And here we go “Thai GDP Growth Slows”

And here we go on the merry go round, yes Thailand’s GDP was slow in 4Q13, my thoughts?

  • one – politics,
  • two – No matter what 4Q13 vs 4Q12 was going to look rubbish anyways,
  • three – it will recover, its not different this time, political issues will disappear (perhaps only temporarily), and business will continue as per normal,
  • four – Market is up today despite this news, nearly +2% for the year already, not too shabby.

Thailand’s economy grew at the slowest pace in almost two years last quarter as political unrest hurt local demand and tourism, increasing pressure on the central bank to cut interest rates and support expansion. 

Gross domestic product rose 0.6 percent in the three months through December from a year earlier, the National Economic & Social Development Board said in Bangkok today. The expansion was the smallest since the first quarter of 2012,

Source: Bloomberg

Stocks in the news (ap, dtac, hemraj, jmart, lpn, thcom, uac) 17.02.14

AP

AP preparing to launch 19 new projects worth Bt23.7bn. It targets 2014 revenue of Bt21bn. It will launch SOUL worth Bt920mn focusing on high-end area in Ratchada. (Khao Hoon, 17/2/14)

Comment: Old news, however it is funny to see the property sector actually being one of the best sector performers this year

DTAC

DTAC to will pay dividends again in 1Q14 with depreciation expenses expecting to decrease, thereby helping its performance this year. Its 4G service will also start in 2Q14. The company says it is undertaking a study on leasing telecommunication towers from TRUEIF. (Khao Hoon, 17/02/14)

DTAC will double 3G capacity — DTAC plans to double the capacity of its 3G networks with an investment budget of Bt13bn this year. It expects revenue to hit a record high of Bt100bn in 2014, helped by expected extraordinary growth of 3G migration and the proliferation of smartphones. (Bangkok Post, 14/02/14)

Comment: Is Telenor just making DTAC divvy everything out? The TRUEIF leasing would be a massive positive for TRUEIF, its the only issue that we have with those towers under the fund. 

HEMRAJ

HEMRAJ targets land sale of 1600 rai, though the political situation has pressured foreign investors’ confidence. It continues to expand its industrial park to support new clients. It will invest Bt6bn to set up eight SPP power plants in 2014. (Tun Hoon, 17/2/14) Continue reading Stocks in the news (ap, dtac, hemraj, jmart, lpn, thcom, uac) 17.02.14