BAFS signs JV OR to establish Global Aero Associates to expand jet fuel services in U-Ta-Pao airport EEC, target cod FY25.

Comment: Just imagine the scenario in 5-10 years. Don Muang booming, Suvarnabhumi booming, and U-ta-pao benefiting from the EEC and growth of the Eastern Seaboard region. And then figure out what you would pay for a company that basically has a strong monopoly in these airports.

BAY’s card unit, Krungsri First Choice, target FY21 4% spending growth yoy >Bt75b by end of year, full year NPL drops to 2.6%, maintained expansion approach via mobile app & online channel.

CPALL launches campaigns on ready meal & All Café, sees contribution from 7-11 delivery now at 10% of total sales, will finalize plan on Cambodia expansion by end of year.

Comment: They have pulled back on expansion plans in Thailand. Cambodia is a q mark for the time being. I wouldn’t be surprised to see this share price at the hundreds in 3-5 years.

ILM revamps online channel to boost sales, mulls selling franchise Index Living Mall furniture & living products in Bruni & Indonesia to capture oversea markets & diversify risk, will finalize plan before end of year.

NER’s firm on breaking Bt24.5b its sales target this year, and reaching Bt33b in 3 years, on higher capacity and sales.

OR will miss expansion target this year due to covid. Will be able to open 95 new service stations at home vs 110 planned, 45 of 52 and 51 of 56 Cafe Amazon abroad. Yet closures of business in malls had boosted interests in commercial space at its service stations. Mulls >10 M&A & JV deals in F&B and online business, maintained Bt74.6b 5-year capex, firms on plan to add 420 Café Amazon & 10 Texas Chicken, Bt40b free CF & low gearing ensure sustainable growth.

Comment: Every company has pulled back on CAPEX excl a few sectors (anything tech/health related).

PSH: 7 residential projects total Bt6b schedule to transfer in 4Q, firms on Bt32b FY21 revenue target.

RBF sees stronger 2H on higher sales, lower costs and absence of losses from hotel business, firms on 10-12% revenue growth target this year, on track to build 2nd phase Indonesian plant with Bt200-250m capex.

Comment: We missed the opp to buy this on its dip from the disappointing 2Q and the general market performance.

TASCO denied any wrongdoing in money laundering cases involving a US co in US State Department’s sanction on Venezuela.

TU reaffirms record profit this year, after 51% growth in 1H, trades Bt0.45 XD on Monday, to spin-off TU Feedmill and list on SET this year, will use proceed to expand capacity animal feed mills & aquaculture products, new plant in Indonesia, M&A.

Comment: Treat it like a commodity player. They’ve been talking about going to higher value added products for over a decade and haven’t succeeded. Though I look forward to being proven wrong.

TACC launches new drink menu in All Café at 7-11, Blueberry Crumble.

TWZ: JV AA Bio to establish Siam Medical Cannabiz to expand hemp business.

Comment: There must be something dirty going on here. Wouldn’t be surprised to see them pump the share price.

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