Market Update 13/01
Zero buyers, look at the beautiful red of practically every sector ex telcos and tech.
Aeon’s numbers scared me (again):
“AEONTS reported 3Q24 (end of Nov 24) at Bt788.57m, +11.7% yoy, beats Bt687m consensus, thanks to Bt94m gain on disposal of AEON Microfinance (Myanmar) in Nov 2024, operation wise PPOP came in at Bt2.6b, -4.9% yoy, -12.6% qoq, loan port -4.4% yoy & -1.8% qoq, NPLs -0.3% qoq to Bt5.3b but NPL ratio increased due to loan contraction.”
Jesus if even AEONTS continues to suffer out there, what can be said about the rest of the country….
Vayupak’s support is gone, best of luck out there.


peter satrapa-binder
Yes, thailand’s economy is not in the best shape currently. international incoming tourism is still ok but i am not sure whether there will be much room for it to grow further, exports have recently peaked up a little bit but there will be much uncertainty for example regarding trump/trade wars upcoming and europe sagging, domestic consumption may remain flat for some time to come.
thailand’s problem vs. other players in the region (e.g. singapore, vietnam) is and has ever been that there never had been any thorough planning and implementation of well thought-out measures (i.e. education planning, creating a sytable and good environment for investors and companies, etc.) to improve the economy long-term by the various governments here but mostly only some half-hearted handouts with short-lived and smaller than believed economic benefits.
Pon
Thailand’s main strength had been in its private sector to somehow do well despite the constant changes at the top.
The biggest issue for the manufacturing SMEs has been China Inc.
For most of the private sector the issue I’ve noticed that is that the increase in supply of (insert product/services name xyz) has outpaced demand (which is mainly tourism today)
I don’t know what the average thai SME can do today other than bribe their way into a government concession contract.