Krungsri Asset Management has launched a new stock market fund called the KFTSTAR-D based on its positive outlook on the Thai Stock Market. The fund has been set up in the wake of increased foreign investment in the Kingdom as the local economy enjoys robust growth.
Miss Siriporn Sinacharoen, Managing Director of Krungsri Asset Management Co., Ltd. was quoted as saying, “Investment money from foreign investors has begun to return to the Thai stock market. Net foreign investment in 2016 remained positive through early January 2017. This year, in the TIP Market (consisting of Thailand, Indonesia, and the Philippines), the price-earnings (PE) ratio of 15.3 of the Thai stock market was the lowest, while those of its Indonesian and Philippine counterparts were 16.4 and 17.3, respectively. It is expected that the dividend rate offered by the Thai stock market will be the highest in the TIP Market. Net profits of Thai listed companies have a tendency to enjoy growth, which keeps the Thai stock market attractive. Moreover, the Thai economy’s direction and economic stimulation plans allow the Thai stock market to experience growth and create healthy long-term returns.”
The KFTSTAR-D fund is different to other funds, which often single out high growth stocks, small cap or large cap stocks. The new fund blends the best stocks in each category. The stocks selected are considered the stars of their respective sectors. The bank believes that accordingly, the fund will outperform the overall stock market.
Emirates to offer Premium Lounge access to economy class passengers coming from Thailand.
Emirates airline is to offer complimentary premium lounge access in Dubai to economy class passengers flying out of Thailand, and who have an onward connection. Usage is for up to four hours, which will cover most of the connection times of Emirates’ flights. Outbound flights EK 377 or EK 351 are earmarked for the offer.
Emirates has seven flights every day from Bangkok’s Suvarnabhumi airport to Dubai, one of which uses the Boeing 777 and the other six using the Airbus A380
NEC to build a new Thai plant.
Japanese Electronics giant NEC is to build a new factory in Thailand. The plant that will be located in Pathum Thani will be built to consolidate activities from two nearby factories. The group aims to double sales of its telephone exchange equipment offerings and automotive electronics products by 2020 to 12.4 billion baht.
With the automotive sector in focus the company expects to see steady growth as cars have more and more electronic devices fitted in them. The new factory will be 24,000 square meters is expected to cost several billion Yen. It is expected to be completed before June and to be operational by November.
The plans for the two nearby factories are for one to be changed to an office space and for the other to be closed down. The new facilities, in total, will be 40% larger once all of the moves have been completed.