A $45 Billion Manager Says Thai Stocks Face Hurdles Over Worst Virus Outbreak
Bloomberg 1 hr ago
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Thai equities face new hurdles as the country’s worst Covid-19 outbreak will further squeeze corporate earnings and delay an economic recovery, according to Thailand’s second-biggest private money manager.
Investor optimism over prospects for a return of foreign tourists has been eroding amid a new wave of the virus that took hold this month, said Vasin Vanichvoranun, executive chairman at Kasikorn Asset Management Co., which manages about $45 billion. The firm’s current forecast for the benchmark SET Index to reach 1,650 points this year may be out of reach if Thailand can’t contain the spread, he said.
Singapore SWF is a Cornerstone Investor in Thailand’s PTT Oil and Retail
Posted on 01/14/2021
PTT Public Company Limited or simply PTT (Thai: ปตท.) is a Thai state-owned SET-listed oil and gas company. Formerly known as the Petroleum Authority of Thailand, it owns extensive submarine gas pipelines in the Gulf of Thailand, a network of LPG terminals throughout the kingdom, and it is involved in electricity generation, petrochemical products, oil and gas exploration and production, and gasoline retailing businesses. PTT price its initial public offering (IPO) of shares in retail unit PTT Oil and Retail (PTTOR) to raise up to US$ 1.8 billion. PTT will hold 75% to 77.5% of shares after the IPO.