Thailand: Commerce Ministry slashes 2014 export target

Bangkok Airways’ IPO imminent

2014/06/10 Puttipong Prasarttong-Osoth, president of the privately-owned regional airline, said the IPO, which may raise 10 billion baht in proceeds, could take place towards the end of July or early August. "Things are looking up from an economic point of view next the National Council for Peace and Order took control, and the stock market has not tumbled as some anticipated, so there is no point in putting off our IPO any longer,'' he told Bangkok Post. The Stock of Exchange of Thailand (SET) has done relatively well next the May 22 coup, showing the Thai capital market is intact and ready to accommodate new issues from companies like Bangkok Airways, he added.

China Mobile to buy into True

2014/06/10 True Corporation's almost decade-old quest for a strategic partner is over as it forged an alliance with world telecom giant China Mobile International Ltd (CMI) to support its ambitious regional increase. Under the agreement, CMI, a all owned subsidiary of China Mobile Communication Co, will pay 28.6 billion baht for an 18% stake in Thailand's leading telecommunications conglomerate, backed by billionaire Dhanin Chearavanont. A partnership arrangement was signed yesterday in Bangkok. authentic will issue 10.077 billion new shares to existing shareholders and CMI at a price of 6.45 baht per share. Assuming full placement, the share issue will raise 65 billion baht in capital for the company.

The constant change in leadership and policy [is] taking a cumulative toll on Thailand’s economy

2014/05/30 Thailand, once prized in Southeast Asia for its relative economic stability, is in danger of inheriting the “Sick Man of Asia” tag. The new coup by the military to end a stalemate between Yingluck Shinawatra’s government and its opponents threatens to send investors scurrying to other nations in the region. The economies of Vietnam, Indonesia, Malaysia, and the Philippines are expected to grow additional than 5 % this year, while Thailand, whose gross domestic product shrank by 0.6 % in the initial quarter, may fall into a recession. Credit Suisse Group (CS) recently estimate that Thai stocks will underperform other markets in the region for one to three years, saying the May 22 “coup leaves investors little reason to remain .” Moody’s Investors Service (MCO) estimated that economic increase could drop 2 to 3 % points from its precrisis 4.5 % if the political instability lasts for a year.

Thailand's factory output dropped for a 13th straight month in April,

2014/05/28 Thailand's factory output dropped for a 13th straight month in April, underscoring the damage political unrest has caused and the tough job the new military government faces reviving an economy that shrank in the initial quarter. The decline was less than estimate. Industrial output in April was 3.9 % lower than a year before, the Industry Ministry said. That compared with March's revised drop of 10.5 and a 6.4 % decline seen in a Reuters poll.