Stocks in the news (scb, construction) 10.06.13

SCB

To focus on used car loans. SCB plans to expand more into high-yield used car loans. The bank plans to increase the portion of used car portfolio to 40% of total hire purchase (HP) loans by the end of this year (vs 35% currently). By area, provincial lending is slated to make up 45% of total portfolio (vs 40% currently). Overall, the bank plans to increase its HP loan by 30% this year (from Bt170b in 2012 to Bt220b). (Source: Bangkok Post)

Construction  

Government to air contract bid results — The government will broadcast a live telecast of its presentation of the results of bidding for construction contracts in the Bt35bn water management scheme today. The broadcast on Channel 11 (NBT) will also include details of negotiations between the government and the winning bidders. (Bangkok Post, 10/06/13) 

Comment: During a meeting I had with CNT I learnt why they had pulled out of bidding for these projects, there is one clause within the agreements that stipulates the construction co’s are responsible for purchasing the land themselves for this project…can you imagine the potential sky rocketing costs that may come from this?

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