Prices of global real estate investment trusts (REITs) edged near pre-pandemic levels following the economic recovery and progress in global vaccine distribution, while Thai REITs remain the laggard despite excellent returns compared to global counterparts and government bonds, says Veena Lertnimitr, executive vice-president of Siam Commercial Bank.
As of May 21, the SETREIT, an index reflecting the overall price performance of Thai REITs, still stood at 29.9% below the pre-pandemic level as they are heavily contributed to by companies in hospitality and retail which have been heavily impacted by the pandemic.
Meanwhile, the SET Index and S&P Global REIT Index have soared to near pre-pandemic levels.
Thai lender deploys fintech solutions to support trade finance growth in Myanmar and Vietnam
21 May 2021 |
The Asset
Siam Commercial Bank, Thailand’s third largest bank, has deployed two digital solutions from financial software and services provider Surecomp to support increased demand for trade finance processing in Myanmar and Vietnam.
The Bangkok-based bank is now using Surecomp’s SWIFT-certified IMEX solution to digitize and optimize the back-office trade finance transaction workflow, and allNETT, a front-office, multi-corporate-to-multi-bank platform, in the two markets.
A Surecomp customer since 2011, Siam Commercial Bank will also continue to leverage the solutions in Thailand and Cambodia for the streamlined processing of letters of credit and collections for reduced costs and increased profitability.
Surecomp, the leading provider of global trade finance solutions for banks and corporates, today announced that Siam Commercial Bank - Thailand’s third largest bank - is deploying the IMEX and allNETT solutions for integrated, straight through digital trade finance processing into Myanmar and Vietnam.
BANGKOK, April 30 (Reuters): Thailand s central bank is expected to leave its key rate at a record low of 0.50% for an eight straight meeting on Wednesday to help the tourism-reliant economy amid a third wave of coronavirus infections, a Reuters poll showed.
While the latest outbreak has caused over 36,000 infections in a month and slowed domestic activity, increased exports, another key growth driver, have lent some support.
All 14 economists surveyed expect the central bank s Monetary Policy Committee to leave its one-day repurchase rate at 0.50% next week, with some noting it has little policy ammunition left.
The rate has been unchanged since mid-2020 after three cuts that year to ease the impact of the Covid-19 pandemic.