AIRA sells 20% stake in leasing unit to NEC Capital, an affiliate of Sumitomo Mitsui Finance & Leasing co.

Comment: Just looking at their numbers you can see that the company has to raise capital.

AMATA sets 950 rais land sales target next year, sets Bt4-5b capex.
BBL, KBANK, KTB and TMB delay plan to purge distressed debts, mulls restructuring to avoid pressuring price, Bangkok business news.

Comment: Of course they want to, why? The pricing on distressed debt is falling, simple reason supply of distressed debt for sale outweighs the amount buyers have (our rough estimates shown ~close to 600 bn in official bad debts, 70-80 bn new ones in 2020, buyers able to take 50 bn). Boon time for JMT and CHAYO. But a fear is what if the banks decide to turn their balance sheets into Japanese banks?

BGRIM’s 39mw solar projects in Cambodia on track to cod by end of year, target cod 16mw windfarm (Bo Thong 1&2) by end of 1Q21, 980mw from 7 co-gen powerplants to cod from FY23/24.

ETC’s moving up from MAI to SET effective tomorrow (December 15).

Comment: A positive for those tracking the name, but in reality unless it becomes part of an index the impact is typically mute.

GLOCON: TRITON raised holding by 0.4705% to 20.4424% of total outstanding on December 4.

Comment: Unless you’re part of this game, it would be best to stay away, TRITON doesn’t appear to have shown that they have the best interests of minority shareholders in mind.

PTT may report 93% profit growth next year to Bt77b, from Bt4.03b expected this year, supported by refinery, petrochem business, stock gains and listing of PTTOR, Tabloid.

SPALI maintained Bt26b full year revenue target after logged Bt20.4b 9M20, upbeats FY21 outlook from stronger finance position after estimate SPALIRT, Bt32b backlog pending to realize from FY21 till FY24.

STGT have secured orders until mid-2022, sees growth momentum into next year, boosting NP to record high, to propose par split from Bt1.00 to Bt0.50 on December 25.

Comment: I can imagine a future where this name is considered a value play.

TQM reaffirms solid 4Q on seasonal of annual insurances renewal and lower SG&A, expects momentum carry thru FY21frm contribution of digital platform, increase market shares from Cambodia market via BIC insurance, TQM Life and upside from partnership with FSMART & TJN.

WP in talk partner to tap in solar business, seeks to branch out from LPG to renewable energy, expects growth into next year from cooking gas cylinders refurbishing business, eyes LPG sales volume target above 800k tons next year.

IIG, JR, and MICRO are in Cash Balance list, where cash upfront is required for any purchase, from December 14 – January 22, 2021.Comment: Typically kills the share price performance until after the cash balance period.

FTSE All World increases weighting in BH, SAWAD, and TU, effective Dec 18, while 12 large caps see weighting cut, PTT, CPALL, SCC, AOT, SCB, BDMS, ADVANC, GULF, CPN, PTTEP, KBANK/F, and BANPU.FTSE Rebalance effective at the close of December 18 (Friday) adding STGT.

Comment: Lots of changes going on, and the reason for the weighting reduction comes from the higher allocation to China in all these indices. Something well telegraphed years ago.

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