Nov. 28 (Bloomberg) -- Montree Sornpaisarn, chief executive officer of Maybank Kim Eng Securities (Thailand) Pcl, the nation’s largest stock brokerage, comments on the nation’s stock market and the impact of floods. He spoke today in a meeting with investors, which was broadcast via the Stock Exchange of Thailand’s website.
On Thai stocks:
“In term of valuations, Thai stocks remain attractive. The price-to-earnings ratio is still very low compared with other Asian countries. The impact of floods on the economy will be only for a few quarters. The government’s spending on rehabilitation will help the economy rebound next year.
‘‘The economic slowdown will probably prompt the central bank to cut benchmark interest rates in the next few meetings to spur growth. That should benefit equity investments.
‘‘Producers of cement, ceramic tiles and other building materials will be the biggest beneficiaries from the reconstruction following the flooding. We are quite positive about this sector.’’
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