AOT and Krungthai Bank sign partnership to implement Krungthai BUSINESS digital solutions, enhancing AOT’s financial and tax management.

Comment: I have the best solution – remove corruption and margins double…

BA signs SAF (Sustainable Aviation Fuel) MOU, supporting Thailand’s aviation transition toward Net Zero 2050.

BAM projects groupwide NPL acquisitions reaching THB 1 trillion within 5 years. For 4Q25, allocates THB 1bn to acquire an additional THB 30bn in distressed assets. Annual collection target: THB 17.8bn.

Comment: There’s so much bad debt / assets out there.

BBL targets 4–5% growth in 2025 credit-card spending; NPL goal ≤2.1%. Card base to remain around 2.3m. Launches Bangkok Bank Travel Card, targeting 100k cards in year one

Comment: BBL’s NPL target is perhaps the only one that I believe (and BAY’s) in the entire banking industry

CPALL concludes its buyback programme, accumulating 71.6m shares worth THB 3.36bn.

DITTO achieved record 3Q25 profit THB 176.8m (+28% y/y); 9M profit THB 491m (+33%). Growth supported by public and private tech-engineering, document systems, and cybersecurity.

KCC reported 9M25 profit THB 130m (+131% y/y), driven by settlement of a major overdue debtor. Stronger liquidity allows THB 93mequity investments for new opportunities.

Comment: Perhaps an underappreciated quality player in their industry. BAM and JMT get the headlines but KCC has been a consistent performer.

KBANK upgrades K WEALTH into a comprehensive “Future-Ready Wealth’’ platform integrating wealth, finance, business, and protection advisory in one hub.

JTS approves a THB 250m share-buyback plan for up to 9.36m shares from 21 Nov 2025 – 20 May 2026.

LPH recorded 3Q25 net profit THB 59.8m (+48.5% y/y) and 9M profit THB 150.7m (+141%). Interim dividend THB 0.05/share, XD 27 Nov, payout 9 Dec.

ORI reported 9M25 revenue THB 7.44bn and 9M presales THB 19.1bn. Backlog: THB 40.98bn. Six projects worth THB 7bn set for transfer in 4Q68.

Comment: It’s amusing that ORI is one of the few property companies allowed to continue surviving despite being the worst leveraged listed player at it’s size…

TEBP plans IPO of 90m shares in early Jan 2025 ahead of listing on the mai. Business focuses on biogas–OWM as part of a clean-energy expansion strategy.

TFG posted 3Q25 net profit THB 1.70bn (+35% y/y) and 9M25 profit THB 6.29bn. Declares THB 0.10/share interim dividend. Expanding Thai Foods Fresh Market to 615 branches this year.

Comment: I’m surprised by how long prices have stayed high this time around.

Macro, Government & Policy

The Finance Ministry reiterated that the Revenue Department followed proper legal procedures in the Shin Corp tax case, consistent with other cases.
JSCCIB warns corruption may be shaving up to 2% off GDP, with Thailand falling to 5th in ASEAN on the corruption index. Urges rapid government–private sector action to restore foreign investor confidence.
Bank of Thailand reported 3Q68 banking profits fell 6.9% y/y to THB 66bn, pressured by slower loan growth and lower interest income. Key risks: tight financial conditions, SME repayment ability, and slow income recovery.
The Finance Ministry outlined its medium-term fiscal plan, targeting a balanced budget by 2029 (Y72) and keeping public debt ≤70% of GDP. Plans to adjust revenue-expenditure structure and use off-budget funding for investment.
Co-Pay Plus Phase 2 and new welfare-card registration will roll out by Jan 2025 , seen to support 4Q25 GDP growth above 0.6%.
PM officially launched the Upskill–Reskill programme for 400,000 Co-Pay Plus merchants, providing THB 2,000 support each to enhance digital and operational capability.
Hua Seng Heng expects Thai gold prices could retest THB 67,000/baht, citing U.S. fiscal strains, shutdown-related GDP risks, potential Fed cuts, and AI-driven labour restructuring.
GPF introduced the new “Retire Easy 69’’ plan, focused on capital preservation with THB 100k life coverage, under the “Freedom for Living’’ retirement strategy.