|
|
| • EXCH RATES |
|
Baht/$ 33.49/52
Bid/Ask
|
GOLD |
14,650
- 50
|
|
IN Brief
MARKETS :The new Mtrack energy exchange-traded fund (ETF) will begin trading on the Stock Exchange of Thailand on Aug 7.
The fund, the second ETF to list on the market, will be based on the SET energy and infrastructure index. The initial public offering will be held from July 21-28, with units expected to be priced at 4.50 to five baht each.
Managed by TMB Asset Management, the fund plans to invest in companies such as PTT, PTT Exploration and Production, Thai Oil, Banpu, IRPC, PTT Aromatics, Ratchaburi Electricity, Glow Energy and Esso (Thailand).
Net asset values will be updated every 15 seconds via TMBAM's website at http://www.tmbam.com. Phatra Securities will act as market-maker for the fund.
-
Outlook worsens
CONFIDENCE :The business sector expects to encounter reduced sales and profit this year primarily due to higher oil prices that have affected production and transport costs, and political instability that hurts confidence of consumers and investors.
A survey by the University of the Thai Chamber of Commerce of 400 business operators nationwide from June 25-30 found 45% of respondents expected their sales would fall. As well, 58.2% said profits would drop at year-end.
Thanavath Phonvichai, an economist with the university, said 35.3% of the respondents said their business performance would weaken in the second half, outstripping 33.6% who projected better performance.
He said respondents wanted the government to address oil prices, political instability, foreign exchange stability, and interest rates.
Appropriate rates for diesel and gasoline were proposed at 35 and 36 baht a litre respectively, with an optimum lending rate of 7.5% and exchange rate of 33.30 baht to the dollar.
-
10% drop foreseen
RICE :Export prices of rice from Thailand may drop 10% through August 2009 as global production rises, according to Sunny Verghese, chief executive officer of the Singapore-based trader Olam International Ltd.
"We will get increased production this year," Mr Verghese said. "As harvests come up, you see the restrictions the governments have placed begin to be rolled back, so those export bans will begin to ease."
The export price of 100% grade B white Thai rice, used as a benchmark, rose to a record $1,038 a tonne May 21, as exporters including Vietnam, India and China curbed shipments to damp domestic prices.
The price, set weekly by the Thai Rice Exporters Association, fell 1.5% to a three-month low of $849 a tonne on July 2, from $862 a week earlier. Still, that's more than double the average of $345 in July 2007.
Farmers "quickly react to supply and demand imbalance", Mr Verghese said.
Thailand's rice harvests may jump 29% to 8.9 million tonnes in the May-June period from its previous crop, as record prices encourage farmers to increase planting, the Office of Agricultural Economics said last month. BLOOMBERG
-
Landy promotion
PROPERTY :The home builder Landy Home (Thailand) Co will hold a promotion on July 12 and 13 by offering to build a housing unit at a cost of 10,481 baht per square metre.
The offer is for customers signing contracts for models in the city home series in the Gemini Modern design during the period. The cost of getting a house built will be 3.59 million baht, down from 4.2 million.
Included in the price are extras including cockroach-proofing, laminated wooden flooring, Easy Truss roof structures and heat insulation. For more information, visit http://www.landyhome.co.th
-
14-day yield 3.25%
DEBT MARKET :The Bank of Thailand yesterday auctioned 80 billion baht worth of 14-day bills for an average yield of 3.25799% with bid coverage of 1.18 times.
-
Reserves up $500m
FINANCIAL DATA :International reserves totalled $106 billion as of June 27, up from $105.5 billion the week before, the Bank of Thailand said yesterday.
The net forward position was $18.3 billion as of June 27, compared with $18.9 billion the week before. Net claims on government were 34.8 billion baht, compared with 17.4 billion. Net policy credits were -1,944 billion baht, compared with -1,961.1 billion. Reserve money was 881.3 billion baht, compared with 860.9 billion.
Prev
1
2
3
4
5
6
7
8
9
10
11
12
Next
