ADVANC: 4Q21 NP of Bt6,863m, -4.2% yoy, +7.7% qoq, topped Bt6,628m consensus, yoy drop was mainly due to a higher cost of service ex. IC of Bt21.7bn (+6% yoy, +1.1% qoq) from an amortization of 700MHz and 2.6GHz spectrum licenses acquired in 2021. Sets FY22 capex within Bt30-35b, target mid-single digit growth for services revenue, low-single digit for EBITDA, pays Bt4.24 dps, XD Feb 18.

Comment: Divy up! ARPU down. GULF needs that $$$ from ADVANC=>INTUCH=>GULF to do every national security project possible.

BKI reassures financial viability to cope with Covid claims, 200% CAR & Bt31.7b capital can tackle with rapid Omicron spreads.

BTS: Ministry of Interior put Green line concession extension on cabinet agenda today.

Comment: And the extension will probably go through and which one of the BTS group companies is going to benefit the most?

Thai NVDR issued a statement saying that it now holds 23.23% of BBL (BBL-R) vs 25% cap. Just need to keep an eye on NVDR flows, as it may lead to buying of BBL-R being suspended again if the holding keep edging toward the 25% cap.

Comment: The usual issue with the BBL stock.

CCP target FY22 revenue >Bt2.6b , GPM within 10-13% range, Bt1.8b outstanding backlog to realize till mid-FY23, expects demand for concrete & building material jumps on infra expansion, mulls bidding for Laemchabang & Map-Ta-put deep-sea port expansion, hi-speed rail projects this year.

GLOBAL target double digits revenue growth supported by positive SSSG, Indonesia expansion via Caturkarda Depo Bangunan (CKDB) home improvement stores, mulls tapping in Vietnam market.

Horizon Plus, a JV between PTT and Foxconn, to build a plant on 350 rai of land in EEC for a full cycle EV productions, target completion and launch in 2024.

Comment: I still find this EV industry to be rather noisy, b/c at the end of the day….the entire electrical grid has to be upgraded in order to sustain EVs…But I’m happy to see nickel/copper/gold mining co’s perform well.

SRICHA upbeats FY22 earnings from Bt2.3b steel module backlog pending to realize, planning to bid Oil & Gas projects & chemical complex total Bt10b, reaffirms record high profit this year.

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