AH’s board approved acquisition in 60% of Malaysia auto parts maker, an affiliate co., of Proton Group, Advance Vehicle Engineering Global (Avee) for up to MYR41m (Bt312m) to support overseas expansion.

Comment: Hopefully not to supply to Proton manufacturing…

CPNREIT to renew lease of 2 malls, Central Pinklao (15 years) & Central Rama 2 (30 years) for total investment of US$710m, seeks unitholders approval at EGM on Jul 31.

Comment: Looks like investors have woken up to the idea that leasehold reits have a lifecycle…

DOD expects big jump this year driven by strong contribution from cannabis extraction subsidiary, Siam Herbal Tech (SHT), feeding products to Pacific Cannovation (PACCAN) for medical applications.

DUSIT keeps 30-35% full year revenue growth target, sees 1Q hotel revenue +88% yoy, OCC @ 75%, +58% yoy, RevPar @ Bt3,289, +76.4% yoy the highest in 3 years, positive momentum from F&B, cooking school and growth bakery franchise to support earnings, Dusit Central Park Residence 62% sold at end of May, target at least 70-75% by end of year, Dusit Central Park hotel on track to cod next year.

Comment: Still one of those smaller names that could eventually compound to becoming a larger hotel player globally.

IMH to rebrand Mahesak Hospital to IMH Silom, targeting foreign cash patients and corporate around the area, target Bt400m contribution to the group p.a.

IVL eyes 15-20% full year revenue growth target driven by larger capacity yoy from new CPET plant, eased pressure from excess inventories from trading partners, FY contribution of Oxiteno, wider margin from lower energy & feedstock costs.

Comment: I don’t see much downside from these price levels..

NCL mulls few M&A to expand new business, sets Bt100m capex p.a., sees solid 2Q23 on economic recovery post-covid, gain from sale of Grace Water Med.

SUPER received first payment US$51m from disposal of 49% holding in Vietnam solar project, Solar NT Holding, to AC Energy Vietnam Investment total US$165m, remaining proceed is expected to complete transfer by end of year.

Comment: If STARK has question marks, I wonder about all SUPER’s dealings in Vietnam. Vietnam has been notoriously awful for any renewable investment projects.

UNIQ wins tap water pipeline project from Metrppolitan Waterwork Authority (MWA) valued at Bt278.54m.

XO firms on record high 2Q sales >Bt500m on rising orders from US, raised this year revenue growth target to 20% from 10% earlier, sets Bt700-800m capex for 4th plant, CODed in 2025, targeting Bt6b sales.

Comment: Just continuously impressed by this company.

  1. The anti-corruption drive in Vietnam is very similar to what happened in China a few years back. I remember when the stockprice in Moutai plummeted as you couldn’t gift expensive win to officials anymore. Turns out the drive was just a cover for power consolidation and a purge of opposing factions within the Govt.

    • This remains to be seen in Vietnam.

      I was very surprised that the President got smacked.

      Playing the devil’s advocate, on the plus side, they cleaned up shop, those that were obviously corrupt were kicked out – and for the first time in modern history – not hung. They were allowed to leave peacefully.

      On the other side, well, usual, power grab, no projects going ahead as everyone is afraid to be accused of corruption, everything is at a standstill, and new cronies take over a stagnant economy.

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