Stocks in the news (aav, ea, ichi, itthi, spali) 27.04.26
Asia Aviation Public Company Limited is the holding company for Thai AirAsia, a leading low-fare airline providing passenger air transportation and ancillary services across domestic and international routes from its base in Thailand.
AAV further adjusted its flight schedule, suspending several routes/reducing services due to higher fuel costs. The price of Jet A-1 fuel has increased 2-3x from around $80/bbl exceeding $140/bbl. Fuel normally accounted for about 30% of the cost per flight. Previous cancellations will remain in place. Among major routes cancelled:
- Don Mueang – SG: Previously operated 2x daily. Suspended 12May-30Jun.
- Don Mueang – HK: Previously operated 1x daily. Suspended 11May30Jun.
- Don Mueang – KL: Previously operated 1x daily. Suspended 29Apr-24Oct.
Comment: Here’s what the energy industry in Thailand is saying “we have an excess supply of jet fuel, all our tanks are fuel, because the government banned the exporting of jet fuel”
Energy Absolute Public Company Limited manufactures biodiesel, palm oil, and glycerol while operating renewable power plants, battery production, electric vehicles, and nationwide EV charging infrastructure across Thailand.
EA: Tris Rating has revised its credit outlook to stable, eliminating liquidity problems and boosting confidence. The mgmt. outlines plan for potential overseas bond issuance to support growth, and accelerates the commercial EV business, expanding into a full range of vehicles driven by surging demand from rising oil prices. The mgmt. also expects solid 2Q26 results and is confident of a truly outstanding year.
Comment: “A truly outstanding year where we don’t default anymore”
Ichitan Group Public Company Limited manufactures and sells ready-to-drink tea beverages, herbal drinks, and juice drinks in Thailand and selected international markets.
ICHI: the mgmt. has officially approved a dividend payment of 0.55 THB per share for the 2H25, scheduled for payment on May 21, 2026. This final installment brings the total annual dividend to 1.10 baht per share, reflecting the company’s consistent ability to deliver shareholder value.
Comment: No news about the hot weather? Now I’m waiting to read about how El Nino will drive cold drink salesÂ
Itthirit Nice Corporation Public Company Limited engages in the trading and installation of household electrical and electronic appliances throughout Thailand.
ITTHI: aims to cod 10 EV charging points by eo-1H, t/g 30 by eoy, in-talks client to secure EPC contract for10 charging points, expects to wrap before eo-Jun.
Comment: EV’s make sense if fully automated driving is the future…just to maintain my soul, I had to rewatch Gone in 60 seconds to enjoy seeing cars be driven properly. Now this stock looks “cheap” little debt, lots of cash..let’s see what happens. Could it become a pure EV charger play? If so the figures are easy to calculate..
Supalai Public Company Limited is a leading property developer engaged in residential condominiums, detached houses, townhomes, and commercial real estate projects across Thailand and select overseas markets.
SPALI: sees 1Q residential sales +15% yoy to Bt 7.69b, m/t FY launch plan 28 pj combined worth Bt 35b, Bt 14b backlog ensure earnings visibility, transfer to accelerate in 2 & 3Q on completion of several pj.
CP Group’s digital service provider and e-commerce operator, Ascend Commerce, signed partnership agreement w/ NTT Docomo Global to expand data-driven marketing services to support growth of e-commerce platform, enable co., to better understand consumer behavior & develop more effective strategies.
Summary Table
| Metric | AAV | EA | ICHI | ITTHI | SPALI |
|---|---|---|---|---|---|
| Market Cap (THB) | 14.13B | 19.9B | 16B | 0.33B | 31.5B |
| Current Price (THB) | 1.10 | 2.68 | 12.30 | 1.23 | 16.70 |
| P/E Ratio (TTM) | 6.05 | n.m. | 12.06 | 11.6 | 7.99 |
| P/BV | 1.04x | 0.60x | 2.83x | 1.5x | 0.59x |
| Dividend Yield | 0% | 0% | 8.9% | 8.3% | 8.4% |
| YTD 2026 Performance | -1.8% | -0.7% | -8.2% | -3.9% | -1.8% |
| Avg Daily Value (THB) | 150M-200M | 150M-200M | 80M-100M | 5M-10M | 80M-100M |
Data sourced from SET and reliable financial platforms. Market cap converted at THB 32.5 per USD. YTD calculated from 30 Dec 2025 close to 24 Apr 2026 close.
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