AOT: sees no impact if Treasury department decides to scrap 50% land rent discount at 6 airports from next year as remedy package for duty free shop, tenants & airlines also coming to an end at eo-FY23, higher international arrivals, recovery aero & non-aero revenue > rescue package.
MAKRO: launched mini mart platform, BuddyMart, aims to sell franchise to expand coverage upcountry, creates value addition to existing wholesale business.
Comment: Wait what? So they’re competing against CP Freshmart and 7-11?
PSG: signed MOU with Spore partner, Keppel Energy, to explore opportunity to export hydro & solar power facilities from Laos to Singapore for the cross-border power trade.
SCC: scale back FY22 capex by 1/3 to Bt 55b from Bt 70b to preserve cash for future headwind, no concrete timing for SCG Chemical IPO aft delay offering from this year due to unfavorable mkt conditions.
Comment: Not a good sign on economic prospects when companies scale back on capex
SRICHA: gets O&G construction & maintenance contract from Dynatec Madagascar worth about Bt 1b, expecting to recover additional projects award value of around Bt 600m in near future.
SINGER: trades XB for subscription right of consumer credit subsidiary IPO, SG Capital, 1.4326:1 on Monday.
Comment: This group keeps raising capital at the right time, and the rest of their peers are going to have to offer higher rates via debentures.
TU: trades XB for subscription right of pet food subsidiary IPO, I-tail, 35.2662:1 on Monday.
Comment: Crap terms compared to what you’d get with ASIAN…
UOB: completing Citi acquisition in TH & Malaysia on November 1; VN and Indonesia by eo-FY23.
Comment: Looking fwd to seeing my credit card turn into a UOB card….