 15 Sept 08


SET DATEBOOK:

27 Aug 2008: Bank of Thailand Monetary Policy Committee Meeting

29 Aug 2008: Bank of Thailand Release of July Economic Data

SET Today: Weekdays 6:30 pm


Posted on Monday, August 25, 2008 (Archive on Monday, September 01, 2008)
Posted by suchitra  Contributed by host
รายการย้อนหลัง


      แสดงความคิดเห็นเพิ่มเติม




ส่งความคิดเห็น

50.00%0
40.00%0
30.00%0
20.00%0
10.00%0

จำนวนของความคิดเห็น 0 ,
คะแนนเฉลี่ย
  View Comments



  Advertisement