briefs
SET reports successful first quarter with rises in index, market capitalisation
The Stock Exchange of Thailand gained higher liquidity in trading and set several records during the first quarter of this year due to the improvement of monetary and fiscal policies in various key economies together with improved earnings of Thai listed companies.
At the end of the first quarter, the SET Index closed at 1,561.06 points, up 12.15 per cent from the end of 2012, while its market capitalisation was at Bt13.29 trillion, increasing 12.30 per cent.
The market valuation of the Market for Alternative Investment was Bt188.43 billion, rising 41.66 per cent from last year’s end.
Last month, the SET’s and MAI’s average daily trading volume hit Bt72.81 billion, an all-time high.
In the first quarter, the daily trading volume of the SET and MAI averaged Bt64.26 billion, a 105.61-per-cent year-on-year increase. In March alone, the two markets’ daily trade averaged Bt72.81 billion, a record high, with trade peaking on March 22 at Bt105.57 billion.
In the first quarter, foreign investors posted a net buy of Bt3.91 billion, with March recording a net buy of Bt6.17 billion and an average daily trading volume of Bt12.21 billion.
Listed companies raised Bt19.83 billion through equity, of which Bt3.92 billion was raised by five companies listing on the main bourse and Bt15.91 billion was raised from the secondary market.
TFEX cuts exchange fees
Thailand Futures Exchange, under the Stock Exchange of Thailand, is cutting exchange fees for SET50 Index futures and gold futures.
Kesara Manchusree, managing director of TFEX, said that it and Thailand Clearing House Co had agreed to lower trading and clearing fees (exchange fees) on both SET50 Index futures and gold futures transactions.
The exchange fees for SET50 Index futures and 50-baht gold futures will be cut down from Bt50 to Bt35 per contract, while that for 10-baht gold futures will be lowered from Bt10 to Bt7 per contract, starting on May 2.
“However, for SET50 Index futures contracts maturing in May (S50K13) under a promotional fee of Bt10 per contract, the fee will remain at this promotional rate until the expiry date.”
PTG holds roadshows ahead of IPO
PTG Energy plans roadshows in Bangkok and four other major cities – Hat Yai, Chiang Mai, Khon Kaen and Nakhon Ratchasima – between today and next Monday ahead of its initial public offering.
The operator of PTG fuel stations is in the process of issuing 420 million new shares. Of the total, 386 million shares will be offered to the public.
Nimit Wongjariyakul, executive director of Capital Nomura Securities, the underwriter, said the roadshows should attract a number of investors who are familiar with stock investment.
Proceeds from the IPO will be used to expand the fuel-retail and related businesses and to establish a nationwide network. It will also expand the number of Phan Thai coffee shops and MaxMart convenience stores.
Hilton No 100
Hilton Worldwide is officially to open its 100th property in the Asia-Pacific region, the DoubleTree by Hilton Sukhumvit Bangkok, on April 30.
Situated along Sukhumvit Soi 26 and a short walk from Phrom Phong Skytrain station, the 177-room upscale hotel is poised to attract both business and leisure guests in Bangkok. It was soft-launched last month.
Martin Rinck, president for Asia-Pacific at Hilton Worldwide, will attend the event.
Q1 launches worth Bt80 bn
New residential projects launched in Bangkok and its suburbs in the first quarter amounted to 29,783 units worth Bt80 billion, 78 per cent of them condominiums, according to a survey by the Agency for Real Estate Affairs (AREA).
When these first-quarter launches are combined with existing homes already for sale, the total is 79,942 units worth Bt214.24 billion.
AREA estimates that a total of 119,132 units worth Bt319.76 billion will be launched this year, up 16.7 per cent and 6.65 per cent respectively from 2012.
Trigger Fund
Tisco Asset Management has launched the Tisco US Equity Trigger 8% Fund to cash in on the expected boom in the US stock market if that country’s economy recovers.
The fund targets a return of 8 per cent in eight months. Minimum investment is Bt5,000. The fund’s unit trusts are available from now until April 30.
Saharat Chudsuwan, senior vice president of the fund company, said the US economy had shown signs of progress, reflected by a rise in corporate earnings and improvement in some economic indicators.
Galvanising line
JFE Steel Corporation announced yesterday that its wholly owned subsidiary JFE Steel Galvanizing (Thailand) had begun operating a continuous galvanising line at the company’s production facility in the Hemaraj Eastern Seaboard Industrial Estate in Rayong province.
Commercial production will begin after customer approvals.
Strengthened by its new continuous galvanising line, JFE Steel will support the expansion plans of auto-makers by meeting their requests for local procurement and increasingly sophisticated products and services. The continuous galvanising line will produce hot-dip galvanised-steel sheets with total annual capacity 40,000 tonnes, mainly for automobiles. The sheet thickness ranges from 0.4 millimetre to 2.3mm and widths from 800mm–1,880mm.
JFE Steel Galvanizing (Thailand) was established in November 2008 with capital of US$300 million (Bt8.65 billion).
Paint innovation
TOA Paint has introduced Color World, an innovative paint-mixing technology that enables customers to choose from thousands of colours to create their own unique palette, while offering the cleanest solution in terms of emissions of volatile organic compounds.
The new technology is expected to help boost sales to more than Bt500 million, or 10 per cent of the total sales target of Bt5 billion this year. This will be made up of sales of Bt200 million from base paints for wood, Bt4.2 billion from base paints for architectural uses and Bt600 million from primary paints, said Pongcherd Jameekornkul, president of TOA Paint (Thailand) Co.
No bubble seen
Plus Property, a subsidiary agency of Sansiri, says it sees no sign of a bubble in the real-estate sector, and is revealing tips on boosting property development in provincial markets.
The company has geared up for full-service property-management business and also seeks to develop human resources for business expansion in each region. The company expects revenue in 2013 will rise 11 per cent over last year. As of the first quarter, revenue stood at Bt211 million, up 29 per cent from the same period last year, senior deputy managing director Poomipak Julmanichoti said.
Srithai speeding up overseas stake
Srithai Superware is ramping up its business plan to invest Bt1.7 billion overseas this year and next as costs are lower than projected because of the stronger baht.
President and chief executive officer Sanan Angubonkul said three new plants would be built in Vietnam, Indonesia and India.
The company targets revenue of Bt10.3 billion this year, up 17 per cent from 2012.
Samart-Corrections deal
Samart Telcom signed a contract with the Department of Corrections last week to provide and install protective communication tools.
The contract has total value of Bt1.13 billion (excluding value-added tax). The term of the project for turnkey implementation is 150 days from the date of the contract and payment terms are divided into four lots based on work progress, company president Jong Diloksombat said.
