DELTA teams up Nissan to provide EV home charging systems and after sales services for Nissan Leaf users.

Comment: Good for Nissan, sure; good for delta? I have my doubts

ITEL said Bt5.7b existing backlog to drive revenue growth by 30-40%, to boost domestic revenue and keep expanding oversea.

JUBILE sees growth momentum into 2Q on promo campaigns, keeps 5-8% revenue growth target and 5 new branches.

Comment: The discussion we’re having is 1) Is the Industry growing? No 2) Do Tourists buy it? No 3) So are they just squeezing profits from existing customers?

TK’s granted license to operate hire-purchase business in Myanmar, expects to launch motorbike hire-purchase in 3Q.

THANI anticipates record high profit this year from strong operation of new/used commercial vehicles hire-purchase, expects lower LLP 2H from improved assets quality, maintain Bt25b FY19 lending target, eyes Bt50b loan book by end of year.

Comment: Despite rather average economic activity in the past 3 years, this company has performed really well.

TIP target full year non-life insurance premium +5-6% yoy, signs partnership contract with Vietnam insurer, PVI Insurance Corp, to expand abroad.

Comment: I still think the entire insurance industry in Thailand is down in the dumps. 

TOP tones down 2H earnings from shrinking chemical price, will close cracking unit for maintenance shutdown in June.

  1. Entire petrochem and refinery sector is in a freefall, I have some exposure to Pttgc as a long term holding but have been through these cycles before, value will start to emerge when we start to see things bottoming out but maybe another 6-12 months.

    Stupidly chinese firms adding massive capacity after the 2016-17 boom days are now finding that capacity coming online into a supply glut.

      • Becuase I am not in the business of selling my stocks at stupidly low valuations. The profit is made on the way up, paring down my petrochem and refinery holdings when GRM north of 8usd per barrel in 17 and 18, never managed to sell at the very top though.

        I will admit it doesnt always work this way, sometimes we will get a Demco for example which has been a shit show now for a number of years, but on the whole, it pays to buy low and sell high even though human instinct and emotion counters this.

        • The difference I’ve noticed between the Thai petrochem and other regional players i.e. in Malaysia is that the volume growth/expansion has been executed better hence why it may work as a long term holding taking advantage of the cycles as you mentioned.

          Demco – well at least we know that the bases are finally going to be completed by july/august and then its done. Rumours have it a deal on KPN will be out of WEH by June. Then again who knows.

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