ASAP anticipates FY24 turnaround after scaling back rental fleets to 10k vehicles from 20k last year to mitigate impact from heavy depreciation on used car market, diversification to EV dealership business provide cushion.

Comment: Shocking…-50% in the fleet? That’s going to hurt the rental market…rental rates are going to go high…(for tourists)

CHAYO reported Bt400m bad debts added in 1Q, target to buy Bt10b-15b this year to keep NPL portfolio >Bt110b, firms on plan to list subsidiary, Chayo Capital (CCAP) in 4Q, expects to wrap 2 NPAs sales by end of 2Q.

Comment: Yeah nothing…I used to call them a B grade version of JMT, with the owners lack of focus, it’s a D grade version of JMT.

JAS announced buyback up to 300.748m (3.5% of paid-up) at Bt5/share from general shareholders under Bt1.504b budget from Jun 25 till Jul 23, 2024, issues free warrant (JAS-W4) 4.146b units for existing holders at 2:1.

Comment: I mean…why? Just pay it out…whatever happened to shareholders enjoying cash in the pocket?

JPARK targets 40k parking slots under management by end of year, +30% yoy from current 29.5k slots, 2 contracts (600 slots for Khonkaen airport & 2k slots for One BKK) to boost 2Q momentum, expects more to come in 2H from 10k remaining slots from One BKK expansion phase.

Comment: Still think this is worth more…will have to meet them..

PTTEP: results out Thur, Bt18.44b consensus.

SCC: to report 1Q net profit on Wed, Bt2.26b consensus.

SCC’s unit, SCG Plastic, agreed to pay US$20m fine to US Treasury for violating sanctions against Iran, no impact on SCC’s FY24 earnings as already provided for in FY23. SCG Plastics is currently in liquidation process.

Comment: SCC – I’m impressed.

TIDLOR: pays Bt0.137 cash & 27:1 stock dividend, XD Apr 24.

Comment: A stock divvy?? WTF THIS ISN’T VIETNAM

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