The Stock Exchange of Thailand today released its official report as of November 17, 2000 on listed company operational results for the third quarter, ending September 30, 2000. 365 from 381 listed companies have submitted their financial statements as of November 17, 2000.
Listed Companies in the Production and Services Sector (excluding financial institutions and companies in the REHABCO) Over the past nine months (January - September 2000), 297 listed companies in the production and services sector has had the total net profit of 16,903 million baht, up by 134% from the total net loss of 50,272 million baht in the same period last year. The total net profit, excluding the loss from the exchange rate of 33,782 million baht, is 50,685 million baht, improved from the total net loss of 1,225 million baht in the same period last year. For the past three months (July - September 2000), these companies have had the total net loss of 15,276 million baht, down by 78% from the total net loss of 68,483 million baht in the same period last year.
As for the operational results of listed companies in the first nine months of 2000, companies in 22 production and services sectors reported profit. The top five sectors with the highest profits are Transportation, Electrical Products and Computer, Electronic Components, Pulp and Paper, and Energy. The companies in these sectors have had a total net profit of 26,403 million baht, up by 327% from the total net profit of 6,182 million baht in the same period last year. This is because the sales growth in these five sectors has increased by 24%, with the gross profit margin of 32%.
Companies in six sectors reported loss. The top five sectors with the highest losses are Chemicals and Plastics, Property Development, Building and Furnishing Materials, Entertainment and Recreation, and Health Care Services. The companies in these sectors have had a total net loss of 26,616 million baht, down by 51% from the total net loss of 53,994 million baht in the same period last year. This is because the sales growth in these five sectors has increased by 22%, with the gross profit margin of 27%, close to that of 26% in the same period last year. Moreover, the loss from the exchange rate has also decreased by 33%.
With regards to sales, companies in the production and services sector recorded an increase in sales, with the sales growth of 18% over the past nine months, and the gross profit margin of 26%, close to that of last year. The return on equity increased to 2.31%, when compared to -7.05% for last year. The return on asset increased to 0.67%, when compared to -2.01% for last year.
Listed Companies in the Banking and Finance and Securities Sector comprising commercial banks and finance and securities companies have reported a summary of operational results as follows:
Banking
Over the past nine months, thirteen commercial banks and the Industrial Finance Corporation of Thailand have had the total net loss of 1,704 million baht, down by 99% from the loss of 214,533 million baht in the same period last year. This is because the income from interest and net dividends before the provision of doubtful debts losses have increased by 221%, as these commercial banks have high levels of spread. In the third quarter, these banks have the total net profit of 73,944 million baht, up by 254% from the loss of 47,878 million baht in the same period last year. If the profit and loss from selling foreign exchange to subordinate loans of the two commercial banks were not included, all commercial banks would the total net loss of 22,642 baht.
Finance and Securities
For the past nine months, twenty-one finance and securities companies have had the net profit of 1,011 million baht, up by 112% from the loss of 8,334 million baht in the same period last year. This is because the income from interest and net dividends before the provision for doubtful debts losses and the non-interest incomes have increased. In the third quarter, these companies have the total net profit of 979 million baht, up by 268% from the total net loss of 582 million baht in the same period last year.
Progress on Debt Restructuring of Listed Companies
In the first nine months of 2000, 142 listed companies reported the progress on debt restructuring. These listed companies have restructured 458,431 million baht worth of debts, or 50% of the total debts, up by 82% from the 251,500 million baht worth of debts restructured in December 1999. As for the debt restructuring methods, listed companies have restructured 285,269 million baht worth of debts (62%) by extending the debt period, 56,245 million baht worth of debts (12%) by converting to equity and debenture, and another 116,917 million baht worth of debts (26%) by selling property for debt settlement and other methods. There are, however, another 477,372 million baht worth of debts in the process of debt restructuring.
For more information on listed companies' operational results, investors and interested persons can log on to the SIMS system or visit the SET Web site (www.set.or.th).
