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The Company currently conducts its affairs so that securities issued by Aberdeen New Thai Investment Trust PLC can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.
The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are securities in an investment trust.
The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.Read the detailed Risk Warning
Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.
At close 06-Mar-2014Ord
|Net Dividend Yield||1.86%|
Source: Morningstar, NAV = Net Asset Value, excluding income.
† Basis of calculation for Net Asset Value Beginning in mid-January 2007, the onshore and offshore currency rates for the Thai Baht diverged following the introduction of exchange controls in Thailand on 18 December 2006. With effect from 23 March 2007, this divergence had reached a material level such that the Trust opted to calculate and publish subsequent daily net asset values using the onshore Thai Baht rate to value Baht-denominated assets. This replaces the offshore rate used historically.
Bow Bells House,
1 Bread Street
Registered in England and Wales as an Investment Company Number 02448580
To provide shareholders with a high level of long-term, above-average capital growth through investment in Thailand.
In this webcast, Orsen Karnburisudthi gives an update on a wide range of subjects including performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.
With the Thai economy booming, global investors have taken a shine to the country. But could the risks facing investors rise again?
Find out more about Thailand by reading a specialist country report by The Economist Intelligence Unit.Thailand Country Report
(The information in this report is accurate as of April 2013)
Following the final Subscription Date (31 January 2013) for the exercise of outstanding Subscription Shares, a Trustee was appointed by the Company. The Trustee determined that there would be sufficient net proceeds from the sale of Ordinary Shares arising on the exercise of all outstanding Subscription Shares and 406,493 outstanding Subscription Shares were duly exercised. The net proceeds from the sale of the resultant Ordinary Shares after deduction of the Subscription price of 200p together with all associated fees, costs and expenses (including brokerage charges) should be received by Subscription Shareholders no later than 28 March 2013. Aggregate entitlements per holder of under £5.00 shall be retained for the benefit of the Company.
Thai stocks fell in January amid an intractable political crisis and a rout in some emerging market currencies, which cast a pall over developing economies.
The Bank of Thailand downgraded its 2014 growth forecast to 3% in recognition of the economic toll taken by the country’s leadership morass. However, it kept interest rates on hold at 2.25%, delivering a vote of confidence that a resolution would be found – or forced – soon.
For now, Thailand-bound tourists appear undaunted by the upheaval; visitor arrivals continued to climb in December from the previous year.
There were no significant changes to the portfolio in January.
In corporate news, Siam Commercial Bank and Kasikornbank were evidently unfazed by the challenging backdrop, boasting healthy fourth-quarter profits on the back of decent net interest margins. Conversely, higher provisions resulting from an increase in non-performing used-car loans marred Tisco Financial and Kiatnakin Bank’s results. Tesco Lotus PFPO’s profits also fell from the previous quarter. However, in a positive, yield-enhancing move, the fund acquired Navanakorn mall for 2.2 billion baht, funded entirely by debt.
Siam Cement’s profits were boosted by better chemical margins. However, PTT Exploration and Production’s lacklustre results were driven by higher non-production operating expenses, depreciation at Montara, and a heavy one-off adjustment. The company agreed to swap its 40% stake in the Leismer and Comer projects for a 60% stake in three new areas, which will help it save US$2 billion in capital expenditure over the next few years.
The prolonged civil unrest was partly culpable for Big C Supercenter’s disappointing results during the traditional high season; sales fell from the previous quarter and were flat for the year (although that was partially due to 2012’s very high base).
Thailand descends deeper into political disarray with each passing day. A state of emergency was declared, providing officials with more power to handle the protests, while, at the time of writing, the snap election was rendered inconclusive, as opposition demonstrators disrupted voting. It is likely no parliament will emerge within the requisite timeframe; meaning a judicial or military intervention is increasingly possible. The SET has faltered, but so far hasn’t fallen hard, perhaps reflecting the high quality of companies and the mentality that political turmoil is par for the course in Thailand.
Source: Monthly Factsheet Aberdeen Asset Managers Limited