thegreglowe.com

By GREG LOWE
IN BANGKOK
THAI-LISTED companies saw net profits surge by 42 per cent last year to 446.51 billion baht (S$19.13 billion) on sales totalling 6.39 trillion baht, the Stock Exchange of Thailand (SET) says.
The top-performing industry groups were resources, finance, and property and construction respectively, with PTT, Siam Cement, PTT Exploration and Production, Bangkok Bank [...]

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By GREG LOWE
IN BANGKOK
GOVERNMENT activity and fiscal stimulus remain key factors driving the Thai economy which is showing strong signs of improvement after a rebound in exports to key global markets, says Finance Minister Korn Chatikavanij.
Mr Korn said the government had performed well in its first year in office by facing down the global and [...]

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ASEAN’S 14th summit concluded in Thailand on March 1 having made some significant economic and political developments, but the association’s lofty goals will be hindered by protectionism and its non-interference policy, experts say.
The Asean Cha-am Hua Hin Declaration affirmed the 10 member states’ commitment to free trade, the development of regional economic, social and cultural [...]

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By GREG LOWE
IN BANGKOK
DETERIORATING asset quality is becoming a serious issue for Thailand’s commercial banks, according to new central bank figures, but analysts say the sector can face down the recession due to its strong fundamentals.
Bank of Thailand figures for the last quarter showed that re-entry non-performing loans (NPLs) - failed loans that became NPLs [...]

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By GREG LOWE
IN BANGKOK
AIRLINES are yet to be compensated for losses they suffered when anti-government protesters blockaded Thai airports last year, despite government assurances of financial support.
Some 350,000 tourists were stranded in Bangkok and 3.4 million prevented from entering Thailand when a group called the People’s Alliance for Democracy seized the city’s two international airports, [...]

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By GREG LOWE
IN BANGKOK
THAILAND’S economy may be the worst hit in Asia as the global slump tightens its grip on the region, says Moody’s Economy.com.
Yesterday’s interest rate cut by the Thai central bank will have little impact on productivity, according to analysts, who predict further cuts in the near-term.

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By GREG LOWE
IN BANGKOK
THAILAND’S economy contracted for the first time in a decade when growth in the fourth quarter of last year plummeted to -4.3 per cent. And this year’s GDP growth is likely to drop to -1 per cent, the National Economic and Social Development Board (Nesdb) said yesterday.
Slumping demand in key export markets, [...]

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By GREG LOWE
IN BANGKOK
BANGKOK’S residential property prices will fall by 10 per cent this year, while resort area transactions have ground to a halt, but domestic political turmoil may have prevented a market crash, experts say.
Foreign buyers, who account for around 30 per cent of Bangkok’s condominium market, continue to evaporate, leading developers to [...]

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By GREG LOWE
IN BANGKOK
THAILAND’S electrical and electronics industry - the country’s biggest exporter - will suffer a big drop in export sales this year, costing up to 100,000 jobs, analysts say.
Total electrical and electronics exports will drop 10 per cent to about US$45 billion, according to Sasipen Bhurapanich, an analyst at Kasikorn Research Centre.

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By GREG LOWE
IN BANGKOK
THAILAND will extend a lifeline to small and medium-size enterprises (SMEs) and export-related businesses through an eight billion baht (S$347 million) loan insurance scheme.
Industry and economists have welcomed the anti-recession initiative but say more must be done to boost productivity and win support from commercial banks.

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