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BoT asks private sector to use caution in business dealings in 2010

Thai bourse gains 63% in 2009 from 2008

BoT asks private sector to use caution in business dealings in 2010

Despite signs of improvement in the global and Thai economies in 2010, the Bank of Thailand (BoT) has warned the private sector to use caution when doing business deals as risks and an uncertainty continue to be negative factors.
BoT deputy governor Bandid Nijathaworn said volatility in the money market may persist this year, noting that the central bank will intervene if necessary to prevent obstacles from occurring. It is still necessary for the private sector to adjust in the uncertain business climate.
“There are positive signs for the economy in 2010, but we shouldn’t become reckless because uncertainty still prevails. The private sector should do business with caution,” Bandid said.
The private sector must depend on itself as it also must manage costs efficiently.
Financial costs are expected to rise after the government-sponsored economic stimulus package starts to run down and volatility in money market shows sign of increasing, he said.
The private sector cannot compete on the basis of cost-cutting alone. It must explore ways to expand trade and investment and prepare for business competitors from neighboring countries who would open businesses in Thailand, Bandid added. (TNA)
 

Thai bourse gains 63% in 2009 from 2008

Despite economic problems within and outside Thailand along with the domestic political crisis, the Stock Exchange of Thailand (SET) index in 2009 soared 63 percent above 2008, while the daily average turnover last year was about Bt17.9 billion, up 12.5 percent from 2008, said SET president Pattareeya Benjapolchai.
The SET index on December 30, the last trading day of 2008, the market stood at 734.54 points.
The smaller Market for Alternative Investment (MAI) closed at 215.30 points on the same day, a rise of some 32 percent from a year ago, while daily average turnover was at Bt372 million, an increase of some 50 percent from the year before.
As of December 29, foreign investors were the largest net buyers with total net investment of Bt38.5 billion, and were net sellers of Bt162.3 billion in 2008.
Six firms were listed on the main bourse and 11 companies were listed on the MAI in 2009. The newly listed firms mobilized funds of Bt6.2 billion.
Pattareeya said the SET had laid out four strategies to implement in 2010, with an aim to increase its potential and to drive the national economy.
The strategies are to boost the quality and upgrading confidence in the SET, increasing liquidity, building future fundamentals, and preparing for SET restructuring, as it will become a public company, she said. (TNA)

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