ADVANC: 3Qnp at Bt8.14b, +35% yoy, beats Bt7.36b consensus, strong SIM & devices sales, improved service revenue from broadband, larger 5G subscribers at 8.5m (eo-3Q) +54% yoy, lower depreciation & SG&A boost earnings.

Comment: Less comp, reopening, low base comp, simple story

AOT: Lufthansa redeploys A380 on direct service between Munich and Bangkok (SIA), the first destination in APAC market to see the return of flagship aircraft.

BJC sees solid 4Q on seasonal, especially 25 branches in tourist towns, to list BRC next year, sets Bt1b capex to develop service innovation.

CPAXT: CPF Global Food Solution (CPFGS) debut premium seafood retailer under venture with JPN partner Uoriki, 2 branches opened at Lotus Sukhumvit 50 & Makro Srinakarin, target 2 more by end of year, 20 stores by end of FY24.

Comment: So it’s either cheap chinese agri or expensive japanese options at lotussss and makro?

EA said its diminishing cash-flows in 2Q was merely related to its higher investment from higher EV sales, sees >Bt1b positive cashflows in 3Q, with >Bt6b cash on hand.

Comment: No, their Taiwanese play isn’t going anywhere, those boats are useless, it has zero competitive advantage against the Chinese players, the adders on the windfarms are gone soon, it’s going back down to 20.

NAM: med equipment manufacturer, distributor of cleaning, disinfection & sterilization tools for med equipment, Namwiwat Medical Corp, debut IPO 181m shares at Bt7.7 apiece, Finania lead.

Comment: Another flop….

TRUE will raise as much as Bt23b in public sales of new bonds to pay for use of wireless spectrum and settle some due debt.

Comment: Other than local insti’s I don’t know why anyone w/ access to USD fixed deposits/bonds would buy this. (unless you think there’s a currency play), note highest yield is 4.x% for 10 years.

  1. peter satrapa-binder

    @ NAM IPO -> flop: i’d guess that in the current climate at the thai stock exchange nearly every IPO would be a flop.

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