Thai exports of farm products, products related to working from home, and products to combat Covid-19 will continue to grow this year, said the Commerce Ministry’s Trade Policy and Strategy Office on Tuesday.
Among Thai exports expected to grow are rice, canned food, pet food, computers, rubber gloves and medical products, said Pimchanok Vonkorpon, the office’s director-general.
However, Thailand would continue to closely monitor the Covid-19 situation in its major trading partners, she added.
CLMV (Cambodia, Laos, Myanmar and Vietnam) markets have yet to recover from the pandemic, she noted.
She advised exporters to reap benefits from Thailand’s competitive edge as a member of the Regional Comprehensive Economic Partnership Summit (RCEP).
The country should also seek ways to expand its market share in the major economies of the US, China, Germany, Japan and the UK, she added.
Banks offer debt holidays, extra loans, rate cut to borrowers affected by Covid second wave
EconJan 13. 2021Bank of Thailand deputy governor Ronadol Numnonda
By The Nation
With the Cabinet approving a slew of Covid-relief measures on Tuesday, banks also joined forces to support borrowers.
Chatchai Sirilai, president of the Government Housing Bank (GHB), said it will offer mortgage borrowers who have already received relief, discounts of 25, 50 or 75 per cent on instalment payments for six months. They can apply for the discount between January 15 and 29.
Those unable to pay debts or in the process of debt restructuring could apply for instalment discounts, from January 15 to February 26.
Customers who had not yet received bank relief measures could apply for instalment discounts from February 1-26.
Meanwhile the Government Savings Bank will offer debt holidays and interest rate cuts for customers in 28 red-zone provinces hit by Covid.
The GSB will also launch Bt10 million in soft loans for the self-employed, who will be able to borrow up to Bt50,000 collateral-free.
The GSB still has more than Bt20 billion in soft loans available from the first-wave pandemic – Bt7.8 billion for the tourism industry, Bt4.2 billion for tourism recovery and SME loans of Bt10 billion. Borrowers can apply until June 30.
The Small and Medium Enterprise Development Bank of Thailand has agreed to extend its debt holiday until March this year from October last year. A further six months suspension of repayments will then be offered to some borrowers. The bank will also offer Bt6 billion in two-year loans at 3 per cent interest.
Meanwhile the Thai Credit Guarantee Corporation will offer loan guarantees totalling Bt100 billion to small businesses and those affected by the virus outbreak. Banks can claim up to 35 per cent on the value of loans that turn bad.
The Bank for Agriculture and Agricultural Cooperatives is offering Bt11 billion in low-interest emergency loans.
The Export-Import Bank of Thailand will offer debt-repayment suspension of up to six months for its customers.
Bank of Thailand deputy governor Ronadol Numnonda said the central bank has asked commercial banks, non-bank lenders and state-run banks to support both workers and businesses affected by the virus fallout.
Banks will allow credit card debtors to pay in 48 instalments with annual interest of not more than 12 per cent. For personal loans, customers could pay in 48 instalments or more with annual interest not more than 22 per cent.
Some banks and non-bank lenders have already extended debt payments with up to 99 instalments, he revealed.
Borrowers who put up their vehicles as collateral will be offered a cut of at least 30 per cent on instalments with annual interest not more than 22 per cent. Hire purchase borrowers can delay debt payment by up to three months. Mortgage borrowers can delay payment of principal and interest by three months, or extend debt payment by three months with a rate cut.
Banks will also offer new assistance for corporate clients both large and small. They will receive debt restructuring, debt holidays, or changes from short-term to longer-term debt, he said.
Banks will also offer loans to support liquidity for businesses. Banks should also consider allowing SMEs to delay debt payment on loans of up to Bt100 million.
Borrowers could apply for assistance until June 30.
“The central bank wants to see banks and clients accelerate debt restructuring, which will be the answer to the problem in the long run,” he said.
Approximately 11 million bank accounts worth a combined Bt5.6 trillion received assistance during the first Covid outbreak until the end of November last year. Of these, 10 million accounts worth Bt3.2 trillion are owned by retail clients.
The Stock Exchange of Thailand (SET) Index closed at 1,539.85 on Tuesday, up 3.36 points or 0.22 per cent. The volume of total transactions was Bt90.16 billion with an index high of 1,542.65 and a low of 1,528.50.
In the morning session, an analyst at Krungsri Securities expected the index to fall to between 1,525 and 1,530 points due to uncertainty over the rollout of US economic stimulus measures amid political turmoil and China’s move to lock down Hebei province after 103 Covid-19 cases were found.
“Besides, the decline in foreign funds flow will pressure the index,” he said.
The top 10 stocks with the highest trade value today were PTT, GPSC, PTTGC, PTTEP, EA, AOT, IVL, AEONTS, KTC and KBANK.
As of 4.30pm, the price of oil rose by US$0.69 or 1.32 per cent to $52.94 per barrel, while gold rose by $7.50 or 0.41 per cent, to $1,858.30 per ounce.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 28,164.34, up 25.31 points or 0.090 per cent.
China’s Shanghai SE Composite Index closed at 3,608.34, up 76.84 points or 2.18 per cent, while Shenzhen SE Component Index closed at 15,460.03, up 344.65 points or 2.28 per cent.
Hong Kong’s Hang Seng Index closed at 28,276.75, up 368.53 points or 1.32 per cent.
South Korea’s KOSPI Index closed at 3,125.95, down 22.50 points or 0.71 per cent.
Taiwan’s TAIEX Index closed at 15,500.70, down 56.60 points or 0.36 per cent.
Bangkokbiznews on Tuesday zoomed in on the top 10 stocks that generated the highest returns in 2020.
They are:
1. Delta Electronics (Delta): Share price of the electronic components manufacturer and distributor increased by 808.41 per cent with the highest price of Bt838 per share and lowest at Bt27.
2. Wow Factor (W): Share price of this electronic components manufacturer increased by 575 per cent with the highest price of Bt0.29 per share and lowest at Bt0.02.
3. Singer Thailand (Singer): Share price of the sewing machine and home appliance distributor increased 377.06 per cent with the highest price of Bt29.25 per share and lowest at Bt3.62.
4. Asiasoft Corporation (AS): Share price of the online game and mobile game operator increased by 360.32 per cent with the highest price of Bt6.85 per share and lowest at Bt0.78.
5. Regional Container Lines (RCL): Share price of this container shipping company increased by 301.13 per cent with the highest price of Bt15.40 per share and lowest at Bt1.66.
6. Yggdrazil Group (YGG): Share price of this computer graphic business increased by 254 per cent with the highest price of Bt20 per share and lowest at Bt3.22.
7. I&I Group (IIG): Share price of this digital and technology consultant increased by 240.91 per cent with the highest price of Bt27.50 per share and lowest at Bt12.60.
8. Silicon Craft Technology (SICT): Share price of this microchip manufacturer increased by 194.20 per cent with the highest price of Bt7.15 per share and lowest at Bt3.54.
9. Ziga Innovation (Ziga): Share price of this pre-zinc structural steel pipe electrical conduit manufacturer and distributor increased by 178.43 per cent with the highest price of Bt3.14 per share and lowest at Bt0.57 per share.
10. AgriPure Holdings (APure): Share price of this holding company, whose main businesses are manufacturing and distribution of agro products, increased by 171.79 per cent with the highest price of Bt2.56 per share and lowest at Bt0.45.
Thais come out tops in the region in health and wellness study
Jan 12. 2021
By THE NATION
A survey across six Asia-Pacific markets revealed that Thais are amongst the best in the region for adopting eight key ingredients to live healthier, longer and better lives.
AIA Group Limited has released the findings from a ground-breaking research initiative, “Healthier Together”, revealing the eight key ingredients that go into living “Healthier, Longer, Better Lives”.
The study was conducted by global data insights company Kantar Group and involved in-depth interviews with more than 80 experts from a broad spectrum of professional disciplines in Thailand and across Asia-Pacific.
The study findings were then validated through a survey of 6,000 consumers in the region, including 1,500 people in Thailand.
When comparing the markets in terms of how well they are performing in living “Healthier, Longer, Better Lives”, Thailand topped the rankings with 35 per cent rating themselves as adopting almost all of the eight identified ingredients and 61 per cent saying they were achieving four or more, the highest of all six countries in the survey.
In terms of relative importance of each of the eight ingredients, Thailand was the only market to indicate that ‘”being self-motivated” was the most critical ingredient, although “having an optimistic outlook”, which rated the most powerful driver in all other markets, came a close second.
“Make time to recharge” is the easiest first step for people to take, while “be active and engaged” was also seen as important and yet this was the behaviour which Thais most need to improve on.
Stuart A Spencer, AIA Group chief marketing officer, said: “The AIA purpose is to help people live healthier, longer, better lives. It’s therefore critical to gain a deep understanding of what people can actually do to achieve this, and how we can help them, beyond the obvious steps of exercising, eating healthily and getting sufficient sleep, particularly in the context of Covid-19.”
Spencer added: “This is really exciting because the findings of this unique piece of research now deliver to us a clear pathway. …It identifies real actions people can take to improve their physical and mental well-being, and real clarity, which has never been more important to us all than it is right now.”
The complete findings of the AIA Healthier Together study and survey can be viewed at: www.aia.com/healthiertogether.
CP Foods delivers ready-to-eat meals to 15 hospitals in six ‘red-zone’ provinces
Jan 11. 2021
By The Nation
Charoen Pokphand Foods (CP Foods) has delivered more than 61,000 packs of ready-to-eat meals to medical staff working on the frontline in 15 hospitals in six “red” provinces.
The “red” provinces, Samut Sakhon, Samut Songkhram, Nakhon Pathom, Ratchaburi, Suphanburi and Kanchanaburi, have been put under maximum control based on the number of Covid-19 cases.
The meals have been delivered to Samut Sakhon Hospital, Krathum Baen Hospital, Nakhon Pathom Hospital, Banglane Hospital, Ratchaburi Hospital, Damnoen Saduak Hospital, Ban Pong Hospital, Ban Phaeo Hospital, Somdej Phra Phutthaloetla Hospital, Napalai Hospital, King Mongkut’s Hospital, Makarak Hospital, Pahonpol Payuha Sena Hospital, Chaophraya Yommaraj Hospital and Somdejprasangkharach XVII Hospital.
The project was initiated in March last year by CP Foods CEO Prasit Boondoungprasert and has so far delivered meals to 200 public hospitals and 20,000 families of doctors and nurses nationwide.
CP Foods is also supporting five hospitals in remote areas of Tak province to tackle cases coming across the Thai-Myanmar border.
In addition to frontline medical workers, CP Foods is collaborating with government agencies and other partners to provide food supplies to migrant workers and underprivileged people.
The company recently partnered with the Labour Protection Network to provide more than 30,000 packs of ready-to-eat meals and 10,000 fresh eggs to help migrant workers affected by the closure of the Mahachai shrimp market in Samut Sakhon.
Oil company Susco plans to invest Bt2 billion over five years, with the goal of having 300 gas stations nationwide by the end of 2025.
“This plan should help increase the company’s market share beyond the current 3 per cent,” said Chairit Simaroj, managing director of Susco Plc.
“This year, we plan to invest Bt550 million to add 20 gas stations to our existing portfolio of 240 stations nationwide, as well as renovate 50 stations in Bangkok and big cities.
“We estimate this year’s sales to expand by 20 per cent over last year when the company’s sales plummeted due to the Covid-19 outbreak and lost revenue from jet fuel export, which should return to normal by the second to third quarter of this year,” he added.
Susco will also focus on non-oil businesses by adding Lawson 108 convenience stores, Starbucks and D’Oro coffee shops, KFC and Subway restaurants to their gas stations.
“We estimate that revenue from non-oil businesses will surpass Bt100 million within 3 years,” adds Chairit.
“One of the silver linings from the Covid-19 outbreak is that many land owners have put their lands up for sale at lower price than before the pandemic, which has enabled us to establish new gas stations at a lower cost,” said Chairit.
“Susco has also employed several cost-saving measures which have helped us maintain our business goals without downsizing.”
Chairat added that the investment plan for 2021 had been prepared in November 2020 and therefore did not factor in the second wave of Covid-19, which started in December.
“We will evaluate our oil sales by the end of January to see if any adjustment to the plan is needed,” he added.
The Stock Exchange of Thailand (SET) Index fell by 1.24 points, or 0.08 per cent, to 1,535.25 in the morning session on Tuesday.
An analyst at Krungsri Securities expected the index to fall to between 1,525 and 1,530 points due to uncertainty over the rollout of US economic stimulus measures amid political turmoil and China’s move to lock down Hebei province after 103 Covid-19 cases were found.
“Besides, the decline in foreign funds flow would pressure the index,” he said.
He recommended that investors buy:
▪︎ PSL, TTA and RCL, which would benefit from the rise in freight rate.
▪︎ KBANK, SCB, BBL and BLA, which benefit from rising US bond yield.
▪︎ PTTEP, PTTGC, TOP and IVL, which benefit from rising oil price and improved fourth-quarter performance.
The SET Index closed at 1,536.49 on Monday, up 0.05 points. Total transactions amounted to Bt93.80 billion with an index high of 1,550.75 and a low of 1,527.75.
The price of gold was unchanged in morning trade on Tuesday, after falling by Bt50 per baht weight at close on Monday, the Gold Traders Association reported.
As of 9.25am, the buying price of a gold bar was Bt26,300 per baht weight and selling price Bt26,400, while gold ornaments were priced at Bt25,832.64 and Bt26,900, respectively.
Spot gold price moved to US$1,847.5 (Bt55,731) per ounce in the morning, while the Comex (Commodity Exchange) gold to be delivered in February rose by $15.4 to $1,850.8 per ounce on Monday, thanks to mass buy-ups of the precious metal after its price fell sharply in the previous week, as well as the fall in the US stock market.
Hong Kong gold price dropped by HK$50 to $17,070 (Bt66,402) per tael, the Chinese Gold and Silver Exchange Society reported.
By Syndication Washington Post, Bloomberg · Vildana Hajric, Kamaron Leach
U.S. stocks fell for the first time in five sessions as investors started the week in a cautious mood with equity prices near all-time highs.
The S&P 500 was led lower by the real estate and consumer discretionary sectors, while energy companies were the biggest gainers in the benchmark index. Eli Lilly & Co. lifted heath-care shares. The dollar strengthened against all its major peers, with demand supported by elevated Treasury yields.
Weighing on the minds of investors are worries that equities are running too hot and valuations are stretched at a time when major parts of the world are grappling with the worst of the covid-19 pandemic.
“Keep in mind though, after big runs like we saw last week, it’s natural for the market to take a breather,” said Chris Larkin, managing director of trading and investing product at E*Trade Financial. “Traders looking for new opportunities may be wise to look beyond behemoth tech stocks.”
Benchmark Treasury yields topped 1% last week on bets that Democratic lawmakers will enact big spending packages to drive the economic recovery out the pandemic. The move reset expectations for a range of asset classes and sparked debate over whether higher yields might jeopardize the current environment of easy financial conditions.
Ten-year U.S. yields climbed to almost 1.14% on Monday, the highest level since March.
“Ultimately it goes back to the 10- year,” wrote KC Rajkumar and Jahanara Nissar of Lynx Equity Strategies. A higher yield “points to higher inflation down the road — which is negative for stocks. We are not there yet, but as the 10-year inches higher — the closer we get.”
Twitter Inc. fell after the social media platform permanently banned President Donald Trump after a mob invaded the Capitol building last week. Mirabaud Securities analyst Neil Campling said the ban shows the company is making editorial decisions, and opens the door to more regulation of social media under the next administration.
Shares of Facebook Inc., which also suspended Trump’s account, also declined. Meanwhile, House Democrats Monday introduced a resolution to impeach Trump for a second time, setting up a vote this week unless Vice President Mike Pence uses his constitutional authority to remove the president.
Bitcoin tumbled, with prices sliding as much as 20% on Monday. Some investors have said the digital currency’s recent gains defy logic and the U.K.’s financial watchdog issued a statement that consumers in crypto should be prepared to lose all their money. The token traded down about 14% at $32,835.
Elsewhere in markets, the MSCI Asia Pacific Index slipped. Commodities were broadly lower on the back of the stronger dollar, with West Texas Intermediate oil trading near $52 a barrel.
These are some of the main moves in markets:
Stocks
The S&P 500 Index declined 0.7% to 3,799.61 as of 4 p.m. EST, the first retreat in a week.
The Dow Jones industrial average dipped 0.3% to 31,008.69, the first retreat in a week.
The Nasdaq Composite Index declined 1.3% to 13,036.43, the largest drop in a week.
The Stoxx Europe 600 Index sank 0.7% to 408.41, the biggest dip in three weeks.
The MSCI All-Country World Index sank 0.7% to 658.67, the first retreat in a week and the largest decrease in three weeks.
Currencies
The Bloomberg Dollar Spot Index rose 0.5% to 1,126.98, the highest in two weeks.
The euro sank 0.5% to $1.2156, the weakest in almost four weeks on the largest decrease in more than a week.
The British pound declined 0.3% to $1.3521, the weakest in almost two weeks.
The Japanese yen depreciated 0.2% to 104.17 per dollar, the weakest in more than a month.
Bonds
The yield on 10-year Treasurys gained two basis points to 1.13%, reaching the highest in about 10 months on its seventh straight advance.
Germany’s 10-year yield gained two basis points to -0.50%, the highest in two months.
Britain’s 10-year yield gained 31 basis points to 0.309%, its fifth straight advance and the biggest advance on record.
Commodities
West Texas Intermediate crude dipped 0.3% to $52.10 a barrel, the first retreat in a week.
Copper declined 3% to $3.56 a pound, the lowest in a week.
Bank of Thailand deputy governor Ronadol Numnonda
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