|
|
 Sunday, February 05, 2012
|
|
|
|
| เอกสารแนบ |
 |
|
|
FTI confident in -4.7% GDP for 2009, worried about exports
Posted on Tuesday, May 26, 2009 |
BUSINESS NEWS:
FTI confident in -4.7% GDP for 2009, worried about exports
The Thai Industries Federation insists on its 2009 economic growth target, despite the recent release of official data that showed the local economy contracted 7.1% in Q1-09.
Federation of Thai Industries Chairman, Santi Vilassakdanont, says today the confirmation of a 7.1-% economic contraction in Q1-09 has exceeded the private sector’s prediction of minus-6 %.
The official report came out of the National Economic and Social Development Board on Monday.
However, Santi says it is believed that the Thai economy has seen the worst already and the situation should pick up significantly in the second quarter of this year when the contraction rate should range 5-6%.
He adds certain sectors particularly electronics and petrochemical have seen the return of purchase orders.
Accordingly, the FTI forecast the country’s economy will not shrink more than 4.7% in 2009.
However he warns oil price movement and the baht direction should still be closely monitored as both have direct impact on the export industry which is the country’s major money-spinner.
As the baht is now trading much stronger than its estimate of 35-36 per one dollar, the FTI is worried Thai export growth will likely contract more than 10% this year.
************************************************************
Korn worried about Q2 economy after -7.1% GDP report
The finance minister is worried the country will continue suffer economically until the middle of this year.
Finance Minister Korn Chatikavanij says today, he hopes the many state economic stimulus measures will help revive the situation after official data showed, Thai GDP growth was minus-7.1 % in the first quarter of 2009.
Q1 data indicated Thailand has plunged into technical recession after a minus-4.3-% GDP in Q4-08.
He states all stimuli should be able to tackle a series of negative factors which have been pressuring the economy for months.
Howeve,r he concedes violent political standoff and long holidays in April may lead the second-quarter performance to remain weak.
Korn took the opportunity to appeal for more support to back the government’s plan to pass an executive decree that will enable the Finance Ministry to borrow up to 400 billion baht or 1.1 billion dollars to boost the economy.
The finance minister also urged the opposition to suggest alternative approaches following their objection of the loan decree which is now under the review of the Constitution Court.
************************************************************
Constitution Court to rule on THB400-bil executive decree on Jun 3
The Constitution Court will take another week to look into the controversial executive decree which the Democrat Party-led government hopes to pass. The decree is planned to allow for more borrowings to back the state economic stimulus plan.
Finance Minister Korn Chatikavanij told reporters after presenting his case to the Constitution Court earlier today that the judges have scheduled to rule on the legality of the loan decree on June 3.
Korn visited the court on Tuesday to defend the government’s issuance of the controversial executive order which the opposition has objected.
The opposition Pheu Thai Party argued that the government can resort to other means to raise fund and alleged that the decree was unconstitutional as the current administration is not in such a hurry to issue the order.
The government decided to pass the decree to the Constitution Court to review last week.
The finance minister reportedly cited the latest report from the National Economic and Social Development Board which was released on Monday and stated that Thai economy has been in recession after contracting 4.3 and 7.1% in Q4-08 and Q1-09, respectively.
He told the court the government is now in urgent need of more financing to facilitate the implementation of many projects aimed at alleviating public burden.
The minister also affirmed that while the court is debating whether the decree is against the Constitution, the government is ready to deliberate the 2010 fiscal budget bill as planned.
************************************************************
Commerce confident exports will recover after mid-year
Despite continued fall in Thai trade, the Commerce Ministry is confident the export sector will start to recover after the second half of the year.
Deputy Commerce Minister, Alongkorn Ponlaboot, says it is highly likely that Thai exports will be picking up after June after plunging nearly 22% in Q1-09.
The Commerce Ministry blamed falling global demand and higher competition due to the present economic downturn for a continued fall in the country’s trade.
And while expecting the situation to start easing in Q2, Alongkorn concedes the impact of the new influenza outbreak on international travelers may be sizable on the country.
In any case, the ministry will make an official assessment again at the end of Q2 before it issues a new export growth forecast for this year.
************************************************************
BoT reckons loan approvals to rise marginally due to NPL scare
Thailand’s central bank is expecting a small rise in local loan approvals as commercial banks are still quite worried about a possible surge in bad debts.
The Bank of Thailand suggests today it has estimated that the level of loan approvals by commercial banks will go up slightly in the second quarter of 2009 when compared with the first three months of this year.
It states banks remain worried about borrowers’ debt-settlement capability amidst continued global economic slowdown.
At the same time, the central bank believesbusiness demand for loans will also rise marginally in Q2 because of sluggish investment environment.
The BoT also says household debts in Q2 will go up at a small rate in tandem with improved economic conditions in the country and the government’s economic stimulus measures.
However, it warned commercial banks to be watchful while granting loans to business operators from hotel and restaurant, electronics and electrical appliances and automobile sectors.
SET MONITOR:
The local stock market ended lower for the second-consecutive day following heavy sell-out in late afternoon.
The Stock Exchange of Thailand’s main index fell nearly 8 points to 542.6 with active volume of 15.1 billion baht or about 440 million dollars.
Local institutions took turn to be the only net sellers of 1.5 billion baht or some 45 million dollars.
And foreign investors posted a net buy of 545 million baht or nearly 16 million dollars followed by retail investors of one billion baht or almost 30 million dollars.
The Thai market went down nearly 1.5% after investors heavily sold out their holdings and pushed the index to the day’s low. Energy shares were today’s major sell-out target.
Analysts said losses on the SET are in line with regional markets while investors
| Index Performance |
|
|
Last |
Change |
%Change |
High |
Low |
Volume
('000 Shares) |
Value
(M.Baht) |
|
SET Index |
542.69 |
-7.82 |
-1.42 |
554.69 |
542.69 |
3,940,634 |
15,163.24 |
|
SET100 Index |
821.35 |
-13.07 |
-1.57 |
841.23 |
821.35 |
2,568,374 |
13,192.73 |
|
SET50 Index |
384.77 |
-5.94 |
-1.52 |
393.86 |
384.77 |
1,546,126 |
10,771.91 |
|
mai Index |
172.94 |
-4.08 |
-2.30 |
176.79 |
172.94 |
122,463 |
225.16 |
| Source: The Stock Exchange of Thailand. |
| Net Buy/Sell |
|
Investor Type |
Buy
(M.Baht) |
% |
Sell
(M.Baht) |
% |
Net
(M.Baht) |
|
Local Institutions |
1,752.83 |
11.39% |
3,316.07 |
21.55% |
-1,563.24 M |
|
Foreign Institutions |
2,801.18 |
18.20% |
2,257.10 |
14.67% |
544.08 M |
|
Retail Investors |
10,834.38 |
70.41% |
9,815.22 |
63.78% |
1,019.17 M |
| Source: KGI Securities (Thailand) PLC. |
SET SPOTLIGHT:
GLOW affirms coal-powered plant construction go as planned after halt rumor
Thailand’s third-largest private power producer, Glow Energy, affirmed that it will continue with the planned construction of a coal-powered plant in eastern Rayong province.
It denied earlier reports that the Industrial Estate Authority of Thailand has suggested a halt of the plan due to worries that the construction could go against earlier court ruling that made Map Ta Phut area in the province a pollution-control zone.
The rumor has pushed the company’s share prices lower by more than 2% to 27.25 baht earlier today.
And At the closing bell, Glow prices ended falling 3.5% at 27 baht.
************************************************************
SALEE on a rise following reports of alliance talks with new overseas partners
mai-listed, Salee Industry, has been enjoying sizable gains of nearly 7% this morning when its share prices went up to 1.86 baht apiece.
Sources within the company stated Salee is now negotiating with a number of foreign partners regarding a business alliance plan.
The company is hopeful the electronics industry will recover significantly during the second half of the year after positive signs have been detected in the past month.
SET HILIGHT:
BKI: Bangkok Insurance
XD @THB2.75 Payout 12 June 09
SET Today: Weekdays 6:30 pm |
Posted on Tuesday, May 26, 2009 (Archive on Tuesday, June 02, 2009)
Posted by suchitra Contributed by host
| | รายการย้อนหลัง |
|
|
|