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 Thursday, July 29, 2010
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Industrial confidence improved in April due to more orders
Posted on Thursday, May 21, 2009 |
BUSINESS NEWS:
Industrial confidence improved in April due to more orders
Thai business operators have been more optimistic about the future of the economy as the monthly survey showed their sentiment has improved last month.
Federation of Thai Industries Chairman, Santi Vilassakdanont, reveals today the April industrial confidence index rose to 76.3 from 69.5 recorded in the preceding month.
Higher purchase orders and improved sales were major reasons for the sentiment boost, according to FTI.
However, Santi says continued economic slowdown both in the country and around the world coupled with unresolved local political conflict have kept the confidence index below the 100-point level for the 37-th consecutive month.
Any number below 100 means, entrepreneurs are still not sure about the economic outlook.
However for the next three months, the sentiment index also improved from 75.1 in March to 81 in April because many were hoping for the return of clients and higher sales in the near future.
When asked about what they are looking forward to, many agreed that the government should try to resolve the ongoing political standoff for good and to constantly boost the economy. Relaxed bank loan regulations, baht stabilization policy, oil and raw material price control also what they want.
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Jan-Apr’09 auto sales & exports both dropped sharply
It is not only local sales that have suffered continued drop but Thailand’s auto exports also fell sharply on-year in April.
Federation of Thai Industries’ Automotive Industry Club spokesman, Surapong Paisitpatnapong, says in April the country has sold more than 39,700 cars which represented a 27-% on-year slide.
During the first four months of the year, nearly 147,500 cars have been sold or almost 32 % lower than the same period of 2008.
Global financial crisis is blamed for poorer sales.
More than 53,600 units were produced last month while some 252,600 cars were assembled from January and April. Both appeared to be a little more than half of the quantities the country has produced in 2008.
More than 53,600 units were produced last month while some 252,600 cars were assembled from January and April. Both appeared to be a little more than half of the quantities the country has produced in 2008.
In terms of exports, nearly 110 billion baht worth of automobiles and parts have been shipped out since the beginning of 2009. This is 33.5% lower than the same period of last year.
Meanwhile, Surapong says the Auto Club will revise this year’s auto production target next week. Currently, 1.08 million cars are expected to be produced in 2009.
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Govt likely to review energy price policy after crude rise
The government is pondering on an idea to revise its energy price policy after the global oil prices have been constantly going up in recent weeks.
Prime Minister Abhisit Vejjajiva says local fuel prices that have been adjusted upward recently are in line with the world oil market direction and have nothing to do with the government’s increase in excise tax on oil sales or in the State Oil Fund contribution.
Last week the government raised the oil tax from 5 baht to 10 baht a liter but the rise was decided to be implemented in a gradual fashion. As a result, only two more baht of tax is now charged to each liter of fuel sold.
In any case, Abhisit notes that the local oil price policy may be reviewed again in the near future.
The PM adds the Oil Fund can continue subsidizing retail energy sales for at least another four months.
Earlier, Energy Minister, Wannarat Charnnukul, said the Fund will help cushion consumer burden after the excise tax increase by lowering the mandatory collection from oil sales for one month.
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TTA warns tourist arrivals to fall 10-15% because of H1N1
The new influenza virus scare continues to take its toll on the already-battered tourism industry. Experts are warning tourist arrivals may fall further before the end of the year.
Thai Travel Agents Association President, Charoen Wongananont , says in 2009 the outbreak of the influenza A (H1N1) is expected to dump the number of foreign visitors to this country by 10-15 %.
Charoen reveals lately 95 % of Chinese and Japanese tourists already cancelled their trips to Thailand while half of Hong Kong visitors who already planned their vacations here either called off or postponed the holiday plan.
At the same time, a third of tourists from the West also gave up their intention to travel.
In terms of outbound tourism, some Thai travelers also decided to cancel or delay their trips to these nations.
Under such circumstances, Charoen is calling for more aggressive campaigns to encourage local people to travel more within the country to make up for the lost revenue.
In spite of this grim view, the Thai Travel Agents Association President hopes Asia’s and Thailand’s experience during the SARS outbreak will help the region tackle the present virus scare more efficiently especially when the tourism industry is in a low season during these few months.
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AIG hopes to sell AIA stake by Q1/10
The world’s former top insurer hopes to sell its business in Asia in hopes of raising fund to pay for loans it owes the U.S. government.
American International Group (AIG) is set to sell its stake in American International Assurance with is its insurance arm in Asia which also has a presence in Thailand.
The planned sales is hoped to be completed by the first quarter of 2010.
AIG hopes that the sales of its 30-% stake will raise as much as eight billion dollars.
The company has received financial assistance from the U.S. government in September 2008 to help prevent it from going bankrupt because of the financial crisis.
Bloomberg reports that AIG has been forced to get rid of AIA since March.
SET MONITOR:
After days of gains Thai share prices reversed to close significantly lower due to heavy sell-out in energy and banking sectors.
The Stock Exchange of Thailand’s major index lost 12.6 points before closing at 548.7 in high trade of 24.3 billion baht or nearly 708 million dollars.
Local institutions were the only net sellers of 1.6 billion baht which is around 48.5 million dollars.
And retail investors took turn to be the biggest net buyers of 1.4 billion baht or 43 million dollars followed by foreign investors of 5.5 million dollars.
The SET composite index finished more than 2% lower after investors heavily sold out energy, banking, property and technology shares.
The slide on the local bourse has been in line with regional trend and followed recent heavy gains.
Traders said the Thai index may slide further without good news on overseas market
| Index Performance |
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|
Last |
Change |
%Change |
High |
Low |
Volume
('000 Shares) |
Value
(M.Baht) |
|
SET Index |
548.77 |
-12.64 |
-2.25 |
563.03 |
545.78 |
5,136,306 |
24,334.67 |
|
SET100 Index |
832.54 |
-22.83 |
-2.67 |
857.35 |
827.56 |
3,409,703 |
21,808.72 |
|
SET50 Index |
390.48 |
-10.98 |
-2.74 |
402.25 |
388.03 |
2,045,703 |
18,069.85 |
|
mai Index |
174.94 |
-3.24 |
-1.82 |
179.61 |
174.31 |
204,597 |
366.60 |
| Source: The Stock Exchange of Thailand. |
| Net Buy/Sell |
|
Investor Type |
Buy
(M.Baht) |
% |
Sell
(M.Baht) |
% |
Net
(M.Baht) |
|
Local Institutions |
4,081.93 |
16.53% |
5,749.27 |
23.28% |
-1,667.35 M |
|
Foreign Institutions |
3,988.40 |
16.15% |
3,798.79 |
15.38% |
189.62 M |
|
Retail Investors |
16,630.95 |
67.33% |
15,153.22 |
61.35% |
1,477.73 M |
| Source: KGI Securities (Thailand) PLC. |
SET SPOTLIGHT:
CK price dived after government planned to negotiate MRT construction cost down
Ch.Karnchang suffered a significant fall of more than 5% this afternoon to 4.28 baht after Prime Minister Abhisit Vejjajiva instructed the Transport Ministry to negotiate with the company for lower construction cost of the purple-line mass rail system.
Currently, the agreed cost was 14.9 billion baht but the PM wants the number to go down to 13 billion baht.
CK was the winner of the project after proposing the lowest bid for the construction.
And this evening, its prices slipped further and ended 7.5% lower at 4.18 baht a share.
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CIMBT surged despite positive news; analysts warned of market speculations
Share prices of CIMB Thai Bank or formerly known as Bank Thai rose more than 20% earlier today to 2.06 baht even though there has been no significantly-good news in the market.
Analysts commented that the price rise might be induced by market speculations after it was reported that the bank may soon make tender offer.
In terms of fundamentals, they said there has also been no improvement for the bank which has been taken over by Malaysia’s CIMB group.
At the closing bell, its gains have been somewhat erased and the price settled at 1.90 baht.
SET HILIGHT:
PSL: Precious Shipping
XD @THB0.40 Payout 8 June 09
SET Today: Weekdays 6:30 pm |
Posted on Thursday, May 21, 2009 (Archive on Thursday, May 28, 2009)
Posted by suchitra Contributed by host
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