Stocks in the news (ah, cpn, sabina, thcom, true) 26.01.26
AAPICO Hitech Public Company Limited is a leading Thai automotive parts manufacturer and distributor with operations across Thailand, China, Malaysia, and Portugal. The company focuses on OEM auto parts manufacturing, car dealerships, and IoT connectivity & mobility solutions. Its core business includes metal forming, forging and machining, casting, plastic parts and fuel tanks, as well as tooling supplied to global OEMs such as Ford, Toyota, Nissan, and Auto Alliance Thailand.
Key Metrics: Market Cap: THB 4.34B, P/E: 5.78, Dividend Yield: 6.12%
View full analysis on Perplexity Finance →AH anticipates a recovery in production orders in 2026, particularly in the 2H26, as it begins receiving EV orders. Meanwhile, PHEV and hybrid orders from Japanese customers remain consistent due to new model launches. The establishment of Chinese automakers in Thailand by AH supports medium-to-long-term opportunities. The pickup truck market remains the core of Thai production, and AH emphasizes strict cost control as a key strategy to maintain margins.
Comment: Now here’s a question – are the suppliers to the Japanese and Europe automakers winning the same volume from the Chinese players? Or are the mainlanders so vertically integrated that they don’t need local players such as AH (SAT, KCE etc)
Central Pattana Public Company Limited is Thailand’s largest retail property development and investment company, operating as a key business unit under the Central Group. Founded in 1980, the company specializes in developing and managing a diversified portfolio of real estate assets including shopping centers, office buildings, residential properties, hotels, and entertainment facilities across Thailand and Malaysia. With shopping centers accounting for over 80% of total revenue, Central Pattana currently operates 38 shopping centers with approximately 1.9 million square meters of leasable area.
Key Metrics: Market Cap: THB 258.06B, P/E: 14.45, Dividend Yield: 3.65%
View full analysis on Perplexity Finance →CPN has invested over Bt1.7bn in the major transformation of Central Pinklao in three decades. This is to elevate Central Pinklao from a retail landmark to the top destination in western BKK, positioning it as a ‘district leader’, supporting urban expansion, leveraging abundant existing infrastructure and high-quality purchasing power.
Sabina Public Company Limited is a Thailand-based manufacturer and distributor of women’s lingerie operating under the Sabina brand, serving domestic and international markets. Founded in 1995, the company has successfully transitioned from an OEM manufacturer to a comprehensive brand developer, with own-brand products now representing approximately 94% of total sales as of 2024. The company offers a diverse product portfolio including bras, underwear, swimwear, and activewear for women of all ages, distributed through department stores, shopping centers, proprietary retail stores, TV shopping, and digital channels.
Key Metrics: Market Cap: THB 5.59B, P/E: 13.53, Dividend Yield: 7.64%
View full analysis on Perplexity Finance →SABINA unveils its 2026 plan, focusing on maintaining margins and profitability amidst various challenges. The Co remains confident that sales revenue will meet its targets, particularly from the OEM channel, which is projected to increase its revenue share from 6-7% to nearly 9% by 2025 and is expected to continue rising this year. SABINA believes its image as more than just lingerie will become clearer this year.
Comment: Given the average age of Thailand, granny panties might become their best selling product.Â
Thaicom Public Company Limited is a leading Asian satellite operator and provider of integrated satellite communications services, established in 1991 and headquartered in Bangkok, Thailand. The company operates through three main business segments: Satellite Business Services, Internet and Media Services, and Telephone Network. Thaicom offers transponder services, broadband connectivity, internet data center services, broadcasting television, and telecommunications solutions across Thailand, Australia, India, Japan, Myanmar, Malaysia, Singapore, and other international markets. As a pioneer in the industry, Thaicom launched the world’s first High Throughput Satellite (IPSTAR/Thaicom 4).
Key Metrics: Market Cap: THB 9.81B, P/E: 99.44, Dividend Yield: N/A
View full analysis on Perplexity Finance →THCOM: The mgmt declares the business has reached a turning point, confident of a turnaround this year. The Thaicom 9 satellite is scheduled for launch mid-year, with a high utilization rate of 75% from the start. Positive news regarding the USO Phase 3 results is expected in Q1. The Co highlights strong Space Tech growth, expanding into the agricultural sector and aggressively pursuing carbon credits. India is targeted as the world’s number
one market.
Comment: Space tech ftw! Perhaps someone clever will rebrand THCOM as a space related investment. It’ll moonshot…think I’m joking? Look at rocketlab in the US, addvaluetech in SG and several others. (granted those are genuinely are space related)
True Corporation Public Company Limited is Thailand’s leading integrated telecommunications and technology company, headquartered in Bangkok and operating through its TrueMove H, TrueOnline, and TrueVisions segments. Founded in 1990 and listed on the Stock Exchange of Thailand, the company provides comprehensive telecommunications services including mobile communications, broadband internet, Wi-Fi, pay television, and digital platform solutions to customers across Thailand. Following its 2023 merger with DTAC, True has positioned itself as a major player in Thailand’s telecommunications sector. Under the leadership of Group CEO Sigve Brekke, the company is driving digital transformation and expanding its enterprise offerings.
Key Metrics: Market Cap: THB 380.07B, P/E: N/A, Dividend Yield: 1.73%
View full analysis on Perplexity Finance →TRUE: Sigve Brekke, CEO of the TRUE Group, confirmed that the sale of Telenor’s 24.95% stake in TRUE to Arise Ventures Group, led by Suphachai Chearavanont, is merely a shareholder restructuring and will not change the company’s business direction, strategy, or financial policies. Sigve to remain group CEO and will serve as executive chairman of digital biz at Arise, will transformation from telco to tech-telco built on 2 pillars (cloud & AI), Telenor to hold 1 board seat out of 11 for the next 2 yrs.
Comment: No one believes it…the company will need to pump out another q or 2 of decent #’s to convince the market.
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