Following the aid measures, issued by the Thai Cabinet to fight the impact of the coronavirus outbreak which includes a loan measure to workers without social security benefits in an amount of THB 10,000 per individual to prevent any informal debt during the outbreak.
The measure caused concerns to investors, which led to a selloff in leasing stocks for fear that companies operating in the industries could lose revenues.
To emphasize confidence in the business, Ms. Thida Kaewbootta, Director of Strategy of Srisawad Corporation Public Company Limited (SAWAD), has stated through Kaohoon’s Facebook Fan Page and YouTube Channel that the government’s measure was an excellent move and SAWAD saw that such measure would not affect the company’s business operation.
Ms. Thida saw that there would be a higher demand for loans than what the stimulus plan had provided and SAWAD had liquidity for its base customers as well as new customers. Moreover, the company did not expect an NPL to increase as borrowers only require cash for a daily basis, while the outbreak would not last long.
More importantly, Ms. Thida emphasized that SAWAD has strong liquidity with an unused credit with the bank worth 5-6 billion baht, thus, the company is ready to support those affected by the outbreak.
SAWAD closed the day at ฿40.75/share, increased ฿4.25/share or 11.64%. The highest of the day was ฿41.75/share and the lowest was ฿36.50/share with a trading value of 703 million baht.