Stocks in the news (aot, asian, bcpg, ditto, pcc, ptt) 12.06.23
AOT: new satellite terminal at SIA (SAT-1), 216k sq.m with 28 aircraft parking bays will be launched in a soft opening in Sept.
ASIAN: anticipates 2H turnaround from ease pressure on excess inventory situation from trading partners, lower freight rate and raw material costs on pet food & frozen food production, higher THB revenue from weak currency provide cushion.
Comment: A lot of us are paying attention to this sector….was the drop in business from 4Q22 to 1Q23 genuinely due to massive inventory ordering up until 3Q22 or is there something else occurring in the industry?
BCPG: 2 hydro pp in Laos (Nam San 3A&3B) combined 114mw to resumption from Jun 23 after temp shutdown from Dec 22.
DITTO: SSDT consortium wins Bt2.04b construction contract from Ministry of Natural Resources, DITTO gets Bt500.78m (24.5% interest).
Comment: The story for ditto, other than it being a haven for punters, is that they are going to be the winners in the carbon credit game that Thailand is getting into.
PCC: awards substations upgrade project from Electricity Generating Authority (EGAT) valued at Bt2.38b.
Comment: If Thailand is going down the EV route & plan to shove it down the consumers throats then they’ll have to get ready to upgrade ALL the substations in the country. So PCC, AKR, QLT (or has it changed?), DEMCO (yes even this dog) are going to benefit.
PTT: subsidiary, Arun Plus, forms venture with CATL to invest Bt3.6b in Cell to Pack (CTP) battery plant capacity 6GWh p.a., target cod next year.
Comment: Urgh, see above.
peter satrapa-binder
@ EVs: i think that thailand WILL go down this road as for example the EU is going it too and especially China – and thailand surely wants to win some investment from BYD and the other china EV auto makers.
Pon
China heavily subsidised their industry to get to this stage. The EU has subsidised buyers to get to this stage. I wonder for how much longer these subsidies will exist/continue. Business models that rely upon government subsidies – generally fail in time.
peter satrapa-binder
sure, it depends on whether in future production get that much cheaper that these car makers will be able to sell their EVs at reasonable prices while still making sufficient profits without getting subsidiaries any more.
but we are still quite at the beginning of this this development,so time will tell.