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Unexpected Tanayong’s BTSC takeover suprises analysts

Surprised brokers yesterday urged property tycoon Keeree Kanjanapas to reveal the real purpose of the unexpected takeover of Skytrain operator Bangkok Mass Transit System (BTSC) by his property firm, Tanayong, and the consequent backdoor stock-market listing of the mass-transit company.

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Surprised brokers yesterday urged property tycoon Keeree Kanjanapas to reveal the real purpose of the unexpected takeover of Skytrain operator Bangkok Mass Transit System (BTSC) by his property firm, Tanayong, and the consequent backdoor stock-market listing of the mass-transit company.

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Tanayong’s BTSC takeover amazes analysts

Thailand government’s first stimulus package, may have helped limit the negative multiplier effect on household consumption.

Key risks to the outlook are (i) political uncertainty and (ii) the timing of the withdrawal of fiscal and monetary stimulus. Increased political tensions may have a long-lasting impact on investment, and withdrawal of stimulus (in Thailand and the advanced economies) must be precisely timed to avoid macroeconomic imbalances (including new asset bubbles) while also ensuring that the recovery is on a sufficiently solid footing.

The approved Financial Institution Business Act (FIBA) facilitates increase in foreign ownership in Thai foreign institutions. The Financial Institution Business Act (FIBA) became effective on 3 August 2008 as planned. The FIBA allows financial institutions to raise the foreign limit from 25 percent to 49 percent with permission from the BOT and foreign investors may own more than 49 percent equity stake in Thai banks with permission from the Ministry of Finance and recommendation by the BOT. The increase in foreign limit would encourage Thai banks to seek foreign strategic partners to strengthen the capital base, improve core banking business, IT platform, know-how and add inorganic growth to Thai banks.

Stimulus programs were implemented in Thailand throughout 2009, confirming improved expectations, boosting demand and supporting the momentum of the economic recovery.

The export collapse in 2009 has been the most severe in Thailand’s recent history. The magnitude of the decline has been unprecedented. Since 1957, there have been nine episodes where exports contracted for at least six consecutive months. Losses to date are more than double those in the 1997-98 Asian financial crisis and the 2001 “dot.com” bubble turmoil. Thailand’s export performance tracked developments in world merchandise trade, which dropped around four and eight percent in the 1997 and 2001 meltdowns, respectively, but 22 % so far during the current global financial crisis.

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Asean

ASEAN economies poised for robust recovery with 6% real GDP growth in 2021

The six largest ASEAN nations (Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam) are expected to witness positive real GDP growth rates in 2021 according to Global Data

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Receding daily COVID-19 cases, rollout of vaccines, increased spending by the governments along with easing of monetary restrictions will help revive the Association of Southeast Asian Nations (ASEAN*) economies in 2021 with their real GDP forecasted to rise by 6%, says GlobalData, a leading data and analytics company.

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Thailand new coronavirus cases -59- down to two digits

Of the new cases, 28 were exposed to the virus while visiting high-risk areas. The province with the highest number of infections is Bangkok (10), followed by Samut Sakhon (7).

Boris Sullivan

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Thailand confirmed 59 new coronavirus cases and one additional death on Wednesday, taking its total infections to 12,653 and fatalities to 71, the first day Covid infections are down to two digits since the beginning of the second Covid-19 outbreak in the country in December.

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Business

Alibaba Initiates $3Bln Partnership with Thai Gov in Support of Thailand 4.0

This is probably the first major milestone for Thailand 4.0 economic plan to upgrade Thai economy : a major commitment of a big private investor

Olivier Languepin

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The e-commerce giant’s executive chairman, Jack Ma, was in Thailand this week and has become the first big name to join Thailand’s plan to upgrade its economy known as Thailand 4.0. (more…)

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