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https://www.nationthailand.com/business/40000974

First-quarter earnings still strong for AIS, Dtac, True

Thailand’s three top telecommunication service providers, namely Advanced Info Services (AIS), Total Access Communication (Dtac) and True Corporation (True), have generated a revenue of more than 100 billion baht in the first quarter despite the Covid-19 impact on the economy.

The three firms earned 101.80 billion baht in the first quarter, up 4 per cent versus 97.76 billion baht last year. However, their combined net profit was 6.88 billion baht, down 15 per cent from 8.09 billion baht last year.

Among the three, AIS had the highest first-quarter net profit at 6.64 billion baht, though it had dropped slightly from last year’s 6.75 billion baht. Dtac came in second with 822 million baht, down almost 50 per cent from last year’s 1.5 billion baht.

True, however, was the only company to suffer a loss of 581 million baht, compared to the loss of 161 million baht last year.

The drop in the three companies’ first-quarter net profit has been put down to Thailand’s slightly recovered business outlook, new spectrum licence fees and investment in projects related to the 5G network.

Published : May 17, 2021

By : The Nation

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https://www.nationthailand.com/business/40000964

Rising inflation, outflow of foreign funds give limited upward room for SET

The Stock Exchange of Thailand (SET) Index fell by 15.62 points or 1.01 per cent to 1,533.86 at 10.18am on Monday. The volume of total transactions was THB16.56 billion with an index high of 1,544.64 and a low of 1,529.69.

Krungsri Securities forecast that the SET Index on Monday would fluctuate between 1,540 and 1,560 points despite hopes of a global economic recovery after the US showed strong economic data.

“The index would be under pressure due to uncertainty over rising inflation, the outflow of foreign funds and Thailand’s higher Covid-19 cases,” Krungsri Securities said.

It recommended that investors buy:

▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.

▪︎ HANA, KCE, TU, CPF and EPG, which benefit from the weakening baht.

▪︎ ADVANC, INTUCH and WHAUP, which pay high dividends.

The SET Index closed at 1,549.48 on Friday, up 1.35 points or 0.09 per cent. The volume of total transactions was THB97.35 billion with an index high of 1,558.86 and a low of 1,532.29.

Published : May 17, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000963

Baht weakens, could face downward pressure this week

The baht opened at 31.35 to the US dollar on Monday, weakening from Friday’s closing rate of 31.39.

The Thai currency is likely to move between 31.30 and 31.45 during the day and between 31.20 and 31.50 this week, Krungthai Bank market strategist Poon Panichpibool said.

He said the dollar would tend to be stable or weaken, depending on the market situation and recovery of the European economy.

Poon said the financial fluctuation in Asia caused by Covid-19 would prompt foreign investors to sell their assets in Asian markets. He suggested that Thai investors monitor trading of foreign currencies as it could weaken the baht.

The market strategist said the baht will not weaken sharply, and the currency’s resistance was between 31.40 and 31.50 per US dollar.

He added that the baht could strengthen from gold trade this time, when the metal’s price tends to increase.

Published : May 17, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000961

Gold price jumps by THB200 as dollar weakens

The price of gold in Thailand rose by THB200 per baht weight in morning trade on Monday due to the weakening dollar.

The Gold Traders Association report at 9.27am showed buying price of a gold bar at THB27,400 per baht weight and selling price at THB27,500, while gold ornaments were priced at THB26,909 and THB28,000, respectively.

At close on Saturday, the buying price of a gold bar was THB27,200 per baht weight and selling price THB27,300, while gold ornaments were priced at THB26,711.92 and THB27,800, respectively.

The price had risen bt THB400 per baht weight, the highest in over four months, last week.

Spot gold price on Monday was US$1,851 (THB58,178) per ounce compared to Friday when it rose by $14.1 to $1,838.1 per ounce.

The Hong Kong gold price on Monday rose by HK$90 to $17,090 (THB69,157) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 17, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000939

Automakers face uphill climb in Covid aftermath

Foreign automakers in Thailand have been hit severely by the Covid-19 crisis, which has led to changes in automotive technologies and consumer behaviour, semiweekly business publication Thansettakij said on Saturday.

Among the major upheavals in Thailand’s auto industry last year was American automaker General Motors (GM) pulling out of the country and giants Nissan, Mitsubishi and Honda undertaking restructuring of their organisations at the beginning of this year.

GM also sold its factory in Rayong to Great Wall Motors, a Chinese automaker, last year.

Foreign automakers in Thailand sold 790,000 cars last year, down 21 per cent compared to 2019.

Toyota Motor Thailand’s revenue in 2020 was THB368.25 billion, down 13.16 per cent year on year, while the company’s profit after tax slumped 41.82 per cent year on year to THB12.48 billion.

Honda Automobile (Thailand)’s revenue was THB206.70 billion, down 13.57 per cent year on year, while the company’s profit was THB11.64 billion, down 8.89 per cent year on year.

Isuzu Motors (Thailand)’s revenue was THB169.45 billion, down 8.19 per cent year on year, while the company’s profit fell 33.81 per cent year on year to THB10.37 billion.

Nissan Motor (Thailand)’s revenue was THB108.42 billion, down 21.21 per cent year on year, and the company reported a loss of THB7.21 billion compared to THB1 billion loss in the previous year.

The Federation of Thai Industries expected automakers to sell 1.5 million cars this year, of which 750,000 cars would be sold in the country and another 750,000 cars would be exported.

Even though auto sales this year are expected to be better than last year due to more people getting the Covid-19 vaccine, the industry would continue to be under pressure due to the third wave of the pandemic and shortage of materials, Thansettakij said.

Published : May 16, 2021

By : The Nation