CRC Jumps 3% as Political Issues Eased, Bringing Economic Activity in Thailand

The share price of Central Retail Corporation Public Company Limited (SET: CRC) rose 3% at the open on Tuesday as economic activity started to accelerate after a temporary halt from political uncertainties in the kingdom.


Earlier this morning, the Thai parliament will choose the chairman of the parliament after a month-long argument between the two big parties over the position. Wan Muhamad Noor Matha, a veteran politician from the Prachachat Party, which is also the alliance of the new coalition party, is seen as a top prospect to become the chairman.


Krungsri Capital Securities (KSS) wrote last week that CRC shares rose sharply last Friday as investors’ optimism was bolstered by the political conditions, which became clearer after the Pheu Thai Party walked away from House speakership and pledged to work with Move Forward to form the next government.

The brokerage firm also anticipates a variety of new government schemes to support rising electricity prices, and other spending, which will likely offset any negative effects from raising the minimum wage to THB450 per day.

Krungsri maintains a “BUY” call on CRC shares with a target price of THB50.0.


Meanwhile, CRC yesterday reaffirmed its commitment on bringing the future to give an unreal experience to its customers by introducing the world’s first immersive platform – CRC Immersive Retail Platform, with C-Verse as the starting project. The platform elevates the shopping experience to unprecedented heights, transcending beyond the concept of omnichannel. Customers can immerse themselves in a virtual store, pick products from 3D shelves, and explore them in 360 degrees, all at their fingertips. Customers can also enjoy ordering products through Personal Shopper and enjoy exciting features based on Generative AI technology. For instance, they can interact with AI Avatar for real-time advice. To make shopping even more fun, they can use AR Mode to connect the experience between online and offline, offering customers the opportunity to shop, take photos, and play games.