Moody's: Asian oil and gas companies well placed to respond to lower oil prices
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Most Asian oil and gas companies, with their ample liquidity, remain well positioned in the face of lower oil prices, but their standalone credit quality will deteriorate, according to Moody's Investors Service.
“The steep drop in crude oil prices since mid2014 will materially reduce the earnings and cash flows of these companies and weaken their credit metrics in 2015,” says Vikas Halan, a vice president and senior credit officer in Singapore.
In particular, those with a higher reliance on earnings from oil – specifically, Pertamina (Persero) (Baa3 stable), China National Offshore Oil Corporation (Aa3 stable) and PTT Exploration and Production (Baa1 stable) – are expected to see their credit quality weaken the most, given Moody’s oil price assumptions.
House-building market to take “V-shape”
Jirawat Maleerak, vice president of Natural Home, said the company forecasts that the market this year will grow by about 10 per cent. However, if the home-building market gets clear support from the government, the market will grow faster.
Natural Home saw sales last year at about the same level as in 2013, at Bt80 million. Though this was short of its target of 10-per-cent growth, dampened by many factors, the company was satisfied, as it was able to retain its market base.
“We have set a 2015 target to grow by around 20 per cent to sales of Bt100 million, which we believe we can achieve, as we have marketing strategies to expand housing segments and service locations. Our market segments include units priced at Bt2 million to Bt3 million, which account for 30 per cent, Bt4 million to Bt5 million, representing 40 per cent, and Bt5 million to Bt10 million for 30 per cent,” Jirawat said.
Vizrt signs virtual studio deal with BEC
Vizrt Ltd announced yesterday that it had signed a deal worth US$920,000 with BEC Multimedia (Channel 3) for the use of Viz Virtual Studio products in Thailand.
The broadcaster, which has been a long-time customer of Vizrt, will use Viz Virtual Studio to produce news shows.
“We are very pleased that BEC Multimedia continues to expand their already extensive Vizrt infrastructure,” Vizrt CEO Martin Burkhalter said. “This new deal strengthens our commitment to the broadcaster as a valuable partner in Thailand with whom we look forward to collaborating for many years to come.”
BEC chose Vizrt due to their successful long-term relationship, trust in products and reliable after-sales support.
