What happened this week 08/07 – 12/07

Thailand

  • Spending slump hits direct sales – The direct-sales industry is expected to grow by 5% to about Bt73.5bn this year, down by half from the norm over the past decade, says the Thai Direct Selling Association. President Kittawat Ritteerawee said the slowdown in consumer spending in the sector has been evident since the first quarter as people carefully considered purchasing products such as beauty and food supplements. (Bangkok Post, 12/07/13)
  • MPC keeps policy rate at 2.5% — The central bank’s Monetary Policy Committee (MPC) kept its policy rate unchanged yesterday at 2.5% to maintain financial stability amid weakening domestic demand and exports plus the global economic slowdown. (Bangkok Post, 11/07/13) Continue reading What happened this week 08/07 – 12/07

Stocks in the news (bay, demco, ktb, rs, tisco, top, wha) 12.07.13

BAY: Consumer unit eyes regional growth. Krungsri Consumer, the personal finance arm of Bank of Ayudhya (BAY), will continue expanding its retail banking business regionally. The move is in line with the business strategy of Bank of Tokyo-Mitsubishi UFJ (BTMU), which will soon become the main shareholder in BAY. The managing director of Krungsri Consumer, said BTMU will use the Thai bank to expand its own consumer banking business in Southeast Asia ahead of the launch of the Asean Economic Community (AEC) in 2016. The Tokyo-based BTMU has already made its presence felt in several regional markets including Thailand but with a focus on wholesale banking. (Source: Bangkok Post)

Comment: An expansion for Thai banks to its neighbours Cambodia and Laos specifically make a lot of sense at the moment, hard to see Thai banks being able to compete in M’asia, Singapore, and Indo.

DEMCO to take WEH capital increase — DEMCO raised Bt800mn to acquire a 4% stake in WEH’s capital increase. Management targets revenues for the year to be no less than Bt7bn. (Khao Hoon, 12/07/13) Continue reading Stocks in the news (bay, demco, ktb, rs, tisco, top, wha) 12.07.13