'Shinawatra-linked' share prices take a hit

[webfact]

SHINAWATRA-LINKED
'Shinawatra-linked' share prices take a hit
Somluck Srimalee
The Nation

BANGKOK: -- Market capitalisation of stocks allegedly linked to the Shinawatra family dropped by Bt56.81 billion in 10 days after being targeted by the anti-government campaign led by the People's Democratic Reform Committee.

Four relevant stocks were valued at Bt919.93 billion on February 17, but only Bt863.12 billion as of yesterday.

The share prices of the four businesses named by the PDRC leadership as being related to the Shinawatra family - M-Link Asia Corporation, Advanced Info Service (AIS), Shin Corp, and SC Asset Corp - had declined since February 17, the day before the anti-business campaign kicked off.

Shin Corp, which has total paid-up shares numbering 3,206.42 million, recorded a share price of Bt76.25 on February 17, or market capitalisation of Bt244.48 billion. Yesterday its shares were trading at an average of Bt72 or market capitalisation of Bt230.86 billion, down by about 5.57 per cent or Bt13.62 billion.

AIS recorded market capitalisation worth Bt660.02 billion on February 17, with a share price of Bt222. Yesterday's figures were about Bt618.40 billion Bt208 per share on average. This means its market capitalisation dropped 6.3 per cent or Bt41.62 billion.

SC Asset Corp recorded market capitalisation worth Bt12.77 billion on February 17, with a share price of Bt3.44, dropping to about Bt11.43 billion yesterday with shares trading at an average of Bt3.08. Its market capitalisation dropped by about 10.4 per cent or Bt1.33 billion.

M-Link Asia Corp recorded market capitalisation worth Bt1.87 billion on February 17, with shares trading at Bt3.48 each. Yesterday's figures were Bt1.65 billion and Bt3.06 per share. Its market capitalisation dropped about Bt226.8 million or 12 per cent in the period.

Meanwhile, the SET Index dropped from 1,332.37 on February 17 to 1,301.38 on February 24, before moving up to close at 1,318.05 yesterday.


-- The Nation 2014-02-28

[american12bthai]

bamp

[terryp]

excellent news now what about the rest?

[tartempion]

Maybe some one could publish how much % shares of these holdings are in the hands of Taxin's family?

As far as I know AIS and Shin have been sold to Singapore state owned Temasek.

[Scamper]

A truly extraordinary drop in stock. Many were skeptical about the boycott, but it clearly has mobilized a lot of public support.

Edited February 28, 2014 by Scamper

[smutcakes]

Give it another couple of days dropping a few more and they would be worth buying. I am sure that is what many of the investors who despise TS are thinking.

Stupid thing is, I dont think most of his companies would really be affected by a boycott in the same way a service or retail company would be.

AIS is always going to be fine, SC Asset is a property company, so i am not sure how they can boycott that? Not sure about the other linked companies.

Anyway the price of the share on the grand scale of things means very little, especially when i don't presume the principal investors have any interest in selling it, its paper wealth anyway.

[Prbkk]

A truly extraordinary drop in stock. Many were skeptical about the boycott, but it clearly has mobilized a lot of public support.

Absolute nonsense. Read the charts....there was a run up in the price of these shares just prior to the decline. Someone bought them and then dumped them in a very poorly orchestrated attempt to give the appearance of a mass sell off. Their is no net decline. SC Assett is still trading 20% higher than its 52 week low.

A few people might be silly enough to view market manipulation as panic selling , but that is far from the reality.

[Thait Spot]

There's certainly enough equity there to get a loan to pay the farmers without breaking the law.....

[Yunla]

More passengers for the Plague Cart.

Bring out your dead.

I'm not dead yet!

Thwack!

[sungod]

Is any part of AIS owned by a company which in turn is owned by the Shins? Thought they had sold it?

[Estrada]

Propaganda Wars: It is just not true that the market capitalisation of AIS, INTUCH, and SC Asset dropped due to being targeted by the PDRC. For instance True also fell by 4% between 17th and 27th Feb which is the same as INTUCH. Furthermore, there is evidence of share price manipulation starting from the 1st Feb which drove SC Asset's price, which had normally been B3.06, to B3.40 on 17th Feb when some funds made a killing by selling their shares ahead of the PDRC announcement to sell shares of companies allegedly link to the Shins making a cool 11% profit. The share price then drifted down to its normal price of B3.06 on 26th, but yesterday rose by 2% to B3.12. Similarly AIS share price was driven up from B209 on 1st Feb to B222 on 17th Feb and was sold also making a 6% profit it then drifted down to normal levels and is currently B211. INTUCH shares which were B70.50 on 1st Feb were driven up to B76.25 on 17th Feb and then sold making 8% profit the share price, then drifted down to B71.25 on 26th, but jumped up by 2% yesterday to close at B73.25.

Secondly, the share price of TRUE jumped 5.6% on the 17th Feb prior to the call for PDRC supporters to sell shares of AIS and INTUCH which are competitors to TRUE. The question is who were manipulating the market? Was the PDRC successful in targeting AIS/INTUCH and SC, the answer is no. The share prices of shares in question are as follows: AIS 1st Feb B209 27th Feb B211(+1%), INTUCH 1st Feb B70.50 27th Feb B73.25 (+3.9%), SC Asset 1st Feb B3.06 27th Feb B3.12(+2%). If we compare these shares to TRUE which on 1st Feb was B7.20 and is now B7.30(+1.4%), there is no evidence that the PDRC call to boycott shares had any affect on the share price in the targeted companies. What it does show is that the shares in these stocks including TRUE were manipulated. Manipulation of stocks in Thailand is illegal.

[Trentham]

A truly extraordinary drop in stock. Many were skeptical about the boycott, but it clearly has mobilized a lot of public support.

It is not so much public support that has caused the drop. It is shareholders fear that the shares may fall a lot further that is the reason for the drop. The event may feed on itself and cause a big collapse as more and more try to get out - or it may bring in new buyers for the cheap stock and thus gain some support.

[Estrada]

A truly extraordinary drop in stock. Many were skeptical about the boycott, but it clearly has mobilized a lot of public support.

Absolute nonsense. Read the charts....there was a run up in the price of these shares just prior to the decline. Someone bought them and then dumped them in a very poorly orchestrated attempt to give the appearance of a mass sell off. Their is no net decline. SC Assett is still trading 20% higher than its 52 week low.

A few people might be silly enough to view market manipulation as panic selling , but that is far from the reality.

I agree with you it was clearly market manipulation I posted this on my FB page at the time and I have posted the figures in a following post.

[Jean Pierre Jacquot]

Which companies are linked to the Shins and what are the consumer products we should boycott?

Can anybody share this information or a link?

[rickirs]

In the stock market there are always a silver lining in bad news. When stock value is artificially depressed without regard to economic performance, it becomes a bargain purchase. And for those who currently hold such stock, the strategy becomes one of "doubling down" to acquire more stock at lower prices which lowers one's average stock price investment. For those new stockholders it means getting a higher yield on their investment. I wouldn't be surprised to see the financial supporters of Suthep and the Thaugsuban family buying stock now in Shinawatra related business stocks depressed by protesters. In some countries this stock manipulation would be illegal.

[smutcakes]

I would have preferred if this is what they did from the start, instead of that Shutdown Bangkok stuff...

Might save several lives also.

A couple of hundred strong group of paid protesters however wealthy are not going to affect those companies.

The sad fact is that the super patriotic persons behind it will be all to happy to make money from the companies to. Lucky TS did not come down with the last shower.