Nov 27, 2014

China > India > Thailand > Ph > SG > ...



"Big-time investors picked Singapore stocks over Hong Kong in November

Hong Kong is the least loved market this month.

Foreign international investors preferred Singapore over Hong Kong in the third quarter, as foreign mutual funds again warmed up to Asian equities after two consecutive months of sell-offs.

According to HSBC, Hong Kong is the least loved market in Asia by foreign international investors in November. China regained the top position as the most loved market, pushing India down to second position in the region.

Singapore came in fifth, right behind Thailand and the Philippines. Indonesia clinched the sixth spot, followed by Taiwan, Korea, and Malaysia.

“Meanwhile, global funds turned slightly cautious on Asian equities as they cut their exposure in most Asian markets. However, they continued to like Thailand and China, and further added to their overweight exposure. Global funds cut their exposure in Korea and pushed it down to join the Philippines and India at neutral levels. They remained underweight other Asian markets,” noted HSBC. " source: SBR

Nov 24, 2014

Egat: more coal-fired power plants needed

''The Electricity Generating Authority of Thailand (Egat) has confirmed Thailand will have to build more coal-fired power plants to meet its energy needs since future supplies of natural gas are uncertain and renewable energy is expensive.

Renewable energy such as hydroelectric power plants and solar cells were remarked to have unstable production capacities, are not commercially viable on an industrial scale and involve high investment costs.

At present, 68% of  Thailand's electricity is produced from nat gas, 9% from coal, the rest from fossil fuels and renewable energy. Thailand's energy consumption grows at 3% p. a. and is estimated to reach 70685 MW in 2030. The plan is to reduce natgas consumption while increasing renewables by 2030.

Read the original article at the Bangkok Post ''

It is funny how Egat takes the press on a tour to a lignite-fired power plant in Berlin to sell them on ''great advances in emission-control technology'', Merkel is on the other hand setting in motions in place to scale down the share of coal in Germany's energy mix.

This is a pretty backward move if all the talk about renewable energy ends in a new lean towards more coal. Perhaps Mr. T should be allowed to return and be given a cushy position in Agriculture, where all he has to do is to get farmers to just churn out ricehulls for biomass, ha!

Besides coal though, solar players have been on a great run so far, and foreign interest has been steadily growing (and buying in).

With all that said, this is another ''oh well, this is Thailand'' moment, and I would favor Egat to decide the future trend here over any other.

Now, time to get some exposure.

Nov 3, 2014

Bangkok Airways bucking the Thai IPO trend

"Warren Buffet said a decade ago he’s sworn off putting money in airline stocks since his $358 million “mistake” in US Airways Group Inc. Investors in Asian carriers would do well to heed his advice. 
Six of the 10 initial public offerings by airlines in Asia during the past five years are trading below their sale prices, according to data compiled by Bloomberg. The 10 airlines have fallen an average 12 percent from their offer levels, as the region’s publicly traded carriers racked up a combined $1.8 billion in losses last year. 
Asia's airlines have failed to capitalize on a surge in passenger numbers as the start of a dozen new carriers in the past decade has pushed the industry toward overcapacity and made it unprofitable. Bangkok Airways Co., which raised $494 million last month in Asia’s latest airline IPO, fell today on its first day of trading in Thailand’s capital." (Source: Bloomberg)
Thats right, Bangkok Airways is down as at today's lunch break (BA:TB 23.70 -5.20%) while almost all the previous IPOs this year had been such magnificent crackers, doubling tripling quadrupling and even more. 
I have not looked through the numbers but there is always the right price even for an Asian airline stock, and that is definitely not found near the IPO.