The performance of Thai corporations should gradually improve this year as the domestic economy recovers and inflationary pressures ease, according to analysts at Fitch Ratings’ 2023 Thailand Corporate Credit Outlook & Asean ESG conference in Bangkok recently.
Lertchai Kochareonrattanakul, senior director of corporates at Fitch Ratings (Thailand), said in his presentation that a pick-up in domestic demand and recovery in travel-related activity should support continued earnings growth for Fitch-rated corporates in the food and beverage, telecom, aviation and hospitality sectors.
Earnings should improve for the power and utility sectors, which were hit hard by high fuel costs in 2022, as cost pressures ease.
However, petrochemical companies’ recovery pace will be challenged by…
