Stocks in the news (alt, aot, jas, pin, pttgc, vranda) 22.11.24
ALT plans to roll out submarine cable station rental service in Satun province to support Data Center Interconnect (DCI) between Vietnam, Malaysia & Singapore.
Comment: How could a company of ALT’s “standing” be considered for an important contract such as this?
AOT: FY24 net profit (end of Sept) @ Bt19.18b, +119% yoy; missed Bt19.54b consensus due to lower than expected FY passenger at 119.29m vs 122.26m estimate and one-off exp on reclamation of commercial areas at SIA from King Power duty free for East terminal expansion, pays FY dividend at Bt0.79 dps, XD Dec 4.
Comment: Regardless of the noise around Kingpower….AOT is still putting out fantastic numbers….
JAS will broadcast streaming of EPL & FA cup via Monomax thru ADVANC & TRUE including international roaming to Laos & Cambodia with price up to Bt400/subscriber/month, expects 1.1m-1.2m to meet breakeven.
PIN mulls 2 new IEs, Pinthong 9 and 10, spanning a tot of 3,000 rai in Rayong, to serve foreign biz expansion.
PTTGC withdraws from PTT Asahi Chemical, a 50:5o JV with Asahi Kasei Corp, attributed to tougher competition in Asia, especially from China.
VRANDA sees QTD (Oct-Nov 19) ADR +12% yoy, RevPar +17% yoy, advance booking 2 month (Nov-Dec) accelerate in BKK & Samui, Bt 595m o/s backlog from Veranda Villas & Suites Phuket (68% sold) & Bt318m ready-to-move in inventory to boost earnings, will cod 159 keys resort, Veranda Resort Phuket Autograph Collection at Panwa cape in Dec.
Comment: Even VRANDA is making bank…the spoils are still going to the big boys in the hotel industry.
Paul A. Renaud
A big persistent problem on the Thai SET is that fundamentals don’t seem to matter much.
This year while the most active 2-3 stocks are up 50% while trading at a stratospheric p/e of around 70 (Delta regularly the most active as of late near with a 100 trailing p/e), while much else is ignored. The SET mkt. cap benchmark index bounced back in the 3 Q, but ha, the smaller cap MAI and say SSET index are both down in the high double digits.
These overhyped big caps’ yield barely 1-1.5% dividends vs. many smaller/mid cap ignored growth stocks close to 7%., Vs. 0.3% on Thai bank saving deposits! Compare that to the US, where smaller growth stocks yield barely 2% in dividends while US bank saving deposits bring 4-5% in yearly interest yield.
This is and remains the big dichotomy here…and why its difficult to be a fundamental rational value investor in the SET as of now -as of in the long past. It is what it is and does not seem to be changing?
Pon
Fundamentals do eventually matter – the problem is that it’s taking longer than the 2003s-2012 era, if at all.
You and I both love AUCT but I’m annoyed that the price isn’t moving. I’ve come to the viewpoint that given the changes in markets, one has to find names that are paying shareholders back in the form of generous dividends or buybacks, otherwise investors attention will just go elsewhere.
Paul A. Renaud
One contentious problem here is this strict Thai defamatory 326 law which allows for scrupulous or dishonest people here to go on -and keep going on, about their rogue business & dealings -without any real fear of then being singled out. As if so, they can have their lawyer threaten the cheated victim with lawsuits and this regardless of the full evidenced/truth of the alleged offense incurred if so, fairly so, exposed. This is why, post 25 years doing so, I no longer visit Thai listed companies -as if I get clearly mislead I can’t point this out at my Thai longest running web site, only so for fear of being sued or worse, as a foreigner in Thailand.
Pon
I have been asked to take down several posts. My way around it is I link to the the SEC posts that the management/owners/directors of company xyz were fined by the SEC and I’d happily take down my posts if they can convince the SEC to do so.