Bangkok--8 Mar--Siam Commercial Bank
Siam Commercial Bank projects that the Thai economy for 2016 will improve, driven by consumption and investment both from the government and private sector, including the tourism segment. However, the market is still vulnerable due to the current global economic situation. SCB therefore recommends that investors make stringent investment and risk management plans. The Bank recently offered in-depth investment trend perspectives at its "SCB Investment Symposium 2016 – Thailand Ahead" event, which saw economic, capital market, and investment gurus unveil their perspectives on management planning and dealing with challenges effectively.
Siam Commercial Bank President Mr. Yol Phokasub said that Thailand's economy in 2016 is expected to gradually recover and should expand by no less than 2.5% throughout the year, with local demand the main engine, especially from government sector infrastructure and mega projects expected to draw disbursements of 66.8 billion baht this year. These government projects will prompt investment and consumption from the private sector, while tourism will continue expanding significantly. However, we must accept that the global economy is still fragile and sensitive to a number of risk factors, such as a sluggish economy in China, plunging oil and commodity prices, and the monetary policies of the world's powers. These factors can materially affect market confidence, as witnessed by recent severe fluctuations in global capital markets due to economic problems in China. Despite the positive trend, investors should still remain alert, and closely monitor situations while making cautious business plans based on prevailing situations and hedging risks to ensure that their businesses will be able to manage costs effectively.
"Currently, the global market is vulnerable to news and incidents. Business operators at every level, including large corporations, SMEs, and investors must recognize the importance of risk management and diversification. We believe that in 2016 the global economy will still face many challenges and vulnerabilities, and Thailand will not be able to avoid the consequences of such impacts. If we can tackle those challenges effectively, the Thai economy will definitely progress to its full potential and should strongly increase its competitiveness in the global arena."
Realizing the importance of the impact of changing internal and external environments on government policies, market landscapes, capital flows and management planning of the business sector and households, SCB organized an "SCB Investment Symposium 2016 – "Thailand Ahead" event to disseminate useful information to customers, investors, and interested participants. The Bank invited experts from both the government and private sectors to speak on various topics, including Mrs.Kesara Manchusree, President of the Stock Exchange of Thailand, who spoke on the topic of "Bright Light of the Thai Stock Market" and provided perspectives on stock investment opportunities and risks; Dr. Pisit Puapan, Director of the Macroeconomics Analysis Division, Bureau of Macroeconomic Policy, Fiscal Policy Office, Ministry of Finance, who spoke on the topic of "Thai and Global Economic Perspectives" which provided an analysis of important events affecting government economic policies; and Mr. Narongsak Plodmecha, Managing Director & CIO, SCB Asset Management Co., Ltd., who spoke on the topic of "Investment Management for 2016" to provide tips on risk portfolio management for good returns.
SCB is confident that the symposium contributed information and insight from experts who truly understand both local and global economic fundamentals that will allow investors to optimize returns of their portfolio management plans. Moreover, businesses would be able to adopt the information to determine business strategies for competing in the global arena. SCB is ready to provide advice and offers a full range of investment products and services for all groups of customers.