Stocks in the news (bbl, Makro, Thai) 23.04.13


BBL gets into auto lending with specific loans for first car buyers — Even though Bangkok Bank is not ready to enter the hire-purchase (lease-to-own) business, it has developed a product called Bualuang Poonphol for First Car to help it become more familiar with the car-loan market. “We are learning about the auto-loan market in terms of secured loans, while other retail loans have been extended as well. Even though our share in the retail segment is modest, the annual return continues to increase,” executive chairman Kosit Panpiamras said yesterday. The product launched three months ago is part of specific-purpose loans, not hire-purchase loans, because the conditions are different. The bank has no plan to do hire-purchasing because it wants to study the market carefully, but it sees the need to test the market in preparation for a new cycle of car-loan demand. (

Comment: this is THE most conservatively run bank in thailand, but this news must be a negative for the smaller financial institutions (ie kk, thanachart) who don’t have the asset base the size of BBL


MAKRO price jumps on speculation on takeover by CPALL —Share prices of Siam Makro, the listed operator of Makro cash-and-carry wholesale centres, have jumped 53 per cent since the beginning of the year on takeover speculation. And the speculation looks more real, having CP All at the centre of the scene. Siam Makro yesterday asked the Stock Exchange of Thailand to suspend trading of its shares until today because of the rumour of a takeover bid by CP All, a retail arm of Charoen Pokphand Group. The request was made after the Siam Makro share price surged dramatically last week. The company expected to provide material information that might effect the share price and/or the decisions of shareholders and general investors. (

Comment: SEC if you want to catch inside information traders just have a look at who bough MAKRO shares in the past 3 weeks, it’s not that difficult to figure out that the news has been out around for a while. Now the deal itself is ambitious, but to us is similar in grandeur as to when bigc bought Carrefour


Negotiations end suit — Some time ago, the New Zealand Commerce Commission (NZCC) filed a lawsuit against THAI alleging that THAI and 13 other airlines violated the 1986 Commerce Act. THAI entered into settlement negotiations with the NZCC, and on 22 April 2013, the court permitted THAI to pay a penalty plus the NZCC’s legal cost at NZD2.96mn. (SET)


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