ThaiCapitalist Commentary
In an article from Bloomberg last week, it stated how the CIO of the SSO commented on his personal blog that the market was appearing cheap, and here are the two following quotes: Tourism and commerce companies in particular offer a bargain, Win Phromphaet, the head of investment at Social Security Office, wrote in his […]
Read More →AP AP expects 2015 net profit to mark a record high of Bt25.3bn. It targets presales of Bt28.3bn and already has Bt18bn. It expects to launch 15 new projects throughout the rest of the year, worth Bt24bn. (Khao Hoon, 27/07/15) Comment: Quite interesting that despite this economic malaise, AP is able to recognise revenue (the […]
Read More →Notable Transactions Buy(s) THB 101 mn BGH – Is he tired from buying BA? This purchase doesn’t quite make sense unless he sees something positive happening down the road. Sell(s) THB 66.8 mn IHL – The chairman/MD sells ~2% of total shares in this autoparts manufacturer, we wonder aloud who bought it?
Read More →Yesterday’s market performance notwithstanding, last week was another poor week for the market with effectively every sector in the market now negative for the year and only industrials/prop/service being positive for the year. Are things going to get better anytime soon? Well we’ve been writing the same thoughts for nearly 1.5 years, the market isn’t […]
Read More →BMCL BMCL expects 2016 to be a turnaround year after EXAT approved the merger with BECL, which will support growth. The company is going ahead with the Purple Line (Taopoon-Bangsue) (Thun Hoon, 24/07/15) Comment: The story for BMCL is its merger with BECL. BTS BTS is in talks with U for a joint real estate […]
Read More →Thailand PDMO to restructure the country’s debt – The Public Debt Management Office (PDMO) is planning to restructure the country’s debt after the BoT cut the policy rate to 1.5%. The plan is to convert ST loans made by the finance ministry to longer-term loans. (Daily News, 20/7/15) Fast-track budgets urged – The government has […]
Read More →ACD ACD targets 2015 revenue of Bt800mn with net profit backed by higher property transfers. It is talking to a prospective partner in China to invest in property development at tourist attractions in Thailand. (Khao Hoon, 23/07/15) AOT AOT expects bidding for Suvarnabhumi phase 2 be in February 2016. Total bids are valued at Bt43bn. […]
Read More →Last Friday, TUF announced it would issue 795m new shares for a US$400m capital increase to partly fund its acquisition of Bumble Bee (enterprise value of US$1,510m). The capital raising was to proceed through a preferential public offering to existing shareholders at a ratio of 6 existing shares for 1 new share at an offer price […]
Read More →BAY BAY revised down loan growth from 7-9% to 4-6% (excluding loans transferred from BTMU) in response to the slow economy. It reported 2Q15 earnings of Bt4.4bn (+25.9%YoY), 1H15 profit was Bt8.8bn. (Thun Hoon, 22/07/15) Comment: BAY is a special case within the financial sector with its new shareholder driving new loans from Japanese Corporates. […]
Read More →Our resident expert chartist has decided to contribute her thoughts on the recent market drop, she seems to think things may continue to decline…enjoy! I am digging for the possible downside of the SET index in this current decline. While this chart may look confusing to many, it is actually very simple. First, look at […]
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