Stocks in the news (asw, bafs, okj, preb, qtc, stec,ea, nusa) 04.10.24
ASW reported 9M residential sales +24% yoy above Bt14.5b account for 82% of Bt17.8b FY target thanks to well diverse portfolio between leisure condo in tourist town, campus condo and SDH project, will launch Bt5b project 47 storey 606 units, Aquarous Jomtien Pattaya, in 4Q
BAFS keeps 5b ltrs FY jet refueling volume target, expects 4Q sales vol accelerate aft Air Asia X shifts operation to DMK, tailwind from recent cod-ed 3rd runway at SIA, growth from SAF & pipeline unit boost earnings.
Comment: There’s no stopping the increasing number of airlines coming to Thailand. Capacity expansion is continuing at all airports.
OKJ: Phuk Phak PrawRak Mae pcl, an organic restaurant chain under Ohkajhu brand debut IPO 159m shares at Bt6.7 apiece, Bualuang leads.
Comment: It’s not cheap (both the stock and the food), but it’s a popular well known brand let’s see if retail gets excited
PREB wins a Bt1b contract to build hotel in Pattaya, lifts backlog above Bt7b to realize till 2027, expects to secure additional project from Bt5b current bidding by end of year.
QTC signed partnership agreement with SolarEdge Technologies to distribute inverter & smart energy solutions in TH.
STEC acquires 51% stake in water management company, Mars Water Supply, for Bt317m, expects outright benefits from its Long-term contracts to sell water for industrial use in Bangpoo & Lat Krabang industrial estates, plus water purchase contract with Nakhon Luang Industrial estates in which project is in process of selecting contractor to develop project.
Comment: Feel sorry that the factories at these industrial estates are going to be at the behest of Anutin to get water. The crony capitalism in Thailand is no longer amusing to watch.
Department of Special Investigation (DSI) has taken over criminal cases involving ex-managements of EA and NUSA.
Comment: Add ANAN, SABUY, NRF, SBNEXT, all companies where management lied to their boards and shareholders
Geoffrey Carter
With regard to the Mars Water Supply water management company. Of course, it is not Anutin taking over this Company. STEC has no choice but to bail out Mars Water which is part owned by the Khunpleum family and Co. Not sure about the set up, but I previously persuaded them to construct the first waste water treatment plant for Pattaya in the 90s. The plant worked but then there was no money for maintenance and Pattaya tripled in size. Nowadays the waste water is untreated and goes out to sea. STEC is likely to maintain a quality water supply at a similar cost to other Industrial Estates in Thailand that I have been involved with. No room for Anutin to benefit from the water supply but from possible construction contracts for industrial buildings on the estates. As I recall, these estates need improved flood water defenses and related infrastructure.
Pon
STEC is Anutin…
Nonetheless thank you for clearing up the specifics and the informing on the history of the entity. Very much appreciated.