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Thai mutual funds seek PM’s explanation on political and economic situation



Institutional investors from more than 20 Thai mutual funds and insurance companies will meet Prime Minister Abhisit Vejjajiva on Thursday to seek a clear explanation about the current political situation and the overall economy, according to a top securities executive.

Assavanee Tailangka, president of Thanachart Securities Plc, said she would lead the company’s institutional clients to get an explanation and clarification on the implementation of the government’s various policies from the premier so that they could use the information for their investment decision.

She said the political situation is one of the key risk factors to investment in the second half of this year.

“Originally, we intended to invite the premier to give our clients a keynote speech, but the premier is very busy, so we decided to take the clients to meet him by ourselves,” she said.

via Investors seek PM’s explanation on political and economic situation.

Asean markets improved yesterday Indonesia, the Philippines and Vietnam, attracted more foreign buying, while
gains on the Thai market were mainly pushed by domestic buyers.

Thailand was the cheapest in Southeast Asia, trading at a 12-month forward price to earnings of 10.3 times, below Indonesia’s 13.3, the highest in the region.A false perception of political risk has kept foreign investors away from the Thai market.

Foreign investors reversed direction and bought Thai shares worth a net $2.3 million on the day, after selling $49 million in the past two sessions.

Gains in Bangkok on Wednesday included Krung Thai Bank KTB.BK, the second-largest lender, which was up 5 percent after a rating upgrade by Moody’s Investors Service. PTT (PTT.BK) rose 0.8 percent after the top energy firm said a consolidation of its downstream business, eagerly awaited by the stock market, would probably be completed in the first quarter of 2011 rather than the fourth quarter of this year.


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