Bangkok--3 Jul--SET
“The roadshow to build US and British institutional investor confidence through ‘Thailand: Strength in Global Adversity’ during June 24-29 was a success. It received great attention from 86 fund managers from 74 companies, with total assets under management of THB6.8 trillion (approx. USD200 billion). Meanwhile, nine leading listed firms joining the roadshow had 258 meetings with foreign institutional investors,” revealed The Stock Exchange of Thailand (SET) President Patareeya Benjapolchai.
Deputy Finance Minister Pradit Phataraprasit joined the roadshow and helped build investor confidence about the Thai political and government stability, as he revealed how stimulus plans will result in economic recovery and also pointed out the financial stability and strength of Thai financial institutions. He also noted that the stimulus plan will also help the export sector recover, and that Thai GDP should rise from the previously-forecasted 2.5% for 2010 to the revised figure of 4.1%, then 5.2% in 2011 and 5.5% in 2012.
This roadshow’s timing was excellent, as net profit of listed companies in Q1/2009 had risen by over 100% on a quarter-on-quarter basis, said Ms. Patareeya. “Many investors had invested in big-cap stocks in the banking, energy, property, telecommunication, and logistic industry groups. Many of them think that Thai stocks are more interesting than other ASEAN countries, while some of them confirmed that there would be no withdrawals from the Thai market even though there was some concern over Thai politics last year, which investors viewed as giving fund managers more chances to invest in Thai listed firms.”
Moreover, “investors found that they can access information easily, especially on SET websites, which is full of useful information, and they had easy access to key executives of listed firms, with good cooperation,” said Ms. Patareeya.
“This roadshow is a success, since foreign institution investors joining the roadshow so much in assets under management. Roadshow in United Kindom, participants came from Italy, the Netherlands, and France, in addition to the United Kingdom,” reported Thanachart Securities PCL Managing Director Asvini Tailanga.
“Many foreign investors agree that Thai economic conditions had come to its lowest point and will tend to recover. They also agree that the Thai political condition has become more stable. Most investors are interested in companies with market capitalizations of THB10+ billion (approx. USD293 million) and average trading liquidity of THB100+ million (approx. USD2.9 million) per day. Therefore, if the Thai market has stocks with large market capitalization and more liquidity, there will be more investment since investors will have more confidence in political and economic situations,” said Ms. Asvini.
“Thailand: Strength in Global Adversity” is the result of cooperation between BNP Paribas (Asia), SET, and Thanachart Securities PCL. Nine listed firms participating in the event, i.e., Advance Info Service PCL, Bangkok Bank PCL, Banpu PCL, Khon Kaen Sugar Industry PCL, PTT PCL, PTT Exploration and Production PCL, Thai Airways International PCL, Thai Tap Water Supply PCL and Thai Union Frozen Products PCL.
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