Commentary on special events in Thailand and the SET Index.
Key points are: Food prices pushed headline inflation to 2.42% Strengthening Thai Baht caused inflation to rise @ a slower pace In 4M13, headline inflation rate was @ 2.9%YoY The Commerce Ministry’s headline inflation forecast for the year remains @ 2.8% to 3.4% So all in all, inflation not an issue, well done BOT, if […]
Read More →We’ve longed thought aloud that the Thai Baht should eventually return to THB 25/usd over the past few years and we continue to think this going forward. Yes people yell at us, “charlatan! fools! It will never go back!” and we’ve been hearing the same comments since we begun working here in 2004-5 when the […]
Read More →So the essentials of the deal are as follows: CPALL agreed with MAKRO’s major shareholder, SHV Nederland B.V., to acquire its 64.35% (154.4m shares) in Makro @ THB 787/share. Funding is 90% debt financing, 10% internal CF, no equity capital call. Purchase price of MAKRO is @ 42.9x of 2013F (as per analyst’s estimates) Debt […]
Read More →As much as I like to throw mud at the central bank of Thailand. While having a discussion with a friend yesterday regarding investments, he brought up a point stating that the Central Bank of Thailand’s foundation is one of the key reasons that Thailand has done so well and through its inflation-targeting has been able to […]
Read More →Hahaha I remember this one well, one of the first companies we started writing about…movement upon consumer protections here in Thailand are still quite slow, then again anything that has to go through a government body will take time. A group of 639 members of the bankrupt California WOW (CAWOW) health club gathered on Sunday […]
Read More →My drowsy eyes just saw this in the AM, head over to this link to download it BerkshireHathaway
Read More →Wonderful interview with Howard Marks who runs Oaktree Capital stateside, its a great read and the key points I gather from it are: The level of economic activity, anecdotal as you describe, is not an indication of health in the future. It is an indication of health in the present. The question is, what are […]
Read More →For the past few weeks the government has been “pressuring” the BOT to cut rates in the aim of preventing the Thai baht from getting any stronger. We’ve been against this thought as Thailand has so much liquidity flying around as it is and with the Government’s spending coming through next year any further rate […]
Read More →Pranda Jewelry Plc was founded in 1973 as Pranda Design Company Limited and renamed Pranda Jewelry Limited on April 27, 1984. It listed its ordinary shares on the Stock Exchange of Thailand on July 6, 1990 and converted to a Public Company Limited on June 3, 1994. Pranda currently has registered capital of 410 million […]
Read More →Its been on the news quite a bit in the past few weeks that because the Thai Baht has strengthened 2.5% YTD  Overseas investors have bought $1.2 billion more sovereign notes than they sold this month through Feb. 8, Thai Bond Market Association data show. Finance Minister Kittiratt Na-Ranong said on Jan. 31 there’s concern […]
Read More →