BAM: ARI-AMC, a venture company between Government Saving Bank & BAM will buy first lot of distressed assets in 4Q, target unsecured loan at 1st phase, 2nd jv with KBANK is under way, expects to get license from BOT by end of year.

Comment: This is going to be a multi-year process, it makes zero sense that the sector is traded so cheaply at the moment. Financing issues aren’t an issue for the AMCs, and under this government even a slow moving quasi-SOE like BAM is going to perform better than the past 2 years.

BCH expects patients traffic from Kuwait pick up in 4Q after medical transfer petition accelerate.

DOHOME sees 4Q turnaround from improved SSSG on the back of demand for home repairing post severe floor upcountry, tailwind from FY28 fiscal government budget disbursement started Oct.

Comment: I learnt about this type of trade post the Phuket Tsunami…always works…just depends upon the initial starting point.

ERW’s budget hotel unit, Hop Inn, will ramp up expansion in Thailand, Philippines  & JPN, target 15% CAGR over next 3 years, mulls listing on SET in 2027 to boost growth from current 57 properties in TH, 10 in Phhilipines & 4 in JPN.

Comment: And they’re going to take india next & IPO the Hop Inn entity.

ITD restructures its potash mining business (APPCH) via capital increase, raises $400m by issue 1.412b shares total Bt14.12b, ITD injects Bt5.69b and Chinese partner, SDIC Mining Investment co., injects Bt8.42b, aft completion of capital increase ITD will hold 50.10% & SDIC will own 49.9% in APPCH, aims to obtain project financing and capex required for develop of Udon South potash mine, operation know-how from SDIC.

Comment: This potash play has been here since I first started working in Thailand in 2004.

ITEL wins 700 km fiber optic project from Provincial Electricity Authority (PEA) valued at Bt59.44m.

SAMTEL wins maintenance contract for automatic meter reading (AMR) from Provincial Electricity Authority (PEA) valued at Bt670m.

SCCC raised holding in mining co., LANNA, to 61.44% from 44.99% prior to strengthen energy resources for cement production.

Comment: The restructuring in this group is interesting, perhaps more to do with Jardine M dumping multiple holdings throughout Asia.

FUTURERT: Future City Leasehold REIT, former Future Park Leasehold Property Fund, debut trade 473.32m units at Bt 10 apiece.

Comment: At one point in the Future it may make sense.