ADVANC: completed acquisition of Triple T Broadband (TTTBB), also completed purchase of invest units in JASIF which now own 19% stake in the fund. The settlement value of transaction adjusted to Bt 28.37b from 32.42b, according to filing.
AMATA: completed entire business transfer related to utilities & service biz for industrial estates to AMATA U, IPO submission to proceed in 2Q24.
Comment: Clever, the utilities business has grown to a point where the cashflows are rather fantastic. And groups such as AMATA are becoming power providers to their customers with their own power plants.
JKN: 5 directors resigned following restructuring filing, 3 resigned due to personal matters & 2 resigned as both were not invited to attend the board meeting on November 7 when the company decided to submit a petition for biz rehab with central bankruptcy court.
Comment: Clever, they are going to avoid any legal issues by resigning. The rehab process first needs to be accepted by a Thai court for hearing, then a hearing date is set, the argument is made by the Board’s rehab team and countered by anyone that doesn’t like the rehab plan. Could be another year before it actually enters into rehab.
KTC: anticipates card spending momentum remain positive 1H24 driven by shopping tax rebate stimulus (e-refund), mulls expand auto loan portfolio to balance revenue mix, eyes 15% loan growth next year.
Comment: This shopping rebate is a quarter late, 4Q figures in TH will disappoint.
GULF: venture co., with Binance recovered regulator’s approval will start operation digital asset business early 2024.
Comment: Thailand is trying their best to become a money laundering center via their privatised government vehicle GULF.
SUPER: 30mw windfarm project in Vietnam & 12mw solar project on track to cod in December, lifts total to 1,707mw, firm on 10% FY revenue growth target.