AMA expects to wrap up M&A logistic co in October, to branch out from sea freight to onshore logistic.

Comment: Ships are rocking atm and I think you’ll see far more upside in the coming quarters-years

Association of Investment Management companies mulls pulling off investment in JAS following mgt scandal on insider trading in JTS.

Comment: Fake news, all the AMs bought the hell out of CPALL when it dropped due to the insider trading scandals.

Bank of Thailand allows commercial banks to write back excess reserve, after the implementation of TFRS9 from 1Q20, BBL has the highest with Bt94b, KTB with Bt65.4b, KBANK Bt82.8b and SCB Bt47.1b, Tabloid.

Comment: Accounting policies to help the banks look good.

JKN upbeats 2H earnings from strong drama series content sales to CLMV clients, tailwind from JKN-CNBC news contents feed to DTV channel since Jul 1 (3 programs sold to GMM25), in talk to sell additional news contents to 2-3 channel, firms on 20% growth this year.

Comment: They’ve been saying this whilst he/she has been selling shares.

S board approved allocation of Singha Hospitality REIT (SHR) IPO 68.54m units to existing holders at 100:1, XB Sept 27.

THAI to postpone plan to submit for cabinet approval to acquire 38 planes worth Bt150b from this month to next, citing high oil price and strong THB to affect rev projection.

VRANDA buys 2 JPN bakery franchises (GRAM & Pablo) for Bt110m, expects to add 7-8 branches by end of-FY20.

  1. This is what annoys me about the retail market, retail traders will jump for joy next year and the year after and so on when bank profits go up some 20-40% when they start reversing out the excess provisions, but from a cash perspective all this does is give 20% of the excess back to the govt in the form of taxes. So now my bank holdings will actually be losing value all becuase of some stupid accounting regulation.

    Take BBL as an example, for them to reverse out 94B over 5 years will drive up their EBITDA by 19B a year and their tax bill by 4B a year. The end result is BBL will be about 20B baht “worse off” over 5 years.

    • Or could you argue that they can use the reserves to then further leverage and increase lending leading to higher profits which overcome the tax payments?

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