AEONTS reports 1Q22 net profit (end of May21) at Bt1.149b, +117%, topline -11% yoy from shrinking card spending from Covid impact & new loan suspension at Aeonts Micro finance (Myanmar) since February 1, lower LLP yoy, recovery on doubtful account and costs control provided cushion.

Comment: Given the high debt levels in Thailand, a friend commented that Thai people are basically working for AEONTS.

IRPC sets Bt13.3b capex for UCF projects, adopting Euro 5 regulations to start commercial production in Jan 2024.

KTC cuts FY21 card spending target to 5% from 8% previous guidance, sees 1H21 NPL under control at 1.5%, mulls revising down revenue target on stringent on credit approval.

Comment: Slower than expected numbers due to government policy errors all around

MAJOR’S board approved sale of 647m share or 30.36% of SF @ Bt12/share to CPN, expected to book Bt2.8b gain, to be used for debt repayment and expansion. CPN to tender for the remaining share in SF.

Comment: I think this is great for all parties, I do wonder what MAJOR is going to do with the cash. Hopefully not content development…

PRM upbeats 2H earnings from recovery jet fuel transport supported by Phuket sandbox, expects positive momentum continue thru holiday season.

PTT & OR launch Swap & Go, a battery swapping platform, targeting delivery riders’ electric motorcycles with 22 stations in initial stage.

Comment: Rubbish model.

THG to support Government’s project with up to 2,000 beds for mild to critical patients, including BKK’s hospitels.

Comment: The CEO has been one of the more critical doctors about this government.

SAK sees positive credits demand upcountry from surging demand for farms expansion & agricultural machineries to capture improved agricultural products selling price, outstanding loanbook stands at Bt7.5b vs Bt8.4b FY21 target, mulls revising up earnings.

SINGER reaffirms solid 3Q from healthy demand for freezer & fridge from grocery shops to store F&B to accommodate 50% shopping subsidy.

Comment: They are going to surprise people with their figures for the rest of the year.

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