Stocks in the news (aimirt, aot, erw, psh, seafco, tpch) 09.05.19
AIMIRT to buy 4 assets combined worth Bt4.3b including JWD cold storage, TIP cargo warehouse, Siam Chem’s chemical storage and cargo warehouse in Bangkradi Industrial Estates
Comment: JWD has a great story, the question is valuation.
AOT said repair at Suvarnabhumi’s East runway had been completed.
ERW expects earnings momentum remain strong thru 3Q from extension of VOA fees waiver till Oct, allots Bt3.3b budgets to add 9 hotels, target 10-15% revenue growth this year.
PSH mulls 5 projects worth Bt12.45b, hoping to become #1 in Bt5-15m segment, Bt5b of Bt14b backlog to realize this year.
Comment: And then every other player is going into this sector as well. It’s going to be interesting to see how things are going to be playing out in the real estate sector throughout this year
SEAFCO reaffirms all time high profit upcoming 1Q report on May 14, will sign additional foundation work contracts worth Bt300m in May, target backlog >Bt3b by end of year.
TPCH reaffirms record high revenue and profit this year on 3 new powerplants with 40MW capacity, boosting overall to 100MW, mulls expansion into CLMV.
Comment: At the end of the day, investors have stayed away from these renewable names unless they are large IPP players.
Paul Renaud
Today the Thai Government will very likely announce a new Bank of Thailand Governor. (BOT).
Many welcome this change! The Thai Finance Minister with its choice has already signaled their intention to induce a more active central bank role, which means lower interest rates as well as hopefully mandating Banks here to lower their lending rates (MRI)!
Likely as well, to tame down some the Thai Baht currency which has excessively risen over the past year or so, even stronger then the mighty Swiss Franc. All the while Thai inflation is at an overly-low 0% for some time, this itself is not healthy, as it supports a stagnating economy.
For years the BOT has all but sterilized its monetary policy while sitting on an excessive 240 Bill. US$ in foreign reserves. This stemmed out of the 1997 Asian Financial crisis horror which originated in Thailand. It created a sort of “never again” disposition/mandate and ever since the BOT has been way-overly stingy, for lack of a better word.
Unlocking the long past outdated mantra along with inducing higher Thai worker productivity, are the key elements to get the Thai economy moving again, in many views. The news of a more progressive BOT, at last, may well be the caveat which broke the bearish Thai SET trend -which reversed since late June ’25 and been on a rally mode since, despite still many uncertainties, like US tariffs and unsettled politics.
Pon
A new national AMC.