AP target 11 new launch total Bt16.24b in 2Q (1 SDH Bt3.4b, 8 townhome Bt7.24B & 2 condos Bt5.6b), sees 4M22 sales topped Bt16.15b (Bt13.52b horizontal & Bt2.62 vertical), Bt31.93b backlog assures earnings visibility, firms on Bt47b full year revenue target. Comment: I do wonder if all the increases in commodity prices, will the construction […]

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ADVANC’s expressed opposition to the planned merger of its rivals TRUE and DTAC during the hearing organized by the NBTC, saying the deal wud diminish the price war and free competition in the segment. Comment: Well would they publicly support it? DCC sees flat qoq in 2Q22, firm on 5% revenue growth target this year […]

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BBL’s firm on 4-6% loan growth target, sees lower LLP at Bt26b vs Bt34b yoy, mulls JV to set up an AMC to manager bad debt. Comment: Read between the lines “THERE IS A STUPID AMOUNT OF BAD DEBT” GFPT reaffirms solid earnings from strong poultry orders from EU to replace supply from Ukraine and […]

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This is an odd situation for Thailand and the ASEAN region. On the bear side we have the increasing financial costs through rate hikes, (10 yr thai gov yield has gone from 2 to 3% this year), higher energy costs across the board, the lockdowns in parts of China and the US and the EU […]

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Notable Transactions It’s been and will continue to be a quiet period for management transactions until all 1Q22 earnings are out. Buy(s) THB 80 mn THG – This director sees value after the pump and dump Sell(s) THB 10 mn N/a

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Japan vows aid after PMs meet: B13bn package to bolster recovery. Prime Minister Prayut Chan-ocha and his Japanese counterpart Fumio Kishida met to bolster defence and economic cooperation and discuss the war in Ukraine yesterday. Bangkok Post BoT loan schemes hit B300bn over 2 years: Listed banks report stagnant growth. Loan extension under the Bank […]

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PTTEP: reaffirms solid turnaround after hit by hedging loss in 1Q, sees higher average sales volume in 2Q at 467k boed vs 427k in 1Q, expects gas selling price peak in 4Q on renewal of gas purchase agreement in several projects. Comment: Even my grandmother can trade oil better than this pttep team. At least […]

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BIS: veterinary medicines & med devices distributor, Bioscience Animal Health, debut IPO 94m shares @ Bt6 apiece, Maybank leads. Comment: An interesting business model and industry. But more importantly small name big first day POP GUNKUL: in talk several developer partners to sell & install EV charging station in condos & residential compound, more turnkey […]

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Compilation of the past week notes GDT VNGDT spent USD3mn to acquire Duc Tam Wood Manufacturing and Exporting Ltd., a wooden furniture manufacturer in Dong Nai Province. Comment: That’s a sizeable acquisition for this firm, rev ~USD 15 mn p.a. LPB VN2022 targets include credit growth of 18.0%, funding growth of 18.5%, pure NFI growth […]

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Now the SET is only +0.1% for the year and if you take into account the currency drop versus the USD, its rubbish. Banks earnings are out, basically better than what most expected. And I’m still on my commodity rampage, just think about it, China is still locking down Shanghai, a semi-lockdown of Beijing, ASEAN […]

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