Research on Thai Markets in general and the SET Index
With the changes by the BOT regarding dividends I wouldn’t be surprised to see Banks moving over the coming months. Commodities are still rocking and rolling, though on why on earth PTTEP doesn’t move confounds me. Reopening theme (hotels, retailers etc etc) still in play, same playbook, if there’s no 4th/5th/6th wave it will continue. […]
Read More →FTSE raised Thai weighting by 0.01% to 0.59%, effective Friday June 18. FTSE All World: Adds: OR and SCGP; Increase in weighting: CBG; Cuts: BBL-R, PTT, SCC, CPALL, AOT, SCB, KBANK/F. FTSE Small Cap: Adds: KEX. FTSE Micro: Adds: JR, NEX, NRF, RT, SA, SO. No deletions.
Read More →Commodities still going – agri prices higher than pre-wuflu, oil prices higher than pre-wuflu, coal higher than pre-wuflu. Reopening theme is back in motion – Last year we were tracking “cases” and this year everyone is tracking “vaccinations”. Should hotels/retailers/spa’s etc be valued here? Sure, why not +20%? Their competition is gone, they own the […]
Read More →It’s going to be an interesting period. Reopening themes will return stronger Commodities may still continue their run Bad debt is going through the roof, this latest wave was a proper nail in the coffin to the last standing few, that haven’t adjusted their business models. Anyone else notice the strong performance of the MAI […]
Read More →Emergency extended; curbs until end of July: The state of emergency has been extended for another two months to bring the current Covid-19 outbreak under control, according to the Centre for Covid-19 Situation Administration. Bangkok Post Testing the stagflation waters: A combination of sluggish economic growth, relatively high unemployment and a worrying inflation figure may […]
Read More →And here you go: SET earnings +130% YoY, +47% QoQ MAI +351% YoY, +49% QoQ Quick comments: I could be an idiot and value the SET and MAI on a PEG basis, but let’s leave that to the sell-side analysts. Look at Energy & utilities + petro 38% of the SET’s earnings, turned around from […]
Read More →From a Head of Research friend “Earnings: 1Q season is over and on aggregate it was up 28% and c.30% of our forecast. We run a preview on most our and on aggregate the actual earnings were 15.5% higher than expectation. This means upgrades…” Watch for the upgrades, why? The fortune cookie vaccine and AZ […]
Read More →Government’s Mor Prom (“Doctors Ready”) platform can’t accept any more bookings for vaccinations in June, as all available slots have been allocated. BOT rollouts remedy package for retail clients, credit card & consumer credits borrowers, to stretch payment terms and/or cut interests, mortgage borrowers can petition for holiday payment on principal, pay interest only, HP […]
Read More →Wuflu, curry flu, churrascaria flu, spotted dick flu are all over the news in Thailand at the moment. Seeing the same policy mistakes made again and again just flummoxes my mind. But alas it makes it easy to repeat the same play book. All earnings are out by now, I’ll put a summary out later […]
Read More →Phuket to reopen as planned: The government still intends to press ahead with its plan to reopen Phuket to foreign tourists on July 1, despite battling another surge of Covid-19 infections. Bangkok Post New aid measures to bump spending: Government expects six new schemes to help generate B400bn. The government’s new relief packages are expected […]
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