briefs
Play
Listed firms attend Corporate Day in HK
Six listed companies joined “DB Access Thailand Corporate Day” in Hong Kong yesterday, hosted by Tisco Securities and Deutsche Bank.
PTT, PTT Exploration and Production, Bangkok Bank, Thai Oil, Thai Union Frozen Products and Tisco Financial Group together account for one-fourth of the Thai stock exchange’s market capitalisation.
Addressing the 157 institutional investors gathered at the Island Shangri-La Hotel were Kittiratt Na-Ranong, a deputy prime minister and also finance minister, and Charamporn Jotikasthira, president of the Stock Exchange of Thailand.
“The response is positive, thanks to Thailand’s positive economic outlook and increasing political stability. These are good signs that investors may invest more in Thai shares,” said Paiboon Nalinthrangkurn, CEO of Tisco Securities.
The fund managers had group and one-on-one meetings with the Thai companies’ chiefs, to get updates on the business outlook for the next six to 12 months.
Housing launches hit
Only 90,000 residential units are expected to be launched this year in Greater Bangkok, after last year’s floods that delayed projects and crumpled demand.
About 50,000 units will be condominiums, according to the Real Estate Information Centre.
As of Wednesday, only 8,800 units have been started this year.
Last year residential registrations in the metropolitan area dropped 24 per cent to only 81,500 units from 107,000 units in the previous year.
Housing transactions, including resales, also dipped: in units by 17 per cent and value by 32 per cent.
Last year, only 147,200 units worth Bt315 billion were transferred to owners, against 178,100 units valued at Bt392 billion in the previous year.
UK trade official here
The British minister of state for trade and investment is visiting Thailand today, as part of a four-day trip to Southeast Asia.
He has also visited Singapore and Malaysia. All three countries have been identified by the UK as high-growth markets and all are enjoying strong economic growth rates.
On his first visit to Thailand as minister of state, Lord Green will meet with Commerce Minister Boonsong Teriyaphirom to discuss opportunities for Thailand and the UK to work together, combining both countries’ skills through partnership and the exchange of expertise.
Green will also meet with British businesses operating here and those interested in bidding for work on rebuilding infrastructure. The need is pressing after last year’s floods damaged large parts of the country.
