AOT sets Bt9b capex to expand East terminal, adding 66k sq.m. to up SIA capacity to 60m psx p.a. from current 45m, expects to open bid within Apr-May, begin construction in July, target completion within 2 years.

AOT’s expected to report after close Bt5.1b 1Q24 (ending Dec 23) consensus.

Comment: People forget that AOT had these capex plans for years…they’re just finally executing them, you’ll be wonderfully surprised by the airports in 2-3 years.

BBL sees positive corporate loans momentum as corporate seeking alternative to raise funds due to jitters in bond market.

Comment: The debenture market is dead for average companies, for the best and biggest no issue – best place to raise unsecured debt.

CHOW signed MOU with TU to develop & install >30mw of solar project for TU’s partner nationwide, construction to be completed by end of year.

GPSC reported Bt3.69b FY23, +315% yoy, Bt0.44/share dividend, XD Feb 23.

GLOBAL: Bt2.67b, -30% yoy; missed Bt2.71b consensus.

MILL target FY steel sales volume >600k tons driven by jump start infra expansion & demand from FDI, expects ltd downside on selling price, 2 waste power project combined 16mw on track to cod FY26.

MINT sets Bt30b 3-year capex, targeting 8-10% rev and 15-20% Net profit growth, hotel expansion to 780 from 530 properties, restaurants to 3,700 from 2,600.

Comment: They are proving to be the best at financial engineering w/ average operational performance.

SCCC reports Bt2.68b, +44% yoy, topped Bt2.29b consensus, pays Bt7 dps, XD Feb 22.

Comment: Hello declining coal prices? Perhaps a better barometer for cement consumption in thailand & the region as SCCC doesn’t have the petrochems that have both sent SCC’ earnings to the moon or crashing down.

SPALI in collab with BAY, offering 0% for up to 12 months for 100 projects til Mar 29.

Comment: What increase in rates? Capital flows to the best, SPALI will continue to expand its market share.

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