GULF: signed a 25-year PPA with Electricity Authority (EGAT) for the development of 59mw solar farms, scheduled cod in 2026.

Comment: Is someone going to start asking the question “how is gulf going to fund all these projects given their balance sheet?”

MTC: anticipate 2Q turnaround as credit demand accelerate ahead of school term start, keeps 20% FY loan growth target.

Comment: They’ll continue to surprise everyone (myself included)

PSL: 1Qnp came aft close at Bt409m +420% yoy, beat Bt251m consensus, thanks to higher fleet’s earnings per day per ship at $12,433 vs $10,022 in 1Q23, Bt20m FX gains & Bt51m gains on disposal of 1 vessel.

STEC: maintains Bt30b FY rev target supported by Bt68.6b backlog pending to realize, expects to secure Bt40-50b of new contract from Bt19.4b Chatuchote-Lam Luk Ka expressway & Khon Kaen-Nong Khai double track railway worth Bt29.4b auction this year.

Comment: Even this POS corrupt donkey poop of a company can’t make a profit.

TRUE: 1Qnp due today, estimate net loss narrow to Bt-380m, according to consensus.