Stocks in the news (bafs, bcp, ptg, bbl, rbf, synex, true) 07.04.26
Bangkok Aviation Fuel Services Public Company Limited provides aviation fuel storage and refueling services, primarily operating at Suvarnabhumi and Don Mueang airports. The company also manages fuel pipeline systems and provides technical aviation services, positioning itself as a critical infrastructure provider for Thailand’s aviation and tourism sectors.
BAFS : The jet refuelling provider has urged the government to exempt jet fuel from the excise tax of THB4.72/litre, warning that the levy undermines Thailand’s aviation competitiveness. Management noted that short-haul and international airlines in Southeast Asia are exploiting loopholes to avoid refuelling at Thai airports, where the tax inflates operating costs and airfares.
Comment: Everyone is asking for a handout….and so when will inflation come to hit? BAFS has the fuel pipeline coming online this year that connects the North to the main fuel supplies in the center.
Bangchak Corporation Public Company Limited is an integrated energy company with core businesses in petroleum refining, fuel marketing through gas stations, and green power generation. It is a key player in Thailand’s energy transition, expanding into bio-based products and natural resource exploration.
BCP : The company is nearing resolution of its capital-related allegations on 10 April. The Thai Investors Association is urging shareholders to amend board qualification rules, requiring directors to have no criminal accusations or asset freezes by the Anti-Money Laundering Office (AMLO). Experts believe the proposal will pass easily, even with a three-quarter majority vote, and help restore confidence in BCP. However, concerns remain over pressure on refineries, with some warning that government actions could lead to oil shortages and suggesting waiting for prices to ease.
Comment: Once the issue with the dodgy shareholders is fixed then, well, the share price has already recovered.
PTG Energy Public Company Limited operates fuel service stations under the ‘PT’ brand and provides related services, including convenience stores and coffee shops. The company focuses on expanding its non-oil business and logistics infrastructure to diversify revenue streams across Thailand.
PTG : The company has dismissed speculation that it was hoarding fuel for profit, adding that it has no plans to pursue legal action against those spreading the allegations.
Comment: Well I may be biased as I’ve met K. Pitak several times back in the day. And considered him to be a solid CEO and business owner. Whether his older brother who sits in gov plays a fool – I wouldn’t disagree – but I doubt it is within this plc.
Bangkok Bank Public Company Limited is Thailand’s leading commercial bank and one of the largest in Southeast Asia. It provides comprehensive financial services to corporate, SME, and retail customers, with a significant international footprint and dominance in corporate lending.
BBL : The bank is encouraging Thai businesses to expand into India to reduce reliance on the US market amid rising geopolitical risks and escalating global trade tensions.
Comment: Incredible indiaaaa, the macro is $hit for india at the moment, that story is gone, until Iran is fixed.
R&B Food Supply Public Company Limited is a leading developer and manufacturer of food ingredients, including flavors, fragrances, and breading products. It serves food and beverage manufacturers globally, specializing in innovative taste and texture solutions for the consumer goods market.
RBF : 2M26 sales rose y/y, supported by effective cost control, adequate inventory, and efficient logistics, despite disruptions from the Middle East conflict. Its new plant in China remains on track for COD in 4Q26.
Comment: Will this former stock darling return to its previous glory?
Synnex (Thailand) Public Company Limited is the largest distributor of IT products and solutions in Thailand. Representing over 60 global brands, it serves a vast network of dealers and retailers, providing products ranging from consumer electronics to enterprise cloud infrastructure.
SYNEX : Despite intensifying economic pressures and a cooling consumer market, the company is maintaining its 10% growth target this year, aiming to reach THB53bn in annual revenue through a strategic pivot toward high-value technology, AI infrastructure, and renewable energy solutions.
Comment: They’re still going to make bank…
True Corporation Public Company Limited is a leading telecommunications and digital services provider in Thailand. Formed by the merger of True and dtac, the company offers mobile, broadband, and digital TV services, serving a massive subscriber base with nationwide 5G and fiber networks.
TRUE : True Digital Academy has partnered with global tech consultancy Thoughtworks to help local companies transition to AI-first enterprises.
Comment: Right…helping themselves first and all their subs and associate companies
Summary Table
| Ticker | Price (THB) | YTD Performance | Trend (3M) | Consensus | Analysis |
|---|---|---|---|---|---|
| BAFS | 8.35 | +0.0% | 📈 | Hold | Link → |
| BCP | 36.50 | +54.8% | 📈 | Buy | Link → |
| PTG | 8.50 | +8.8% | 📈 | Buy | Link → |
| BBL | 166.00 | -2.4% | 📉 | Strong Buy | Link → |
| RBF | 4.00 | +11.4% | 📈 | Hold | Link → |
| SYNEX | 9.55 | +6.7% | 📈 | Buy | Link → |
| TRUE | 14.40 | +70.6% | 📈 | Buy | Link → |
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