Thailand 01 (May 08 - Apr 10)

Thailand 01 (May 08 - Apr 10)

Postby kennynah » Thu May 08, 2008 5:32 pm

wow...i am surprised by this fact ... hhmmmm.... dicey situation here...but usually Malaysia is quite well behaved...

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08 May 2008 09:28 GMT
[b]Thailand says Malaysia to buy emergency rice supplies


BANGKOK (Thomson Financial) - Thailand said on Thursday it would provide 500,000 tonnes of rice to Malaysia in an emergency purchase as the latter's national stockpile would last only 15 days.[/b]

Government spokesman Wichainchot Sukchotrat said Malaysian Minister of Agriculture Mustafa Mohamed met with Thai Prime Minister Samak Sundaravej on Thursday to discuss the deal.

"Malaysia seeks an emergency purchase as a precaution to avert a rice shortage," Wichainchot told reporters. "Thailand will help by sending at least 100,000 tonnes or up to half the requested amount by today."

The rest will be sent within the next three days and Thailand will sell the rice at market price, he said.

Seeking to protect its rice supply, Malaysia has said it is considering blocking the movement of the subsidised commodity across its borders.

Malaysia, which produces 70 percent of its rice needs and imports the rest from Thailand, heavily subsidises more than 20 daily food items, including milk and salt.

World rice prices have soared this year, a trend blamed on higher energy and fertiliser costs, greater global demand, droughts, the loss of rice farmland to biofuel plantations, and price speculation.

The benchmark Thai variety, Pathumthani fragrant rice, was priced this week at $1,053 per tonne for export, up from $512 in January this year, the Thai Rice Exporters Association said in a survey.
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Re: Thailand - General News

Postby winston » Wed May 21, 2008 4:08 pm

Thailand's Export Growth Accelerates on Commodities (Update1)

By Suttinee Yuvejwattana

May 21 (Bloomberg) -- Thailand's export growth accelerated for the first time in three months in April as surging prices of rice, rubber and sugar helped offset cooling demand from the U.S., the country's single largest export destination.

Exports rose 27 percent from a year earlier, Siripol Yodmuangcharoen, the Commerce Ministry's permanent secretary, said in Bangkok today. Growth quickened from 14.4 percent in March. Imports gained 44.4 percent last month from a 32.7 percent rise in March.

``Rising prices of agricultural products, especially rice, helped boost exports,'' said Aksarapak Wongcharoen, an economist at Bangkok-based Tisco Securities Ltd. ``We may see slowing shipments in the second half of the year.''

Record commodity prices are helping drive Thailand's expansion as global economies cool following a credit crunch in the U.S. The Southeast Asian nation's export growth will slow to as little as 13.5 percent this year from 18.1 percent in 2007, the central bank forecasts.

The trade deficit was at the highest in 12 years as record oil prices increased import costs. The shortfall was $1.81 billion in April, compared with a $160 million surplus in March.

``The surging import bill from oil and fuel is the biggest concern,'' Siripol said. ``Oil imports rose in terms of quantity and price.'' Crude oil and fuel purchases from abroad surged 88 percent last month to $3.66 billion, he said.

Rice Prices

Imports were worth $15.6 billion last month, from $14.6 billion a month earlier. Exports, which account for 70 percent of the economy, were valued at $13.8 billion last month, compared with $14.8 billion in March, the ministry said.

The benchmark price for rice exported from Thailand, the world's biggest supplier, more than doubled to $854 a metric ton in April. The price of 100 percent grade B white rice breached $1,000 a ton for the first time last week as importers rushed to secure supplies.

Shipments of rice, rubber and other commodities gained 44 percent to $2.4 billion, while sales of manufactured products such as hard-disk drives and electrical appliances climbed 21 percent to $8.5 billion, Siripol said.

Exports to the U.S., Thailand's largest single market, increased 14 percent in April from a year earlier, compared with the previous month's 2.2 percent gain. Exports to Japan, the No. 2 market, added 29 percent after a 1.5 percent decrease a month earlier. Shipments to European Union rose 16 percent from 8.2 percent in March.

Exports to China, Thailand's third largest single market, added 33 percent from the prior month's 24 percent advance.
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Re: Thailand - Market News & Stocks

Postby winston » Mon May 26, 2008 3:38 pm

From 802 with thanks.

Mobius on Thailand.

===================

Mobius Expects Thai Stocks to Extend Gains on Tax Cuts, Exports

By Anuchit Nguyen
Enlarge Image/Details

May 26 (Bloomberg) -- Thai stocks, Southeast Asia's best performers this year, may extend gains as tax cuts, increased government spending and higher exports boost economic growth, Templeton Asset Management Ltd.'s Mark Mobius said.

``Thai stocks have a good chance to rise further because the new government has policies which are very positive toward businesses,'' Singapore-based Mobius, who oversees about $47 billion of emerging-market equities as executive chairman of Templeton, said in an interview on May 24 in Bangkok.

Thailand's benchmark SET Index has gained 2 percent this year, the best performer among the six Southeast Asian countries with stock markets. Overseas investors bought 14 billion baht ($436 million) more Thai stocks than they sold this month, the first net purchases in three months.

Prime Minister Samak Sundaravej's People Power Party and five coalition allies won 325 of the 480 seats in Thailand's parliamentary election on Dec. 23. Samak wants to boost economic growth to at least 6 percent by spending more on mass transit systems, power plants and other infrastructure projects. The government in April cut taxes for property purchases to boost consumer spending on new houses, cement and steel.

Thailand's economy probably expanded 6 percent in the first quarter from a year earlier, the fastest growth rate in two years, as the nation's first elected government since 2006 increased spending and exports grew, according to the median estimate of 15 economists surveyed by Bloomberg.

Gross domestic product figures are scheduled for release by the National Economic and Social Development Board, the state economic advisory agency, at 9:30 a.m. in Bangkok today.

`Very Vibrant'

``Thailand is a very vibrant exporter of agricultural commodities and manufacturing products,'' Mobius said at a Thai stock market conference in Bangkok on May 24. ``This is another reason why we want to invest in Thailand.''

The government plans to spend 1.84 trillion baht in 2009, a 12 percent increase from the forecast of 1.64 trillion baht expenditure this year, it said on May 20. Thailand's export growth accelerated for the first time in three months in April on surging prices for commodities such as rice and rubber, the commerce ministry said on May 21.

In addition to bank and energy stocks, Templeton prefers consumer-related companies in Thailand as rising personal income increases sales at retailers and distributors, said Mobius. He also likes shipping lines and electronics makers, Mobius said, declining to name any companies.

To contact the reporter on this story: Anuchit Nguyen in Kuala Lumpur [email protected].
Last Updated: May 25, 2008 21:58 EDT
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Re: Thailand

Postby winston » Thu May 29, 2008 11:27 am

From UOB-Kay Hian

Strategy
Short-term views

The SET Index is currently 4% off its peak at about 880. Reasons for the recent sell-off are:

Heightened political risks with anti-government groups protesting against the government’s plan to amend the constitution.

PTT Group’s refineries are asked to reduce refinery margins on diesel by Bt1/litre to help alleviate the rising oil price for the transport and fishery sectors. This move will not only hurt earnings of listed refineries but also viewed as government interference in listed companies which does not bode well with investors.

May’s inflation rate will be announced soon and another spike is expected. Market is talking about headline inflation reaching 9%, from 6.2% in April and 5.3% for Jan-Apr 08.

1Q08 GDP growth for Thailand came in at 6%. However, NESD indicated that GDP growth has peaked in 1Q08 and is expected to decelerate over the coming quarters. FY08 GDP growth is forecast at 4.5-5.5%.

Oil price at above US$130/bbl is bringing back the issue of Thailand’s oil import to GDP as being one of the highest. Hence, higher oil price could change trade surplus and current surplus to deficit.

[b]Outlook In the short term,
the SET Index is likely to decline to 780-800 level. [/b]However, fundamentally, a compromise may emerge which will reduce political pressure. Instead of pushing through the amendment of the constitution, the government plans to seek public referendum whether the constitution should be changed. Taking the matter to the public could reduce the political pressure. In our view, it will not be until September/October when we expect to see a clearer solution.

On the economy, newsflow will remain negative as May economic figures are released. Inflation is expected to spike up further. Domestic consumption could be hurt by rising inflationary pressure. The consumer confidence index turned negative last month. This month’s reading will further reaffirm consumer confidence on the economy and investment.
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Asian Economic Data & Market News

Postby kennynah » Mon Jun 02, 2008 7:03 pm

Thailand Annual Inflation Spikes On Fuel Prices
6/2/2008 6:51 AM ET

(RTTNews) - Annual inflation in Thailand accelerated to 7.6% in May from April's 6.2% on higher fuel prices, government data showed Monday. Economists had expected the rate to increase to 6.5%.

On an annual basis, prices of fuel rose 31.2%followed by 11.8% increase in prices of food and beverages. Non-food and beverages were 5.1% expensive.

Month-on-month, the Consumer Price Index, or CPI, rose 2.1% versus 1.8% in April.


(RTTNews) - According to official data released Friday 30may08), the Japanese unemployment rate grew slightly more than expected to 4% in April, up from the 3.8% rate in March.
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Re: Thailand

Postby LenaHuat » Tue Jun 03, 2008 10:10 am

I would avoid Thailand for a long while. The military is too unpredictable and the political impasse will not come to pass soon. The Monarch is getting on in years and the institution of the monarchy is no longer predictable too.
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Re: Thailand

Postby winston » Fri Jul 25, 2008 7:51 am

Thailand and China offer the most attractive stock selections in Asian markets after prices fell, making them cheap as earnings growth accelerates, Merrill Lynch & Co. told its wealthy clients.

The nations have the lowest valuations among 11 Asian markets, followed by the Philippines, Stephen Corry, investment strategist for Merrill Lynch Global Wealth Management in the Asia Pacific region, said in an interview today. Australia is most expensive.

"Thailand will benefit from rising exports of rice, tuna and other agricultural commodities,"
said Corry.

Thai shares trade at about 9.8 times profit forecast for 2008, and Chinese stocks at about 12.3 times, Corry said. The countries' indexes may have started to rebound after slumping to their lowest in more than a year last week as falling oil prices ease concern inflation may accelerate.
– Bloomberg
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Thailand

Postby ishak » Sun Aug 31, 2008 3:35 am

Pressure grows on Thai prime minister to resign
Associated Press, August 30, 2008

Executive Summary:
Pressure mounted on Thailand's prime minister to resign as anti-government protesters occupied his headquarters for a fifth day Saturday and disrupted rail and air service in some of the country's popular tourist destinations.

The Chart Thai Party, a key member of Samak's six-party ruling coalition, said it was ready to suggest that Samak step down.

The People's Alliance for Democracy, the protest organizer, accuses Samak's government of serving as a proxy for ex-Prime Minister Thaksin Shinawatra, who was deposed in a 2006 bloodless coup and banned from public office until 2012. Anti-government protests started in May but gained momentum Tuesday when protesters occupied the Government House compound. The unrest escalated Friday when protesters clashed with police.

Claiming “police brutality,” alliance members later laid siege to city police headquarters, demanding the surrender of officers they accused of violence.

Pressure mounted on Thailand's prime minister to resign as anti-government protesters occupied his headquarters for a fifth day Saturday and disrupted rail and air service in some of the country's popular tourist destinations.

Prime Minister Samak Sundaravej made an unannounced trip to the southern town of Hua Hin to meet with Thailand's revered King Bhumibol Adulyadej, the Nation newspaper reported. The report, which fed the speculation about Samak's future, could not be immediately confirmed

Bhumibol is a constitutional monarch with no formal political role but has repeatedly brought calm in times of turbulence during his 60 years on the throne.

An uneasy calm returned Saturday – a day after clashes between police and protesters – in respect for a royal ceremony near the protest site to be presided over by Crown Prince Maha Vajiralongkorn.

Most Thais revere the royal family, and offending them by provoking violence would be a political liability.

Thousands of protesters remained camped out at the prime minister's Bangkok office compound, known as Government House, where leaders called for 1 million people to join their ranks to demand an end to Samak's seven-month tenure.

Saying that Western-style democracy has allowed corruption to flourish, the protest group wants a new government with a parliament in which most of the lawmakers are appointed and only 30 percent elected.

“The protest has already developed into a people's revolution,” protest leader Sondhi Limthongkul told The Associated Press. “I do believe that Samak is going to resign.”

Samak has insisted he won't step down but his strength appeared to be fraying amid the growing chaos.

International airports in the southern beach towns of Phuket and Krabi were closed for a second day Saturday as protesters blockaded passengers from entering, authorities said. Hat Yai airport, also in the south, reopened Saturday.

Bangkok's two airports were not effected by the strikes, the airport authority said.

Hundreds of railway workers continued their work stoppage by taking emergency sick leave, forcing the cancellation of more than 70 trains throughout the country, said State Railways of Thailand spokesman Pairat Rojcharoen-ngarm.

The country's influential army commander, Gen. Anupong Paochinda, rejected a request by Samak on Friday to declare a state of emergency, a top army official said on condition of anonymity because he was not authorized to disclose the information. Anupong has vowed that the army will not intervene and has called for resolving the crisis by political means.

The Chart Thai Party, a key member of Samak's six-party ruling coalition, said it was ready to suggest that Samak step down.

“The coalition partners have the impression that the situation is deteriorating and we are thinking of telling the prime minister to decide on the future of the government,” said Somsak Prisana-anantakul, deputy leader of Chart Thai.

The People's Alliance for Democracy, the protest organizer, accuses Samak's government of serving as a proxy for ex-Prime Minister Thaksin Shinawatra, who was deposed in a 2006 bloodless coup and banned from public office until 2012. Thaksin, who fled to self-imposed exile in Britain, faces an array of corruption charges.

Samak led Thaksin's political allies to a December 2007 election victory, and their assumption of power triggered fears that Thaksin would make a political comeback on the strength of his continued popularity with Thailand's rural majority.

Anti-government protests started in May but gained momentum Tuesday when protesters occupied the Government House compound. The unrest escalated Friday when protesters clashed with police.

After police forced their way into the Government House compound to deliver a court eviction order, the alliance fought police in running street battles, charging, punching and hitting officers with sticks. They withdrew to display minor injuries they got when police fought back.

Claiming “police brutality,” alliance members later laid siege to city police headquarters, demanding the surrender of officers they accused of violence. As they pressed against the gates, police fired tear gas to disperse them.

“The situation is out of control,” police spokesman Surapol Tuantong said Friday.

Samak insisted Friday the government would not employ force, but rather “soft and gentle” methods to oust the protesters, indicating he was willing to wait out the protesters, whose numbers go up and down from 2,000 to about 30,000.

He accused the protesters of trying to spark a confrontation with authorities that would lead to violence.

“They want bloodshed in the country. They want the military to come out and do the coup again,” he said.
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Re: Thailand

Postby winston » Sun Aug 31, 2008 9:32 pm

There was an election. Then there was a new government.

Now, if you dont like the new government, you can just overthrow the new government ? This is despite the fact that the new government was democratically elected.

If that is the case, why have an election in the first place ?

Also, I dont quite understand why they are destroying their tourism industry..

And if they dont want foreign tourists in Phuket, Krabi and Hat Yai, just say so. There are many places that a foreign toursit can visit.

Perhaps they were short the markets ? Maybe I should move this post into the Conspiracy thread :P.

Ok, Thailand is off my watchlist for a while, both for investment and holidays ...
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Re: Thailand

Postby ishak » Sun Aug 31, 2008 10:09 pm

Thai protesters break into PM's office
31 Aug 2008, AFP

BANGKOK - About 45 protesters used bolt cutters to break into Prime Minister Samak Sundaravej's abandoned office on Saturday, after five days of occupying the grounds surrounding the building.

One of the activists said that protest leader Chamlong Srimuang had ordered them to force open the doors so that he could use the offices himself.

The so-called People's Alliance for Democracy (PAD) has led thousands of protesters in anti-government rallies since May, but they stepped up their campaign on Tuesday as they marched into the Government House compound and set up camp.

About 15,000 protesters were squatting there at midday on Saturday, one day after the rally erupted into skirmishes with riot police, causing minor injuries and setting nerves on edge.

'Chamlong told us to clean up the mess left by police, so that PAD's five supreme leaders can use the offices inside the building during the rally,' the activist said.

The protests also spread outside Bangkok as activists marched on three key regional airports, including on the resort isle of Phuket.

Phuket's airport remained shut on Saturday, but the southern town of Hat Yai resumed air services in the morning, aviation officials said.
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