Bangkok--27 Mar--SET
The Stock Exchange of Thailand (SET)’s Corporate Strategy and Development publishes SET Note Corporate Update for Q1/2009 analyzing listed firms' operational efficiency, investment and funding. The report reveals that in Q4/2008 the Thai listed-firms (excluding those in the financials and non-performing groups) invested in fixed assets at THB125 billion (approx. USD3.58 billion), or 43.1% increase y-o-y. In Q4/2008, listed firms collectively raised about THB220 million (approx. USD6.30 million) in funds all through secondary market.
In Q4/2008, Thai listed companies (excluding those in the financials and non-performing groups) collectively invested in fixed assets of THB125 billion (approx. USD3.58 billion), a 43.1% increase year-on-year (y-o-y). The Resources Industry Group invested the most, at THB66 billion (approx. USD1.89 billion), a 56.7% y-o-y rise, followed by the Service Group at THB18 billion (approx. USD0.52 billion), up 46.5% y-o-y.
In Q4/2008, listed firms collectively raised about THB 220 million (approx. USD6.30 million) in funds. Almost all of the funds raised was from the secondary market (none from initial public offerings), consisting of THB153 million (approx. USD4.38 million) from private placement, followed by THB54 million from exercise of warrants (using XE rights) and THB12 million from existing shareholders (using XR rights).
On operational efficiency in Q4/2008, the return on capital employed (ROCE) for listed companies collectively dropped from 3.3% to (2.2%), while return on equity (ROE) decreased from 3.1% to (4.2%). The Agricultural and Food Industry Group had the best ROE, at 0.8%. The Thai capital market’s collective net profit margin plunged from 6.8% to (8.2%).
The report also found that in Q4/2008, listed-firms’ collective net cash inflow was THB79 billion (approx. USD2.26 billion), which was from operating activities; their cash inflow of THB230 billion (approx. USD6.59 billion) was higher than their cash outflow from investment at THB150 billion (approx. USD4.30 billion).
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