The latest changes from MSCI has been announced and for Thailand there is only 1 movement

Additions:         None 
Deletions:         None 


Additions:         None 
Deletions:         KTIS
So it looks like Charoen is going to use BJC to buy BIGC and with the latest announcement from BJC (link: and this is the paragraph that caught my eyes my “To approve the Company to secure a loan from a financial institution for a short-term financial source (no longer than 12 months) in the acquisition of BIGC ordinary shares and the making of a tender offer for BIGC total shares, as well as the shares of its related businesses as referred to in 1 above in the maximum amount of not exceeding Baht 220,000 million.” How ON EARTH will they secure that amount of financing within the next 1.5 months and to use BJC to purchase a company that is 3-4x BJC’s size! Expect a lot of shenanigans, rumours, news to come out over the coming few weeks. Oh and you can see the immediate reaction to BJC’s stock price post the announcement…oh and don’t forget if they finalise the deal by the 31st March they’ll still have to pay USD 600 mn…well we’ve seen crazy things recently with JAS…
bigc bjc

Analyst Recommendations
Given that we receive anywhere between 5-100 analyst research reports a day, the brain is still continuously confused by recommendations provided. We are blasted with ideas constantly, updates on companies, new forecasts and in the end it should boil down to a simple buy or sell. But the clever people in the industry have decided to complicate the matter further. We are presented with options to Buy…sell…hold…fully valued….accumulate. Wait a minute..what’s the difference between all of these? And to make it even more confusing you will see in their footnotes different definitions for buys (upside anywhere between 10-20%) but why are there differences for items such as sell, hold, fully valued? So we’ve decided to come up with our own definitions for each recommendation.
  • Buy – Management actually talks to us and does business with our firm! There should be upside, and we’ll find any valuation methodology possible to keep the upside potential there and ensure we have business with them!
  • Accumulate – The company’s dealings with us has declined slightly but we will try our best to maintain a relationship and hey there may still be some upside left in the stock!
  • Hold – Well it has hit our target price but we aren’t sure if we’re right or not, so lets just say hold for now
  • Fully Valued – Well this makes us sound clever instead of just a “Hold” but we aren’t going to tell you what to do
  1. On a side note, it is interesting that WEHs main shareholder has come out and said the IPO will be postponed again until 2017. Can’t really blame them given the general sentiment in the market at the moment. Negative sentiment in the near term for Demco I would think.

    • Noticed that as well last week, re demco we all know 1Q16 earnings will be weak and only by the time 2Q #’s are out will investors be convinced that things are returning to normal.

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