NESDC, formerly known as NESDB, opposes to AOT’s plan to build Terminal 2, asking AOT to stick to 2003 Master Plan by building 3rd runway and extensions to East/West passenger terminals.

Comment: Who knows who’s right here.


BDMS’s founder, Prasert Prasarttong-Osoth, paid Bt500m to settle stock manipulation cases.

Comment: Short term thinking never works


CI’s hi-end SDH projects, Issara Residence Rama9, 20 units starts Bt100m, 60% sold, sees no impact on new LTV measures, sees healthy market from low competition in ultra-luxury segment.

Comment: A small number of units and most likely sold to friends


CHG sees meaningful turnaround this year from full year contribution of 2 hospitals and strong utilization of IPD unit above 70%, sets Bt300m budget to expand cancer center, firms on 15% revenue growth target.


CPN sold 5% stake in DTC @ Bt12/share to ANAN, may book Bt42.5m gain in 1Q19. CPN still holds 17.58% in DTC post sales.

Comment: Positive for DTC as it widens the shareholder base.


ECL sees healthy demand for hire purchase in small car segment, maintain prudent approach on credit screening, mulls to curb NPL below 3.5%, target Bt4.2b new loans this year.


GFPT target 8% revenue growth driven by higher poultry selling price yoy and exports sales to China, sets Bt1.5b 3 years capex to revamp processing unit and up capacity.


GOLD anticipates 1Q turnaround after hit by SG&A on new projects launched, target new launch 28 projects worth Bt33b, eyes Bt31.4b sales, Bt19.8b revenue target.

Comment: Out of all of the property developers we were surprised to see this one decline in line with the rest of the industry given that the majority of their projects and low-rises where the demand is considered to be “real” as opposed to condominiums where the market typically believes that buyers are speculating.


PTTEP expects to wrap up 2mtpa LNG sales contract in February.


SPRC announced planned shutdown in November, capacity upgrade 10k bbl per day to complete before year end, expects energy bottom out this year.


Major shareholders of TMB and Tbank are expected to sign a MOU soon, inching towards a merger. Market’s keeping close eyes on swap ratio, but Tabloid said TMB will be valued at Bt3.5 or 1.5X BV.

Comment: Still have my doubts

  1. Pon, not mentioned in your last update and also quite stale news for now is the lowering of DSR on retail loans to 50% (to use SCB’s decided level as announced). What is amusing is that further digging we see KBANK’s mapping of DSR before adjustment in a perfect bell curve. What do you reckon this implies?

    • No debt expansion + no wage inflation = zero growth.

      SCB is the tail wagging the dog in the banking sector. And there are tonnes of fleas on these dogs…

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