Stocks in the news (bam, banpu, global, scgc, trt, true) 04.08.26
BAM.BK — Bangkok Commercial Asset Management PCL
Thailand’s leading specialized asset management company focused on non-performing loans (NPLs) and non-performing assets (NPAs), primarily real-estate secured, with nationwide recovery and asset management operations.
| Market Cap (THB) | 22.30 billion |
| Market Cap (USD) | 667.7 million |
| Current Price | 6.90 THB |
| 52-Week Range | 6.20 – 8.60 THB |
| P/E (TTM) | 12.3x |
| P/BV | 0.50x |
| Dividend Yield | 3.9% |
| Avg Daily Value | ~85 million THB |
Start (30 Dec 2025): 7.00 THB → End (3 Aug 2026): 6.90 THB
BAM: Expects a stronger 2H26 on improved cash collections after launching a debt restructuring programme offering principal reductions of up to 30% and 0% instalment plans for up to three years.
Comment: Woah. Now that’s what I call unclogging the poop!
BANPU.BK — Banpu Public Company Limited
Integrated energy group with core coal mining operations across Asia-Pacific, power generation (including Banpu Power), and growing renewable energy and energy-technology businesses. Recent amalgamation with Banpu Power completed.
| Market Cap (THB) | 61.9 billion |
| Market Cap (USD) | 1.85 billion |
| Current Price | 15.30 THB |
| 52-Week Range | 10.50 – 16.20 THB |
| P/E (TTM) | N/A |
| P/BV | 0.51x |
| Dividend Yield | 5.7% |
| Avg Daily Value | ~650 million THB |
Start (30 Dec 2025): 12.90 THB → End (3 Aug 2026): 15.30 THB
BANPU: Shares of the new Banpu Plc entity, following the amalgamation with Banpu Power (BPP), began trading today.
Comment: No longer the coal play it should be.
GLOBAL.BK — Siam Global House PCL
Leading home-improvement retailer operating large-format stores selling construction materials, home décor, tools, and lifestyle products across Thailand, with strong presence in provincial markets.
| Market Cap (THB) | 44.8 billion |
| Market Cap (USD) | 1.34 billion |
| Current Price | 8.00 THB |
| 52-Week Range | 5.25 – 8.44 THB |
| P/E (TTM) | 16.5x |
| P/BV | 1.45x |
| Dividend Yield | 2.7% |
| Avg Daily Value | ~320 million THB |
Start (30 Dec 2025): 6.35 THB → End (3 Aug 2026): 8.00 THB
GLOBAL: Reported 2Q26 net profit of THB955mn (+83.6% YoY), ahead of the THB683mn consensus, driven by a strong 31.6% gross margin, effective cost control, improved product mix and lower finance costs.
Comment: Woah! Now that was a surprise.
SCGC.BK — SCG Chemicals PCL
Major petrochemical producer under the SCG Group, manufacturing olefins, polyolefins, vinyl products and specialty chemicals for domestic and export markets across ASEAN and beyond.
| Market Cap (THB) | 98.5 billion |
| Market Cap (USD) | 2.95 billion |
| Current Price | 28.50 THB |
| 52-Week Range | 22.80 – 34.00 THB |
| P/E (TTM) | 18.2x |
| P/BV | 0.95x |
| Dividend Yield | 3.2% |
| Avg Daily Value | ~180 million THB |
Start (30 Dec 2025): 26.25 THB → End (3 Aug 2026): 28.50 THB
SCGC: Partnered with CPPC to launch food-grade recycled PET packaging, supporting Thailand’s circular economy initiative.
TRT.BK — Tirathai Public Company Limited
Manufacturer and service provider of power transformers and related electrical equipment, serving utilities, industrial customers and infrastructure projects in Thailand and selected export markets.
| Market Cap (THB) | 4.35 billion |
| Market Cap (USD) | 130.2 million |
| Current Price | 15.20 THB |
| 52-Week Range | 3.08 – 15.80 THB |
| P/E (TTM) | 20.4x |
| P/BV | 2.10x |
| Dividend Yield | 1.3% |
| Avg Daily Value | ~45 million THB |
Start (30 Dec 2025): 3.69 THB → End (3 Aug 2026): 15.20 THB
TRT: Reported 2Q26 net profit of THB127mn (+271% YoY), supported by 19.4% YoY transformer sales growth, 12.9% YoY service revenue growth and strong margins. Declared an interim dividend of THB0.17/share (XD: 14 Aug).
Comment: Back in the day you had 3 plays for the transformer business growth, QTC, DEMCO, TRT – now it’s just TRT – and I’ve been waiting to see when they would take off after seeing renewables because a larger part of the Thai energy grid, there is zero possibility that the current transformers are enough to sustain the intermittent power sources. TRT had a great 1Q and now followed it up with a 2Q, I was 7 years early on the thesis, now should one chase it?
TRUE.BK — True Corporation PCL
Thailand’s largest integrated telecommunications operator providing mobile, fixed broadband, digital TV and related digital services following the True-dtac merger, with extensive nationwide network coverage.
| Market Cap (THB) | 476.8 billion |
| Market Cap (USD) | 14.28 billion |
| Current Price | 13.80 THB |
| 52-Week Range | 10.20 – 15.00 THB |
| P/E (TTM) | 34.5x |
| P/BV | 6.03x |
| Dividend Yield | 2.8% |
| Avg Daily Value | ~2.8 billion THB |
Start (30 Dec 2025): 12.00 THB → End (3 Aug 2026): 13.80 THB
TRUE: Bloomberg Intelligence noted that a potential sale of China Mobile’s 7.8% stake would have minimal impact on TRUE’s operations or earnings, as it would be a secondary share sale. However, the exit of another foreign telecom shareholder could shift attention to future strategic partnerships. Following Telenor’s earlier stake transfer, the move would further strengthen TRUE’s locally anchored ownership structure. A sale to a CP-linked investor could also deepen integration with the broader CP Group ecosystem, bringing TRUE’s operating model closer to ADVANC’s partnership with GULF.
Comment: Again – nothing else matters for this group other than the expats still running the company.
Comparison Table — As of 3 August 2026 (USD/THB 33.40)
| Ticker | Mkt Cap (USD) | Price (THB) | P/E (TTM) | P/BV | Div Yield | YTD 2026 | Analysis |
|---|---|---|---|---|---|---|---|
| BAM.BK | 667.7 M | 6.90 | 12.3x | 0.50x | 3.9% | ▼ 1.4% | View → |
| BANPU.BK | 1.85 B | 15.30 | N/A | 0.51x | 5.7% | ▲ 18.6% | View → |
| GLOBAL.BK | 1.34 B | 8.00 | 16.5x | 1.45x | 2.7% | ▲ 26.0% | View → |
| SCGC.BK | 2.95 B | 28.50 | 18.2x | 0.95x | 3.2% | ▲ 8.6% | View → |
| TRT.BK | 130.2 M | 15.20 | 20.4x | 2.10x | 1.3% | ▲ 312% | View → |
| TRUE.BK | 14.28 B | 13.80 | 34.5x | 6.03x | 2.8% | ▲ 15.0% | View → |
Data as of 3 August 2026. Market caps converted at USD/THB 33.40. YTD calculated from last trading day of 2025. For informational purposes only.
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