Article & Research

02-08-2023

Cambodia in Focus: Moderate growth outlook with external sector vulnerabilities

Moderate GDP growth is expected to continue in 2023 from a recovery in exports of services following China’s reopening.

31-07-2023

FINANCIAL INSTITUTIONS - Banks

We maintain a “stable” outlook on Thai commercial banks. Thai banks’ overall earnings in the first half of 2023 (1H23) were largely in line with our expectations, despite weak credit growth and moderately higher credit costs, thanks to improved net interest margin (NIM).

29-06-2023

Thai Economic Outlook 2023

Continued Recovery amid Tight Global and Domestic Financial Conditions

13-06-2023

Industry Research: Airline Industry - Jump in air travel demand with risk of fleet capacity deficit

Global air travel began to improve in 2021. Global revenue-passenger kilometers (RPKs) reached 68.5% and 90.5% of the pre-COVID levels in 2022 and April 2023, respectively.

31-05-2023

Natural Rubber Processors

The growth rate of NR usage is expected to be higher than NR production in 2023. Thus, the surplus in the NR market will narrow.

26-05-2023

Lao PDR in Focus: Continued economic recovery amid high inflation

Lao PDR’s real GDP growth is expected to be 4.5% in 2023-2024 in tandem with a relatively more stable macroeconomic environment and China’s re-opening.

22-03-2023

Vietnam in Focus: Strong recovery amid continued global and domestic risk

Vietnam’s GDP is expected to continue to grow at 6.0%-7.0%, slower than last year following global economic slowdown and decelerating domestic demand due to less effect of pent-up demand.

01-03-2023

PROPERTY INDUSTRY - HOMEBUILDERS AND REAL ESTATE DEVELOPERS

TRIS Rating expects the demand for housing to strengthen by 5%-10% this year. We expect the recovery of the domestic economy, the revival of the tourism industry, and the reopening of several countries, especially China, to outweigh the negative impacts resulting from the reimposition of loan-to-value (LTV) rules and rising interest rates.

29-12-2022

Oil Refinery and Retailer

Dubai crude oil price was expected at USD97 per barrel (bbl) in 2022 and USD80-USD95 per barrel in 2023.

27-12-2022

TRIS Views - 2022-2023 Thai Economic Outlook

TRIS Rating views that the Thai economy will grow by 3.2% in 2022 and 3.7% in 2023, revised upward from the previous forecast in September 2022 of 2.9% and 3.5%, respectively.

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Regulated Power

TRIS Rating maintains a "stable" credit outlook for Thailand’s regulated power industry. The US reciprocal tariff is expected to have a milder impact on power operators compared to other industries. Thailand’s power demand is projected to remain steady, supported by growth in S-curve industries and increasing EV adoption. However, smaller operators will be under closer monitoring regarding liquidity and refinancing capabilities.

Industry Analysis and Outlook - แนวโน้มกลุ่มสื่อและสิ่งพิมพ์

Industry Analysis and Outlook - แนวโน้มธุรกิจกลุ่มสินเชื่อบัตรเครดิตและสินเชื่อส่วนบุคคล

อุตสาหกรรมสินเชื่อบัตรเครดิตและสินเชื่อส่วนบุคคลยังคงเผชิญกับความท้าทายจากการฟื้นตัวทางเศรษฐกิจที่ล่าช้า ประกอบกับระดับหนี้ครัวเรือนที่ยังอยู่ในระดับสูง รวมถึงแรงกดดันจากต้นทุนทางการเงินและต้นทุนดำเนินงานที่เพิ่มขึ้น อย่างไรก็ตาม คาดว่าคุณภาพสินทรัพย์จะปรับตัวดีขึ้น

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