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 Friday, March 12, 2010
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JFCCT: Foreign investors still confident in Thailand
Posted on Monday, April 27, 2009 |
BUSINESS NEWS:
JFCCT: Foreign investors still confident in Thailand
The Joint Foreign Chambers of Commerce has expressed its confidence in this country, although it admits ongoing political turmoil is still giving Thailand a bad name.
Joint Foreign Chambers of Commerce of Thailand Chairman, Nandor von der Luehe, says foreign investors are still confident in the kingdom at present.
However he concedes that continued political crisis coupled with the global economic downturn are giving Thailand a negative outlook in the eyes of outsiders.
He states there should be more positive factors to help draw investors back into the country especially now that only damaging news seem to have come out of it.
Nandor went on to say that there remains a large pool of business potential here.
Meanwhile, Thai-Italian Chamber of Commerce President , Ekkamon Hutasingh, comments that he believes foreign investors and visitors will be ready to come back to this country as soon as the entire situation is convincingly stable.
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Finance: February public debt ratio rose to 39.93% of GDP
Official data out of the Finance Ministry shows this country’s public debts have been rising on-month in February due to the government’s need to cushion its budget.
The Finance Ministry reports today Thailand’s public debts were 3.59 trillion baht or 39.93% of GDP in February.
Out of this, 2.28 trillion baht or around 64.5 billion dollars were the government’s direct borrowings while some one trillion baht belonged to all state enterprises. The rest came from the Financial Institutions Development Fund and other government offices.
When compared with January 2009, the public debts were 73.7 billion baht or nearly 2.1 billion dollars higher.
Ministry officials say higher state borrowings to make up for the budget deficit mainly attribute to a rise in the country’s public debts.
Meanwhile, a rise in state enterprise debts also contributed to bigger figures.
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Deadly flu threats hurting Thai pork producers dearly
Heightened threats of swine flu scare around the world are hurting pork producers and butchers in Thailand considerably.
Commerce Ministry’s Internal Trade Department Chief, Yanyong Phuangrach, says the swine flu concerns that started in Mexico is now taking its toll on Thailand’s pork business.
Yanyong states while the impact is merely psychological on consumers, the situation will inevitably lead to a fall in local pork price.
He adds the Commerce Ministry will collaborate with the Agriculture Ministry to launch a promotional campaign for pork consumption by focusing on the safety of domestic pork. The measures will be presented to the Cabinet for consideration on Tuesday.
Moreover, the Internal Trade Department Director-General says economically-priced pork will be offered at the ministry-sponsored Blue Flag campaign throughout the country until September.
Meanwhile, Dr. Yong Poovorawan head of Center of Excellence in Clinical Virology at Chulalongkorn University confirms that pork consumption does not cause the infection of the swine flu virus.
SET MONITOR:
The Thai stock market finished slightly higher on the first trading day of the week led by gains in blue-chip sectors.
The Stock Exchange of Thailand composite index added nearly a point at 474.9 with active volume of 14.5 billion baht or about 409 million dollars.
Foreign investors were the only net buyers of 707 million baht which is approximately 20 million dollars.
And local institutions registered the biggest net sell of 406 million baht or 11.5 million dollars followed by retail investors of 301.5 million baht.
The local bourse added 0.19% at today’s close after investors actively bought energy banking and property shares with sell-out in transport technology and petrochem stocks trimmed the rise.
Analysts commented that the Thai market has been experiencing vast volatility due to pressure from regional trade as well as rising global scare about swine flu outbreak.
| Index Performance |
|
|
Last |
Change |
%Change |
High |
Low |
Volume
('000 Shares) |
Value
(M.Baht) |
|
SET Index |
474.99 |
+0.92 |
+0.19 |
477.17 |
472.10 |
3,598,573 |
14,505.88 |
|
SET100 Index |
711.09 |
+1.03 |
+0.15 |
715.26 |
706.36 |
2,346,842 |
12,776.11 |
|
SET50 Index |
333.40 |
+0.57 |
+0.17 |
335.42 |
331.17 |
1,169,496 |
10,433.50 |
|
mai Index |
160.03 |
+1.21 |
+0.76 |
160.03 |
158.00 |
112,780 |
175.70 |
|
Source: The Stock Exchange of Thailand |
| Net Buy/Sell |
|
Investor Type |
Buy
(M.Baht) |
% |
Sell
(M.Baht) |
% |
Net
(M.Baht) |
|
Local Institutions |
2,016.62 |
13.74% |
2,423.09 |
16.50% |
-406.47 M |
|
Foreign Institutions |
2,957.55 |
20.14% |
2,249.52 |
15.32% |
708.04 M |
|
Retail Investors |
9,707.40 |
66.12% |
10,008.97 |
68.17% |
-301.56 M |
|
Source: KGI Securities (Thailand) PLC. |
SET SPOTLIGHT:
SYRUS takes a lead in the merger with FINANSA & ACLS, which is expected to be concluded in June
Syrus Securities is taking a lead in the merger with Finansa Securities and ACL Securities which will likely be concluded by June.
Syrus Chairman, Chatchaval Jiaravanon, says upon the completion of the merger their combined market share will be around 5% with total numbers of 18,000 accounts under one roof.
Sources say the new company which will be set up after the process is completed will have 90-% retail investors and 10-% institutional clients.
Syrus Securities decided to lead the merger because of its status as a listed firm and its strong intention to expand into brokerage business.
And this evening, Syrus Securities finished 18 % higher at 3.30 baht.
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Food sector, except pork-related businesses, on a rise, backed by windfall from swine flu
Share prices of food companies, except those related to pork products have made sizable gains since the opening bell on hopes that consumers will switch to other meats as the whole world is in the grip of swine flu.
So far, more than a hundred people have been killed by the virus in Mexico while infection was reported in some states of the U.S. and also suspected in New Zealand.
Companies that have reaped the windfall from this health threat include Charoen Pokphand Foods, GFPT, Seafresh Industry and Thai Union Frozen Products.
At the end of the day, CPF prices, however, lost more than 0.5% while CFRESH surged 30 % and TUF closed up 13 %. GFPT also gained 7%.
SET HILIGHT:
NIPPON: Nippon Pack (Thailand)
XD @THB2.00 Payout 12 May 09
SAUCE: Thai Theparos Food Products
XD @THB8.75 Payout 15 May 09
CENTEL: Central Plaza Hotel
XD @THB0.10 Payout 22 May 09
SET DATEBOOK:
30 April 2009 - BoT Release of March Economic Report
SET Today: Weekdays 6:30 pm |
Posted on Monday, April 27, 2009 (Archive on Monday, May 04, 2009)
Posted by suchitra Contributed by host
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