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Big stock slide hits US$63 billion Thai infrastructure plan
来源： 编辑：编辑部 发布：2018/05/16 15:48:41
STOCK investors have yet to buy into Thailand's plan for a THB2 trillion (US$63 billion) expansion of railways, roads, airports and ports, Bloomberg reports.
How this impacts on China's Belt and Road infrastructure projects in the kingdom is as yet unclear. Thailand is said to be ready to spend US$40 billion on infrastructure on its eastern seaboard that links up to the Chinese initiative, according to Thailand Business News.
Malaysia's newly elected government, fearing greater naval activity in the region, is sceptical about Belt and Road, and intends to review options despite a general go-ahead from the previous government.
The SET Construction Services Index of builders that should benefit from an infrastructure drive has tumbled 16 per cent in the past three months. That's a record drop in the 19-member gauge for rolling quarterly periods, despite the military government's pursuit of a transport network overhaul, reports Bloomberg.
"There are a lot of news reports about projects, but progress remains slow," said Bangkok's Nawarat Patanakarn Construction CEO Polpat Karnasuta.
"We're unsure about hitting our annual revenue target because the pace of government project implementation was sluggish in the first quarter," he said.
Li Ka-shing's Hutchison Port Holdings said it's constructing a $600 million terminal at Laem Chabang port, with an initial phase due to start operations this year. The port is in the Eastern Economic Corridor, an industrialised zone the government has earmarked for a fresh phase of development.
How this impacts on China's Belt and Road infrastructure projects in the kingdom is as yet unclear. Thailand is said to be ready to spend US$40 billion on infrastructure on its eastern seaboard that links up to the Chinese initiative, according to Thailand Business News.
Malaysia's newly elected government, fearing greater naval activity in the region, is sceptical about Belt and Road, and intends to review options despite a general go-ahead from the previous government.
The SET Construction Services Index of builders that should benefit from an infrastructure drive has tumbled 16 per cent in the past three months. That's a record drop in the 19-member gauge for rolling quarterly periods, despite the military government's pursuit of a transport network overhaul, reports Bloomberg.
"There are a lot of news reports about projects, but progress remains slow," said Bangkok's Nawarat Patanakarn Construction CEO Polpat Karnasuta.
"We're unsure about hitting our annual revenue target because the pace of government project implementation was sluggish in the first quarter," he said.
Li Ka-shing's Hutchison Port Holdings said it's constructing a $600 million terminal at Laem Chabang port, with an initial phase due to start operations this year. The port is in the Eastern Economic Corridor, an industrialised zone the government has earmarked for a fresh phase of development.