BEM: strike deal w/ expressway authority (EXAT) to invest in 17km 4-lane double-decker highway worth Bt 35b in exchange of concession extension for expressway stage 1 & 2 for 22 year & 5 month, will sign contract this year.

Comment: Great for BEM…Thailand could of course simply take these concessions back…what’s the risk..the asset isn’t going to disappear. If you’re active in the Thai market, just look for the big boys – they’re going to keep snapping up any government concession there is.

CPW: anticipates 4Q turnaround supported by AI related products, demand for IT & gadgets on holiday season, new iPhone, watches & AirPods products launch via Apple showcase event on Sept 10 is expected to revive mkt.

Comment: Is it that time of the year?

IMPACT: upbeat outlook from healthy demand for space at conventional center, especially in the incentive group +58% yoy in 2H24 while concerts +40% yoy, expects FY earnings return to growth comparable to pre-Covid level.

Comment: Thailand is the entertainment destination of the region. No one flies to anywhere else in the region for concerts.