Stocks in the news (ba, bcp, or, bem, kkp, pttgc, pr9) 30.03.26
Bangkok Airways Public Company Limited operates as a regional airline and boutique airport owner in Thailand, offering domestic and international air transportation services and operating Samui, Sukhothai, and Trat airports to support the country’s tourism infrastructure.
BA: adopting cautious stance for 2026, focus on route performance and cost structure to m/t profitability and operational balance, plans to oper 48 k flight for FY26 -2% yoy, load factor of 80% up from 76% in 2025, fare will rise by 15-20% from Apr 1 due to higher fuel cost, 30% oil hedging to reduce impact.
Comment: “demand destruction” I was hoping for a cheaper stock price for BA…
Bangchak Corporation Public Company Limited is a leading energy conglomerate in Thailand, operating complex oil refineries and a broad network of service stations alongside diversified interests in renewable power generation, bio-based products, and natural resource exploration.
PTT Oil and Retail Business Public Company Limited (OR) is the retail flagship of the PTT Group, managing an extensive network of fuel service stations and a market-leading non-oil business portfolio that includes the Café Amazon coffee chain and various international food franchises.
BCP & OR: Both companies resumed commercial sales of B20 biodiesel after nearly four years as Thai authorities intensify efforts to diversify energy sources and reduce reliance on imported oil. The relaunch comes as diesel prices climb sharply amid the Middle East conflict. B20 is cheaper than B5, the more widely used biodiesel containing 5% methyl ester, by Bt5/litre
Comment: Thailand is in a decent position relative to several other countries in the region. Let’s see, refiners are still making bank.
Bangkok Expressway and Metro Public Company Limited (BEM) is a key infrastructure operator in Thailand, managing the construction and operation of expressways and the MRT Blue and Purple metro lines, providing essential mass transit solutions for the Bangkok Metropolitan Area.
BEM: reaffirms solid Q1 driven by strong expressway traffic and MRT ridership on the back of soaring energy px, psx numbers on the Blue Line consistently exceed 500,000 trips/d on weekdays, Q2 2026 outlook suggests con’t growth due to increased urban travel and longer stays in Thailand, supported by higher fuel prices and increased use of EV on expressways.
Comment: How’s this for an (un)amusing thesis – one can’t travel domestically because fuel prices are too high, so you’re stuck traveling within bangkok = higher fees for the expressways.
Kiatnakin Phatra Bank Public Company Limited is a leading commercial bank in Thailand that offers comprehensive financial services, including commercial banking and capital market services through Phatra Securities. It is highly regarded for its wealth management and investment banking expertise.
KKP: revised up EV hire-purchase to 3-4% of portfolio frm 1% previous t/g, will focus on Tesla, Kia, Volvo and Mazda, expects EV dmd con’t to accelerate in 2Q.
Comment: Hmmm, it doesn’t matter imo as it won’t shift the needle this year.
PTT Global Chemical Public Company Limited (PTTGC) is PTT Group’s chemical flagship and a major global producer of petrochemicals and biochemicals, providing high-quality products for industries such as automotive, electronics, and sustainable packaging.
PTTGC: completed Bt 9.24b strategic disposal of tank farm, jetty infra-assets, will lease back storage tanks, jetty and facilities to support operations.
Comment: If it wasn’t for PTT Group’s financial backing, this is a dead entity – there’s value in being an SOE/national security entity. See TOP.
Praram 9 Hospital Public Company Limited operates a leading general hospital in Bangkok, recognized for its expertise in complex medical procedures, including kidney transplantation, heart surgery, and comprehensive obstetric care for both local and international patients.
PR9: opened premium kidney dialysis services to fill dmd for personalized care, new Biplane cardiac 3D X-ray for heart diseases to cod in 3Q, ICU Stroke Unit start oper in 4Q, mulls expand robotic surgery center, up capacity of ICU to accommodate higher traffic.
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