Stocks in the news (aot, bem, cbg, ner, symc) 18.02.26
Airports of Thailand Public Company Limited is the leading airport operator in Thailand, managing six international airports including Suvarnabhumi and Don Mueang. The company provides comprehensive airport services, including aircraft landing and parking, passenger service charges, and commercial concessions, serving as the primary gateway for Thailand’s tourism and logistics sectors.
AOT: Scandinavian Airlines (SAS) is deploying A350 aircraft to increase frequency and seat capacity on Asia routes, with Bangkok receiving a 15% boost. New nonstop routes from Copenhagen to Phuket and Krabi are aimed at capturing both business and leisure demand from Scandinavia and northern Europe.
Comment: Still a lot more to come.
Bangkok Expressway and Metro Public Company Limited is a major transportation infrastructure provider in Thailand. The company holds concessions for the construction and operation of several expressways in Bangkok and its vicinity, while also operating the MRT Blue Line and Purple Line mass transit systems and managing commercial retail space within the transit stations.
BEM: Street expectations remain constructive, with analysts looking for record-high net profits through 2026, supported by strong expressway and mass transit traffic amid tourism recovery. Potential upside could come from the government’s proposed “THB40 fare” policy, which may lift ridership.
Comment: BEM > BTS as a transit play
Carabao Group Public Company Limited is a global manufacturer and distributor of energy drinks and non-alcoholic beverages. Known for its “Carabao Dang” flagship brand, the company operates a vertically integrated model covering production, packaging, and an extensive distribution network across Thailand, Southeast Asia, and international markets including China and the United Kingdom.
CBG: Management sees political stability under a new government as supportive of purchasing power. The Cambodian factory is now operational, resolving prior export bottlenecks. The company is also pushing lightweight glass bottle production to enhance margins and expanding further into the Middle East.
Comment: Now the question is whether the anti-thai sentiment so strong that they cannot recover their market share – or will they have to purely be an OEM for a new local brand
North East Rubber Public Company Limited specializes in the production and distribution of high-quality processed natural rubber products, including Ribbed Smoked Sheet (RSS), Standard Thai Rubber (TSR), and Mixture Rubber. The company primarily serves the automotive tire manufacturing industry and global rubber traders, operating large-scale processing facilities in Northeast Thailand.
NER: Expects record-high revenue above THB30bn this year, driven by orders from six Chinese EV makers relocating production to Thailand. Additional rubber capacity of 550ktpa from a new plant will commence in 4Q26, lifting total capacity to 870ktpa.
Comment: Still a great little rubber play.
Symphony Communication Public Company Limited is a leading fixed-line telecommunication network provider in Thailand. The company operates an extensive high-speed fiber optic network providing connectivity services, managed security, and data center solutions to domestic and international carriers, internet service providers, and large enterprise corporate clients.
SYMC: Expects a FY26 turnaround supported by new network connections following the completion of several data center projects in Thailand. The company is in discussions with Tencent Cloud and Alibaba Cloud and sees further upside from corporate demand for cloud and cybersecurity solutions
Comment: They haven’t done anything in a decade.
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