1) Thai stock market overview
Thailand’s SET Index closed at 1,684.86 points, increased 3.13 points or 0.19% with a trading value of 59 billion baht. The analyst stated that the Thai stock market moved in a sideways-up trend after pricing in most of the positive sentiment in the market. Meanwhile, investors were waiting for 4Q22 earnings results, especially the banking sector that will announce their earnings this week. The analyst expected movement in SET Index tomorrow to be similar to today’s.
2) China’s new home prices in December continue to fall, dampened by lower demand
According to Reuters calculations based on the data released by the National Bureau of Statistics (NBS) on Monday, prices in December last year dropped 0.2% on a monthly basis, marking its fifth straight month of decline. From the same period of last year, prices in December 2022 dropped 1.5%.
Meanwhile, prices in Beijing and Shanghai rose from the earlier month, while Shenzhen and Guangzhou saw a decline in price at a slower pace.
3) ThaiBev says no material impact after fire incident at Yangon’s facility
According to ThaiBev, the fire occurred at GRG’s production facility in Yangon, Myanmar in the afternoon on January 13 and it was successfully put out in the early hours of January 14.
The company made an official announcement on January 15, stating further that the fire occurred in the raw material storage area and was confined to such a section of the facility. GRG’s management team is already taking immediate steps to procure replacements of the relevant raw materials in preparation to resume its blending and bottling operations in Yangon within February 2023. The operations in the Mandalay facility remain unaffected. GRG does not anticipate any shortage of finished products in the Myanmar market, as GRG and its distributors hold sufficient inventory.
ThaiBev said that the cause of the fire is under investigation and assessment; so far it is believed to be an accident. GRG has insurance coverages for the fire incident including property and inventory damages and business interruption.
The company noted that this incident is not expected to have any material impact on ThaiBev, the earnings per share and net tangible assets of the company for this financial year.
