Stocks in the news (ANAN, KC, SENA, THCOM, TOG, TRUE, TUF) – 19.12.12

ANAN

Buys land for condo on Sukhumvit — ANAN acquires the land to develop a condominium in Sukumvit worth Bt825mn, using the funds from its IPO. The company expects to launch the first phase in 1Q13 with construction finished in 1Q14. (Tun Hoon, 19/12/12)

Comment: They needed to IPO to raise capital and I’m not convinced regarding their product however I have been wrong on property stocks before…

KC

KC signals a good 2013 — KC will partner with new alliance to expand to the high rise segment and expects to turn profit next year. It will book Bt250mn land sales in 2013. (Tun Hoon, 19/12/12)

Continue reading Stocks in the news (ANAN, KC, SENA, THCOM, TOG, TRUE, TUF) – 19.12.12

Personal tax rates lowered for 2013

Yesterday the cabinet came out with a new tax structure for individuals stating that personal income taxes will be lowered across all brackets.

So what?

1. Government tax revenues continue to decrease – worrying although Thailand albeit still has low debt-GDP levels

2. Great for us individuals! But I still don’t understand why a flat rate for corporations and individuals doesn’t exist, it would make life far simpler for all involved

3. Strategists may be out in full force saying how this additional income will be a boon for retail stocks as Thais will have more spending power.

incometax