AOT’s expected to sign Bt9.7b 3rd runway projects with NWR, if manages to clear EHIA on July 20.
AOT: Chinese Aviation authority (CAAC) suspended flight from Thai Lion Air and Thai Air Asia X for 1 week after discovered 6 Covid cases on board SL117 & 5 cases on XJ808 on July 7 & 10.

Comment: Great for NWR if true. Amusing re the CAAC…

BAT-3K: Hitachi Chemical raised holding by 10.8259% to 46.6777% of total outstanding last Friday (Jul10), SEC filing.

DTAC reports 2Qnp at Bt1.88b, +20% yoy, beats Bt1.11b consensus, Bt0.87 dps, XD July 24, positive surprise on lower network opex, SG&A & lower handset loss qoq drove profit.

Comment: I think that the only way to look at DTAC is to value it from its post paid subscribers, as they don’t care about the pre-paid business like AIS and TRUE does.

EA seeks SEC approval to take a 40% stake in NEX, to create synergies for battery and EV business, while lithium battery plant 1st phase will be completed by end of year.

INET expects to book Bt1b gains from disposal of Bt4.8b data center phase 1 into REIT, will use proceed to expand ongoing projects to phase 5, more projects to come from state agency as CAT & TOT both holding co., 16% each.

Comment: Appears to be already priced in.

MJD delays 2H launch plan 5 projects total Bt20b to FY21, focus on purging Bt11b ready to move in inventories for remaining of year.

Comment: I can’t imagine how this company will continue w/o a recap….then again I’m applying this to several of the property developers.

NER upbeats 2H earnings from revenue recognition from 2 Chinese clients Linglong Tire (LLIT) & Triangle, 176ktpa additional production capacity from new plant cod-ed in May left total to 460ktpa, sees rubber px cushion from government plans to spend Bt30b on rubber for roadwork projects FY20 till FY22, will signs long term rubber purchasing contract with 2 clients before end of year.

PJW reaffirms meaningful turnaround 2H from surged auto parts, tooling and mold order from automakers post lockdown, healthy margins from low plastic beads price & absence of heavy capex, 2 plants in China (Tianjin & Jiangzu) resume operation since March serving lubricant & chem packaging for Exxon Mobil under 8 year contract and 1 more undisclosed client, will sign 1 more contract before end year.

Comment: A decent co, but margins can be rather volatile from raw mats…

  1. NWR ? that sure came out of left field. Net cash flows are insignificant/negative from ops. Co. does not appear to have a controlling shareholder group. SP has doubled in the past 3 months. Probably to small and too late to take a spec/growth position.
    I love your comment on our new line of exports – send our covid back to China 🙂

    • NWR … well it’s all how much one pays for the project at the end of day…

      The wuflu is the only thing out of china that lasts, every other product falls apart.

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