Pattaya Daily News

19 September 2008 :: 11:09:58 am 42374

Foreign Fund Managers Still Confident of Economic Fundamentals

BANGKOK, Sept 19 - Foreign fund managers are still confident of Thailand‘s economic fundamentals and satisfied with the performance results of listed companies in the stock market, according to a top securities executive.
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Ariya Bunyarak, president of CLSA Securities (Thailand) Co, said he had talked with foreign fund managers participating in the Thailand Focus forum during September 17-19 and found they remained upbeat about the country’s strong economic fundamentals.

He said investors in the Stock Exchange of Thailand (SET) were not in a panic about the financial crisis in the United States.

In addition, the operating results of listed firms in the Thai stock market continue to grow. Accordingly, Mr. Ariya believed foreign funds would invest in the Thai bourse when the US financial chaos eases.

“Four weeks ago, all countries were frightened of rising inflation and the interest hike. Now, investors are not scared about inflation, but worried about the revenue of listed firms.

“However, the latest operating results of the firms (show that they) continue growing. So, it is a boon for business and the Thai stock market,” he said.

“We believe that local consumption will improve now that the interest rate is unlikely to edge up because inflation rate declines,” he said.

SET president Pattareeya Benjapolchai said the fundamentals of the Thai stock market are strong with the revenue of listed companies still growing satisfactorily.

She said a close watch should be kept for possible impacts of the US financial crisis on Thai institutions.

Still, should the crisis ease, the current political turmoil be addressed, and the new government go ahead with the planned mega-projects, she believed that investor confidence would be restored and the economy would continue to expand. (TNA)

Reporter : PDN staff   Photo : Internet   Category : Thailand News

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