In decrying corruption, elites must show consistency

Another good op-ed in the Bangkok Post this clearly stating the inconsistencies in Thailand today.

So what does this mean for the market? Well my viewpoint is very simply how many more negative events can hit Thailand? Far and far less, yes there is a fear of the Red Shirts under Jatuporn creating more noise and protests in Bangkok, but thats really it, yes we know the thai economy is rubbish at the moment, but that’s now in the past, each and every negative factor that could’ve hit Thailand already has and now things can only get better.

One of the most ridiculous court cases in our history must be the Democrat Party’s attempted petition to have the Feb 2 election annulled on the grounds that the poll could not be completed in one day. The election could not be completed because firstly, the Democrats boycotted it and secondly, because anti-government protesters physically blocked polling booths. Therefore, it’s rather like an arsonist setting fire to their own house and then blaming the fire brigade for not putting out the fire in time.

Source: Bangkok Post

What happened this week 17/03 – 21/03

Thailand

  • Private sector hit by slowing domestic consumption — Businesses in the private sector believes that if no government can be formed in 1H14, Thai GDP growth will only be in the range of 1-2%. (ASTV Manager, 18/03/14)
  • Exports beacon of hope for GDP growth – Despite lifting the emergency decree and adopting a looser monetary policy, exports are deemed the main beacon of hope for economic growth this year amid the prolonged political stalemate, according to economists. (Bangkok Post. 20/03/14)
  • GDP forecast may be trimmed again, NIDA ‘baseline scenario’ sees economy expanding by less than 3% – The Finance Ministry’s Fiscal Policy Office is likely to cut its 2014 economic-growth forecast for a second time – this time to below 3.1% – after witnessing an 18% MoM contraction in tourist arrivals in February. (The Bangkok Post, 20/03/14) Continue reading What happened this week 17/03 – 21/03

Stocks in the news (age, bay) 21.03.14

AGE

AGE targets revenue growth of 20% YoY in 2014 to Bt6bn and expects sales volume of 4mn tons. Management guides to 1Q14 revenue growth of 50% YoY after expanding to China and India. (Khao Hoon,, 21/3/14)

Comment: The issue for AGE is that their margin’s as selling prices of coal have been in a decline for the past few years

BAY

BAY targets 2014 SME loans at Bt208bn, +13% YoY. BAY and BTMU will focus on clients in the auto parts and electronics industry. It aims to be in the top three in the SME loan market.(Thun Hoon, 21/3/14)