AEONTS reported 3Q24 (end of Nov 24) at Bt788.57m, +11.7% yoy, beats Bt687m consensus, thanks to Bt94m gain on disposal of AEON Microfinance (Myanmar) in Nov 2024, operation wise PPOP came in at Bt2.6b, -4.9% yoy, -12.6% qoq, loan port -4.4% yoy & -1.8% qoq, NPLs -0.3% qoq to Bt5.3b but NPL ratio increased due to loan contraction.

Comment: If AEONT can’t grow its port = the econ is still FUBAR.

BBIK collabs with SCB’s brokerage unit, Innovest X, to develop trading platform for multi assets.

Comment: The banks are split between the IT players in Thailand, BBIK & BE8 are the two getting the market share.

BIS sees FY24 revenue flat yoy, but net margin rose to 3% from 2.1% yoy, on strategy to sell under its own brands instead of selling raw material, sets 10-12% revenue growth target this year on oversea expansions, both sales and investment.

SEC/SET mulls procedure to disclose info about management of listed cos who pledged their shares as collateral to increase transparency, as there were several cases where the pledged share were forced sell, causing damage to others. Latest one is RS, where stock fell 30% each for past 2 days, as 222m shares were pledged and later forced sell.

Comment: Hmmm…if that goes public…then I’m going to start a proper L/S fund to target companies where the owners have heavily margined their shares. If you’re cheeky, spread some news and (now use your own imagination)

SAPPE maintains 15-20% FY25 revenue growth target driven by larger beverage sales in EU market following penetration thru modern trade in FR & UK, full year contribution from sales thru Walmart in the US, increase market share after rebranded SAPPE Beauti drink, new capacity will be up from 2Q25, lifts production output by 25%.

SC reported 80% sold at Reference Wongvien Yai condo project (40% transferred), expects positive transfer momentum continue in 1H, plans to launch 3 condos projects this year total Bt7b, focusing on location to capture real demand segment, will kick-off pre-sales 1st project, Reference Kaset District, 381 units 21 storey worth Bt2b on Jan 22.

TNDT acquires 30% stake in energy drink & functional drink producer, High Kick, for Bt69.989m, funding will come from RO in accordance with the purpose of using additional as approved in EGM on Jul 26,2024.

Comment: Diworsesification…this company used to be a great small cap that was a niche player and now they’re doing this…ffs…its akin to the period where every thai company started to do leasing and look at how that turned out.