BA concluded deal w/ THAI to joint dvlp MRO (maintenance, repair, overhaul) hub at U-Ta-Pao airport in EEC area. Mgmt insists that U-Tapao Aviation City project will go ahead without waiting for the high-speed rail. It’s proposed adjusting its investment plan and reviewing its benefits to ensure they are relevant to the post-COVID era. It expects to receive a response from the EEC in Q3 2026, and is prepared to terminate the project if there is no progress. The aircraft maintenance center is expected to receive approval in 2026, a move that is highly anticipated. (Thunhoon)

Comment: Given the capital invested in this project – it would be painful for all parties if it doesn’t go ahead.

CPF acquires 60% stake in veterinary diagnostic testing pdt, Wuhan Huateng Jikang Bio-tech, for Bt 31m, transaction is expected to be completed w/in Dec.

Comment: CPF taking a stake in a biotech firm in WUHAN. >< Jokes aside no idea about this ChinaCo.

DELTA begins construction of new factory in Araya Industrial Estate Samut Prakan, the third pdtn site in TH, new facilities will accommodate capacity expansion for custom pdts biz group, EVs and AI-related pdts, t/g cod by eo-FY27.

Comment: When someone can disclose to me how exactly they do transfer pricing then I’ll bet the farm on this…

EGCO upbeats FY26 outlook frm full yr recognition of 503mw Quezon thermal pp in the Phil, higher contribution frm Pinnacle II renewable portfolio in the US and larger stake holding in 980mw Linden Cogen pp to 38% frm 28% following shr purchased in Oct.

Comment: And they are realising value on their indo holdings.

GULF rpts cod-ed of 2 solar pj in Buriram & Sukhothai province total 85.8mw on Dec 1.

FLOOD: Latest flood relief measures are 1) 0% interest loans and debt moratoriums for flood-hit households and SMEs, 2) Up to Bt2m compensation per fatality in emergency zones, 3) 0% interest loans up to Bt100k for home repairs.

State Railway (SRT) opens bid for Red line extension phase 2 (Rang Sit – Thammasat Uni: Bt6.064b) and (Siriraj – Talingchan: Bt14.72b) bid submission last till Dec 28, e-bidding on Dec 29, result out in Jan.

Tourism authority (TAT) expects European arrivals to hit rec high above 8.8m nxt yr driven by new direct flights attributed to its airline strategy, sees no impact frm strong THB among European visitors as the euro also appreciated against other crrcy, teams up w/ Norse Atlantic, Condoe, TUI, British Airways and Air France to roll out joint promo.

Politics: A new Suan Dusit Poll (reported by The Nation) shows the opposition leading the Nov political index, with the overall score down to 3.9 (from 4.02) as confidence slips across indicators despite the “Let’s Go Halves Plus” stimulus. Meanwhile, Pheu Thai Party is now less incline to launch a censure motion again the Govt, as it may backfire and hurt its popularity. The public seems to want the Govt to focus on stimulus program aiming at rehabilitating the flood-hit Southern provinces and stick to the previous timeline for a House dissolution by end of Jan.