#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

BCPG shares tumble over capital increase plan

EconAug 22. 2020

By The Nation

Shares of power giant BCPG on Friday closed at Bt12.80 per share, down Bt1.70 or 11.72 per cent, after the company announced an increase in capital by offering 1.3 billion additional common shares to specific investors, experts said.

Bundit Saphianchai, BCPG president, informed the Stock Exchange of Thailand that the company’s board of directors had approved increasing its capital to Bt16.508 billion from the previous Bt10 billion by launching 1.301 billion additional common shares at the par value of Bt5 per share. The company aimed to inform shareholders at an extraordinary general meeting on October 7.

He explained that not more than 250 million additional shares will be offered to existing shareholders at the ratio of one new share for 8 shares at Bt11.50 per share, while the company will grant BCPG -W1 and BCPG -W2 warrants to existing shareholders without any charges.

“The conpany will grant 89.3 million units each of BCPG -W1 and BCPG -W2 warrants at a ratio of 2.80 additional shares per unit. Existing investors can use one warrant per additional share at Bt8 per share. The terms of the BCPG -W1 and BCPG -W2 warrants are two years and three years, respectively,” he said.

He further explained that not more than 391.5 million additional shares will be offered to Pilgrim Partners Asia and Capital Asia Investments equally at Bt11.50 per share, while the company will grant BCPG -W3 warrants to those companies without any charges.

“BCPG -W3 warrants totalling 178.6 million units will be granted at a ratio of 2.1924 additional shares per unit. Existing investors can use one warrant per additional share at Bt8 per share. The term of the BCPG -W3 warrants are one year,” he said.

He said that not more than 283 million additional shares will be offered to a limited group of investors at market price during the offering period.

“Meanwhile, not more than 357.2 million shares were for BCPG -W1, BCPG -W2 and BCPG -W3 warrant exercises and not more than 20 million shares will be issued to company directors, executives and employees,” he said.

He added that this move aimed to raise capital for business expansion, such as investment, development, and acquisition of power plants under the company’s investment plan, as well as repaying debts to financial institutions.

An analyst at Asia Plus Securities said BCPG’s announcement to increase capital had caused the share price to drop in the short term because the share volume will increase to 3.3 billion shares, up 62 per cent from the current 1.99 billion shares.

“We expect that this negative sentiment will plunge the share price at least 12-15 per cent,” he said.

He added that the securities company has cut its base value forecast at the end of this year to Bt11.90 per share from the previous Bt19.70 per share, advising investors to speculate profit from other shares due to such factors.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

BOT’s mobile banking move sparks surge in phone retail shares

EconAug 22. 2020

By The Nation

The price of mobile phone retail shares has risen sharply after the Bank of Thailand (BOT) moved to ban use of mobile banking services on old or jailbroken phones to prevent cyberattacks.

The new BOT measure will be effective from December 31, forcing many people to buy new phones to access mobile banking.

It will bar access to mobile banking apps for users of rooted or jailbroken phones, as well as devices with outdated operating systems. Users must also set up a PIN or password to use banking apps.

The move lifted share prices of mobile phone retail shares over the past two days.

Shares in Synnex (Thailand) (SYNEX) rose by 17.4 per cent, Hana Microelectronics (HANA) by 10.2 per cent and , Jaymart (JMART) by 9.9 per cent, and Com7 (COM7) by 3.8 per cent.

The companies’ performance was expected to improve through the second half of 2020, said Supachai Wattanavitheskul, an analyst at Yuanta Securities (Thailand).

Many people also expect the launch of 5G in the second half of the year will mean they have to buy new mobile phones to use the technology, he pointed out.

He also expects the share price of COM7, Apple’s official distributor in Thailand, to increase after Apple shares hit a new high recently.

“Also, JMART gained positive sentiment from its subsidiaries’ second-quarter results, while SYNEX’s second-quarter performance is expected to be strong,” he said.

He predicted mobile phone retail shares would rise by around 10 per cent in the second half of 2020.

“However, investors should be careful when speculating on these shares since the price is currently high and they could face mass sell-offs if performance or business direction is not as investors expect,” he added.

Passakorn Linmaneechote, managing director at Kasikorn Securities, affirmed that the BOT measure had lifted mobile phone retail shares but urged caution over a saturation point in mobile use.

“This positive sentiment will not support the shares as much as expected because the number of internet banking and mobile banking accounts is currently around 61 million [in Thailand], while the number of SIM cards is around 100 million,” he said.

Meanwhile, most current users of internet and mobile banking have new phones and operating systems, while those with old phones may not want to use these services, he added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

U.S. existing-home sales surged in July by most on record

EconAug 21. 2020A real estate sign stands outside a home for sale in Peoria, Ill., on May 30, 2019. CREDIT: Bloomberg photo by Daniel Acker.

By  Syndication Washington Post, Bloomberg · Maeve Sheehey · BUSINESS, PERSONAL-FINANCE, US-GLOBAL-MARKETS 

U.S. sales of previously owned homes surged by the most on record in July as lower mortgage rates continued to power a residential real estate market that’s proving a key source of strength for the economic recovery.

Closing transactions increased 24.7% from the prior month to a 5.86 million annualized rate, the strongest pace since the end of 2006 and reflecting broad gains across the U.S., according to National Association of Realtors data issued Friday. The median estimate in a Bloomberg survey of economists called for a 5.41 million rate. Prices jumped 8.5% from a year earlier, on an unadjusted basis, to the highest on record.

“The housing market is past the recovery phase and is now in a booming stage,” Lawrence Yun, NAR’s chief economist, said on a call with reporters. “Certainly, record-low mortgage rates are bringing more buyers into the market.”

Cheaper borrowing costs, pent-up demand and greater interest in suburban markets following the pandemic-related shutdowns earlier in the year are so far generating plenty of momentum in housing. At the same time, lean inventory, higher asking prices, and the coronavirus itself represent hurdles to further outsize gains.

“With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021,” Yun said in a statement.

There were 1.5 million existing homes for sale last month, down 21.1% from July 2019, the 14th straight year-over-year decline. It was the leanest supply for any July on record.

The number of houses for sale would last 3.1 months at the current sales pace. Anything below five months is seen as a tight market.

In July, properties remained on the market for an average of 22 days, the shortest timespan on record. The median home price increased to an all-time high of $304,100 last month and compared with $280,400 a year earlier.

Purchases of previously owned single-family homes rose 23.9% and sales of condominiums increased nearly 32%, according to the NAR data.

Existing-home sales increased in all four U.S. regions in July, including a 30.5% rise in the West and a 19.4% advance in the South, the largest U.S. region. Purchases climbed 27.5% in the Midwest and 30.6% in the Northeast.

Previously owned home sales account for roughly 90% of U.S. tractions and are calculated when a contract closes. July new-home sales data will be released by the Commerce Department on Tuesday.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Europe’s economic recovery stumbles after initial bounceback

EconAug 21. 2020A waiter serves a customer amongst empty tables at a cafe in Marseille, France, on Aug. 12, 2020. CREDIT: Bloomberg photo by Jeremy Suyker.

By Syndication Washington Post, Bloomberg · Fergal O’Brien · BUSINESS, WORLD, US-GLOBAL-MARKETS, EUROPE 
The euro-area economy unexpectedly lost momentum this month after a resurgence of coronavirus cases forced new restrictions, highlighting the challenge of rekindling growth while the pandemic remains untamed.

The sharp slowdown — driven by services — shows that the escape from recession won’t be plain sailing, and undermines lingering hopes for a V-shaped recovery. While infections are approaching levels recorded during strict lockdowns earlier this year, governments are so far reluctant to re-impose those measures.

In a report published Friday, IHS Markit said its composite measure of private-sector activity dropped to 51.6 in August from 54.9 in July. The manufacturing gauge remained virtually unchanged, but services plunged to 50.1, a level that practically signals stagnation.

The economy had initially bounced back strongly after restrictions were eased, though concerns lingered that the pace could fade. At their last meeting in July, European Central Bank policy makers were reluctant to draw firm conclusions about the health of the economy, a stance that looks justified by Friday’s numbers.

The fallout on jobs in both sectors continued, with employment declining for a sixth straight month. That’s a key worry for governments, who fear a damaging rise in joblessness could persist. While France and Germany, the euro area’s biggest economies, continued to see growth in activity, the Markit report suggested output declined in Italy and Spain.

“The euro zone stands at a crossroads,” said Andrew Harker, economics director at IHS Markit. “The path taken will likely depend in large part on how successfully Covid-19 can be suppressed and whether companies and their customers alike can gain the confidence necessary to support growth.”

To rein in the spread of the virus, countries across the region have tightened some restrictions on public life. Spain and Italy shut discos, and Greece limited hours for bars and restaurants in hopes of avoiding more stringent measures after the holiday season winds down. Irish authorities are also considering new measures to curb the pandemic.

For the battered travel industry, those steps already have consequences. Ryanair Holdings, Europe’s biggest discount carrier, has cut back on schedules, saying the uncertainty has discouraged people from booking foreign trips.

Deutsche Lufthansa’s Eurowings unit said Tuesday it’ll reduce capacity to Spain, in response to a German travel warning. The country has re-emerged as a new hotspot for the virus.

Passenger numbers in Germany may take until 2024 to reach their 2019 level, according to industry association BDL.

German Chancellor Angela Merkel called on European leaders Thursday to work together to prevent renewed lockdowns.

“Politically, we want to avoid closing borders again at any cost, but that assumes that we act in coordination,” she said during a visit to Emmanuel Macron at his presidential residence on the Mediterranean coast.

Before the meeting, Macron had told Paris Match magazine that “we cannot shut down the country, because the collateral damage of confinement is considerable.” France reported 4,771 new infections Thursday, the largest daily increase since mid-April.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET stays below 1,300 amid worries over Thai politics, pandemic

EconAug 21. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,299.26 today (August 21), up 2.47 points or 0.19 per cent. Total transactions amounted to Bt42.295 billion with an index high of 1,307.64 and a low of 1,296.68.

In the morning session, a stock analyst at Krungsri Securities said he expected the index to fluctuate between 1,290 and 1,305 despite positive sentiment from China’s plan to meet with US representatives to review the first phase of their trade agreement.

“The index will be under pressure from uncertainty over the impact of Covid-19 on US economic data and over the political situation in Thailand,” the analyst said.

The 10 stocks with the highest trade value today were CPALL, GPSC, NER, PTT, AOT, JMART, JMT, TOP, KCE and MINT.

As of 4.30pm, the price of oil fell by US$0.33 or 0.77 per cent to $42.49 per barrel, while gold fell by $6.40 or 0.33 per cent, to $1,940.10 per ounce.

Other Asian indices were on the rise:

Japan’s Nikkei Index closed at 22,920.30, up 39.68 points or 0.17 per cent.

China’s Shang Hai SE Composite Index closed at 3,380.68, up 16.78 points or 0.50 per cent, while the Shenzhen SE Component Index closed at 13,478.00, up 157.08 points or 1.18 per cent.

Hong Kong’s Hang Seng Index closed at 25,113.84, up 322.45 points or 1.30 per cent.

South Korea’s KOSPI Index closed at 2,304.59, up 30.37 points or 1.34 per cent.

Taiwan’s TAIEX Index closed at 12,607.84 up 245.20 or 1.98 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Foreigners see bright prospects for MAJOR, up their stakes after Covid-19 crash

EconAug 21. 2020

By The Nation

Foreign institutional investors were buying Major Cineplex Group (MAJOR) shares amid the Covid-19 crisis, as its share price recovered faster than its base price, experts said.

MAJOR was one of the businesses affected the most by the Covid-19 pandemic. The company faced a loss for two consecutive quarters, especially in the second quarter when the government imposed lockdown measures, causing the company to lose Bt475 million compared to a profit of over Bt500 million in the past five years.

The company’s net loss in the first half of this year totalled Bt730 million.

Meanwhile, MAJOR’s share price fell from Bt25 per share at the end of 2019 to Bt11.20 per share at the end of March, the lowest in eight and a half years since the great flood of 2011.

There were negative views about MAJOR’s shares as its cinema business would be disrupted by technologies that enable people to watch movies at home and the Covid-19 crisis had led most people to believe the cinema business would change.

However, according to the last book closing on June 19 this year, foreign institutional investors, such as GIC Private Limited, a Singapore government fund, has increased its shareholding in MAJOR from 5.93 per cent in April 2019 to 6.6 per cent, while Nortrust Nominees has increased its shareholding from 5.63 per cent to 7.62 per cent.

On August 5, Marathon Asset Management, a London-based asset management firm, bought 5.04 per cent of MAJOR shares until it was listed in the top five major shareholders, however Thai NVDR has decreased its shareholding proportion from 9 per cent to 4.29 per cent.

Dithanop Vattanawakin, an analyst at Capital Nomura Securities, said foreign institutional investors were buying MAJOR shares because its price had dropped sharply, while investors hoped that the company’s performance will improve which can be seen from the rising share price that has currently risen over its base price at Bt14.80 per share.

“However, there are a lot of uncertainties during the third quarter this year. Apart from expenses that MAJOR has to incur after resuming operations, the company’s revenue would not recover quickly because many movie releases were postponed, causing a decline in the number of customers,” he said.

He expected MAJOR’s business direction to become more clear in September this year after big movie releases, such as Mulan, adding that the company’s share price rose amid uncertainties in the past two weeks.

Meanwhile, Phatipak Navawatana, an analyst at Krungsri Securities, expected MAJOR to recover in the second half of this year, adding that the company’s second-quarter performance was the lowest point as many cinemas were closed, while many movie releases were postponed.

“However, the company would face a loss in the third quarter before taking a profit in the fourth quarter. Its performance will recover after big movies are released,” he said.

“Even though the company’s bad results have bottomed out, it still lacks positive sentiment to boost share price as the current movies may not attract customers, resulting in a decline in revenue and profit.”