INVESTOR CONFIDENCE IN RISES OF SET
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Investor confidence in the Stock Exchange of Thailand rose for the first time in five months, according to the Federation of Thai Capital Market Organisations.
The federation’s monthly Fetco Investor Confidence Index was compiled from a survey of SET retail investors as well as local and foreign institutional investors with regard to their opinions and levels of confidence for the next three months.
The latest Investor Sentiment Index shot up to 94.30 points from the bearish level of 71.90 in last month’s results, though it is still a “neutral view”.
A level of 81-120 indicates a neutral view on whether the Thai stock market will improve over the coming three months, while a level of 41-80 reflects a bearish view.
Most investor groups expressed better sentiment, though foreign investors showed the most improvement, with the index skyrocketing to 100 from just 10 in the previous survey.
The banking sector attracted the most interest while steel stocks were the least attractive.
CEMEX DIVESTS ITS
THAI OPERATIONS
Mexican cement maker Cemex has signed an agreement to sell its operations in Bangladesh and Thailand to Siam City Cement for about US$53 million (Bt1.9 billion).
The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes, the company said.
The closing of this agreement is subject to the satisfaction of standard conditions for this type of transactions.
“We currently expect to finalise this divestiture during the second quarter of 2016,” it said.
Cemex is a global building-materials company providing high-quality products and reliable services to customers and communities in more than 50 countries.
It has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements and efforts to promote a sustainable future.
TAT TO OPEN OFFICE
IN PRAGUE
The Tourism Authority of Thailand plans to open an office in Prague, as it sees a significant market in the Czech Republic for the Thai tourism industry.
The office is scheduled to open in August and will join TAT’s network of 35 offices in Thailand and 27 overseas.
TAT governor Yuthasak Supasorn revealed the plan to open the TAT Prague Office at the international travel trade show “ITB Berlin”.
“The German and European markets remain very important to us because they have the highest length of stay, more than twice the overall average.
“However, in line with our new strategy to stress a ‘quality leisure destination’, we will need to find ways to improve the tourism products and overall travelling experiences to European visitors,” he said.
Also, TAT plans to tap the potential of the Eastern European markets – the Czech Republic, Bulgaria, Hungary, Poland, Romania, Slovakia and Ukraine.
This is in line with the strategy to target emerging source markets within Europe.
