Thai financials have been smacked even though they aren’t linked to what’s going in Europe and the US, though when people ask me what I think is the weakest bank, I point to SCB, they have the largest exposure to hotels and mortgages of all the banks on their books, and their customers can’t pay it back…but hey with the BOT and a certain shareholder behind them they’ll be fine…the fact that BBL and KTB have outperformed SCB says it all…

Election news is going to pick up strongly over the next 2 months, and here’s my thought – if PT can’t win and form the government with a strong majority – Thailand is going to become just like Malaysia – crony capitalism left right and center, government debt/gdp increasing, a rubbish currency and whilst it’ll still be fine to live and holiday in, the future on the ground will be rubbish.

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