ASAP reaffirms big jump 4Q supported by robust car rental on holiday season, S-Curve from 51% holding in Changan EV dealership business (Eternity@One), expects 1k vehicles bk during 2 week event, Motor Expo 2023, Nov 30-Dec 11, firms on Bt3.8b FY revenue target, will add 45 showrooms next year.

Comment: I’ve enjoyed my conversations w/ the CEO in the past, perhaps the most energetic w/ ideas that I’ve met in Thailand. This pump in the price today is perhaps due to this news.

BAFS target FY24 jet refueling volume +16% yoy to 5b ltr, petroleum pipeline transport +20% yoy to 900m ltr on the back of travel demand & improve economic activities.
Comment: And that’s w/ # of planes still below pre-wuflu.

BGRIM acquires Amatera Renewable Energy Corp (ARECO), 65mw solar operator in Phil for US$ 5.4m, target cod 1Q25.

EA secured Bt3.9b syndicated loan from ADB-JICA-EXIM Thailand to replace existing ICE bus to E-BUS.

Comment: …………….. god damn it Thailand………

HFT sees 4Q tires orders from EU improved aft key clients relief from excess inventory jitters, allots Bt160m to install solar rooftop, eyes 15% FY24 revenue growth target.

HMPRO plans Bt5-6bn capital expenditure to open at least 5 branches which will be closer to Bangkok city centre.

Comment: I still think outer Bangkok is the place to be for commerce. All the housing estates are there. That’s where the real household spending is.

TPIPL sees FY24 turnaround driven by recovery cement demand on jump start infra investment, wider margin from lower energy costs, sets Bt5b capex to improve efficiency to cement production line, expand building material business to enhance value.

Comment: TPI Group is actually incredibly innovative thanks to the founder. But the stigma of events 3 decades ago still hangs over his head.

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