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Discussion Starter #1 (Edited)
จุดประสงค์ เพื่อต้องการแลกเปลี่ยนความรู้ เรื่องตลาดเงิน ตลาดทุน ของไทย เช่น สินค้าทางการเงินและเครื่องมือป้องกันความเสี่ยง ได้แก่ หุ้นทุน อนุพันธ์ ตราสารหนี้เป็นต้น:banana:
Obj. To exchange the knowledges on the topic of Thai financial market which supplies financial products and derivatives such as equity securities ,derivatives,bond etc.


ส่วนตัวข้าพเจ้าเอง อยู่ในระดับอนุบาลแมงเม่า ยังไม่ได้เป็นนักลงทุน เป็นแค่ผู้ศึกษาทางด้านตลาดนี้ เพื่อใช้ในการลงทุนในอนาคต
My personnel experiences in the market is so tiny just like flying termites fly into fire:lol:. I am interested in the financial markets for making the decision and investment in long term.


ส่วนใครที่มีทักษะด้านนี้ หรือ มีประสบการณ์ในการลงทุน หรือมีความสนใจ สามารถแชร์ได้น่ะครับ:banana:
Anyone who has direct experiences or want to join in. You could learn and share in this thread right now.

Thank you
 

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Discussion Starter #2 (Edited)
เริ่มที่ตลาดแรก
ตลาดหลักทรัพย์แห่งประเทศไทย
Source www.set.or.th
ความเป็นมา
ประวัติความเป็นมาของตลาดหลักทรัพย์ฯ

ตลาดทุนไทยยุคใหม่มีจุดเริ่มต้นจากการประกาศใช้แผนพัฒนาเศรษฐกิจและสังคมแห่งชาติฉบับที่ 1 (พ.ศ. 2504 - 2509) เพื่อรองรับการเติบโตและส่งเสริมความมั่นคงทางเศรษฐกิจและพัฒนาคุณภาพชีวิตของประชาชน ต่อมา แผนพัฒนาเศรษฐกิจและสังคมแห่งชาติฉบับที่ 2 (พ.ศ. 2510 - 2514) ได้เสนอให้มีการจัดตั้ง ตลาดหลักทรัพย์ที่มีระบบระเบียบขึ้นเป็นครั้งแรก โดยเน้นให้มีบทบาทสำคัญในการเป็นแหล่งระดมเงินทุน เพื่อสนับสนุนการพัฒนาเศรษฐกิจและอุตสาหกรรมของประเทศ

พัฒนาการของตลาดทุนของไทยในยุคใหม่นั้น สามารถแบ่งออกได้เป็น 2 ยุค เริ่มจาก "ตลาดหุ้นกรุงเทพ"
(Bangkok Stock Exchange) ซึ่งเป็นองค์กรเอกชน และต่อมาเป็น "ตลาดหลักทรัพย์แห่งประเทศไทย" ภายใต้ชื่อภาษาอังกฤษว่า "The Securities Exchange of Thailand"
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ตลาดนี้ขายอะไรบ้าง:
1.ขายตราสารทุน มีสองตลาดได้แก่ SET และ MAI
2.ตราสารหนี้
3.ตราสารอนุพันธ์ ซึ่งขายในตลาด SET ได้แก่ set index 50 future and option, silver&gold&crude oil,currency future เป็นต้น โดยจะเป็นอนุพันธ์ที่ไม่เกี่ยวกับตลาดเกษตร เพราะหากเป็นดัชนีอ้างอิงจากสินค้าเกษตรจะอยู่อีกตลาดหนึ่งคือ Afet โดยอนุพันธ์ที่ซื้อขาย
4.ใบสำคัญแสดงสิทธิ์ DW
5.ETF


Establishment of the Bangkok Stock Exchange
Source of Information : www.set.or.th

The inception of the Thai stock market began as far back as July 1962, when a private group established an organized stock exchange as a limited partnership. The group later became a limited company and changed its name to the "Bangkok Stock Exchange Co., Ltd." (BSE) in 1963.
Despite its well-intended foundation the BSE was rather inactive. Annual turnover value consisted of only 160 million baht in 1968, and 114 million baht in 1969. Trading volumes continued to fall sharply thereafter to 46 million baht in 1970, and then 28 million baht in 1971. The turnover in debentures reached 87 million baht in 1972, but stocks continued to perform poorly, with turnover hitting an all time low of only 26 million baht. The BSE finally ceased operations in the early 1970s.

It is generally accepted that the BSE failed to succeed because of a lack of official government support and a limited investor understanding of the equity market.

In 1972 the Government took a further step in this direction by amending the "Announcement of the Executive Council No. 58 on the Control of Commercial Undertakings Affecting Public Safety and Welfare". The changes extended Government control and regulation over the operations of finance and securities companies, which until then had operated fairly freely. Following these amendments, in May 1974, long-awaited legislation establishing "The Securities Exchange of Thailand" (SET) was enacted. This was followed by revisions to the Revenue Code at the end of the year, allowing the investment of savings in the capital market. By 1975 the basic legislative framework was in place and on April 30, 1975, "The Securities Exchange of Thailand" officially started trading. On January 1, 1991 its name was formally changed to "The Stock Exchange of Thailand" (SET).
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What is the SET's products?
1.Equities (Stock)
2.Bond
3.Derivatives such as SET 50 index future and option, Gold-Silver-Crude oil-USD currency futures. Moreover agricultural future are available or supplying or exchanging in another market which called "AFET".
4.DW warrants.
5.ETF fund
 

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เป็นภาษาอังกฤษเถอะ ขอร้อง
 

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Discussion Starter #4
Size of market

Source from nayki /Philippine Economy forum

Malaysia has US$395.1 Billion as of 2011
http://www.indexmundi.com/facts/mala...sted-companies

Indonesia has US$390.1 Billion as of 2011
http://www.indexmundi.com/facts/indo...sted-companies

Thailand has US$268.5 Billion as of 2011
http://www.indexmundi.com/facts/thai...sted-companies

Singapore has US$308.3 Billion as of 2011
http://www.indexmundi.com/facts/sing...sted-companies

Vietnam has US$18.4 Billion as of 2011
http://www.indexmundi.com/facts/viet...sted-companies
 

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market cap ของเราน่าจะ 300 billions กว่าๆ แล้วนะครับ ราวๆ 10 ล้านๆ บาทแล้ว

ส่วนยอดการซื้อขายแต่ละวันของเราอันดับหนึ่ง ของอาเซียนครับ ทิ้งห่างสิงค์ กับมาเล พอสมควร

CG score ของเราอันดับสามของเอเซียครับ เป็นรอง สิงค์กับฮ่องกง แต่ดีกว่าญี่ปุ่นกับมาเล

15 ตคนี้ SET เริ่มลิงค์กับ asean link แล้วครับ
 

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เปิด 30 บริษัทจดทะเบียนไทย ติดอาเซียนสตาร์

กรุงเทพธุรกิจออนไลน์ วันที่ 16 ตุลาคม 2555 07:21

เปิด 30 บจ.ไทยติดอาเซียนสตาร์ หลังตลาดหุ้นไทยประกาศเชื่อมโยงกระดานซื้อขายหุ้นอาเซียนเป็นวันแรก ต่อกับตลาดหุ้นมาเลเซีย-สิงคโปร์

นายจรัมพร โชติกเสถียร กรรมการและผู้จัดการ ตลาดหลักทรัพย์แห่งประเทศไทย กล่าวถึงการเข้าร่วมโครงการ Asean Trading Link ของตลาดหลักทรัพย์แห่งประเทศไทยว่า เป็นครั้งแรกในประวัติศาสตร์ที่เชื่อมโยงการซื้อขายหุ้นอาเซียน โดยวานนี้ตลาดหุ้นไทย ได้เข้าร่วม Asean Trading Link เชื่อมต่อกับตลาดหุ้นมาเลเซียและสิงคโปร์ โดยผู้ลงทุนสามารถซื้อขายหุ้นของตลาดหลักทรัพย์ทั้ง 3 แห่งผ่านช่องทางเดียว (Single Access Point)

ตลาดหลักทรัพย์ทั้ง 3 แห่ง มีขนาดใหญ่ที่สุด 3 อันดับแรกในภูมิภาคอาเซียน โดยมีบริษัทจดทะเบียนรวม 2,200 แห่งให้เลือก ซึ่งมีมูลค่ามาร์เก็ตแคปรวม 1.4 ล้านล้านดอลลาร์ หรือ 70% ของมูลค่ามาร์เก็ตแคปรวมทั้งอาเซียน ซึ่งเป็นการเพิ่มโอกาสลงทุนให้กับผู้ลงทุน และบริษัทจดทะเบียนไทย อีกทั้งเพิ่มโอกาสทางธุรกิจของบริษัทหลักทรัพย์ท้องถิ่นด้วย

ทั้งนี้ บริษัทจดทะเบียนของไทย ที่ถูกคัดเลือกติดอาเซียนสตาร์ 30 แห่ง จะถูกพิจารณาจากมูลค่ามาร์เก็ตแคป และสภาพคล่อง ได้แก่ กลุ่มธนาคาร 6 แห่ง คือ ธนาคารกรุงเทพ กรุงศรีฯ กรุงไทย กสิกรไทย ทหารไทย และไทยพาณิชย์ กลุ่มสื่อสาร 3 บริษัท คือ บริษัทแอดวานซ์ อินโฟร์ เซอร์วิส บริษัท โทเทิ่ล แอ็คเซ็ส คอมมูนิเคชั่น และบริษัท ชิน คอร์ปอเรชั่น ส่วนกลุ่มพลังงานมี 8 บริษัท คือ บริษัท บ้านปู บริษัท โกลว์ พลังงาน บริษัท ไออาร์พีซี บริษัท ปตท บริษัท ปตท. สำรวจและผลิตปิโตรเลียม บริษัท พีทีที โกลบอล เคมิคอล บริษัทไทยออยล์ บริษัท ผลิตไฟฟ้า บริษัท ผลิตไฟฟ้าราชบุรีโฮลดิ้งฯ กลุ่มอาหาร คือ บริษัท ซีพี ออลล์ บริษัท เจริญโภคภัณฑ์อาหาร บริษัท ไทยยูเนียน โฟรเซ่น โปรดักส์


นอกจากนี้ยังมีบริษัท ท่าอากาศยานไทย บริษัท บีอีซี เวิลด์ บริษัท กรุงเทพดุสิตเวชการ บริษัท บิ๊กซี บริษัท เซ็นทรัลพัฒนา บริษัท อินโดรามา เวนเจอร์ส บริษัท แลนด์แอนด์เฮ้าส์ บริษัท ปูนซิเมนต์ไทย และบริษัท ปูนซีเมนต์นครหลวง

นายทาจูดดิน อาทาน ประธานเจ้าหน้าที่บริหาร ตลาดหลักทรัพย์มาเลเซีย กล่าวถึงความสำคัญของอาเซียนลิงค์ว่า เป็นระบบเชื่อมโยงการซื้อขายหุ้นที่มีประสิทธิภาพสูง ทำให้ผู้ลงทุนรับประโยชน์ จากศักยภาพการเติบโตของภูมิภาคนี้ได้ ซึ่งความสำคัญของโครงการนี้ ไม่ได้อยู่แค่การเชื่อมโยงระหว่างตลาดหุ้น แต่เป็นเครือข่ายที่ถูกสร้างขึ้นระหว่างตลาดหุ้น บริษัทหลักทรัพย์ และผู้ลงทุน ของตลาดหลักทรัพย์ทั้ง 3 แห่งที่ใหญ่ที่สุดในอาเซียน

ส่วนนายแมคนาส บอคเกอร์ ประธานเจ้าหน้าที่บริหาร ตลาดหลักทรัพย์สิงคโปร์ กล่าวว่า วานนี้บริษัทหลักทรัพย์ 31 แห่งจากมาเลเซีย สิงคโปร์ และไทย ได้เชื่อมโยงการซื้อขายในอาเซียนลิงค์แล้ว โดยมีบริษัทหลักทรัพย์ 5 แห่งที่ใหญ่ที่สุดในภูมิภาครวมอยู่ด้วย โดยบริษัทหลักทรัพย์ทั้ง 31 แห่งนี้ จะช่วยให้ผู้ลงทุนซื้อขายหุ้นอาเซียนได้ราบรื่น และทำให้เกิดสภาพคล่องมากยิ่งขึ้น ถือเป็นประโยชน์ต่อผู้ลงทุนและตลาดหุ้นภูมิภาคนี้

นายฮูเซยิน เออร์กัน เลขาธิการสมาพันธ์ตลาดหลักทรัพย์โลก กล่าวถึงความสำเร็จของการเปิดโครงการอาเซียนลิงค์ว่า เป็นบทพิสูจน์ความแข็งแกร่งและความร่วมมือของตลาดหลักทรัพย์อาเซียนที่บรรลุเป้าหมายสำคัญนี้ได้ เป็นการสร้างมาตรฐานใหม่สำหรับความร่วมมือระหว่างตลาดหุ้นในภาวะที่ตลาดทุนทั่วโลกเชื่อมต่อกันและต้องแข่งขันกันมากขึ้น

นายประสิทธิ์ ศรีสุวรรณ ประธานเจ้าหน้าที่บริหาร บล. คันทรี่ กรุ๊ป (CGS) เปิดเผยว่า แนวโน้มกำไรบริษัทปีนี้เติบโตเกินเป้าที่ตั้งไว้ 10%จากวอลุ่มที่เพิ่มขึ้นมาอยู่ระดับ 3-5 หมื่นล้านบาทต่อวัน จากช่วงครึ่งปีแรกที่วอลุ่ม 2 หมื่นล้านบาท จึงมีแนวโน้มจะจ่ายปันผลได้อย่างต่อเนื่องเป็นปีที่ 3 โดย 6 เดือนแรกของปีนี้ มีกำไรกว่า 122 ล้านบาท ส่วนครึ่งหลังของปีนี้ คาดจะกำไรเพิ่มมากขึ้น จากวอลุ่มเทรดที่เพิ่มขึ้น

ส่วนมาร์เก็ตแชร์ของบริษัทปัจจุบัน 5.5-6.5% เพิ่มขึ้นจากปีก่อนซึ่งอยู่ที่ 5% ปัจจุบันมีบัญชีลูกค้า 5 .5 หมื่นบัญชี และสิ้นปีนี้จะมีเพิ่มเป็น 6 หมื่นบัญชี มี 50 สาขา และปีนี้อาจเพิ่มอีก 1-2 สาขา ส่วนการเปิดอาเซียนลิงค์ บริษัทมีระบบพร้อมให้บริการถึง 24 ประเทศ โดยมีบัญชีลูกค้าที่สนใจจะเทรดหุ้นต่างประเทศไม่เกิน 100 ราย ช่วง 3 เดือนสุดท้ายของปีนี้ บริษัทมีลูกค้าที่รับเป็นที่ปรึกษาทางการเงินเสนอขายหุ้นไอพีโอ 2-3 ราย ที่เตรียมเข้าตลาดหลักทรัพย์ เอ็ม เอ ไอ

http://www.bangkokbiznews.com/home/detail/finance/finance/20121016/474136/%E0%B9%80%E0%B8%9B%E0%B8%B4%E0%B8%9430%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97%E0%B8%88%E0%B8%94%E0%B8%97%E0%B8%B0%E0%B9%80%E0%B8%9A%E0%B8%B5%E0%B8%A2%E0%B8%99%E0%B9%84%E0%B8%97%E0%B8%A2-%E0%B8%95%E0%B8%B4%E0%B8%94%E0%B8%AD%E0%B8%B2%E0%B9%80%E0%B8%8B%E0%B8%B5%E0%B8%A2%E0%B8%99%E0%B8%AA%E0%B8%95%E0%B8%B2%E0%B8%A3%E0%B9%8C.html
 

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Appleich
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Asean Exchanges' strategy to bolster asset class

The Nation October 16, 2012 1:00 am

Asean Exchanges, a collaboration of the seven stock exchanges of the bloc, yesterday unveiled several key milestones in the development of the Asean asset class.

"For the first time ever, with Bursa Malaysia, Singapore Exchange and now the Stock Exchange of Thailand connected, investors have single-entry-point access to three of the largest equity markets of Asean," SET president Charamporn Jotikasthira said.

"Together the three markets offer investors easier access to more than 2,200 listed companies with a market capitalisation of US$1.4 trillion, which accounts for nearly 70 per cent of the total market capitalisation of Asean," he said at a news conference at the World Federation of Exchanges 52nd General Assembly and Annual Meeting.

Asean Exchanges made history yesterday when the SET became the third member to connect to the Asean Trading Link, after Bursa Malaysia and Singapore Exchange did so last month.

Magnus Bocker, chief executive officer of the Singapore Exchange, said 31 brokerages from across Malaysia, Singapore and Thailand - including the five biggest regional houses - were connected on the Asean Trading Link.

"These brokers can now offer investors seamless access across the connected Asean markets. In time, this infrastructure could beget more liquidity, benefiting investors and markets of this region," he said.

Ito Warsito, CEO of the Indonesia Stock Exchange, said Asean Exchanges was focused on delivering four implementation pillars - driving cross-border collaboration, streamlining access to Asean, creating Asean-centric products, and implementing targeted promotional initiatives.

Tran Dac Sinh, chairman of the Hochiminh Stock Exchange, said the newly enhanced website - Aseanexchanges.org - was a clear testament to the strength of the Asean Exchanges collaboration. It had set a strategy of working with best-in-class partners from around the world to raise the profile of the Asean asset class.

The website provides a single, integrated view of the Asean market, aggregated Asean market data and analytics in a single location, and the performance of the seven exchanges individually, the CEOs said.

It is built around the Asean Stars, the 180 Asean blue-chip stocks that represent the 30 most exciting companies of each Asean country as ranked by investability in terms of market capitalisation and liquidity, they said.

Tran Van Dzung, CEO of the Hanoi Stock Exchange, said that with a collective market capitalisation of $2 trillion (Bt61 trillion), there were opportunities in the Asean markets. The exchanges of Vietnam were actively collaborating with the five other exchanges to build the Asean asset class and were eager to connect their markets when conditions permit.

Thomson Reuters has developed a series of Asean-centric Reuters Instrument Codes, while the "FTSE/Asean Indices Weekly Report" will be available on the Asean Exchanges website.

http://www.nationmultimedia.com/business/Asean-Exchanges-strategy-to-bolster-asset-class-30192398.html
 

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Thailand Financial and Investment Market

List of banks in Thailand

17 Local Thai Commercial and Retail Banks

6 Local Commercial Banks ranked by total asset (data from Forbes 2000)

Rank Name Total Asset

1 Bangkok Bank US$ 66.8 billion
2 Krungthai Bank US$ 62.3 billion
3 Siam Commercial Bank US$ 59.5 billion
4 Kasikorn Bank US$ 54.5 billion
5 Bank of Ayudhya US$ 29.9 billion
6 Thanachart Bank US$ 28.4 billion

15 Local Commercial Banks ranked by total asset as of Dec 31, 2007
With total combined asset of US$ 277 billion
Using an exchange rate of 1 USD = 31.5 Baht

Rank Name Total Asset

1 Bangkok Bank US$ 55.0 billion[1]
2 Krungthai Bank (56% owned by Thai government) US$ 38.1 billion
3 Siam Commercial Bank US$ 40.0 billion[2]
4 Kasikorn Bank US$ 30.8 billion[3]
5 TMB Bank (30% owned by ING, 7% DBS, 26% Thai Ministry of Finance, 2% Thai military) US$ 25.7 billion
6 Bank of Ayudhya US$ 21.2 billion
7 Kiatnakin Bank US$ 18.1 billion
8 Siam City Bank (99% owned by Thanachart Bank and to be merged with Thanachart Bank) US$ 13.5 billion
9 Thanachart Bank (49% subsidiary of Scotiabank of Canada) US$ 8.4 billion
10 CIMB Thai (subsidiary of CIMB of Malaysia) US$ 8.2 billion
11 Standard Chartered Bank (Thai) (subsidiary of Standard Chartered Bank of the UK) US$ 6.1 billion
12 United Overseas Bank (Thai) (subsidiary of UOB of Singapore) US$ 5.9 billion
13 Tisco Bank US$ 3.4 billion
14 ICBC Bank (subsidiary of ICBC of China) US$ 2.1 billion
15 Mega ICB (subsidiary of Mega ICB of Taiwan) US$ 0.4 billion

2 Local Retail Banks

Rank Name Total Asset

1 LH Retail Bank US$ 980 million
2 The Thai Credit Retail Bank US$ 81 million

15 Foreign Banks with a Full Branch (one location) in Bangkok

With total combined asset of US$ 36 billion
Ranked by total asset as of Dec 31, 2006

Rank Name Total Asset

1 The Bank of Tokyo-Mitsubishi (Japan) US$ 7.3 billion
2 Citibank (US) US$ 5.7 billion
3 Sumitomo Mitsui (Japan) US$ 5.6 billion
4 Mizuho (Japan) US$ 4.4 billion
5 HSBC US$ 3.7 billion
6 Others US$ 3.8 billion
Total US$ 36.1 billion

5 Foreign Banks (European)

ABN-AMRO Bank N.V.
BNP Paribas
Calyon Corporate & Investment Bank
Deutsche Bank
HSBC

7 Foreign Banks (Asian)

Bank of China Ltd.
Indian Overseas Bank
Oversea Chinese Banking Corp. Ltd.
RHB Bank Berhad
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Sumitomo Mitsui Banking Corporation
Mizuho Corporate Bank, Ltd.

3 Foreign Banks (North American)

Citibank Thailand
JP Morgan Chase
Bank of America N.A.

Representative offices in Bangkok, Thailand

American Express Bank
Australia & New Zealand Banking Group Ltd.
Bank of Baroda
Bank of New York
Bayerische Landesbank Girozentrale
Cathay United Bank
Chinatrust Commercial Bank Ltd.
Commerzbank Aktiengesellschaft
Credit Industrial ET Commercial (CIC)
Credit Suisse
DBS Bank Ltd
DEG-Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG)
EFG International
First Commercial Bank (Republic of China)
Hachijuni Bank Ltd.
ICICI Bank Ltd.
ING Bank NV
INTESA SanPaolo S.P.A.
Japan Bank for International Corporation
Merrill Lynch International Bank Ltd.
Natexis Banques Populaires
Rabobank Nederland
RBS - The Royal Bank of Scotland
Resona Bank Ltd.
UBS AG
United World Chinese Commercial Bank
Westdeutsche Landesbank Girozentrale
SANPAOLO IMI S.P.A.
Union Bank of California, N.A.
The Daiwa Bank Ltd.
The Asahi Bank Ltd.
The Yamaguchi Bank Ltd.
The Development Bank of Singapore Ltd.
Wells Fargo Bank N.A.
Westpac Banking Coporation
The World Bank
http://en.wikipedia.org/wiki/List_of_banks_in_Thailand#Representative_offices_in_Bangkok.2C_Thailand
 

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BOT, Finance agree on forex policy
Suphannee Pootpisut, Sucheera Pinijparakarn, Piyanart Srivalo
The Nation May 8, 2013 1:00 am


Areepong Bhoocha-oom
The Finance Ministry and the Bank of Thailand have finally agreed on a policy mix to manage the exchange rate, apparently coming to terms after their conflict intensified in the past weeks as the baht climbed more than 7 per cent.

"There is no action now, but the measures are ready. At 29.5-29.6 against the US dollar, the baht has stabilised. The Bank of Thailand will be in charge of management, while the Finance Ministry will keep the Cabinet updated," Areepong Bhoocha-oom, permanent secretary for the ministry, said after the Cabinet meeting yesterday.

If the policy rate is lowered, supporting measures would be required to control lending, so a package has been prepared for implementation when necessary, he said.

The 4 options

1. Bar foreign purchases of BOT bonds or set minimum holding period

2. Bar foreign purchases of short-term government bonds or state enterprise bonds, with 3-6 months of maturity

3. Levy a charge on foreign bond purchases

4. Impose compulsory hedging to limit foreign investors’ gain in exchange rate movement

The baht weakened sharply. At 8am, it was at 29.57 per dollar. Up 0.19 per cent from Friday, it was 0.76 per cent down from the end-March level. At 29.65 at 3pm, the year-to-date gain was narrowed to 3.1 per cent from 7 per cent when the baht hit 28.56 in April - the strongest level since July 1997.

The central bank has been under pressure from both the public and private sectors to cut the policy rate, also when the baht appreciated by more than 8 per cent against the yen.

MR Pridiyathorn Devakula, a former Bank of Thailand governor, said the central bank had been a bit slow in intervening in the forex market, but the situation was now under control thanks mainly to the BOT's admission that the baht had risen "too fast". This had a psychological impact on the market, sending a signal that the authorities would not stand still.

Referring to his conversation with BOT Governor Prasarn Trairatvorakul, he said new measures should be enforced soon to tame capital inflows, such as rules to limit foreign bond purchases, as inflows to the bond market have had a great influence on the baht. This measure would not lead to a fall in stock prices or discourage foreign direct investment.

Foreign net purchases of Thai bonds totalled US$12 billion (Bt355 billion) in the first four months.

Pridiyathorn said it was a good sign that Prasarn and Finance Minister Kittiratt Na-Ranong could now see eye to eye. Both organisations must cooperate and this would prevent speculation.

"Things are improving. The baht should not rise further," he said. "A policy framework will make it difficult to speculate."

The Cabinet gave the green light for the Mass Rapid Transit Authority of Thailand to swap baht into yen to pay off a Bt41.55-billion loan from Japan, Transport Minister Chadchart Sittipunt said. The early repayment saves the MRTA about Bt3.73 billion in interest expense.

The Cabinet spent about 45 minutes discussing the exchange-rate issue. Kittiratt still appeared emotional. He said that among the BOT's proposed measures was a limit on state-enterprise bond sales to foreigners. A 30-per-cent capital requirement like the one imposed in 2006 could send the stock market into a spin, he said.

The central bank also suggested legal amendments. The Finance Ministry asked it to specify which parts and which agencies should be responsible for that.

"It's like the BOT is throwing the ball back to the government, forcing the government to take responsibility. Indeed, this is within the authority of the Monetary Policy Committee, but the BOT shoulders no responsibility," said Kittiratt, whose pleas for the central bank to lower the policy rate have been in vain.

Several ministers shared their views on the baht's impacts. Citing the 41-per-cent fall in jewellery exports, Commerce Minister Boonsong Teriyapirom complained that the central bank did not heed the government's advice on the interest rate.

They agreed that the Finance Ministry and BOT should improve their coordination and brief the government on their policy direction. Prime Minister Yingluck Shinawatra, who refused to comment on Prasarn's performance, instructed all ministries to survey the baht's impacts and submit their findings to the National Economic and Social Development Board.

She told reporters that since the central bank has full authority over the baht's management, conflicting opinions with the government could be resolved only through dialogue, indicating that there would be no interference from the government.

Prasarn has continually insisted that a policy-rate cut could send the wrong signal. Loans could spike and threaten financial stability. He was also not convinced that a lower rate would slow down capital inflows, given the huge excess of global liquidity and strong economic fundamentals of Thailand.

Pridiyathorn also backed up Prasarn's policy-rate stance, saying a reduction might not help much as inflows would continue.

Australia's central bank shaved 25 basis points off its interest rate, bringing it to 2.75 per cent - the same as Thailand's.
www.bangkokpost.com
 

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IPO to finance Nok's move for regional expansion
Bamrung Amnatcharoenrit
THE NATION
Chiang Rai May 13, 2013 1:00 am

Nok Airlines Plc (NOK), owner of national low-cost carrier Nok Air, will float its initial public offering of 187.5 million ordinary shares next month. It expects to raise Bt5 billion.

The funds raised will be spent on buying new aircraft to expand its fleet and also invest as working capital to secure its long-term business, according to Vitai Ratanakorn, the company's chief financial officer.

It will be the first airline to list on the Stock Exchange of Thailand (SET) this year. Bangkok Airways, another low-cost airline, is expected to follow its move. It is projected that NOK will be traded on the SET by the end of next month. Siam Commercial Bank Plc (SCB) is its financial adviser with SCB Securities Co as the sole lead underwriter.

It submitted its filing to the Securities and Exchange Commission (SEC) on March 6.

Out of 187.5 million IPO shares, 62.5 million are existing shares, while the remaining 125 million are newly issued. Its paid-up capital will be raised to Bt625 million from Bt500 million at present. Its par value is one baht.

Today, Thai Airways International Plc, the national carrier, holds a 49-per-cent stake in the company. After the IPO, its share will be reduced to 39.2 per cent. The remaining shareholders are Aviation Investment International, holding 10 per cent; CPB Equity with 4.8 per cent; Patee Sarasin, who is NOK CEO; SCB; King Power; and the Asvinvichit family - each holding four per cent.

Despite THAI's majority stake in NOK, the company's board remains independent. The company said the IPO would not effect its current shareholders, who would continue to receive the same benefits they have received since operations began.

Founded in 2004, the firm has enjoyed steady growth. Last year, its net profit was recorded at Bt504.7 million over total sales of Bt8.21 billion. In the first quarter of this year, its net profit was at Bt425.3 million over total sales of Bt2.81 billion, thanks to its strategic network expansion.

It is anticipated that 2013 will see the highest profit earnings for the company since its operations commenced. Its new energy-saving Boeing 737-800 aircraft are also expected to boost company earnings this year.

From 2010-2012, Nok's sales revenue grew more than 40 per cent annually, as it maintained a cabin factor of 80 per cent.

This year, the company said its cabin factor - number of passengers per flight - regularly reached 90 per cent.

In addition, the airline projects it will carry 6 million passengers in total this year, up from 4 million last year. The domestic market is its core business with 23 routes. The company also boasts the highest flight frequency with 483 per week. Rival AirAsia currently has 13 routes with a flight frequency of 333 per week.

The airline has 41 per cent of the domestic market in the low-cost segment and projects that this will increase steadily over the next few years. In Thailand, the firm believes that there is more room for growth, especially flying from city to city, without flying via Bangkok.

Regionally this year, the firm will launch flights from Mae Sot to two cities in Myanmar - Mawlamyine in September and Yangon in October - using smaller aircraft. In November, it will also launch flights to Yangon from Bangkok’s Don Mueang International Airport. Myanmar is a key focus for the airline this year, as it plans to consolidate its existing network and look for new investment opportunities as the country opens its doors to foreign investment.

The airline is also considering flights from Chiang Mai to other cities in Myanmar, including Mandalay and Bagan.

The opening of the Asean Economic Community (AEC) in 2015 will provide more opportunities for low-cost carriers. Geographically, Thailand is considered a regional hub, with flying time to regional destinations averaging four-and-a-half hours.

Vitai said regional expansion of its network would be step by step, due mainly to the limited number of aircraft at its disposal. The launch of any new routes would depend solely on whether they were guaranteed to be profitable, he said. In the past, the airline has been forced to cancel services to Bangalore, India, and Hanoi, due to rising fuel costs and the weakening baht.

Nok Air currently has 16 aircraft in its fleet, with plans to increase that number to 23 next year and 30 in 2015 - an increase in seat capacity of 37 per cent annually until 2015. Its aircraft include the ATR and Boeing 737-800, with an average age of 7 to 8 years.
http://www.nationmultimedia.com/business/IPO-to-finance-Noks-move-for-regional-expansion-30205962.html


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Easing of monetary policy to boost SET
Therdsak Thaveeteeratham
Senior vice president for research
Asia Plus Securities May 13, 2013 1:00 am

Global and domestic moves buoy analysts hopes for local market

Hopes have been renewed that Asian stock markets will be driven up by excess liquidity after monetary easing in many countries. This began with the European Central Bank cutting its benchmark rate by 25 basis points to 0.5 per cent and signalling a possible lowering of the rate to below 0 per cent if necessary. Central banks in India, Australia and South Korea also cut their benchmark rates to pursue economic stimulus.

Side effects have unavoidably followed, with capital flowing into risky assets. While several Asian countries have cut their rates, Thailand maintains its policy rate. The Kingdom could remain a target for capital inflows, pressuring the baht. This could put pressure on the Bank of Thailand (BOT)'s Monetary Policy Committee (MPC) to slash the policy rate at its next meeting on May 29.

Today, the Ministry of Finance will meet with officials from the BOT and the Federation of Thai Industries. The meeting is expected to focus on assessment of data and possible impacts of the May 29 MPC meeting. If the MPC cuts the rate, the stock market will benefit, given the wider gap of returns on investment between stocks and bonds. Thus, there could be some capital moving into the stock market, which could see the Stock Exchange of Thailand (SET) Index's price-equity ratio stay above 17 times for another period. The current price-equity ratio is 17.5 times.

Based on data gathered until noon on Friday, it was found that 105 listed companies announced their earnings performance. Most of them were large companies in the banking, communications, energy-petrochemical and construction-materials sectors. Net profit totalled Bt140 billion, up 21.5 per cent year on year and 14.3 per cent quarter on quarter.

This high growth helped push up the SET Index in the past one to two weeks.

Investment themes

This week the SET is expected to continue to see volatility. An option for investors is to select stocks for trading based on first-quarter earnings announcements. This week will see small and medium-sized companies making performance announcements, which may not affect the whole market, but could stimulate individual-stock trading.

Our stock pick is AMC (fair value Bt5.12). In the first quarter, it is expected to see net profit double from the same period last year. The current stock price remains below fundamentals. Its price-equity ratio is below eight times with dividend yield of higher than 6 per cent. We also recommend stocks that will be added to the SET50. Another stock pick is CK (fair value Bt30.74), based on the bright prospects for the construction business.

Chaiyaporn Nompitakcharoen

Head of research,

Bualuang Securities

The Stock Exchange of Thailand (SET) gained a further 2.8 per cent week on week, as market risk diminished. Easing monetary policy by major central banks and better-than-estimated earnings drove global stock markets last week.

Last Thursday, US jobless claims were down for the third straight week, 12,000 lower than the consensus estimate of 335,000. This number offers solid signs of improvement in the US labour market.

For Thailand, stock market concerns regarding measures to deal with the baht's appreciation have been eased as four measures proposed by the Bank of Thailand are mainly focused on the bond market.

We expect the SET to rise to test its major resistance of 1,680 in the next couple weeks, as it passed through the psychological barrier of 1,600 quite easily. Apart from the baht appreciation, we don't see any major negative news to pull market down at moment. We recommend a selective-buy strategy. Our top picks are AH, MAJOR, AS, KAMART and CPN.
http://www.nationmultimedia.com/business/Easing-of-monetary-policy-to-boost-SET-30205953.html
 

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Commercial banks' lending grows 13.2% in first quarter
The Nation May 10, 2013 1:00 am

On higher private consumption and investment, commercial banks' credit continued to expand 13.2 per cent year on year in the first quarter.

Anupap Kuvinichkul, senior director of the Financial Institutions Strategy Department at the Bank of Thailand, said business credit, which accounted for 69.9 per cent of the total, grew by 10.4 per cent in the first three months of this year. That level of growth was down slightly from a year earlier partly because large operators were turning more to debt and equity instruments for fund mobilisation.

Credit to small and medium-sized enterprises, which amounted to 36.7 per cent of business credit, rose 16.2 per cent. Credit extension was seen in the commerce, manufacturing, property and utility sectors. Consumer credit, which accounted for 30.1 per cent of the total, expanded 20 per cent over the first quarter of last year.

Outstanding non-performing loans rose slightly from the previous quarter to Bt256 billion.

Outstanding special mention loans were Bt251.2 billion.

Given likely economic fluctuations, commercial banks set aside more provisions to 158.9 per cent of requirements.

Despite satisfactory credit growth, commercial banks saw a drop in net interest margin to 2.49 per cent because of high competition in the consumer-loan segment.

Commercial banks' net profit totalled Bt52.3 billion in the first quarter of 2013, up 33.5 per cent from the prior quarter. Return on assets was 1.4 per cent.

Their overall capital adequacy ratio was 15.8 per cent, according to Basel III requirements.

Meanwhile, the Thai Life Assurance Association revealed that life-insurance premiums grew by 20 per cent year on year to about Bt109.5 billion in the first quarter, higher than the association's whole-year target of 17.3-per-cent growth. First-year premiums reached Bt38.3 billion in the quarter.

The association attributed the growth to better consumer understanding of the insurance business as well as the expansion of channels for accessing insurance service.

The people are also more interested in insuring their health, which coincides with the worldwide trend to longer life spans.
http://www.nationmultimedia.com/business/Commercial-banks-lending-grows-13-2-in-first-quart-30205809.html
 

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BoT wants state banks’ lending curbed
Published: 15 May 2013 at 12.03Online news: News

The Ministry of Finance will study a proposal by the Bank of Thailand that lending by state-owned banks should be controlled to curb overheated business in some sectors, Somchai Sajjapongse, director general of the Fiscal Policy Office (FPO), said on Wednesday.

The central bank said in its proposal that set targets would not be fully achieved if lending control measures were imposed only on commercial banks, because state-owned banks’ lending accounted for one-third of total lending.

Mr Somchai said lending by state-owned banks is different from lending by commercial banks. Giving loans to retail clients carries more risk. Lending control measures for commercial banks could not be applied to these special task banks.

The Finance Ministry will have to study the proposal to see whether it can be done, to avoid harmful impact on the state banks and their giving loans to boost the economy of the grassroots sector, he said.

The FPO director general said the central bank had asked that commercial banks refrain from offering interest-free housing loans. Both the Government Savings Bank and the Government Housing Bank have offered housing loans at zero-percent-interest for a period of six months.
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More interest rate cuts keep stocks rising
00.00Newspaper section: Business

Recap: A new round of policy rate cuts by the central banks of Australia and South Korea lifted regional stock markets including Hong Kong, China, Indonesia, Malaysia and Thailand last week.

Upbeat earnings of listed companies and gains in telecom blue chips following the official rollout of 3G mobile broadband services also helped send the SET index above 1,600 points again.

The main gauge traded in a range of 1,572.74 and 1,626.99 points and closed on Friday at 1,622.48 points, up 2.7% from a week earlier, with daily average trading volume of 51.94 billion baht.

Foreign investors sold 5.49 billion baht more than they bought, while institutional investors were net buyers of 1.08 billion, brokers 2.95 billion and retail investors 1.46 billion baht.

Big movers: Sanko Diecasting (SANKO) made its MAI debut on Thursday, opening at 3.68 baht and closing at 2.80 baht, up 116% from its IPO price of 1.30 baht. The stock closed on Friday at 2.56 baht.

ICT shares and CPALL were tops in trading value. INTUCH closed up 3.8% at 88.50 baht, and its mobile flagship ADVANC rose 7.9% to 287 baht. CPALL rose 1.2% to 41 baht, while the developer N-PARK topped the volume chart, unchanged at 17 satang.

Indara Insurance (INSURE), the top gainer last week, rose 28.8% to close at 83.75, while Thailand Carpet Manufacturing (TCMC), the top loser, fell 78.9% to 4.44.

Newsmakers: Several central banks continued their monetary easing. The Reserve Bank of Australia cut its rate by 25 basis points to 2.75%, the lowest in history.

- The baht fell noticeably to 29.71/73 after Bank of Thailand and Finance Ministry officials met to agree on ways to keep the currency in check. They will meet again today.

- The Monetary Policy Committee (MPC) may defy pressure for an interest rate cut if the state of the economy does not warrant it, in order to maintain the credibility of monetary policy, says Bank of Thailand governor Prasarn Trairatvorakul.

- SCB, KBANK and BBL scrapped zero-interest mortgages, their standard offer at the Money Expo for the past 13 years, to address regulators' concerns about a property bubble, but other banks continued their offers. KB and GH Bank offer the longest interest-free period at eight months, while TBANK and GSB offer six months.

- The Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) will add more assets in the second half of this year: a Tesco Lotus branch in the Nava Nakorn area of Pathum Thani and other potential stores.

- PTT Exploration and Production Plc (PTTEP) wants to invest in North American shale gas through a joint investment with strategic partners.

- Malaysia's KSK Group Bhd, formerly Kurnia Asia Bhd, has restructured its management and injected new capital into its Thai operation to serve expansion.

Coming up this week: China will report retail sales, industrial production and loan growth for April. Singapore will report first-quarter GDP, the US will report retail sales, and the Bank of Indonesia will meet.

- Cho Thavee Dollasien (CTV-Doll), a maker of truck and trailer bodies and components, will begin trading on the MAI after staging an IPO at 1.80 baht per share.

Stocks to watch: Trinity Securities says investors should watch stocks that have potential to join the SET50 and SET100 at the next revision on July 2. Likely SET50 entrants are: CENTEL, GLOBAL and CK. Stocks that might leave the SET50 are: TISCO, SPALI and ESSO. Potential SET100 additions are VGI, MBK, UV, WHA, SRICHA, GOLD, UMI, TFD, DEMCO, MDX and KCE. Likely to be cut are KSL, TICON, SSI, WORK, SGP, GFPT, PTL, TASCO, SVI, LANNA, RML and AJ.

- Phillip Securities notes that from May 20-22, Deutsche Bank will take representatives from PTT, CPF, SCB, TUF, TISCO and TRUE on an investor roadshow to Singapore.

Technical view: Asia Plus Securities sees support at 1,601 and resistance at 1,647. Tisco Securities sees support at 1,610 and resistance at 1,650.
www.bangkokpost.com
 

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TFEX
Bangkok

The Thailand Futures Exchange PCL (TFEX), under The Stock Exchange of Thailand group, wrapped up its first “TFEX Open House” with a success. The event, aimed at helping expand the quality investor base and held during April 27-28 at Queen Sirikit National Convention Center, Bangkok, attracted more than 2,500 participants, of which 80% were first-time derivatives investors, who joined the event to gather information on derivatives to help them make investment decisions.

TFEX Managing Director Kesara Manchusree said: “The 1st TFEX Open House, which was conceived to help educate first-time derivatives investors, has been successful both in terms of the number of participants and their positive responses to boost their investment expertise. At the event, participants enjoyed picking up investment information from simulation classrooms, ranging from basic derivatives trading to advanced investment techniques and technical analysis of TFEX products. Participants also had opportunities to try virtual trading via the internet using the TFEX Click2Win program, learn more about TFEX station, which is an 24 hour online-learning center and information service, and discuss their portfolio management one-on-one with experts. We were impressed by the total of 535 new trading accounts that were recorded at the event.”

The TFEX Open House will be held on a quarterly basis, with up-to-date information to be offered to participants. The next events are scheduled for July 13-14 and October 19-20. For more information, please visit www.tfex.co.th or contact S-E-T Call Center at 0 2229 2222.
http://www.ryt9.com/es/prg/137406
 
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