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Closure of Chinese factories to impact Thai electronics industry

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BANGKOK (The Nation/ANN): Thailand's electronics industry could be affected by the closing down of factories in China's Hubei province due to the outbreak of the novel coronavirus (Covid-19).

Soraphol Veerametheekul, senior director at Kasikorn Securities Plc, said that most of the factories in those areas are automobile manufacturers which require raw materials such as electronic components from Thailand, ” he said.

Soraphol estimated that companies which will be impacted include KCE Electronics Plc , which has revenue ratio from China at 10 per cent of its overall revenue.“However, currently the company has yet to adjust original profit estimation at Bt1.184 billion, or 35 per cent increase from last year.” “The company estimates that the baht will continue to weaken in the first half of 2020 and start to strengthen in the second half, resulting in a suitable price of Bt23.3 for each KCE share, ” he added.

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