BTS and BEM stock prices fall after temporary shutdown by the government

The share price of BTS Group Holdings Plc. (BTS) and Bangkok Expressway and Metro Plc (BEM) both fell since trading began on Monday as the market responded to the temporary closure of the public transport system due to the ongoing political rallies.

As the morning session ended, BTS share price declined 4.28 per cent to 8.95 baht, decreased 0.40 baht, with a transaction value of 546.84 million baht.

While BEM share price dropped 4.71per cent to 8.10 baht, a decrease of 0.40 baht, with a transaction value of 374.75 million baht.

All BTS Skytrain and MRT subway stations were closed by the authorities as protesters started gathering in the past few days. The authorities hoped to discourage anti-government protesters with the move.

Analysts at KTB Securities said that there was going to be negative sentiment for both of the public transport giants due to the shutdown.

If the protest is likely to continue and be widespread, the greater impact may result in the earnings forecast of BTS and BEM because the companies will lose revenue (approximately -0.5 to -.06 per cent per day), said KTB.

VGI

VGI is the country’s largest out-of-home media service provider, with most of its revenue coming from advertising on transportation and transit spaces.

According to analysts, the shutdown of the Skytrain lines will result in a negative sentiment on VGI’s share price in the short term as0 transit media users will postpone the service period contract rather than cancel it.

KTB still maintains ‘Buy’ on VGI at the target price of 8.00 baht, While the VGI share price stood at 5.90 baht after the morning session ended, down 0.30 baht or 4.84 per cent, with a transaction value of 190.2 million baht.

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