Prayut says SET rising because of junta’s economic management

By The Nation

 

File photo: Prime MInister Gen Prayut Chan-o-cha

 

PRIME MINISTER General Prayut Chan-o-cha does not want people to think that last week’s announcement of an election timetable is behind the recent rise in the Thai stock market, government spokesperson Lt-General Sansern Kaewkamnerd said yesterday.

 

The bump in the Thai bourse was also a vote of confidence by investors in the military government’s management of the economy, he said.

 

The SET is among the top-10-performing global bourses, said Sansern. 

 

The index on Tuesday broke 1,700, the highest in 23 years after Prayut announced that an election would be held in November next year.

He was apparently confirming for Thai citizens what he had already promised US President Donald Trump during their White House meeting earlier this month.

 

Prayut’s announcement created confusion because Deputy Prime Minister Prawit Wongsuwan had earlier denied the election timetable.

 

“Prime Minister General Prayut did not want people to believe that the announcement of the election timetable was the only thing pushing the index up,” said Sansern.

 

 Quoting Prayut, he said the market had also risen “because investors have confidence in the government’s management of the country that has restored peace and initiated a series of reforms that would underpin the country fundamentals in the long run”. 

 

The PM was also please that the Stock Exchange of Thailand had advanced into the top 10 bourses as rated by Corporate Knights magazine in a report titled, “Measuring sustainability disclosure: Ranking the world’s stock exchanges 2017”. The evaluation was sponsored by Aviva plc, a British insurance multinational.

 

The Thai bourse jumped from 40th place in 2013 to 10th place in this year’s rankings, as announced on September 27. 

 

SET reported to Prayut that it has pressured listing companies to disclose information and to be accountable to the public, said Sansern.

 

They are also encouraged to practise international standards for employee turnover, energy and water conservation, waste management, addressing |climate change and workplace |injuries. 

 

Prayut also wants to the general public to view the stock market as not being only for rich investors, but also as a place for savings and investment for the wider general public, said Sansern. 

 

Source: http://www.nationmultimedia.com/detail/politics/30329292

 

 

-- © Copyright The Nation 2017-10-15

7 minutes ago, rooster59 said:

PRIME MINISTER General Prayut Chan-o-cha does not want people to think that last week’s announcement of an election timetable is behind the recent rise in the Thai stock market

 

The PM may not want people to think that the reason the market went up was because of the announcement of the election timetable...

 

...but I sure as hell think that.

 

Many Thai people have stopped believing your B/S General

You twist everything to look good for yourself & the junta.

 

Its called "Ruling by Fooling"

Tourism and Travel are never to be  underestimated in direct contribution on GDP,

in 2016  figures of 1,292.5 bn  THB = 9.2% of total GDP in 2016,

Forecast  of rising to 9.3% in 2017 

and further rising of of 6.3% 2017-- 2027  to a projected 2,708 bn  THB  a direct contribution of 14.3 % of GDP

 

If the money generated was not wasted on large ticket item (submarine ) there may have been a significant saving on wastage.

but alas I am only looking in from the outside and what would I know about using the common peoples money responsibly.

LOL

Here we go again !! Captain fanstastic speaks more BS !!

Crazy thing is he actally believes his own bs.

Announcement of election  next year is what caused the SET to rise.

 

Well at least steven 100 will be happy that his idols claims are getting publicity.

2 hours ago, rooster59 said:

Prime Minister General Prayut did not want people to believe that the announcement of the election timetable was the only thing pushing the index up

When this comment comes up, everybody knows it time to read between the lines. Off course, it can also be like he is totally incomtetent and know nothing about economics.

2 hours ago, rooster59 said:

Prayut also wants to the general public to view the stock market as ... a place for savings and investment for the wider general public

 

Great advice:  invest your money in something that lost 60% of its value not that long ago, and will inevitably crash again at some point.

 

He does seem to be rather out of touch with reality.

Delusional still. Strange how it only rose the day after an election time frame was stated. It should be accurately read as a total lack of confidence in Prayuth's economic management.

"Junta rule and lack of adequate reform have hurt economy", say academics

who do you believe ?

regards worgeordie

3 hours ago, rooster59 said:

The bump in the Thai bourse was also a vote of confidence by investors in the military government’s management of the economy, he said.

gives me a headache

When you are in control backed by the tank and the rifle you can spout any junk from the tower! The Thais know the truth !


Sent from my iPhone using Thaivisa Connect

1 hour ago, Get Real said:

When this comment comes up, everybody knows it time to read between the lines. Off course, it can also be like he is totally incomtetent and know nothing about economics.

That boot would be on your foot.

15 minutes ago, worgeordie said:

"Junta rule and lack of adequate reform have hurt economy", say academics

who do you believe ?

regards worgeordie

And which academics would that be?

57 minutes ago, Oxx said:

 

Great advice:  invest your money in something that lost 60% of its value not that long ago, and will inevitably crash again at some point.

 

He does seem to be rather out of touch with reality.

What on earth are you on about?

10 minutes ago, shanesox said:

When you are in control backed by the tank and the rifle you can spout any junk from the tower! The Thais know the truth !


Sent from my iPhone using Thaivisa Connect

The spouting junk is from those who cannot even be bothered to check the SET.

6 minutes ago, SheungWan said:

And which academics would that be?

Read the post where i quoted from, you have posted 4 answers 

and none have content or make sense.

regards worgeordie

3 hours ago, rooster59 said:

The bump in the Thai bourse was also a vote of confidence by investors in the military government’s management of the economy,

The bump in the Thai bourse could also be an interpretation by investors that the election in 2018 will hopefully bring about an opportunity for the  removal of Prayut and his bumbling economic dullards.

Then again it could be evidence that Prayut is making economic decisions to preference his high flying wealthy city slicker mates where he knows economic rewards will be coming from.

Nothing to be gained from the country folk who he visits occasionally to put on a few insincere shows of driving tractors in his shiny suit and kissing frogs. 

Well done Khun Prayuth Chan O Cha ...  Thailand needs someone to control the political unrest and instability that the red shirts try to instill.

17 minutes ago, steven100 said:

Well done Khun Prayuth Chan O Cha ...  Thailand needs someone to control the political unrest and instability that the red shirts try to instill.

Quite correct to an extent. 

 

When looking at the SET over 10 years one can see that it dropped not when protests started, but when the previous govt supporters went on their rampage through the city. It bounced back very quickly when Prayuth brought stability back to Thailand.

 

In 2015 in dropped again in line with all other Asian stock, but rose again in January 2016 and continued to record levels in 2017. Of course Prayut cannot be congratulated solely for this rise although he has played a big part in it. External factors played a role like U.S. economic policy, UK’s strategic plan after Brexit, China’s measures to boost liquidity, and Japan's exports rise for the first time in 15 months in December, 2016.

 

In short, the Thai SET is a success story under the Junta.

 

Of course Yingluck can be congratulated for the rise in 2012 and for the rise recently when she left Thailand ran away from accountability.

 

11 minutes ago, steven100 said:

Well done Khun Prayuth Chan O Cha ...  Thailand needs someone to control the political unrest and instability that the red shirts try to instill.

Khun Prayuth Chan-o-cha kissing the lucky economic frog and praying to it to boost the bourse.

4 minutes ago, djjamie said:

Quite correct to an extent. 

 

When looking at the SET over 10 years one can see that it dropped not when protests started, but when the previous govt supporters went on their rampage through the city. It bounced back very quickly when Prayuth brought stability back to Thailand.

 

In 2015 in dropped again in line with all other Asian stock, but rose again in January 2016 and continued to record levels in 2017. Of course Prayut cannot be congratulated solely for this rise although he has played a big part in it. External factors played a role like U.S. economic policy, UK’s strategic plan after Brexit, China’s measures to boost liquidity, and Japan's exports rise for the first time in 15 months in December, 2016.

 

In short, the Thai SET is a success story under the Junta.

 

Very well said  ....   a good post that speaks the truth.

 

9 minutes ago, Cadbury said:

Khun Prayuth Chan-o-cha kissing the economic frog and praying to it to boost the bourse.

oh Cadbury  .. .....    you just can't stand the truth .....    just another nayer who tries to twist things in their favor.

I think those new glasses are squeezing the area between the ears.

This one for you Cadbury ..... 

48 minutes ago, SheungWan said:

1 hour ago, Oxx said:

 

Great advice:  invest your money in something that lost 60% of its value not that long ago, and will inevitably crash again at some point.

 

He does seem to be rather out of touch with reality.

What on earth are you on about?

 

Not sure which bit you don't understand.  In 1997 the SET fell 60%.  All markets crash periodically.  It doesn't make sense for poor people to invest in stock markets; they're better off with money in the bank which won't dramatically lose value at a time potentially when they might need it.

Government's management of what haha..I will.screen save this lol. In time will be worth something

1 hour ago, SheungWan said:

And which academics would that be?

They have hurt everything and will further push for anti farang tourism and pressure Thai night life businesses until there finished..There delusional and think the country has a abundance to offer.  All dreams not reality. China will dry up and then? 

2 hours ago, Reigntax said:

Delusional still. Strange how it only rose the day after an election time frame was stated. It should be accurately read as a total lack of confidence in Prayuth's economic management.

Yes he is not bright

Well, let's see how markets react when the full extent of the Junta debt comes to light when they vacate the palace !