Stocks in the news (AMATA, BANPU, GULF, JPARK, TKN) — 17.09.26
Company news
Amata Corporation PCL develops and operates industrial estates in Thailand and Vietnam (Amata City Chonburi, Rayong, Bien Hoa and related sites), selling prepared land to manufacturers and layering utilities, rental factories and power/water JVs on top of the estate platform. Cash flow mixes lumpy land transfers with recurring utility and rental income; the share bounced back to THB 33.00 after yesterday’s slide to 31.75, still just below the 52-week high of THB 34.50 on a cheap high-single-digit TTM multiple after nearly doubling from the December 2025 close on the data-centre/FDI rerating.
| Market Cap (THB): 37.95B | Market Cap (USD): ~$1.14B (at ~THB 33.36/USD) |
| Current Price: THB 33.00 (as of 17 September 2026 last sale) | 52-Week Range: THB 14.00-34.50 |
| P/E Ratio: 7.4 (TTM) | P/BV: 1.16x |
| Dividend Yield: 4.2% (latest indicated) | Avg Daily Value: THB 150M-1,200M |
AMATA: Secures Bt3.1b investment from Homa (China) to build a plant to produce fridge and freezer at Amata Chonburi IE, with 1.5m units/year capacity for exports, targeting EU markets.
Banpu PCL is an energy group spanning next-generation coal mining, U.S. natural gas, thermal and renewable power in Asia, and future-energy technology. In 2026 Banpu amalgamated with Banpu Power; the listed BANPU vehicle is the combined NewCo. The share ticked up to THB 14.80 near the top of its 52-week range on a mid-single-digit TTM multiple and a high indicated yield, still screening as a commodity-and-power cash-flow name after the August combination.
| Market Cap (THB): 45.11B | Market Cap (USD): ~$1.35B (at ~THB 33.36/USD) |
| Current Price: THB 14.80 (as of 17 September 2026 last sale) | 52-Week Range: THB 8.00-15.30 |
| P/E Ratio: 5.4 (TTM) | P/BV: 0.81x |
| Dividend Yield: 5.5% (latest indicated) | Avg Daily Value: THB 50M-150M |
BANPU — US unit BKV (NYSE, Banpu 72.6%) closed the Barnett Shale package on 15 Sep: ~65 MMcf/d producing gas (more than half liquids), ~117,000 acres in Montague County, Texas, ~1,000 wells, plus midstream and CCS. Banpu calling it the US closed-loop gas book.
Comment: They struck gold here for this year.
Gulf Development PCL is Thailand’s leading independent power producer after the Gulf–Intouch amalgamation, owning gas-fired IPP/SPP plants, LNG and a growing renewable book, plus a strategic stake in ADVANC. Earnings mix gas-spread power cash flow with telecom associate income; the share recovered to THB 61.00 after Wednesday’s close at 60.25, still well below the late-August 52-week high of THB 68.50 on a mid-20s TTM multiple after the 2026 combination rerating from the December 2025 close.
| Market Cap (THB): 911.34B | Market Cap (USD): ~$27.32B (at ~THB 33.36/USD) |
| Current Price: THB 61.00 (as of 17 September 2026 last sale) | 52-Week Range: THB 39.75-68.50 |
| P/E Ratio: 24.2 (TTM) | P/BV: 2.71x |
| Dividend Yield: 1.7% (latest indicated) | Avg Daily Value: THB 1.5B-4.0B |
GULF: CEO said the co received lots of business proposals at the Gastech event in BKK, on track to push forward with 1,000mw data center park, sees no impact from rising rates to its bonds.
Comment: “Everyone knows that we’re the only game in town, so they’re bending over and offering anything I want”
Jenkongklai PCL (JPARK) operates parking-management and related mobility services in Thailand — on-street and off-street car parks, building-parking concessions and ancillary services for commercial and public sites. Earnings track occupancy, contract wins and new-site ramp-up; the share was unchanged at THB 3.06, mid-range versus the 52-week high of THB 4.36, on a low-teens TTM multiple and a low-single-digit indicated yield after a modest gain from the December 2025 close.
| Market Cap (THB): 1.22B | Market Cap (USD): ~$37M (at ~THB 33.36/USD) |
| Current Price: THB 3.06 (as of 17 September 2026 last sale) | 52-Week Range: THB 2.26-4.36 |
| P/E Ratio: 13.9 (TTM) | P/BV: 1.50x |
| Dividend Yield: 3.3% (latest indicated) | Avg Daily Value: THB 2M-8M |
JPARK: sees solid growth in 2H on new parking contract, focusing on lifestyle malls, firms on 25-30% growth target this year, supported by recently opened Bt590m GJ Park with 90% occupancy rate.
Taokaenoi Food & Marketing PCL is Thailand’s listed seaweed-snack maker, selling branded seasoned seaweed and related snacks in the domestic retail channel and for export across Asia and other markets. Earnings track volume, raw-seaweed costs and export mix; the share bounced 3.4% to THB 4.28 after a soft mid-September stretch, still well below the 52-week high of THB 6.25 on a low-teens TTM multiple and a high indicated yield after a modest gain from the December 2025 close.
| Market Cap (THB): 5.84B | Market Cap (USD): ~$175M (at ~THB 33.36/USD) |
| Current Price: THB 4.28 (as of 17 September 2026 last sale) | 52-Week Range: THB 3.66-6.25 |
| P/E Ratio: 13.4 (TTM) | P/BV: 2.68x |
| Dividend Yield: 6.8% (latest indicated) | Avg Daily Value: THB 5M-25M |
TKN announced buyback, up to 17m shares (1.23% of paid-up) under Bt80m budget, starting from Sept 22 till Mar 21,2027.
Comment: Another one..
| Ticker | Mkt Cap (USD) | Price (THB) | P/E (TTM) | P/BV | Div Yield | YTD 2026 | Analysis |
|---|---|---|---|---|---|---|---|
| AMATA.BK | $1.14B | 33.00 | 7.4 | 1.16x | 4.2% | ▲ +98.8% | View → |
| BANPU.BK | $1.35B | 14.80 | 5.4 | 0.81x | 5.5% | ▲ +17.5% | View → |
| GULF.BK | $27.32B | 61.00 | 24.2 | 2.71x | 1.7% | ▲ +46.1% | View → |
| JPARK.BK | $37M | 3.06 | 13.9 | 1.50x | 3.3% | ▲ +12.5% | View → |
| TKN.BK | $175M | 4.28 | 13.4 | 2.68x | 6.8% | ▲ +7.0% | View → |
Corporate events
XD today — HPT ฿0.015; PRG ฿0.38.
Last day — FMT tender at ฿18. Closes tonight.
Still open — SPCG tender at ฿9.11 through 8 Oct.
Tomorrow — PSP XD ฿0.30. PRECHA XR 1-for-2.5 at ฿0.20. BOFFICE par cut ฿8.7093 → ฿8.5993. FTSE rebalance prints on the 18 Sep close.
Coming — KTB / KTB-P XD ฿0.48 on 22 Sep.
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