COM7 sets 15% revenue growth target this year, 200 new branches, expanding retail business and pet shops, starting in March with 10-20 branches p.a.

ERW sees 80% rise in bookings, with booming tourism and domestic travel subsidy to boost revenue growth this year to 45% with >40% OCC growth to 75-80%, sets Bt1.6b capex for 18 Hop-Ins.

Comment: Pricing in 2025 earnings, but has performed as I thought, big boys gobbling up the market share.

III sees windfall from # of flights getting back to 74% from 2022 at 44%, forecast 99% next year, boosting goods and container transports and 15-20% revenue growth target this year.

Comment: Great figures from III, but the figures appear convoluted when you first have a look, worth a deeper dive.

MTC sets 20% loan port growth target, 600 more branches and 2 more auction yards in the South and N-Eastern.

Comment: Their figures are falling apart and the market still hasn’t realised this. They’ve been pumping loans to their existing customer base, just rolling over, re-issuing debt and now it’s starting to show.

TASCO sets 10% asphalt sale growth this year to 1.3m tons, sets Bt1b capex to add vessels.

Comment: Stable top line, but it’s a margin game here, they need oil prices to crash and then you’ll see a beautiful jump.

TFG sets Bt3-3.5b capex to expand poultry, swine farms, and retail business in Vietnam, and domestic Thai Food Fresh Market shops to 400 by end of year, 15% revenue growth overall.

Comment: CP has a strong foothold in VN, Japfa has been there for decades, plus you have a bevy of local players, not sure how they are going to successfully do a retail business there.