Stocks in the news (aot, bam, bcp, mtc, ori) 09.04.26
Airports of Thailand Public Company Limited is the leader in Thailand’s airport business, managing six major international airports including Suvarnabhumi and Don Mueang. The company plays a critical role in the country’s tourism infrastructure by providing aviation and commercial services that connect Thailand to global travel networks.
AOT: The Co reports slight growth (+2.3% 3.7mn passenger) in total air travel during the 10-day Songkran holiday, despite higher ticket prices due to the impact from the Middle East. Domestic travel demand remains strong, and the Co is closely managing weekly summer flight schedules. Flight numbers are expected to increase in early April, with short-haul travel accelerating. Incentive measures are encouraging airlines to add more direct flights, boosting flight slot availability.
Comment: And if the #’s are higher than expected i.e. continuous growth YoY – how surprised would you be?
Bangkok Commercial Asset Management Public Company Limited is the largest asset management company in Thailand, specializing in the management of non-performing loans (NPLs) and non-performing assets (NPAs). The company acquires distressed assets from financial institutions to restructure and liquidate them, contributing to the stability of the Thai financial system.
BAM: The Co indicates that the current economic downturn is deep and widespread, dragging down Q1 2026 collections to below target. This is pressured by stalled large property deals due to tighter lending standards from financial institutions.
Comment: Thailand still hasn’t unclogged the poop
Bangchak Corporation Public Company Limited is an integrated energy company with core businesses in oil refining, marketing through its retail station network, and green energy exploration. Following its acquisition of Esso Thailand, BCP has significantly expanded its refining capacity and market share in the downstream petroleum sector.
BCP said a tanker carrying 700K barrels of crude from the ME has safely arrived at a local port after clearing the Strait of Hormuz last month, and is currently discharging the crude at Bangchak Sriracha Refinery port after arriving on the night of April 7.
Comment: Thailand’s MFA is doing a wonderful job.
Muangthai Capital Public Company Limited is Thailand’s leading microfinance provider, specializing in vehicle title loans and personal credit. With an extensive branch network covering every province, MTC focuses on providing accessible financing to underbanked retail customers and small entrepreneurs across the country.
MTC: The Co is benefiting from the upcoming agricultural planting season, boosting loan demand. Govt economic stimulus policies are also contributing to the positive trend. The Co is not concerned about NPLs, reporting strong performance in the first half of the year due to an expanding customer portfolio. MTC is aggressively expanding its branch network to increase revenue, aiming for a total of 9,000 branches by the end of the year.
Comment: And because the government is going to protect their customer base and their NIMs are going to expand this year.
Origin Property Public Company Limited is a leading real estate developer in Thailand, primarily focused on residential projects near mass transit stations. The company diversifies its portfolio through hotel investments, industrial properties, and health-tech services to create a comprehensive lifestyle ecosystem for its residents.
ORI said it has a total 4,900 units as pet-friendly condo across 25 projects in its port, which generate 20% higher yield, with Bt35b in backlog to be realized over next 2-3 years. Pet Humanization 2.0 has is expected to boost pet-related market to exceed Bt100b this year.
Comment: Or viewed another way, they have a YUGE amount of inventory and can’t find any buyers.
Summary Table
If this has helped you, please consider donating and buy me a Somtum Waffle 🙏🧇