The facts:

• Applications were valued @ THB 234 bn down 10% YoY w/ project numbers of 291 down 48% YoY
• Led by auto’s, petrochem and power plants
• Foreign projects rose YoY 28%
• Main investors were Japan, US, China and S. Korea

So what?

• Growth in the SME area is suffering, that goes without saying, but the larger sectors are doing fine.
• Industrial Estate sales for the big players should still be ok but nothing fantastic until the BOI reconvenes
• So can you imagine the flood of land sales (hello AMATA, HEMRAJ and maybe TICON, WHA) that will occur once the BOI approves things again?

Despite the prolonged political stalemate, applications for Board of Investment privileges during the first quarter came in at Bt234 billion, led by automotive and auto components, petrochemicals and power-generation plants.

Source: The Nation