AOT is expected to gain 6.5m passenger after adding 3 airports to management (Udon Thani, Krabi and Buri Ram), translated to 5-6% profit upside, Tabloid.

Comment: Thailand’s airport system is actually rather fantastic. Go fly around Europe or the US, a shambles in comparison.

BAFS sees clear sign of recovery this year, sets 3,000m liter jet fuel sales, vs 1,638m last year.
Comment: Rate of change is still going to be massive for Th and this part of the world in 2023.

BCP in jv with BBGI and Thanachok to produce jet fuel from recycled oil, sets 365m liter target from 2024, with Bt8-10b investment.

BGRIM firms on plan to add 1k mw in 2H, 4 investment deals in Malaysia, SKR, VN & Europe to conclude by end of year.

Comment: I worry re VN, they’re doing what TH did a decade ago, stupidly high adders for a power source that isn’t reliable.

BLA: local fund, BBLAM, cuts holding by 0.7027% to 4.4059% of total outstanding on Monday.

Comment: Note that when you see this in the news, that BBLAM has multiple funds….one could be selling, another could be buying. This applies to all the AM co’s

CPALL’s bids for Metro in India at $1b, vs Reliance Retail’s bid at $700m, and might create overhang, tabloid.

Comment: The news seems confused, rumours that it was MAKRO hit the headlines yesterday (as well as at the beginning of the year), and now it appears that its CPALL? Is Metro a true seller? Appears so, they’ve been selling their assets as the parent #s are poor and overleveraged.

EGCO to wrap up M&A on large PP by end of year, keeps Bt30b capex this year.

IP will realize full quarter contribution of Lab Pharmacy in 3Q aft acquired in April, strong sales of health supplements (Probiotics, Fit Series & PreBo) and breakeven of Modern Pharma (diabetes medication, insulin control, cough medicine) to improve profitability, will add Covid drugs in 2H.

Comment: It does appear that they are working well with HL to ensure that there is a distribution network for its products.

NDR upbeat 2H sales from motorbike tires exports to Cambodia, maintains Bt 900m full year sales target, keeps FY GPM target at 15%, solar rooftop to curb energy cost, mulls expand HVA products to wider margin.

SCB raised 2H22 NIM target to 3.1-3.2% from 2.9-3.0% previously.
Comment: Oh but I thought that the banks were not going to increase the rates on its customer base? Oops.

SIRI revised up FY SDH sales target to Bt27b from Bt24b prior, aft logging 96% of previous guidance, newly launched Bt2b upmarket projects, Burasiri Krunthepkritha, sold out on the first day of pre-sales, 86 units of Narasiri Krunthepkritha under Sansiri Luxury Collection to close sales by eo-3Q.

Comment: What recession?

TASCO, DOHOME, GLOBAL see windfall from Bt5.2b Local Govt Org’s Bt5.2b budget to repair and renovate roads and reservoirs.

TLI to benefit from higher bond yield as Fed keeps hiking rate, as Bt422b out of Bt510b investment port is in bond and deposits, sees 25% profit growth this year.

Comment: Actually one should pay attention to their volume growth as its a bigger part of earnings, the port increase is small.

TOP’s long term issuer default rating was affirmed by Fitch at A+. Outlook reflects risks to its deleveraging because the completion of its clean-fuel projects has been delayed to 2024-2025, expects GRM to soften in 2023, though they will “remain robust”

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