Asia Plus Securities PCL or ASPS is positive following the senatorial resolution with respect to the Annual Appropriations Act for the year 2568 B.E. (2025), prepping for capital injection into the Thai economy from which 14 stocks would benefit.
ASPS specified in their yesterday analysis in the event of the Senate passing a 174 to 3 resolution for Agenda 3, approving the annual appropriations bill for the fiscal year 2025.
The current government holds a surplus capital from FY24, together with a new capital approved for FY25 in pursuit of accelerating Thai GDP growth during Q4/24-25, while public sectors focus on government spending and household consumption to stimulate the Thai economy.
Whereby, the digital wallet project became a major talking point as the Deputy-Minister of Finance said the project would be discussed in the Cabinet meeting on September 17, 2024, looking forward to distributing the first THB 10,000 Baht to a group of vulnerable individuals by the end of this month, amounting to 14.5 million persons without limitations on the store/product (by means of budgetary surpluses carried over from FY24.)
The other 30 million individuals will receive their shares on 2 separate occasions: firstly, THB 5,000 in cash in the event of the digital system failing to deploy (within 2024) and the remaining THB 5,000 in the form of digital currency (within 2025) – whether the promise is fulfilled and performed accordingly or whether there be any changes in the criteria is yet to be seen.
Stocks expected to make the most of the above include those in agricultural-food, retailer, hire-purchase and beverage groups e.g., Charoen Pokphand Foods (SET: CPF), Thai Union Group (SET: TU), CP All (SET: CPALL), Central Retail Corporation (SET: CRC) , Berli Jucker (SET: BJC), Home Product Center (SET: HMPRO), Com 7 (SET: COM7), Muangthai Capital (SET: MTC), Srisawad Corporation (SET: SAWAD), Ngern Tid Lor (SET: TIDLOR), Bangkok Commercial Asset Management (SET: BAM), Osotspa (SET: OSP), Carabao Group (SET: CBG) and Ichitan Group (SET: ICHI).
