The Centre for Economic Situation Administration (CESA) approved, on Wednesday, the old cars trade-in scheme of 100,000 cars in order to boost domestic car demand.
The project is part of the second economic stimulus measure passed by the subcommittee. The car scheme is set to revive the automotive industry from the economic downturn and support eco-friendly energy.
Danucha Pichayanan, the secretary-general of the Office of National Economic and Social Development Council (NESDC) said that other projects have been approved which will promote the medical equipment industry, employment, tourism, and overseas trade.
The approval of the stimulus scheme has translated into positive sentiment for stocks in related industries during Thursday’s trading session.
“[The] new measures (tax savings) will benefit stocks such as EPG, STNALY, SAT, and AH.” said analysts at Krungsri Securities.
As of 15.48 p.m. on Thursday, Somboon Advance Technology Plc (SAT)’s share price increased sharply by 8.03 per cent to trade at 14.80 baht per share with a transaction value of 188.9 million baht.
While Eastern Polymer Group (EPG)’s share price rose up 2.54 per cent to 6.05 baht per share with a transaction value of 64.9 baht per share.