AP: K-ASSET raised holding by 0.1212% to 5.1039% of total o/s, SEC filing.

Comment: I find it interesting that now the news is reporting what the institutions are doing, are we going to see a situation in Thailand similar to the US that institutions become major shareholders as family’s reduce their holdings. Plus these announcements seem to have a positive impact on the share prices

BAM: K-ASSET raised holding by 0.3374% to 5.1635% of total o/s, SEC filing.

Comment: See above + BAM still has a greenshoe option in the IPO which is supposed to expire in a week or 2. AWC was the first to do this and their share price went nowhere, BAM’s on the other hand has performed decently.

BEM accepts deal to extend concession by 15 yr 8 months in exchange for dropping a lawsuit against EXAT, being submitted to Attorney General for approval next wk.

Comment: Mathematically this is positive for BEM

BOT’s expected to relax the LTV rules within this month, allowing up to 100% LTV, good for Props and Banks, Tabloid.

Comment: If true (which I doubt – a central bank changing their mind this quickly?) watch all the property names comfortably do +30%

GUNKUL to buy remaining 33% of Infinite for Bt780m from SUPER to take fully ctrl of 87mw solar farm.

IHL sets 20% rev growth t/g this yr, on rev recognitions of leather tanning (footwear) while in talks with 7 shoe brands from the US and EU.

JKN mulls to expand JKN-CNBC biz news online platforms to expand coverage 24/7 via mobile devices.

SUSCO m/t 50% dividend payout policy, upbeat FY20 earnings from larger profit sharing from Starbucks, KFC, SUBWAY, MEZZO & D’Oro café, to expand Lawson to boost non-oil rev, sets Bt500m budget to add stations to 270 from current 239 by eoy.

Comment: Performing admirably and yet the share price goes nowhere.

SPALI to launch Bt522m SDH pj, Supalai Bella Rama 2, focusing on real demand, pre-sales kick off Jan 18-19.

SVOA wins a 5yrs contract to lease 2,130 ADM recycling machines to Govt Saving Bank worth Bt1.565b.

SUPER to acquire Sri Naga Power preferred shrs for Bt290m, will take full ctrl of 36mw pp post transaction, announces Bt1.58b (USD51.15m) investment in 50mw VN solar pj in Phu Yen province.

UTP reaffirms big jump this yr from strong demand for paper packaging on plastic ban and wider margins on lower import costs of raw mat, thanks to strong THB.

Comment: Didn’t think about this, but yes if paper is a substitute for plastic, which it isn’t, but perhaps there could be a decent marginal increase in demand for UTP’s products.

  1. Funny tidbit for PTG, an in law family member recently sold out of a gas station venture that he said was losing about 2 million baht per year after being profitable for nearly a decade. Got no decent bids on it until PTG stepped in and snapped it up for a reasonable price.

    They kept the current staff on and they told my in law the place is dead and losing more money than before the take over. I wonder if this aggressive expansion is still paying dividends for PTG?

    • Net-net it appears to still be a yes.

      Plus it helps to have a family member in the government pushing through new oil projects that will utilise PTG’s palm oil complex.

      • Irrespective of shareprice performance, if you,look at Susco now they have well diversified til the point that wholesale oil exports make up over half their revenue and continues to outpace domestic oil sales growth by about double the rate. If they can maximize non oil revenues then this name will indeed go from value trap to value investment given the yield is over 5% by my estimation.

        Also, I see this name as a prime take over target if and when consolidation starts to occur in this industry.

        • Oil exports growth for SUSCO has mainly come from Cambodia. They are selling to the major petrol station co’s there.

          Not sure about consolidation – I think its been whispered in the past that PTG would acquire them but it hasn’t materalised.

          Risk re susco is that it will forever remain a small cheap co except for the rare moments when it will shoot up (happened 2x in the past 6 years)

  2. Pon, is there any specific reason for the latest weakness in Samtel? Just wanted to know if I’m missing something or is it just general market weakness seeping through to IT?

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