Stocks in the news (mtc, psl, scb) 08.11.19
MTC sees record high 4Q on seasonal, reaffirms 25-30% loan port growth, <2% NPL, sets 20-30% revenue and profit growth target for next year.
Comment: A friend in this industry has gently informed me that my thoughts of MTC and SAWAD are lying on their NPLs are incorrect. He informed me that the real default rate is ~3%, with 50% of the defaults being repossessed and 1.5% NPLs.
PSL: Dry Bulk: BDI -6.85% 105pts to 1,428 level.
Comment: A volatile sector, but I still see the next 6-12 months being amazing for shippers, even dry bulk ones like PSL.
SCB took lead in cutting lending rate and fixed deposit rate by 25 bps, following the cut by BOT on Wed, others are likely to follow. SCB announced strategic partnership with Spore QR payment network, Liquid Group, to expect cross-border transactions from travelers & merchants.
Comment: And boom, good bye NIMs
Xavi
Are these finance companies held to the same strict conditions as banks for loan classifications? I just don’t believe that segments of the population that are deemed to risky by banks are less likely to default than bank customers.
DON
Some news seems to be hitting my favourite dividend paying Funds: e.g. EFATIF, DIF, SUPEREIF. I would appreciate it if you have any info that I have not seen. I am considering taking advantage of it, as I have a strong cash position. tia. Don.
Xavi
Looks like a general market sell off, awc tanking after they removed the manipulation, eer I mean stabilization measures..
DON
Thanks, Pon – youre a real gent 🙂 I love those tax free yields.
Pon
Blue Horseshoe loves Anacott Steel
Pon
All REITS regionally taking a hit. Started in Singapore last week, the US bond yields have gone from 1.2% to 1.9%