PTTEP wins two honors at Money & Banking Awards 2025
Organized by Money & Banking Magazine, the Best Public Company of the Year 2025 awards were determined through a fundamental analysis of business information from companies listed on the SET. The evaluation was based on four key factors: size of the firm, profitability, return on investment, and investment liquidity.
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Bangkok Post
8 hours ago
- Bangkok Post
Baht falls from highest since 2022 on conflict with Cambodia
Thailand's baht fell after touching the highest in more than three years on the escalating conflict with its neighbor Cambodia. The local currency fell 0.3% to 32.29 per US dollar on Thursday after touching 32.11 earlier, the strongest since February 2022. The Stock Exchange of Thailand (SET) index slid about 1%. The baht had surged more than 6% this year on growing optimism over trade negotiations, the return of foreign stock inflows and near-record high gold prices. Thai fighter jets hit two Cambodian army posts near their disputed border on Thursday, as troops clashed in multiple locations in an escalation of tensions between the two nations. 'The escalating border conflict is giving investors a reason to book some gains after the Thai baht has appreciated,' said Lloyd Chan, currency strategist at MUFG Bank. The conflict could put a pause in baht's rally this year. Sentiment was boosted earlier after Finance Minister Pichai Chunhavajira said on Tuesday the nation is close to an agreement with the US to lower a threatened 36% tariff on its goods ahead of the Aug 1 deadline and expects a rate closer in line with regional neighbours. The baht's gain is putting pressure on authorities to curb its strength to protect the nation's economic drivers of tourism and exports. 'Bank of Thailand will continue to watch for any excessive volatility,' said Christopher Wong, senior foreign-exchange strategist at Oversea-Chinese Banking Corporation in Singapore. A break of the resistance level at 32 to 32.1 baht per dollar may add more tailwind to the currency, he said. Thailand's foreign-exchange reserves climbed to a record $263 billion earlier in July, partly as officials stepped up their intervention to slow the baht's appreciation. Easing tensions between two of Thailand's largest trade partners — the United States and China — are also soothing investor worries. Global funds have poured a net $345 million into Thai equities in July, on track for the first monthly inflow in 10 months. On Wednesday alone, global funds poured in $139 million into stocks, the largest single-day inflow in 10 months. The baht is also underpinned by near-record high gold prices, given the country's status as a major trading hub for the precious metal in Asia.
Bangkok Post
a day ago
- Bangkok Post
SET approves THAI's return to trading from Aug 4
The Stock Exchange of Thailand (SET) has approved the reinstatement of Thai Airways International Plc (THAI) on the main trading board from Aug 4, following a long debt restructuring process. THAI was flagged for potential delisting after its 2020 financial statements showed negative shareholders' equity. Since then, the national carrier has completed a bankruptcy court-approved debt restructuring process to rectify its financial position and meet all criteria required to resume trading. As part of the reinstatement process, the airline has submitted a formal request to the SET for the removal of the delisting alert and to resume trading. It has agreed to comply with the Silent Period regulation, which restricts strategic shareholders from selling 55% of paid-up capital for a period of one year. The SET has consequently removed the 'SP' (suspension) and 'NC' (non-compliance) signs on THAI securities and will allow trading to resume under the Services Industry Group, Transportation and Logistics Sector, starting on Aug 4. Investors and shareholders were advised to review THAI's latest disclosure and financial summary via the SET information system. On the first day of trading, THAI shares will not be subject to the usual ceiling and floor price limits, dynamic price bands or auto-pause mechanisms. These measures will be reintroduced on the following trading day, once the shares are actively traded. In addition, THAI shares will be included in the SET Index calculation starting the next business day after trading resumes.
Bangkok Post
2 days ago
- Bangkok Post
Bank profits up 3.97% in H1
Thailand's banking industry reported a modest increase in net profit for the first half of 2025, weighed down by a decline in net interest margin, lower interest rates, and sluggish loan growth. According to financial statements submitted to the Stock Exchange of Thailand (SET), 11 SET-listed banks and their subsidiaries posted a combined net profit of 134.5 billion baht for the first half of 2025, marking a year-on-year increase of 3.97%. Among the six domestic systemically important banks (D-SIBs), only SCB X -- the holding company of Siam Commercial Bank (SCB) -- and Bangkok Bank (BBL) recorded net profit growth. SCB X reported the highest net profit growth in the sector, rising 18.7% year-on-year to 25.2 billion baht. BBL followed with a net profit of 24.4 billion baht, up 9.5%. The remaining four D-SIBs -- Krungthai Bank (KTB), Kasikornbank (KBank), Krungsri (Bank of Ayudhya), and TMBThanachart Bank (ttb) -- posted either flat or declining net profits. KBank reported the highest net profit among all banks at 26.2 billion baht, but this figure represented a 0.98% decline from the same period last year. The marginal increase in the sector's overall net profit was primarily driven by non-interest income and effective cost control measures. However, the overall industry saw a decline in net interest income (NII), reflecting the downward trend in interest rates and weak loan demand in line with Thailand's economic conditions. The six D-SIBs reported a combined NII of 327 billion baht for the first half of 2025, down 6.57% year-on-year. As of June 2025, the banks reported total outstanding loans of 13.2 trillion baht, a 0.97% decrease from the end of 2024. Five of the six D-SIBs recorded loan contractions. Only BBL, Thailand's largest lender by total assets, reported marginal loan growth of 0.73%. Kanjana Chockpisansin, head of banking and financial sector research at K-Research, noted that the banking industry is expected to continue facing challenges in the second half of the year due to both domestic and external pressures. Ongoing global uncertainties, particularly stemming from the impact of US tariffs on Thai exports, are expected to weigh on Thailand's economic growth and loan expansion in the second half of the year. Additionally, the declining interest rate environment is likely to continue pressuring the sector's NII. K-Research projects that total loan growth for the banking sector will contract by 0.6% in 2025, in line with a weakening economic outlook in the second half of the year. The centre forecasts Thai GDP growth of just 1.4% for this year. Arthid Nanthawithaya, chief executive of SCB X, said in the financial statement to the SET that despite persistent macroeconomic uncertainties and the prolonged household debt issue, SCB X remains committed to supporting all borrowers through various ongoing assistance measures, including its "You Fight, We Help" debt relief programme.
