Stocks in the news (amata, delta, pttep) 15.09.26
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 has nearly doubled from the December 2025 close on a data-centre/FDI rerating and now sits just below the 52-week high on a still-cheap high-single-digit TTM multiple.
| Market Cap (THB): 37.95B | Market Cap (USD): ~$1.14B (at ~THB 33.25/USD) |
| Current Price: THB 33.00 (as of 15 September 2026 last sale) | 52-Week Range: THB 14.00-34.50 |
| P/E Ratio: 7.4 (TTM) | P/BV: 1.16x |
| Dividend Yield: 4.1% (latest indicated) | Avg Daily Value: THB 150M-1,200M |
▲ +98.8% (Dec 30 2025 close: THB 16.60; 15 September 2026 last sale: THB 33.00)
Foxsemicon, a subsidiary of Foxconn, a major Taiwanese manufacturer of components and modules for semiconductor manufacturing equipment, has announced Phase 2 investment plans in Thailand during 2026–2028. The investment is worth up to Bt8.2bn to accelerate production expansion at plants in Chonburi and Rayong provinces that are based in AMATA industrial estate.
Comment: China+1 continues, it’s just taken longer than financial markets expected…
Delta Electronics (Thailand) PCL manufactures power-electronics, thermal and infrastructure products — power supplies, DC fans, EV/powertrain components, data-centre and telecom power, and industrial automation — from Thai and overseas plants for global OEM customers. The share is the SET’s largest electronics weight and a high-beta AI/data-centre proxy; it has pulled back sharply from the June 2026 peak of THB 372 toward the mid-230s on a triple-digit TTM multiple after a still-large year-to-date gain from the December 2025 close.
| Market Cap (THB): 2.97T | Market Cap (USD): ~$89.3B (at ~THB 33.25/USD) |
| Current Price: THB 238.00 (as of 15 September 2026 last sale) | 52-Week Range: THB 155.00-372.00 |
| P/E Ratio: 99.5 (TTM) | P/BV: 28.2x |
| Dividend Yield: 0.3% (latest indicated) | Avg Daily Value: THB 2.5B-8.0B |
▲ +37.6% (Dec 30 2025 close: THB 173.00; 15 September 2026 last sale: THB 238.00)
Delta Electronics International (Singapore), a major shareholder of Delta Electronics Thailand (DELTA), is reportedly seeking to raise US$1.5bn (c.THB47–48bn), through 2 tranches of zero-coupon exchangeable bonds. The proposed offering comprises (1) Tranche 1: US$500m due in 2027. It will be exchangeable into DELTA shares at a premium of 15–20% (c. +Bt50 upside) over the reference price established through a concurrent DELTA share placement. There is no put option and (2) Tranche 2: US$1.0bn due in 2031 carrying a higher exchange premium of 30–40% (c. +Bt100 upside). The bond holder of this tranche may exercise put options around Mar-28 and Sep-29. Delta Electronics International will also be subject to a 90-day lock-up following the transaction. The proceeds will be used to strengthen working capital and support future business expansion.
Comment: Rumoured for the past few weeks that hedgies were pushing this down expecting for this corp action to occur.
PTT Exploration and Production PCL is Thailand’s national E&P company, producing oil and gas from the Gulf of Thailand and overseas blocks (Myanmar, Malaysia, Oman, Algeria and others) and paying a high indicated dividend. Earnings and the share price track oil and gas realisations, lifting costs and reserve replacement; the name remains one of the SET’s largest energy weights and has rerated from the December 2025 close while still sitting below the 2026 high of THB 164.
| Market Cap (THB): 613.37B | Market Cap (USD): ~$18.45B (at ~THB 33.25/USD) |
| Current Price: THB 154.50 (as of 15 September 2026 last sale) | 52-Week Range: THB 104.00-164.00 |
| P/E Ratio: 8.8 (TTM) | P/BV: 1.08x |
| Dividend Yield: 5.9% (latest indicated) | Avg Daily Value: THB 1.5B-4.0B |
▲ +36.7% (Dec 30 2025 close: THB 113.00; 15 September 2026 last sale: THB 154.50)
PTTEP and PC JDA have been awarded the PSC for Block A-18-01 in the Malaysia-Thailand Joint Development Area (MTJDA), allowing continued exploration, development and natural-gas production for another 35 years. The extension supports long-term resource continuity and reinforces the strategic role of the MTJDA in energy security for Thailand and Malaysia.
Comment: And so which O&G offshore player is going to win this contract?
| 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 | 4.1% | ▲ +98.8% | View → |
| DELTA.BK | $89.3B | 238.00 | 99.5 | 28.2x | 0.3% | ▲ +37.6% | View → |
| PTTEP.BK | $18.45B | 154.50 | 8.8 | 1.08x | 5.9% | ▲ +36.7% | View → |
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