Managing Director of the Capital Market Opportunity Center (CMOC) and the Market for Alternative Investment (MAI), Ms. Sopawadee Lertmanaschai, in disclosing the listed companies' operational performance in 2001, said that, as of the 4th March 2002, 369 out of a total 384 listed companies (96% of the SET and the MAI) had already submitted their financial statements for the year ending 31 December 2001. Among these, 285 companies, or 77%, reported net profits totaling 205,921 million baht, which showed an improvement from last year's results when listed companies reported net losses of 51,220 million baht.
"Most of the 289 companies listed in the Industrial and Service sectors (excluding financial institutions and companies under rehabilitation - the REHABCO Sector), recorded improved operational results, with total net profits of 109,434 million baht, compared to that of only 41,473 million baht in 2000. The top five sectors together recorded net profits of 73,491 million baht, or 35.69% of the total net profits of all listed companies. Moreover, these five combined accounted for 42% of total market capitalization of the Thai market. Factors leading to improved operational results were increased sales volumes, a decline in general interest rates, and gains from foreign exchange, which accounted for much of the lost last year," Ms. Sopawadee said.
Ms. Sopawadee went on to say that: "Financial institutions are also poised for improved results. The thirteen commercial banks plus the Industrial Finance Corporation of Thailand posed total net profits of 84,718 million baht, whereas last year they posed net losses of 10,287 million baht - a growth of 923.54%. This was due to the fact that this year Bangkok Metropolitan Bank Plc (BMB) and Siam City Bank Plc (SCIB) reversed special provisions for doubtful debts that amounted to 99,268 million baht under the NPL transfer program to the TAMC, which then became revenue. The performance of the sixteen Finance and Securities Companies showed a similar trend. Out of these sixteen, twelve posed net profits while the remaining four posed net losses. Total net profits in this sector were recorded at 3,687 million baht, compared to net losses of 476 million baht last year."
In regards to companies under rehabilitation (the REHABCO Sector), 39 companies out of 51 have already submitted their financial statements. Of these, 22 companies recording net profits of 6,871 million baht in total, rising 108% compared to the same period last year.
"For companies undergoing the debt restructuring process, 75% reported progress in debt restructuring. There were 148 companies submitting progress reports, with a total of 920,344 million baht worth of debt restructured, accounting for 75% of all debts. Processes these companies underwent included debt-payment extension (54%), securitization (14%), principal and interest reduction (9%), and asset transfers and capital increases, along with other processes (23%)," the Managing Director of the CMOC and the MAI explained.
