ANAN 2Q17 earnings grew 33%, reaching Bt279mn. ANAN will pay an interim dividend of Bt0.06/share. Market consensus expects 2H17 earnings to continue to expand. (Thun Hoon, 09/08/17) CPF CPF’s 868.3mn newly-issued shares will begin trading today. These shares were issued as a rights offering (5 old :1 new) to existing shareholders for Bt25/share, giving CPF […]

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And its game time! Thai Beverage has just bought ~240 KFC stores from Yum Brands, which means they immediately surpass the 200 stores that are run by Central Group. Quick thoughts: THBEV is desperate for growth and they’ve been doing a decent job at leveraging their balance sheet to do so as seen with the […]

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ANAN ANAN posted 2Q17 earnings of Bt279.46mn, +33.22%YoY with a 29.9% growth in revenue to Bt3.75bn. Its board approves a dividend of Bt0.06/share, XD on August 18. (Khao Hoon, 8/8/17) Comment: 1/3 above consensus and yet the price doesn’t move.   BIG BIG says 2H17 earnings will be better than expected, driven by store expansion. It believes […]

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BEM BEM believes it will win its bid to manage commercial area, beginning next year, for the Purple Line stations at Bang Yai – Tao Poon. The beginning of its operation for one additional connecting station on August 11 should boost ridership. (Kao Hoon, 7/8/2017) Comment: Basically yes, at least the government/BMA finally decided to […]

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Notable Transactions Buy(s) THB 88.5 mn PACE – Despite the one of the founders buying a stake, I’m still of the viewpoint that PACE is effectively bankrupt, unless they have new equity injection. Sell(s) THB 48.7 mn BAT-3K – The sale by major stakeholders to new shareholders

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Don’t know what to do today? Stop everything and just read this latest memo from Howard Marks The basic proposition is simple: Investors make the most and the safest money when they do things other people don’t want to do.  But when investors are unworried and glad to make risky investments (or worried but investing […]

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Revenue Department will propose sugar tax regulation to cabinet in August, to take effect on September 16. Producers will be given a two-year grace period. (Khao Hoon, 31/7/17) Credit Card business association says three-lender system very damaging. The Credit Card Business Association said that the BoT’s policies to curb credit cards and personal loans will […]

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ITEL ITEL won high-speed internet projects for 3920 villages worth Bt1.8bn. It expects to book some portion of revenue this year. (Khao Hoon, 3/8/17) SCCC SCCC board approved dividend of Bt6 per share with XD on August 17. The total dividend payment is Bt1.79bn. Though 2Q17 earnings were only Bt796mn, it believes the country’s cement […]

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A potential sudden increase in bond yields have been on my mind for a long time, and if you’ve been reading Bill Gross’s monthly commentary’s for the past few years it’s been the only topic on his mind as well. I can quite easily picture a scenario where yields in the US go up higher […]

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