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SET-LISTED FIRMS REPORT 9-MONTH PROFIT JUMP

Companies listed on the Stock Exchange of Thailand report combined net profit of Bt681.389 billion in the first nine months, up by 34.94 per cent year on year, but revenue down by 4.41 per cent to Bt7.36 trillion, said Santi Kiranand, senior executive vice president and head of the SET’s Issuer Marketing Division.
In the third quarter, 527 of the total 565 listed companies reported a combined net of Bt208.99 billion, up by 251.68 per cent over the same period last year, mainly from low production costs from the decline in oil prices.
Santi said the energy, utilities and petrochemical industries reported declining revenue.

MONEY EXPO CHIANG MAI SEES RECORD

A record Bt8.85 billion in housing loans were transacted at “Money Expo Chiang Mai”, according to Money & Banking magazine, organiser of the expo.
The expo held from Friday to Sunday with the theme of “Digital Life, Digital Money” saw transactions worth Bt13.6 billion from 24,000 applications. More than 70,000 people visited the expo to shop for investment products.
Pakanee Viriyarungsarit, vice president of Money Expo, said housing loans topped the transactions at Bt8.85 billion thanks to special campaigns including zero interest rates and fixed rates for one to two years. Moreover, a quick approval process at the expo was key to the overwhelming number of loan applications.
SME loan applications ranked second, with total value of more than Bt2.3 billion, she said. Campaigns offering 12-year repayment terms and lending caps of Bt20 million were highlights that encouraged small and medium-sized enterprises in Chiang Mai to apply for loans. 
Of the investment products, the expo found that short-term insurance programmes were in high demand.

THAIBEV REVENUE UP ON CHANGE TO ITS FISCAL YEAR

Thai Beverage posted declines in both full-year earnings and revenue following a change in the fiscal year starting date, which resulted in a shorter period under review.
For its first fiscal year - from Jan 1 to Sept 30 - net profit came in at Bt18.9 billion (S$757 million), down 29 per cent from Bt26.5 billion in the 12 months to Dec 31 last year.
Turnover fell by 19 per cent to Bt139.2 billion, the firm reported last Friday. .
However, when compared with the corresponding period last year, ThaiBev said revenue was up by 14.8 per cent from the Bt121.2 billion garnered from January to September last year.
The increase in turnover was mainly due to higher sales in its spirits, beer, non-alcoholic beverages and food business.
Revenue in the spirits division rose 0.1 per cent to Bt76.6 billion, while turnover for the beer segment surged 62.3 per cent to Bt44.4 billion.
"The success of new Chang beer as well as continuous and effective marketing efforts resulted in a 54.5 per cent increase in beer sales volume," ThaiBev said in the stock exchange filing. It added that a decrease in raw material costs helped boost earnings of its beer business by 280 per cent to Bt2.8 billion when compared with the corresponding nine months last year. – The Straits Times 
 

Published : November 21, 2016

By : THE NATION