Medical devices constitute a thriving industry in Thailand, with the country acclaimed as a major health care hub in Asia. The Thai medical devices market in 2010 is valued at US$795 million. Thailand Business News

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Medical devices industry Overview in Thailand

The output of other sectors was also affected during the recent crisis, although less markedly because they had been growing slower than the sectors linked to external demand.
However, the upside is limited due to political and regulatory uncertainty, including from possible political violence and the Map Ta Phut court case. The government investment plan is proceeding at a slow pace, but public investment should contribute to growth.

In Vietnam, households use to held their savings in cash or real estate. With the opening of the stock market, you have seen a tremendous shift of funds into the capital market.
But for the smaller companies, you see much greater volatility in returns,’’ he said, adding that smaller firms on the SET with market cap below $200 million offer 40% to 60% lower long-term TSRs compared with their larger brethren.

The strength and resilience of Thailand’s economy continues to be reflected in the data, beginning with its 12% growth in gross domestic product during the first quarter of 2010. That was the best rate of growth in about 15 years, nearly three times better than Q1 2009, and about double the preceding quarter. It is estimated that GDP growth for the first half of 2010 will be approximately 10%. Thailand Business News

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Thailand’s First half 2010 GDP Growth reaches 10%

Domestic demand has also shown signs of life, but the severe weather, the withdrawal of consumption-based fiscal stimulus and political uncertainty should be a drag on growth. With a large fraction of the population still occupied in agriculture or working in rural areas, agriculture is a critical variable for the performance of household consumption.
All in all, a more favorable external environment should help boost real GDP growth to 6.2 percent in 2010. After this year, slower growth in developed countries, emerging capacity constraints as capacity idled during the crisis is quickly put to use, and the weight of the ongoing political turmoil on new investment, should likely keep growth below Thailand’s historical average of 5.1 percent. On the whole, Thailand’s fiscal and financial picture remains solid

In any case, Thailand’s strong rally in 2009 should still be considered in context.
So small free floats and poor disclosure tend to create a vicious cycle,’’ Mr Wood said.

The law was introduced in 2007 under the post-coup government of General Surayudh Chulanont. In that context it was immediately assailed as a political weapon by critics who claimed that the legislation was passed to stifle online discussions and criticism of the coup that ousted former Prime Minister Thaksin Shinawatra, as well as to head off debates about the roles and influence of the military and the monarchy in the Kingdom’s realities. Thailand Business News

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Thailand’s Computer Crime Act still a major threat to free expression

Real GDP fell 6.3 percent between the third quarter of 2008 and the first quarter of 2009, as global demand slumped, before rebounding 6.9 percent through the end of 2009. The rebound was due to a recovery in global demand, an end to inventory liquidation and a pickup in private consumption as confidence returned.
Policies that could contribute to reducing Thailand’s dependence on foreign demand include a phased liberalization of the services sector, boosting transport infrastructure, a reform of educational curricula and improved access and quality of higher education to boost skills of the labor force, better integration of universities, firms and government, and improved social safety nets

Total shareholder returns (TSR) for 2009 are calculated by assuming that investors reinvest all cash received over the course of the year to determine a total return from one’s investment. The 2009 analysis covers 505 companies from the Stock Exchange of Thailand and the Market for Alternative Investment and is based on share valuations as of Dec 31 and dividend payments made over the 2009 calendar year.
But for the smaller companies, you see much greater volatility in returns,’’ he said, adding that smaller firms on the SET with market cap below $200 million offer 40% to 60% lower long-term TSRs compared with their larger brethren.

According to the Real Estate Information Research and Valuation Centre, unsold homes and new housing completions as of mid-year totalled about 98,748 unit Thailand Business News

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Big supply of unsold units to hit condo market in Bangkok

On the demand side, the importance of external demand can be fully appreciated by recognizing that the bulk of inventories in Thailand are primarily inputs and finished goods for the export-oriented manufacturing. In the fourth quarter of 2009, for example, net exports and the change in inventories contributed 44 percent of the quarterly growth.
All in all, a more favorable external environment should help boost real GDP growth to 6.2 percent in 2010. After this year, slower growth in developed countries, emerging capacity constraints as capacity idled during the crisis is quickly put to use, and the weight of the ongoing political turmoil on new investment, should likely keep growth below Thailand’s historical average of 5.1 percent. On the whole, Thailand’s fiscal and financial picture remains solid

The relative strength and power of sovereign wealth funds is massively increasing, and the money has to go somewhere.
In part, this may reflect the greater volatility in earnings in smaller companies.

Foreign banks operating in Thailand reiterated their readiness to increase lending in an effort to help maintain the country’s economic growth momentum.Thai banks provide a wide range of services throughout the country. Most foreign banks are represented, however, at this stage they offer limited services to the individual consume Thailand Business News

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Growth momentum encourages Foreign banks operating in Thailand

Sectors linked to external demand (namely, manufacturing, hotels and transport) have been the main contributors to growth since the 1997-98 Asian financial crisis, and have also determined the dynamics of the economy in 2008-09. These sectors have accounted for almost all of the annual changes in real GDP.
All in all, a more favorable external environment should help boost real GDP growth to 6.2 percent in 2010. After this year, slower growth in developed countries, emerging capacity constraints as capacity idled during the crisis is quickly put to use, and the weight of the ongoing political turmoil on new investment, should likely keep growth below Thailand’s historical average of 5.1 percent. On the whole, Thailand’s fiscal and financial picture remains solid

Alexander Wood, a founding partner of AWR Lloyd, believes the global crisis has acted as a catalyst for a fundamental, structural change in the global capital markets. The real new players in the markets are the sovereign wealth funds.
But another factor is likely the presence of larger, institutional investors in large-cap stocks who are more concerned about long-term performance than short-term market movements.

Attempts to bring 3G services to Thailand have been held up for nearly five years because of frequent changes in government and also because of questions about the NTC’s legal authority to award licences. Thailand Business News

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Thailand’s 3G auction confirmed for September

Thailand’s open and tightly integrated into global trade economy experienced a V-shape contraction and recovery from late 2008 through late 2009
The continuation of certain government policies, especially the pension to the elderly and free education should also support higher consumption levels for the poor. The longer-term goal of reducing reliance on external demand will take time, especially given political uncertainties that hinder the government’s ability to implement not only its investment program but also needed structural reforms.

Yet a glance through the 2009 Post/ AWR Lloyd-PYI Shareholder Scorecard shows that some sectors clearly benefited more than others. Home and office products led all sectors with a 267% gain in 2009, followed by agribusiness at 238% and property development at 132%.
So small free floats and poor disclosure tend to create a vicious cycle,’’ Mr Wood said.

Thailand’s capital of Bangkok is under threat of inundation — being underwater — within a century, and researchers warn that current flood prevention measures in the city are not ready to prevent such a happening. Thailand Business News

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Thailand’s capital is under threat of being underwater within a century

Domestic demand has also shown signs of life, but the severe weather, the withdrawal of consumption-based fiscal stimulus and political uncertainty should be a drag on growth. With a large fraction of the population still occupied in agriculture or working in rural areas, agriculture is a critical variable for the performance of household consumption.
The continuation of certain government policies, especially the pension to the elderly and free education should also support higher consumption levels for the poor. The longer-term goal of reducing reliance on external demand will take time, especially given political uncertainties that hinder the government’s ability to implement not only its investment program but also needed structural reforms.

Alexander Wood, a founding partner of AWR Lloyd, believes the global crisis has acted as a catalyst for a fundamental, structural change in the global capital markets. The real new players in the markets are the sovereign wealth funds.
Many Thai companies don’t even really need to be in the market, with only a limited need to raise capital.

GM plans to extend its production of midsize pickups Chevrolet Colorado and compact cars Chevrolet Aveo in Rayong province with at least 80,000 units this year from 39,800 units produced last year.GM has just got an approval for a loan of 1.35 trillion THB from Tisco and Thai Commercial banks for the credit term of seven years. Thailand Business News

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General Motors to set new up pickup production unit in Thailand

Real GDP fell 6.3 percent between the third quarter of 2008 and the first quarter of 2009, as global demand slumped, before rebounding 6.9 percent through the end of 2009. The rebound was due to a recovery in global demand, an end to inventory liquidation and a pickup in private consumption as confidence returned.
Policies that could contribute to reducing Thailand’s dependence on foreign demand include a phased liberalization of the services sector, boosting transport infrastructure, a reform of educational curricula and improved access and quality of higher education to boost skills of the labor force, better integration of universities, firms and government, and improved social safety nets

‘‘In part, the gains in the market are a function of wealth creation. Asian and Middle Eastern household wealth is growing faster than in the United States and Europe,’’. The broadening and deepening of the Asian capital markets has helped draw savings away from traditional asset classes such as bank deposits and mutual funds to equities.
The result is that analysts have little incentive to track a stock, further lowering its visibility.