Retail bondholders of ACAP have petitioned the police and the SEC to expedite the recovery of unpaid debts that have remained unresolved for over five years, seeking to restore investor confidence in the market.

Comment: Get ‘em boys, but you’re not getting anything b/c it was unsecured debt….know what you’re buying..

BANPU’s natural gas unit, BKV Corp, completed the acquisition of Bedrock Production LLC for USD 370 million, boosting production capacity by 108 million cubic feet per day (63% natural gas, 37% NGL) and reserves by 0.8 trillion cubic feet. The deal also provides opportunities for further exploration in the Barnett field in Texas, and the company will recognize revenue immediately from the U.S. wholesale electricity market.

CPAXT is moving forward with its retail community strategy, planning to launch the “Happitat” project in April 2026. The development will cover a total area of 200,000 square meters with an estimated project value of THB 15 billion. Management targets an occupancy rate of 85% and expects annual foot traffic of no less than 19 million visitors.

Comment: The hole in their b/s from this will be amazeballs.

EGCO completed the acquisition of the 125 MW Wheatborough Solar project in Ohio, which will generate revenue from the wholesale electricity market across 13 U.S. states and the District of Columbia.

IVL continues to emphasize sustainable value creation, showcasing its latest innovations and long-term strategies across six pillars at the “Sustainability Expo 2025.” The company also sold its Irish subsidiary, Wellman, to UG World. The transaction is not expected to have a material impact, as any impairment had already been recognized in 2024.

Comment: I want to buy and buy and buy this name, but I don’t want to see this sustainability bs.

NOBLE is pursuing an asset-light strategy, leveraging its joint venture with STECON for the “New Epic Asoke-Rama 9” project to secure long-term revenue and profit growth.

Comment: Asset light means for real estate? So they’re just building a box in the sky?

OR reported the dissolution of its 60:40 joint venture with CENTEL in Vietnam, ORC Coffee Passion Group, due to a highly competitive market environment.

Comment: Expanding to Vietnam with a coffee chain, WAS THE STUPIDEST IDEA by the OR management. At least they’ve accepted it. 

SC is entering the Phuket property market for the first time, partnering with local developer Boat Pattana to develop the super-luxury villa project “C Theater Rawai,” valued at THB 700 million. This marks the start of a longer-term collaboration, with a three-year investment pipeline totaling THB 8 billion for future projects in the region.

Comment: The amount of oversupply hitting the resi market in Phuket this year and next is astounding, hello AI…

Summary Table

Year	Condo Supply (units/yr)	Villa Projects (units/yr)	Market Character
2019	~4,000–5,000	~40–50	Balanced, moderate launch
2024–2025	>12,000	>1,285 in H1 2024, >170 projects active	Rapid, risk of oversupply

STECON is confident of achieving revenue of THB 32 billion in 2025, representing 5–10% growth, supported by a backlog exceeding THB 100 billion. The company is diversifying into data centers, energy, and property, targeting new businesses to contribute approximately 50% of profits by 2030. As part of its expansion into real estate, STECON is partnering with NOBLE Development on the “New Epic Asoke-Rama 9” condo project, valued at THB 4.4 billion.

TU aims to raise 100% of its funding through Blue Finance by 2030, up from the current 75%, reflecting strong investor confidence with bond subscriptions oversubscribed 3.68 times. The company reaffirmed its strong partnership with Mitsubishi, dismissing any concerns about the relationship.

TURBO has outlined four strategic initiatives following its IPO, focusing on expanding its loan portfolio, utilizing AI, developing new financial products, and growing its branch network to 1,457 locations nationwide by 2029. The company made a strong debut in the stock market, opening at THB 2.30, a 53% premium over its IPO price of THB 1.50, and closing the day at THB 1.89, up 26%.

ThaiBev is preparing to manage spending and control costs under the new government policies. The group has earmarked an investment budget of THB 9 billion for 2025–26, with a particular focus on its non-alcohol segment to support sustainable long-term growth under its PASSION 2030 strategy.