AEONTS reported 2Q22np (eo-Aug) at Bt903.56m, +33% yoy; missed Bt1b consensus, pays Bt2.55 dps, XD Oct 18.

BGT: agricultural foods producer, Betagro, sets IPO price at Bt40/share, will sell up to 434.8m shares, greenshoe 65.2m shares, PO subscription from Oct 10-17, Institution from Oct 20-25, BofA Phatra and Bualuang joint-leads.

Comment: It’s interesting to see the numbers of BGT, now there’s a good comp versus CPF.

BSBM’s revenue may report solid 3Q and record 4Q on higher sales, boosted by government projects, EEC’s, and post-flood repairs, Tabloid quoted a broker’s report.

JMART’s acquisition of Tee Noi Suki restaurant has been 95% completed, on track to complete by end of Nov, firms on 50% revenue growth target.

Comment: This is an odd news announcement given that the owner himself said that they are not making the acquisition and have decided to only help the restaurant.

KTB may report strongest growth among peers in 3Q on higher interest income from government projects, lower LLP and fees from Pao Tang App, Tabloid.

Comment: The Pao Tang app is incredibly valuable. Underrated by investors IMO, if this was a private institution, it would be valued more highly.

SISB sees strong 3Q as overall enrolled students reached 3K, booked new tuition fee rate in 4Q, boosting revenue growth by 20% this year.

Comment: And they are opening new campuses.

TFG sees record revenue in 3Q on high swine and chicken price, while exports kept growing, to expand Thai Food Fresh Market from 177 now to 200-220, firms on 20-25% revenue growth this year.

Comment: And they are benefiting from the weaker THB, the odd fact that TH swine/chicken prices are strong and expanding margins as raw mats are declining from their peak

TH may sees solid growth momentum in 3Q upon realizing AMC revenue from Bt6b acquisition of bad debts, target 126% revenue growth target this year, Tabloid.

Comment: Doubt the long-term viability of this company given who they hired.

TPIPL: affirms BBB+ credit rating, revised outlook to positive from stable at TRIS.

Comment: Surprised that this isn’t a higher rating.

  1. BTC v.v. CPF. I read that there are concerns about BTC’s ability to maintain margins and to continue its short term history of growth. This is a big assumption by me, but with the likelihood of a continuing weak Thai baht to help further growth of its exports, the company’s IPO pricing seem to be modest; especially when compared with CPF. any comments. as I am working off very limited financial information. I can only find the IPO in Thai language.

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