ADVICE: IT retailers & wholesalers, Advice IT Infinite, debut IPO 170m shares at Bt 3.24, Asia Plus leads.
Comment: “Cheaper” IPO pricing is back to the smaller players and boom pump
ASAP: anticipates short-term car rental accelerate aft TH-China free visa scheme become effective Mar 1.
Comment: Makes sense…and it’s coming off a low base.
MINT: 3 4-stars hotels under NH brand in Paris including NH Paris Gare de l’Est, NH Opera Paris Faubourg & NH Paris Beauchamps Champs-Elysees combined 400 guestrooms on track to cod by end of 1Q, expects strong OCC at hotels in Europe throughout the year supported by UEFA Euro 2024 in German from Jun 14-Jul 14 & Paris Olympic Jul 26 till Aug 11.
Comment: Europe is becoming Asia – a holiday destination for the rest of the world as there isn’t much a growing economy
PTTEP: 4Q net profit at Bt 18b, topped Bt 16.57b estimate, FY at Bt 76.71b +8% yoy, topped Bt 75.31b consensus, , thanks lower losses from oil price hedging & impairment charges, expects 1H24 oil price stable at US$ 70-80/bbl, estimate average FY Oil&Gas sales volume between 473k to 505k boepd o production increase at Erawan field, pays interim Bt 5.25 dps XD Feb 19, AGM on Apr 1.
Comment: Why is oil going to drop? If you can’t answer that and you invest domestically only – this is one of the few that have actually shown an increase in earnings since 2019.
SPALI: urges government to relax LTV rule on mortgage, additional cuts on transfer fee & expand price range of eligible property to participate program above Bt 3m/unit to revive real estate’s market, reduce loans rejection rate, maintain FY24 launch plan 42 project total Bt 50b, eye Bt 36b FY revenue target.
Comment: Nah not needed, let it go…we need more players to go under…too much crap out there, and prices get to reset…