ABERDEEN NEW THAI INVEST 
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Aberdeen New Thai Investment Trust PLC
Interim Management Statement - three months ended 30 November 2012
To the members of Aberdeen New Thai Investment Trust PLC ("the Company")
This Interim Management Statement ('IMS') has been produced solely to provide additional information to the Company's 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 months from 1 September 2012 to 30 November 2012 and contains information that covers this period and the period from 1 December 2012 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
The Board is not aware of any significant events or transactions which have occurred during the three months ended 30 November 2012 or between 1 December 2012 and the date of publication of this IMS which would have had a material impact on the financial position of the Company.
Share capital
Between 1 September 2012 and 30 November 2012, 196,528 Ordinary shares were issued in relation to the exercise of the equivalent number of Subscription shares. As at 30 November 2012, there were 19,171,747 Ordinary shares, with voting rights, and 2,049,678 Subscription shares in issue.
On 3 December 2012 and 2 January 2013, a further 96,045 Ordinary shares and 87,348 Ordinary shares were issued, respectively, in relation to the exercise of Subscription shares.
No Ordinary shares were bought back between 1 September 2012 and 30 November 2012 or between 1 December 2012 and the date of this IMS.
Accordingly, as at the date of this IMS, there were 19,355,140 Ordinary shares, with voting rights, and 1,866,285 Subscription shares in issue.
Ten largest equity holdings at 30 November 2012
% | |
Siam Makro | 6.9 |
PTT Exploration and Production | 5.8 |
Siam Cement | 5.7 |
Kasikornbank | 5.3 |
BEC World | 5.2 |
Siam Commercial Bank | 5.2 |
Tisco Financial | 4.1 |
Big C Supercenter | 4.1 |
Bangkok Insurance | 3.8 |
Thai Reinsurance | 3.6 |
Total | 49.7 |
Total number of investments | 39 |
Source: Aberdeen Asset Managers Limited.
Sector allocation as at 30 November 2012
Company | Benchmark Weight | |
% | % | |
Energy & Utilities | 16.4 | 20.1 |
Banking | 14.5 | 18.7 |
Commerce | 12.7 | 8.7 |
Construction Materials | 9.0 | 6.0 |
Insurance | 8.7 | 1.6 |
Media & Publishing | 7.9 | 2.2 |
Property Development | 5.8 | 7.4 |
Finance & Securities | 4.9 | 0.9 |
Automotive | 3.9 | 0.6 |
Food & Beverages | 3.8 | 6.0 |
Electronic Components | 3.5 | 0.8 |
Information & Communications Technology | 2.4 | 11.5 |
Property Fund | 2.3 | 1.5 |
Healthcare Services | 1.8 | 2.8 |
Packaging | 1.2 | 0.3 |
Transportation & Logistics | 0.6 | 3.1 |
Other | - | 7.7 |
Cash | 0.6 | - |
Total | 100.0 | 100.0 |
Source: Aberdeen Asset Managers Limited and Bloomberg.
General description of Company's financial position as at 30 November 2012
Gross Assets | £94.1m |
Debt - short term bank loan | £2.7m |
Cash | £0.5m |
Yield | 2.1% |
Net gearing * | 2.4% |
Premium / (Discount) of Ordinary share price to diluted Net Asset Value | (14.5)% |
* Net gearing is expressed as a percentage of gross assets (including current year revenue) less cash/cash equivalents, divided by shareholders' funds; in accordance with the definition set out by The Association of Investment Companies. | |
Cumulative performance (%)
As at 30 November 2012 | 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | |
Ordinary Share price | 378.3p | (0.1) | 11.7 | 23.2 | 45.1 | 158.0 | 154.3 |
Diluted NAV * | 442.6p | 2.2 | 13.5 | 19.9 | 48.2 | 146.6 | 177.8 |
Undiluted NAV * | 468.6p | 2.2 | 13.3 | 19.6 | 48.9 | 160.2 | 193.2 |
Subscription share price | 180.0p | (0.8) | 29.0 | 55.2 | 170.7 | - | - |
SET Index | 2.7 | 10.0 | 17.4 | 38.3 | 143.0 | 177.3 |
Discrete performance (%)
Year ended 30 November | 2012 | 2011 | 2010 | 2009 | 2008 |
Ordinary Share price | 45.1 | 2.7 | 73.3 | 52.4 | (35.3) |
Diluted NAV * | 48.2 | 1.8 | 63.4 | 67.6 | (32.8) |
Undiluted NAV * | 48.9 | 1.2 | 72.6 | 67.6 | (32.8) |
Subscription share price | 170.7 | (7.6) | - | - | - |
SET Index | 38.3 | (0.9) | 77.3 | 80.0 | (36.6) |
Total Return: NAV to NAV, net income reinvested, GBP; Share price total return is on a mid-to-mid basis. |
Dividend calculations are to reinvest as at the ex-dividend date. NAV returns based on NAVs with debt valued at par. |
* Excluding current year revenue. |
Source: Aberdeen Asset Managers Limited, Factset and Morningstar. |
For further information on performance, Ordinary and Subscription share prices and net asset value per Ordinary share, as well as up to date Fund Manager commentary, please refer to the Company's website (www.newthai-trust.co.uk #) from where the latest monthly factsheet may be downloaded.
# Neither the Company's website nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.
For Aberdeen New Thai Investment Trust PLC
Aberdeen Asset Management PLC, Secretaries
3 January 2013
This information is provided by RNS
RNS news service provided by Hemscott Group Limited.
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