What happened this week 30/09 – 04/10

A summary of the week’s major headlines both in Thailand and abroad

Thai Economy

  • MoC cuts export target — The MoC has reduced its export target to 4% growth in 2013, a decrease of US$15bn in export value. It forecasts export growth of 5-7% in 2014. Exports to Japan were cut to 0% from 5%. (Krungthep Turakij, 30/09/13)
  • OIE predicts upturn in exports in fourth quarter- Exports are expected to improve for the rest of the year, but the key electronics sector will still show a year-on-year decline, says the Office of Industrial Economics (OIE). (Bangkok Post, 28/09/13)
  • BoT may revise GDP growth forecast downward again: director – The Bank of Thailand may cut its forecast for national economic growth for 2013 in October, despite economic figures in August showing the economy had begun to stabilize. (The Nation, 01/10/13) Continue reading What happened this week 30/09 – 04/10

Stocks in the news (bay, bland, cpf, epco, ps, spcg, stanly) 04/10/13

BAY

Bangkok Branch of Tokyo-Mitsubishi UFJ takeover approved by BoT — BAY reports that the Bank of Thailand has approved the entire business transfer of the Bank of Tokyo-Mitsubishi UFJ Limited, Bangkok Branch to BAY. This will take place within one year from the date on which Bank of Tokyo-Mitsubishi UFJ becomes a shareholder of BAY. (SET, 04/10/13)

Comment: The action has already been priced in.

BLAND

Bt3bn gain on sale to REIT — Mr. Anand Kachanapat said that BLAND will book an extra gain of Bt3bn from the sale of Bt19.bn in assets to its REIT in Oct-Nov. The REIT news led to a surge in BLAND’s price of 8.97% yesterday. (Khao Hoon, 04/10/13)

Comment: The news of this REIT is nothing new and we think its also been priced in for most of the year.

CPF

Safe chicken, rumors false — CPF has reassured the public that chickens from CP farms are safe and that rumors about bird flu in its farms are false. Its poultry business will grow by 15-20% this year, with poultry exports growing 10-15%. It expects revenues from fresh and processed broilers to reach Bt14bn. (Khao Hoon, 04/10/13)

Continue reading Stocks in the news (bay, bland, cpf, epco, ps, spcg, stanly) 04/10/13