What happened this week 07/07 – 11/07
Thailand
- Clarification on water projects requested — The National Debt Office will ask NCPO to clarify its stance regarding the water projects and the upcoming Bt3.5tn infrastructure plans. The financing is already in place, but the office said no funds have been withdrawn. (Krungtep Thurakij, 10/07/14)
- ‘Superboard’ sets up three sub-panels – The junta’s “Superboard” set up three panels yesterday to streamline regulations, boost good governance, map out strategies and solve problems faced by state agencies, State Enterprise Policy Office director Kulit Sombatsiri said. (The Nation, 10/07/14)
- NCPO plans to revitalize estuaries transport system, to reduce costs on factory operators in the central provinces. The plan is to dam the Chao Phraya river to raise the level sufficient to accommodate larger ships, in perpetration for the AEC. (Krungtep Thurakij, 10/07/14)
- Investment needed to hit growth target – New investment-focused measures are required for the economy to meet the 2.5% growth target set for this year by General Prayuth Chan-ocha, head of the National Council for Peace and Order, according to the Bank of Thailand. (The Nation, 10/07/14)
- High spending ahead this long weekend — The UTCC estimates this long weekend will see over Bt5.2bn worth of transactions as market conditions have improved. (Kom Chad Luek, 10/07/14)
- NESDB forecasts that GDP should pick up in the second quarter, with annual growth estimates at 2.5%. Government spending under NCPO should contribute 20-25% of the total GDP in 2014, which would more than make up for the poor exports. (Post Today, 09/07/14)
- NACC will push ahead with the rice scheme case even before the NCPO finishes its stock check. The former PM will be the main target, facing allegations that over 2.9mn tonnes of rice is missing. (Krungtep Thurakij, 09/07/14)
- ‘Super Board’ deliberating management pay structure in state enterprises. It is attempting to foster transparency and adopt a better compensation structure, since it believes there are a lot of under-the-table transactions between the management and state enterprises. (Daily News, 09/07/14)
- Increasing labour productivity to be a national goal, as the NCPO looks to tackle global confidence and low labour quality. The NCPO is confident Thailand will start to see results within 5-6 years. (Thai Post, 08/07/14)
- Probe into income, not purchases — The Revenue Department has scrapped its plan to probe into the super rich based on house prices or expensive cars and will instead turn to look at income. The Revenue Department is looking for new ways to boost tax income on the Bt90bn miss in first have tax revenue. (Kom Chad Luek, 08/07/14)
- NCPO to start pursuing corruption and fraud, as the dust settles on the rice scheme. The investigating body continues to find missing rice and bad quality on a daily basis. (Krungthep Thurakit, 08/07/14)
Globally
- US: U.S. mortgage applications increased 1.9% for the week ending July 4 from one week earlier, according to data from the Mortgage Bankers Association. (Xinhua, 10/07/14)
- U.S. Fed eyes October end of asset purchases – The Federal Reserve is considering an exit of its loose monetary policy and will decide to end asset-purchase program at its October meeting if the economy progresses as expected, according to the minutes of the Fed’s latest monetary policy meeting released Wednesday. (Xinhua, 10/07/14)
- The Energy Information Administration, U.S. Energy Department’s statistical arm, said Wednesday U.S. crude stockpiles dropped 2.37mn barrels to 382.6mn in the week ending July 4. However, inventories at Cushing, Oklahoma, rose 447,000 barrels to 20.9mn. (Xinhua, 09/07/14)
- British house prices slip by 0.6% in June: Halifax – Britain’s monthly house prices fell by 0.6 percent in June, registering the fourth monthly price fall since last December, said Halifax, the country’s largest mortgage lender, on Wednesday. (Xinhua, 09/07/14)
- US: The U.S. small business optimism index dropped 1.6 points to 95.0 in June, snapping a three-month run of increases, said the National Federation of Independent Business on Tuesday. The fresh data trailed market expectations. Moreover, U.S. consumer credit increased at an annual rate of 7.4% in May, slower than a revised gain of 10% in the prior month, according to the Federal Reserve. (Xinhua, 09/07/14)
- German exports and imports fall – On an adjusted monthly basis, May exports were down 1.1%, while imports fell 3.4%—the sharpest monthly decline since November 2012, the federal statistics office Destatis said. (WSJ, 08/07/14)
- Japan: Jan.-June business failures at lowest level since 1991 – The number of business failures in Japan during the first half of 2014 dropped 9.7% from a year earlier to 5,073, the lowest level since 1991 for the January-June period, a research agency said Tuesday. (Kyodo, 08/07/14)
- Indian Railways to build first bullet train, speed up select sectors – Apart from building a brand new bullet train line, the Indian government is going to speed up some railway lines between major cities as one of the efforts to improve the rail transport system of the country, said Indian Railway Minister Sadananda Gowda Tuesday. (Xinhua, 08/07/14)
- US: The Conference Board said its June employment trends index increased to 119.62 from a revised 119.03 in May, first reported as 118.58. (NASDAQ, 07/07/14)
- Spain: Spain’s industrial production rose by 0.4% in May compared with the same month in 2013, official figures indicated on Monday. (Xinhua, 07/07/14)
- Germany: German industrial output falls in May – Industrial output in Germany fell for the third consecutive month in May, indicating that Europe’s largest economy will not recover in an even way, official data showed Monday. German industrial production declined by 1.8% in May from the previous month, when the output was down by a revised 0.3%. (Xinhua, 07/07/14)
ray davidson
congratulations on your excellent reports.
EA we all kicking ourselves re this share.i could find only one broker(tns) who did an analysis on ea.
i like SPCG,TPIPL AND CPF- what do you think?
re SPCG profits for 2014 could go up 150%.the share to date has only gone up 30%.do you think there is scope for another upside of at least 20%?
regards
ray davidson
Pon
SPCG – Love it, think its worth around 28-32, had a post ready for it but the stock ran while i was traveling, if this new venture in Japan is serious then there more value to be had here.
EA – I think its actually worth THB 14 based upon all their announced projects
TPIPL – They have new capacity coming online in 2015 – makes the company also worth around THB 14/share
CPF – Tough to call…