BCPG pays Bt5.3b for 69MW Hydro PP Nam San 3A in Laos.

Court scraps order for Bt600m compensation payment from EXAT, to BEM.

Comment: But they still won Billions regardless

Transport Min to decide whether to allow CP Group more time to negotiate terms on high-speed train pj linking 3 airports, or call up an alternate for talk, which is BTS.

Comment: I’ve noticed a shift away from CP group with this “elected” government

FPT announced voluntary tender offer of ppty developer unit, GOLD, at Bt8.55 apiece, vs Bt8.4 closing prx.

KBANK mulls moving excess provision to cover for some individual large corps to reduce risk by eoy, sees fee income growth contraction of 5-7%.

Comment: All the banks are going to be facing this issue.

KCE anticipates recovery PCB sales on surging demand for EV&Hybrid vehicle from new EU carbon emission restriction requirement effective FY20.

Comment: It’s a replacement, not a new growth market. Then again I’m not an engineer so perhaps there is a massive increase in the amount of PCB’s for EV and Hybrid vehicles.

MAJOR reports 2mth tix sales (Jul-Aug) +50% yoy driven by Spider-Man: Far From Home, Lion King, Fast & Furious: Hobbs & Shaw, upbeat 4Q earnings on seasonal and boost from line up including Star War, Matrix, Jumanji and Charlie’s Angel.

Comment: They should have fantastic numbers and I think the dividend yield should maintain ~6-7%

Food chain restaurants, CENTEL, M, MINT, ZEN vulnerable to shink SSSG 3Q from fast growing food delivering services, Prachachart news.

Comment: I disagree with this comment. I think that several of these players have benefited from food delivery services, ZEN themselves said that 15-20% of their business comes from delivery. Now with the Food industry one thought I’ve had is that, specifically in Thailand, 20 years ago ones main option in the shopping centers was american fast food. Then the italian trend came, followed by the Japanese trend. Now you see that Thai restaurants are far more vibrant in the shopping centers. So to see that MINT’s F&B business is struggling isn’t a surprise to me, CENTEL has effectively never had positive SSSG but focused instead on network expansion. M is tied is effectively tied to the popularity of MK Suki and ZEN I think is making the right moves. Maybe this requires a “proper” random thought.

STPI received US$23.6m arbitration payment from foreign counterparty.

THCOM inks deal Russian Satellite Communications to jointly develop maritime satellite BB service.

TPIPP m/t Bt10b FY19 rev t/g +25% yoy driven by higher utilization rate of 180mw waste pp, upbeat FY20 earnings from absence of major m/t shutdown aft installing additional boilers to ensure continuity of operation.

Comment: But the share price is down because management says that there is apparently an opportunity for a massive investment that may require them to cut their dividend. Which is a bit odd given

  1. Could it be connected with the August 2nd 2019 verdict in the Civil Courts of the Black Case SV 5/2559 against TPIPL in the sum of 1.7 Billion Baht+ for illegal mining of limestone in an area not allowed by the Dept of Mines. They are appealing but this is a tidy sum if their appeal is rejected.

  2. peter satrapa-binder

    @ TPIPP: yesterday they confirmed that the dividend will stay at least the same as last year and also their financial result published yesterday looked quite good. now they have a very nice valuation I’d say:)…

    • We were talking about this former holding yesterday, and were wondering why it’s so cheap “again”
      The issue for TPIPP has been 1) A few months ago they mentioned a potential cut in dividends because of a potential big new investment 2) Institutions here rate the corp governance of TPIPP lowly 3) Good results were already expected 4) Management mentioned that they won’t maintain the 100% dividend payout which caps the upside
      so 1+2+3+4 = reasons why it declined and perhaps won’t reach its “fair value” but yes the divvy is great at this price, just be wary.

      • peter satrapa-binder

        thx for your reply, pon. well, maybe it won’t reach the thb 6-7 stock price level any time soon again, but it’s definitely looking good right now…

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