Aberdeen New Thai Investment Trust reported in their final results for the year ended 28 February 2019. Ordinary share price fell by 3.7%, in total return terms, while the discount to NAV narrowed from 14.8% to 13.9%. In total, the revenue earnings per ordinary share were 18.5p (2018: 11.1p).
Aberdeen New Thai Investment Trust continues to achieve solid long-term results with the NAV returning, on an absolute basis, 68.7% and 457.1% over 5 years and 10 years, respectively. Along with the interim dividend paid in November 2018 of 7.0p, the total dividends per share for the year amount to 18.0p.
The portfolio’s underlying stocks in the resources sector delivered solid returns, while the choice of industrial stocks further boosted the company’s performance. That said, insurance stocks were a major drag, whilst property and construction was another weak sector.
The development of the Eastern Economic Corridor (government initiative to enhance Thailand’s eastern seaboard) continues to gain traction according to the board. This area attracts the most FDIs.