, Columnist
For Thailand, the Future Draws Nearer
A long-delayed infrastructure boom is drawing nearer.
This article is for subscribers only.
An aging, fading, military-controlled Thai economy is on the cusp of its long-delayed infrastructure revolution, but you wouldn't know it from the share prices of the big four in the nation's construction industry.
Ch. Karnchang Pcl, the largest by market value, fell to a four-month low last Friday after tepid results at its power and transportation units. While rising steel prices could squeeze profit, a bigger jolt to investors may be the summary sacking last week of the entire board of the State Railway of Thailand by Prime Minister Prayuth Chan-Ocha.