AMATA in JV with Broadwin International HK to set up Amata Chinese Smart City, holding 60% stake.

Comment: A non-event…

Auto dealers see surging loans rejection rate, forgoes booking deposit & delay vehicles delivery, expects more auto makers shut down plants as dealers unable to take up stocks, Tabloid.

Comment: Not stock specific, but it points to the manufacturers in the sector. you’re going to see orders delayed for 3-6 months, and leasing co’s i.e. TISCO having issues

EPG upbeats earnings outlook from strong food container sales on uptrend delivery services during outbreak, soft THB to boost revenue 

Comment: Agreed, 50% of their business is rocking and rolling, the other 50% is linked to autos which is basically -30% year-to-date

Finance Ministry dismissed report THBEV is taking over THAI, said ready to implement a rehab plan by bringing in AOT, Government Saving Bank and Vayuphak Fund as new shareholders, pumping in Bt40b cash, and will seek Bt30b loans.

Comment: Every recap of THAI historically led to a 2-4x increase in share price. But this is of course -ve for AOT, explains the share price drop today.

KBANK sets aside Bt14b for oversea investment with plan to take a 35% stake in Myanmar’s Ayeyarwaddy Farmers Development Bank after winning approval for the step from the Central Bank of Myanmar.

Comment: Thai banks invading Burma

PTG will book Bt200m gains from investment in palm complex (40% holding) this year, maintaining 5.4b liter FY20 fuel sales volume target, firms on plan to open 150-200 new retail stations, scale back FY20 capex to Bt4b from Bt5b, will expand LPG cooking gas this year.

Comment: Not sure if the margin gain will offset the volume drop in 1Q and 2Q.

SCB sets up subsidiary bank in Myanmar to support cross-border transactions, high-networth clients & SMEs, target Bt7b loan book within 5 years.

Comment: See KBANK

TNP sees no impact from sales ban on alcohol as liquor sales account for only 1% of total sales, will expand online shelf to boost grocery sales during stay home campaign.

UTP reassures FY20 earnings growth supported by strong demand for paper packaging sales as e-commerce grows during WFH policy, no major capex this year, seeks oversea market to boost sales.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.