CP Group, major holder of CPALL, was approached by Seven & I founder family to join in management buyout of 7-11 convenience store chain to fend off a $47b takeover from Canada’s Alimentation Couche-Tard. Itochu & Apollo Global Management are among potential partners the family has reportedly sounded out.

Comment: This is amusing. Some believe that they’ll have to put in a little bit to maintain the relationship…but this is CP group….

ERW sees 4Q24 OCC & RevPar at hotels in TH & JPN back to pre-covid level, Grand Hyatt Erawan (GHE) facelift to be partially done at a time to mitigate impact, tailwind from mid-end Holiday Inn Pattaya & 13 Hop-Inn budget hotels in TH, JPN & Philippine bolster earnings.

Comment: Their hop-Inns are cleaning up the budget space.

PTTEP reported Bt78.82b, +2.8% yoy, vs Bt77.1b estimate, its 4Q came in at Bt18.3b, pays Bt5.125, XD Feb 25, after paid Bt4.5 in 1H.

SAWAD: Fitch assign first-time credit rating at A-(tha), stable outlook.

Comment: Should be B

STECON reports cod-ed tap water distribution to Lat Krabang Industrial Estate, will realize revenue from 1Q.

Comment: Anutin wins.

STI wins highway upgrade project for National Road 67 (NR67) Siem Reap-Anlong Veng-Choam frm Cambodia Ministry of Public Works & Transport total Bt983m.

Comment: Charoen wins (yes he’s the major shareholder here…)

TOP announces planned maintain shut down for 2025, will shut crude distillation unit 3 (CDU-3) in Jul for 30 days; hydrocracking unit, aromatic production unit, lube base oil production unit and linear alkyl benzene production unit will be shut for 45 days from Jul to mid-Aug.

Comment: Usual maintenance…at the end of the day everyone is just waiting to see how they’ll pay for the expansion plan.