• 
• 

Published on February 6, 2008

However, he was optimistic this year's earnings of listed firms would jump 20 per cent, driven mainly by the banking sector, which no longer needs to set aside reserve provisions.

His estimates are slightly higher than the Merrill Lynch forecast and Securities Analysts Association consensus of 18.9 per cent.

Vichate said that last year's estimates were based on figures obtained in the first nine months.

In those first three quarters, 465 listed companies, including property funds and non-compliance companies, had a cumulative net profit of Bt319.01 billion, down 15 per cent year on year. Of the total, 366 companies were profitable, while the rest recorded losses.

Vichate expects some banks this year to enjoy high growth of 50-60 per cent.

"Thai corporations this year will be better able to tolerate oil prices, baht appreciation and domestic interest-rate fluctuations than last year," he said.

Competition among banks to raise deposits in preparation for new-loan extensions indicates that prospects for the internal economy will be quite bright, he said.

As of the end of last year, there were 137,073 accounts invested in long-term equity funds (LTFs). Of those, 62,805, or 45.82 per cent, were new accounts.

He said about 40,000 of the new accounts were opened last December.

At the moment, there are 53 LTFs with a combined net asset value of Bt48.41 billion.

Meanwhile, Kengkla Ruckphaopunt, senior vice president of the SET's Capital Market Opportunity Centre, said the SET had targeted raising the number of stock investors this year by 100,000. Of those, 25,000 should be direct investors, while the rest should invest through mutual funds. The target is achievable, because of a significant increase in the number of investors who trade via LTFs, he said.

Siriporn Chanjindamanee

The Nation