#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Bangkok bus rehab plan calls for suspension of Bt130bn debt

EconSep 15. 2020

By The Nation

A proposal to suspend repayment of the Bangkok Mass Transit Authority (BMTA)’s Bt130 billion debt to the Finance Ministry will be put to the Cabinet next month, deputy PM and Health Minister Anutin Charnvirakul said on Monday.

The proposed seven-year debt moratorium is part of the Land Transport Department’s rehabilitation plan for the Bangkok bus operator. The plan was agreed at a BMTA meeting chaired by Anutin yesterday.

Under the plan, the Finance Ministry will suspend repayments provided that the state-run BMTA begins operating at a profit within seven years.

Bangkok city authorities say the heavy debt burden prevents the operator from functioning effectively.

The BMTA and its executives will face a performance evaluation once the Cabinet approves the rehab plan and debt suspension. If the operator is unable to turn a profit after its debt burden is lifted, privatisation might be the next step.

” I think it’s more of a reset. This [repayment suspension] will stop the bleeding and give the BMTA breathing space from the interest burden. Then it can find a way to manage the existing debt, for instance by gradually paying it off in the long term, or whatever is in the final proposed plan,” said Anutin.

The BMA had accumulated problems for more than four decades and could not solve the issues using the same methods, he added.

The rehab plan also covers cutting the number of bus routes to 162, safeguarding the BMTA’s priority rights for licences to operate new or changed routes, and a flat one-day fare, previously reported as Bt30.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Energy Conservation Fund on Bt10bn mission to create jobs

EconSep 15. 2020

By The Nation

New criteria for organisations who wish to apply for the Bt10-billion Energy Conservation Promotion Fund next fiscal year should be finalised by the end of this month, said Energy Ministry permanent secretary Kulit Sombatsiri.

The new criteria, which focus on creating jobs in local communities, will be presented to the National Energy Policy Committee in October.

Kulit mentioned funding had hit obstacles this fiscal year, including slow project screening. Applicants had shown a lack of experience in writing reports for funding, he explained.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Delay in 2021 budget set to affect investment

EconSep 15. 2020Dechapiwat Na Songkhla, director of the Budget Bureau 

By The Nation

The Budget Bureau admitted that though the delay in the annual budget for fiscal 2021 will delay capital spending, it will have a limited impact on investment projects.

The bureau will on Tuesday (September 15) explain to the Cabinet why its spending plan for fiscal 2021 cannot be released on October 1 as scheduled, said Dechapiwat Na Songkhla, director of the Budget Bureau. 

According to the budget law, despite budget delay for the fiscal 2021, the government could spend Bt800 billion, or 25 per cent of the budget for fiscal 2020. So, it should have adequate funds to pay state officials and cover current spending until the end of the year, he said. 

However, he said, capital spending on some new investment projects may be delayed, while some state agencies have also been advised to put off expenditure on things such as overseas trips.

The Bt3.3-trillion budget bill will undergo its second and third reading in the House of Representatives on September 16-18 before being sent to the Senate on September 21 and then presented to His Majesty for approval. 

Earlier, Deputy Prime Minister Wissanu Krea-ngam said the budget will be about a month late.

In the fallout from Covid-19, the economy is projected to contract between 7 and 10 per cent this year. 

The last budget was also delayed for six months due to a delay in the formation of the coalition government after the 2019 general elections.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Confidence in Thai stock market drops as govt slow in rolling out stimulus measures

EconSep 15. 2020

By The Nation

The Investor Confidence Index fell by 21 per cent, the lowest in five months, due to political unrest and delay in the rolling out of economic stimulus measures, the Federation of Thai Capital Market Organisations (Fetco) said.

The index for the next three months fell by 21 per cent to 67.52 points, the lowest in five months since March, when confidence among foreign investors was the lowest.

Paiboon Narintarangkul, Fetco’s chairman, said the factors causing uncertainty among investors are the local political situation, which is causing the Thai stock market to underperform compared to other Asian indices even though Thailand has been able to successfully contain the spread of Covid-19.

“Another factor pressuring the Thai stock market is the government’s slowness in rolling out economic stimuli, such as the Bt400 billion budget to stimulate the economy and Bt500 billion in soft loans,” he said.

“We expect the political unrest to pressure the index in the short term as the government is likely to respond positively to protesters’ demand, such as amending the charter. However, it should also accelerate stimulating the economy as soon as possible.”

He added that individual and securities investors were concerned about the political unrest, while institutional investors were concerned about the state of the economy.

“Foreign investors are also concerned about the US Federal Reserve’s monetary policy and Europe’s economy, which has resulted in a drop in confidence,” he added.

“Investors are also prioritising investment in defensive stocks such as food and telecommunications, while reducing investment in banks and tourism stocks.”

He went on to say that the Stock Exchange of Thailand (SET) Index was underperforming compared to other Asian indices and has over the year until August contracted by 17 per cent compared to the MSCI Emerging Markets Index, which only contracted by 1.5 per cent.

“In August alone, Thai stock index contracted by 1.3 per cent, while other Asian indices, such as Singapore, Indonesia and Vietnam were on the rise,” he added.

Meanwhile, Ariya Tiranaprakit, executive vice-president of the Thai Bond Market Association, said the market expects the Monetary Policy Committee to maintain its interest rate at 0.5 per cent as the government issues measures to stimulate the economy.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

First phase of Udon Thani industrial estate to be ready next year

EconSep 14. 2020Somjin Piluek, IEAT governor 

By The Nation

The Udon Thani Industrial Estate is more than 50 per cent ready, and Phase 1 should be ready for service next year, according to the Industrial Estate Authority of Thailand (IEAT)

Somjin Piluek, IEAT governor, said that once the industrial estate is fully open it should bring in about Bt22 billion in investment and create at least 20,000 jobs, generating up to Bt2 billion in annual revenue for the government.

This industrial estate has the geographical advantage of being linked up to an extensive transportation network both within and outside the country. Routes R12, R9 and R8, which includes the double-track high-speed railway from Bangkok to Nong Khai, can accommodate the transportation of goods between Thailand and southern China as well as to Laem Chabang Port and the Eastern Economic Corridor (EEC).

The IEAT has conducted a feasibility study on projects that will benefit the area, such as a dry port in Udon Thani, a railway linking the project area to the rest of the country as well as the option of providing special incentives to investors.

Industries targeted for this project include rubber, agricultural products, auto parts and auto assembly, construction materials, electronics and steel.

Somjin said this is the first industrial estate in the Northeast, though it is the 56th in the country.

Apart from being very close to the Udon Thani airport as well as the biggest highway and railway, this industrial estate can also be linked up with CLMV countries, namely Cambodia, Laos, Myanmar and Vietnam.

The industrial estate’s logistics system will be developed in two phases, with the first phase (2020-2022) involving the construction of warehouses as well as container storage and off-loading areas. Permission is also being sought to establish a free trade zone.

The second phase (2022-2025) will include the development of a rail system, freight forwarder as well as a high-speed railway that links Udon Thani with neighbouring countries.

The industrial estate, located in Muang district’s Non Sung area, covers approximately 2,170 rai, of which 1,635 rai is up for sale.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET sinks further as other Asian stocks rise

EconSep 14. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,272.34 on Monday, down 7.62 points or 0.60 per cent. Total transactions amounted to Bt40.463 billion with an index high of 1,287.35 and a low of 1,270.59.

In the morning session, an analyst at Krungsri Securities expected the index to fluctuate between 1,275 and 1,290.

“Although the index gained positive sentiment from the recovery of foreign indices, uncertainty over the domestic politics, especially with student protesters planning a political rally on September 19, will cause market volatility,” the analyst said.

“Also, investors will delay trading until they hear the outcome of the US Federal Open Market Committee meeting on September 15-16.”

The 10 stocks with the highest trade value today were CBG, CPF, CPALL, MINT, PTT, AOT, STGT, KBANK, TVO and ASIAN.

As of 4.30pm, the price of oil dropped by US$0.37 or 0.99 per cent to $36.96 per barrel, while gold rose by $5.60 or 0.29 per cent, to $1,953.50 per ounce.

Other Asian indices were on the rise:

Japan’s Nikkei Index closed at 23,559.30, up 152.81 points or 0.65 per cent.

China’s Shang Hai SE Composite Index closed at 3,278.81, up 18.47 points or 0.57 per cent, while the Shenzhen SE Component Index closed at 13,021.99, up 79.04 points or 0.61 per cent.

Hong Kong’s Hang Seng Index closed at 24,640.28, up 136.97 points or 0.56 per cent.

South Korea’s KOSPI Index closed at 2,427.91, up 31.22 points or 1.30 per cent.

Taiwan’s TAIEX Index closed at 12,787.82, up 111.87 points or 0.88 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Investors in tech shares unfazed by fall in Nasdaq, industrial indices

EconSep 14. 2020

By The Nation

Cash continues to flow into technology mutual funds despite the sharp fall in Nasdaq and other industrial indices, as it is considered a mega-trend for long-term investment, experts say.

Theeranat Rujimethapass, president of Tisco Asset Management, said that Nasdaq and other industrial indices fell sharply due to short-term market correction, as the share prices in the technology group had risen more than other groups. He added that these indices would rebound from injected liquidity, which was likely to flow into technology shares.

“This is an opportunity to invest in technology shares because they are considered a mega-trend for long-term investment,” he said. “We have found that cash is still flowing into technology mutual funds, although some investors sold some of these stocks to take profit last week.”

Suradech Kietthanakorn, managing director of Kasikorn Asset Management, said that since the sharp fall in the Nasdaq Index, cash was still flowing into the company’s technology mutual funds because it is a stock investors have high expectations from.

“However, we advise investors to evaluate the situation before investing in technology shares because they have a concentration risk,” he said. “Also, investors should diversify investment in line with acceptable risks.”

Somchai Amornthum, executive vice president of Krungthai Asset Management, said the Nasdaq index fell sharply due to the decline in the prices of some shares, such as Apple and Microsoft, which caused a 40 per cent impact on the index.

“However, we believe that Apple and Microsoft will be good choices for investment in the long term because of strong fundamentals,” he said.

He advised investors to diversify risks because technology shares may face volatility in the short term and concentration risk.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Tipco Asphalt shares tumble as US sanctions block purchase of Venezuelan oil

EconSep 14. 2020

By The Nation

The share price of Tipco Asphalt (TASCO) plummetted by 14.64 per cent in morning session on Monday (September 14), the lowest in almost four months, after the company decided to hold off buying oil from Venezuela due to US sanctions from the end of November.

TASCO shares were quoted at Bt20.40 per share on Monday morning, falling from Friday’s close of 23.90.

The move caused the company to temporarily close the oil refinery in Malaysia’s Kemanan until the US sanctions on Venezuela are lifted or it procures oil from other countries instead of Venezuela.

An analyst at Yuanta Securities said this factor had seriously impacted TASCO because 50 per cent of asphalt sales, up to 2.2 million tonnes per year, came from Venezuela’s oil, while another 50 per cent came from oil from third parties.

“The freeze in the procurement of Venezuelan oil will hit the company’s output. Although the company can procure oil from other countries, the company’s cost would increase and their output would also be lower. Production of asphalt from other oil sources cannot match Venezuela’s oil,” the analyst said.

The analyst explained that TASCO’s oil capacity was currently at 4.1 million barrels of which 2.3 million barrels came from eight oil silos and 1.8 million barrels came from rented floating storages whose contract will expire in February 2021.

“This factor would not impact TASCO’s normal profit in 2020 because the company can still produce asphalts until the first quarter of next year, but its normal profit in 2021 would drop to between Bt1.5 billion and Bt1.8 billion if the company cannot procure oil from other countries, causing the share target price at the end of 2021 to drop by approximately Bt12 to Bt15 per share from the current target price of Bt31 per share,” the analyst said.

“However, the company’s normal profit in 2021 would move to between Bt2.2 billion and Bt2.5 billion if the company can procure oil from other countries, causing the share target price at the end of 2021 to drop by approximately Bt5 to Bt8 per share.”

The analyst advised investors to avoid TASCO’s shares at the moment.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price rises, bucking the global trend

EconSep 14. 2020

By The Nation

The price of gold rose by Bt150 per baht weight in morning trade on Monday (September 14), the Gold Traders Association reported.

As of 9.28am, the buying price of a gold bar was Bt28,750 per baht weight and selling price Bt28,850 while gold ornaments were priced at Bt28,227.92 and Bt29,350, respectively.

At close on Saturday, the buying price of a gold bar was Bt28,600 per baht weight and selling price Bt28,700, while gold ornaments were Bt28,091.48 and Bt29,200, respectively.

Hong Kong gold price dropped by HK$10, opening at HK$17,950 (Bt72,418.81) per tael this morning, the Chinese Gold and Silver Exchange Society reported.

The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$16.4, or 0.83 per cent, closing at $1,947.9 (Bt60,908.36) per ounce on Friday.

Gold moved to negative territory on Friday, as investors sold the precious metal to take profit, while it was pressured by strong US economic data.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Domestic political situation limits SET’s upside potential

EconSep 14. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 3.74 points, or 0.29 per cent, to 1,283.70 in morning session on Monday (September 14).

An analyst at Krungsri Securities expected the index to fluctuate between 1,275 and 1,290.

“Although the index gained positive sentiment from the recovery in foreign indices, uncertainty over the domestic political situation, especially with student protesters planning a political rally on September 19, would cause market volatility,” the analyst said.

“Also, investors would delay investment to follow the discussions of the US Federal Open Market Committee meeting on September 15-16.”

He recommended that investors buy:

▪︎Stocks whose third-quarter performance will improve, such as TU, ASIAN, COM7, CHG, PTG, and PLANB.

▪︎Stocks that would benefit from the launch of the new iPhone model on September 15, such as COM7, SYNEX, SPVI and CPW.

The SET Index dropped further on Friday to close at 1,279.96, down 10.93 points or 0.85 per cent. Total transactions amounted to Bt44.155 billion with an index high of 1,296.13 and a low of 1,279.33.