Stocks in the news (asefa, bvg, ktc, leo, prm, smd, trubb, wiik) 17.02.23
ASEFA announced buyback up to 17m shares account for 3.09% of paid-up under Bt70m budget for 6 months period from March 1 until end of Aug.
Comment: That’s odd, not sure why, valuations don’t look unreseaonable.
BVG: automates motor claims platform & software solutions, Blueventure Group, debuts IPO 157.5m shares @ Bt 3.85, KGI leads
Comment: I have no idea what they do, but it’s a new IPO, small float, big pop!
KTC upbeats outlook from surging KTC-Alipay payment services, allowing Chinese customers to pay for goods & services via Alipay QR code, recovered joint promotion with Alipay, expects on/offline merchants in portfolio +20% yoy, target Bt100b card spending this year.
Comment: They are back, and they are spending. The only q is whether or not this stays in the econ.
LEO’s scaling up non-freight business to diversify rev sources, mitigate risk from freight rates decline, expects self storage revenue jump from resumption of tourism, upside from sourcing agent of products from TH to China.
PRM sees positive momentum on tanker demand supported by jet fuel transport, upbeat 2Q earnings from additional capacity from new vessel scheduled to receive in March, eyes 10% revenue growth target.
Comment: Still one of the easiest ideas from last year.
SMD: med devices rental/hire-purchase & leasing subsidiary, Servehealth, started operation.
TRUBB sets 10-15% revenue growth target this year, on China reopening and recovery in local purchasing power, sets capex for 60 new machineries to replace aging ones for 15% capacity increases.
WIIK, via its 94.16% subsidiary Wiik Water, paid Bt25.4m for a 51% stake in Southern Consultant and Construction (SC&C) to joint investment in 2 water projects in Phuket.