GULF: INTUCH amalgamation deal to complete early 2Q25, sets Bt70b capex plan over next 5 years on new power project that already won license for construction as well as M&A on overseas power & natural gas project, new data center & private cloud solution (Google Distributed Cloud air-gapped) on track to cod in Apr 2025 will fuel earnings growth.

Comment: THB 90 bn in capex is what we were told on Friday. I used to think that they were broke and unable to fund anything, but after sitting down and going through the #s seeing that their equity base will go from THB 100 bn to THB 300 bn post almagation = more debt to borrow and fund everything…

BCPG to acquire 2 wind farms project in Vietnam combined 99mw comprises of 49.5mw Che Bien Tay Nguyen (CBTN) & 49.5mw Phat Trien Mien Nui (PTMN) from EP Group (HK) for VND 3.394b (Bt4.508m), 90% stake to transfer within 1Q25 & remaining 10% within 2 years from the 1st shares transfer completion date.

Comment: WHAT? This is nuts………EVN is broke…(Vietnam’s version of EGAT), let’s see how this project turns out…

PTG maintains 10-15% fuel sales volume growth target supported by Max card loyalty program, harvest season in 2H, surge demand for fuel on holiday season, expects non-oil revenue growth >40-50% yoy lead by expansion of Pan Thai café.

Comment: I’m just waiting for oil prices to come down…

Hospital tycoon Boon Vanasin, founder of THG who lured some Bt7.5b of investments in fake medical projects, has fled to China, prompting the police to issue a warrant for his arrest.

Comment: WTF!