BBL: 1Q net profit @ Bt12.61b +19.8% y/y, beat Bt11.35b consensus, better than expected non-NII & lower than expected LLP able off set sluggish loan and soft NIM at 2.89% vs 3.06% y/y due to rate cut impact & effort to restructure debts with interest haircut after NPLs repeatedly relapsed.

Comment: Oh – the banks are making bank, no surprises…been the main game in town for the past 12 months, will continue to be for the foreseeable future..

MTC: reaffirms solid1H from healthy demand for credit, keeps FY loan growth target at 10-15%, NPL within 2.7%, adding more branches upcountry to expand coverage.

Comment: Now the main question mark for MTC is cost of financing, because they continue on their growth path they’re continually looking for additional sources of capital and now they’re paying mid-high single digits.

PROEN: board approved disposal of 30% of Seashore Data Centre and Cloud Services to Magma Holding with value not less than Bt290m.

Comment: Hmmmmmmm

SVI: forms 75:25 JV with China Circuit Technology Corporation (CCTC) to invest in manufacturing facility of multi-layer PCB & HDI PCB at Bangkadi Industrial Park valued at Bt3.88b.

Comment: Poe is a beast.

BOT is already submitted the approved virtual bank applicants to Finance Ministry, will announce winners on Jun 19. Industry rumours suggest GULF, SCB & Ascend Money were approved by central bank, with their names submitted to ministry for final consideration, Bangkok post.

Comment: Oh this story again…a virtual bank…run by the main banks and the crony capital play that is GULF.

RJH: local fund, BBLAM, cuts holding by 0.0401% to 4.9989% on Apr 11.
DPAINT: local fund, BBLAM, cuts holding by 0.1086% to 4.9849% on Apr 11.

Comment: Remember what I said about BBLAM?