Summary of key points in 2023: CK’s 4Q23 net profit was 156 million baht (+39% YoY but -76% QoQ) oi) weak gross margin, ii) no allocated income, and iii) The share of returns from related companies’ investments are lower.
Overall, the net profit in 2023 increased by 36% YoY to 1.5 billion baht, following i) revenue that doubled to 36.6 billion baht and ii) good control over administrative costs of around 2 billion baht. Finance costs rose 30% YoY to 1.8 billion baht amid the rising interest rate cycle (Figure 1) Looking on the optimistic side, there is a high backlog of 128.5 billion baht at the end of 2023 (56 billion baht in 2022) after Has signed a 100 billion baht contract in 3Q23 to develop the Luang Prabang Dam project in Lao PDR.
Get a chance to get jobs from upcoming public investments from the government sector.
The current government is rushing to complete the final budget for 2024, faster than May 2024. It is April. 2024 While CK expects that new government projects worth a total of about 515 billion baht will come out in 2024-25 (Figure 7), we estimate that new government projects worth about 233 billion baht,
Old Milk Becomes Gold Extracting Valuable Metals From…
Although cheap, the process described by Swiss scientists is quite inefficient – the majority of the resulting bars consist of copper
Old milk, which is no longer fit for consumption, can become one of the most valuable raw materials. Especially since scientists have managed to use old milk to develop a material that extracts gold from electronic waste. Their development was published in February in the authoritative journal “Science”.
There is a huge amount of precious metals in already useless electronic components such as circuit boards and chips, with gold being one of the most used elements in their manufacture. Another such metal is platinum, for example. In reality, at the rate at which new electronic components are produced and become waste at the end of their life cycle, e-waste is a veritable “gold mine”. Until now, the precious metals have been extracted from them by treatment with extremely toxic chemicals that damage both human health and the environment as a whole.
However, scientists at the Swiss Institute of Technology in Zurich have developed a new method for extracting gold and other precious metals from old electronics. As the method is safe, because it actually uses a biological product,
Brewer AB InBevs Stock Suspended Amid Altria Stake…
Belgium’s Financial Services Authority Suspends AB InBev Trading
On Thursday, Belgium’s Financial Services and Markets Authority (FSMA) made a request to suspend trading of Anheuser-Busch InBev’s shares following the announcement of tobacco giant Altria’s decision to reduce its stake in the brewing company.
Altria’s Stake Reduction
Altria, a U.S. cigarette manufacturer, revealed its plan to decrease its approximately 10% stake in the leading beer producer by selling around 35 million shares, equivalent to a fifth of its total holding. In response, AB InBev announced a buyback of $200 million worth of shares.
Trading Suspension
AB InBev confirmed that the FSMA had requested the suspension of trading until the release of a pricing update later that day. CEO Michel Doukeris emphasized the company’s commitment to disciplined capital allocation decisions and stated that participating in the offering aligns with their strategic goals.
Analyst Insights
RBC Capital Markets analyst James Edwardes Jones noted that Altria’s decision to reduce its stake in AB InBev was expected. He predicted a temporary impact on ABI’s share price but deemed it insignificant in the long term.
Altria initially acquired a stake in AB InBev as part of the deal with SABMiller in 2016.
Bitcoin At An All-Time High: The Reasons For…
Not tied to any real currencies, legally in the gray area, subject to high fluctuations as objects of speculation, a breeding ground for money laundering and other illegal activities: This is how cryptocurrencies have often been seen in the financial world in recent years.
But the picture has changed. On Friday evening, the price of the oldest and best-known cryptocurrency Bitcoin climbed to more than 70,000 US dollars (around 64,000 euros) for the first time. There has been an increase of more than 60 percent since the beginning of the year. The prices of other cryptocurrencies also rose in the wake. These are the reasons for Bitcoin’s all-time high:
Bitcoin-Fonds (ETF): In mid-January, the US securities regulator approved Bitcoin exchange-traded funds. This made it easier for investors to get started and was considered a milestone in the industry. ETFs are usually used to replicate the development of a stock market index. With these funds, fund providers purchase their Bitcoin holdings for their own account. Investors then do not receive the cryptocurrency itself, but rather a certificate certifying their claim to it. Demand increased, especially from institutional investors. Financially strong US pension funds, for example, are investing in the industry.
US Support For Customs Reform
Stakeholders during the launch of the Malagasy Customs support program for Air Cargo Services in Ivato, yesterday.
The US government provides financial support for customs administration reform. This is being done through $1.25 million in funding to establish a modern and fluid administration.
What causes customs to lose revenue is its time-consuming administration and cumbersome border procedures. In recent years, various reforms have been undertaken by Customs to modernize and equip its administration. For the first time, at least, since the beginning of the changes initiated, the Malagasy customs support project has been launched. It is the American government, through its Agency for International Development, which finances the program. Its implementation will be the responsibility of the United Nations Development Program (UNDP). Support for the various reforms undertaken by Customs translates into assistance with the tools and working methods to achieve tangible results. It was yesterday, in Ivato, on the occasion of the launch of the Malagasy Customs support project.
Completing the reform process initiated by the customs administration will ensure economic integration in a world where trade is constantly growing in flow and volume. Claire Pierangelo, United States Ambassador to Madagascar, affirms that this support will have a positive impact on the national economy.
EuroChem Puts State-Of-The-Art Phosphate Fertilizer Complex Into Operation…
Serra Do Salitre, Brazil, March 13, 2024 (ots/PRNewswire) – EuroChem today celebrated the opening of its new phosphate fertilizer production facility in Serra do Salitre, Minas Gerais state, Brazil.
The new phosphate mine and plant complex, with a total investment of almost $1 billion, was built in record time and will have an annual production capacity of 1 million tons of advanced phosphate fertilizer, significantly increasing the reliability of domestic phosphate fertilizer supplies to Brazilian farmers.
The plant offers state-of-the-art integrated phosphate fertilizer production with low water consumption, a fully closed water cycle and a clean energy generation system that reuses its own steam and generates up to 40% of the plant’s total energy needs.
“EuroChem has a long and successful history in South America, an important growth market for us where there is high demand for our products,” said Oleg Shiryaev, President of the EuroChem Group. “The opening of our new facility brings us one step closer to our customers and allows us to provide Brazilian farmers with access to the highest quality fertilizers through our well-established distribution network in this important global breadbasket. EuroChem works from mine to farm and ensures reliability and quality throughout the entire fertilizer supply chain,
Adema Gloomy About The Future Of Farmers: It…
#Adema #gloomy #future #farmers #dramatic #Domestic
The Hague – Things are looking ‘quite dramatic’ for farmers now that the manure policy will be sharply tightened in the near future. This is what outgoing minister Piet Adema (CU) said in the House of Representatives a day after he held consultations in Brussels about tightening the European regulation. “There is no optimistic minister here,” he gloats.
Brussels has tightened the thumbscrews on the Netherlands because the water quality is not in order in many parts of the country. This means that considerably less manure can be spread. Restrictions have already been imposed, but they will be greatly increased in the near future.
Tightenings
“It looks quite dramatic for the years 2025 and 2026,” says Adema. He confirms that he is having discussions about this in Brussels. “But it is incredibly difficult to get this moving.” The minister thinks he can send an amendment to the Fertilizers Act to the House of Representatives before the summer, containing the enormous tightenings. In short, it will mean that even less manure can be spread over our fertile delta.
Retail Sales Rebound In February Following Steepest Decline…
Retail Sales Rebound in February with Steady Growth
Retail Sales Rebound in February with Steady Growth Retail sales increased by 0.6% in February, following a decline in January
Retail sales rebounded in February after seeing their steepest decline in nearly a year during the month prior. According to the latest Census Bureau data, retail sales rose by 0.6% in February compared to the previous month. Economists, however, had projected a slightly higher increase of 0.8% based on Bloomberg data. It is worth noting that retail sales in January unexpectedly experienced a 1.1% decrease.
People shop in a Kohl’s department store on March 12, 2024 in Miami, Florida. (Joe Raedle via Getty Images)
“The modest rebound in retail sales in February suggests that consumer spending growth slowed in early 2024.”
In February, sales excluding auto and gas, matched the predicted estimates with a 0.3% increase. Notably, building materials and garden equipment witnessed the highest growth among the categories, rising by 2.2%. Motor vehicle and parts dealers saw a sales increase of 1.6%, while electronics and appliance stores experienced a 1.5% sales growth.
The economy continues to show stability amid positive growth projections
The rebound in retail sales comes as the economy has largely maintained a solid footing in the beginning of 2024.
Basilicata, Renzi Will Support Bardi. And Calenda Is…
Calenda: “I’m going to Basilicata on Friday and Saturday, I want to see my parents and talk to them. I prefer not to have third-party candidates”
In the regional elections on April 21st in Basilicata Matteo Renzi’s Italia Viva will support the outgoing centre-right Governor Vito Bardi (Forza Italia). And how much Affaritaliani.it is able to anticipate.
ALSO CALENDA TOWARDS BARDI – That of supporting the centre-right candidate for the presidency of the Basilicata Region, Vito Bardi, is this a hypothesis in the field? “Of course, but I had already said this. The checks we do are from time to time on the quality of the candidate. We certainly do not support a left-wing populist or a parafascist candidate”, but in this case “there is a moderate candidate and pro-European, a man of the institutions, not the ‘Trux’ (i.e. the FdI candidate in Sardinia Paolo Truzzu, ndr). We will evaluate and, after gathering my parents, we will decide.” Thus the leader of Action Carlo Calenda at Radio InBlu, after the choice of Pd and M5S to run Domenico Lacerenza, together with Avs and +Eu. “I’m going to Basilicata on Friday and Saturday,