Stocks in the news (aot, banpu, kun, leo, lh, master, rs, sprc) 01.02.23
AOT: Qatar Airways added direct flight from Doha to Phuket to 4 daily flights from current 3, starting from today (Feb 1).
BANPU said Australia’s decision to cap coal price at $125/ton will only effect Bt1-2b/quarter, very small vs its Bt50b annual profit.
Comment: The risk for coal prices is that the sudden rush in demand that existed last year is returning to a normal delta. Granted prices will/should (now still @ 250+ for 5k CV) remain far above the cost of coal mines (USD 40-70) and these coal firms will mint it for years, but will the shares prices derate?
KUN sees tourism and economy recovery to help boost revenue to record high this year, plans 2 new projects.
LEO sets 20% profit growth target, supported by JV and M&A both at home and abroad, with plan to migrate to SET from MAI next year.
LH sees another positive year from strong SDH sales momentum, improved LHMH operation supported by higher room rate & OCC, mulls selling Grand Center Point Pattaya & Grand Center Point Space Pattaya total Bt5b in to REIT this year, will use proceed to expand hotel & water park adjacent to existing 2 properties, Bt2.3b project Grand Center Point Surawong on track to cod 4Q23.
Comment: Still the kingpin for SDHs in BKK.
MASTER: local VI, Pongsak Thamtatari, raised holding by 1.518% to 5.2793% of total outstanding on Jan 26.
Comment: Pump to 100, stock split, etc etc, usual play, plus yes it’s a great business that plays well to human vanity.
RS scraps pre-emptive right for subscription of debt collection business subsidiary (CHASE), 68.845m shares (12.25%) of IPO to shorten listing timeframe.
Comment: I thought this IPO would’ve been blocked by the SET given that CHASE is effectively a fake AM – meaning – a shit team put together, buying NPLs at higher prices than everyone else and no real capability to collect, this is an entity created just to IPO.
SPRC to acquire Chevron’s fuels marketing business in Thailand, 9.91% stake in Thai Petroleum Pipeline, 2.51% stake in BAFS and interest in fuels terminals in Songkhla & Surat Thani, transactions to complete within 1Q24.
Comment: Well that’s more and more international businesses exiting Thailand.