Aberdeen New Thai Investment Trust PLC
Interim Management Statement - three months ended 31 May 2009
To the members of Aberdeen New Thai Investment Trust PLC
This Interim Management Statement ('IMS') has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.
This IMS relates to the three month period from 1 March 2009 to 31 May 2009 and contains information that covers this period and the period from 1 June 2009 up to the date of publication of this IMS, unless otherwise specified.
Investment objective
To provide shareholders with a high level of long-term, above average capital growth through investment in Thailand.
Benchmark
Stock Exchange of Thailand ('SET') Index (Sterling-adjusted).
Material events
Following shareholder approval at the Annual General Meeting on 25 June 2009, a final dividend of 3.50 pence per ordinary share (2008: 2.75 pence) was declared which will be paid on 2 July 2009 to shareholders on the register as at 5 June 2009.
The Board is not aware of any significant events or transactions which have occurred between 1 June 2009 and the date of publication of this IMS which would have a material impact on the financial position of the Company.
Share capital
As at 31 May 2009 and the date of publication of this IMS, the issued share capital of the Company was 18,095,420 Ordinary shares of 25 pence. There were no share buybacks during the period or between 1 June 2009 and the date of publication of this IMS.
Ten largest equity holdings at 31 May 2009
| % |
PTT Exploration and Production | 8.1 |
Siam Makro | 7.4 |
Hana Microelectronics | 6.2 |
Thai Reinsurance | 5.7 |
Siam Commercial Bank | 5.7 |
Kasikornbank | 5.3 |
Bangkok Insurance | 4.8 |
Siam Cement | 4.6 |
Big C Supercenter | 3.8 |
Aeon Thana Sinsap | 3.6 |
Total | 55.2 |
Source: Aberdeen Asset Managers Limited.
Sector allocation as at 31 May 2009
% | |
Banks | 13.7 |
Energy | 12.6 |
Insurance | 12.1 |
Retail | 11.2 |
Electrical Products & Computers | 8.5 |
Building & Furnishing Materials | 7.6 |
Finance & Securities | 6.2 |
Printing & Publishing | 5.4 |
Auto Components | 4.3 |
Property Development | 3.9 |
Food & Beverages | 3.5 |
Cash | 2.7 |
Water | 2.1 |
Health Care | 2.0 |
Packaging | 1.9 |
Professional Services | 1.1 |
Transportation | 1.0 |
Distributors | 0.2 |
Total | 100.0 |
Source: Aberdeen Asset Managers Limited.
General description of Company's financial position and performance as at 31 May 2009
Gross Assets | £31.3m |
Debt - short term bank loan | 2.0 |
Gearing # | 6.8% |
# Gearing - expressed as gross assets divided by shareholders' funds. | |
Cumulative performance (%)*
As at 31 May 2009 | 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | |
Share price | 138.0p | 11.7 | 15.0 | 29.0 | (24.5) | (1.5) | 46.4 |
NAV | 157.8p | 6.6 | 18.5 | 34.7 | (15.3) | 8.3 | 53.7 |
SET Index | 7.9 | 24.5 | 42.2 | (17.6) | 16.9 | 46.0 |
Discrete performance (%)*
Year ended 31 May | 2009 | 2008 | 2007 | 2006 | 2005 |
Share price | (24.5) | 9.2 | 19.6 | 35.5 | 9.7 |
NAV | (15.3) | 11.5 | 14.6 | 28.7 | 10.3 |
SET Index | (17.6) | 25.2 | 13.3 | 14.7 | 8.9 |
*Total Return; NAV to NAV, Net Income Reinvested, GBP; Share price total return is on a mid-to-mid basis. |
Source: Aberdeen Asset Managers Limited, Factset and Fundamental Data. |
For the latest information on performance, share price and net asset value per share as well as up to date Fund Manager commentary, please refer to the Company's website, www.newthai-trust.co.uk.
Please note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise. Investors may not get back the amount they originally invested.
For Aberdeen New Thai Investment Trust PLC
Aberdeen Asset Management PLC, Secretary
25 June 2009
RNS news service provided by Hemscott Group Limited.