Stocks in the news (bam, gpft, mother, tnp, delta, kce, hana, ccet) 25.05.26
Bangkok Commercial Asset Management Public Company Limited operates as an asset management company in Thailand. The company purchases or transfers non-performing loans (NPLs) and non-performing assets (NPAs) for management, disposal, or transfer. It focuses on debt negotiation and adding value to collateral from auctions. Founded in 1998 and headquartered in Bangkok.
| Market Cap (THB): | 20.685B |
| Market Cap (USD): | ~$0.64B (at ~THB 32.40/USD) |
| Current Price: | THB 6.40 (as of 22 May 2026 close) |
| 52-Week Range: | THB 6.10-8.60 |
| P/E Ratio (TTM): | 11.4 |
| P/BV: | 0.46x |
| Dividend Yield: | 7.8% (latest indicated) |
| Avg Daily Value: | THB 50M-80M |
BAM sees an improved financial position, with D/E below 2% and debt reduced from THB90bn to around THB70bn. The company targets THB2bn net profit this year, with THB500m expected in 2Q and THB700m in both 3Q and 4Q, supported by JV plans with four major partners. Management also announced organizational reforms aimed at accelerating debt restructuring and improving NPL resolution efficiency.
Comment: C’mon BoT, get the banks lending again…get that national AMC up and running so that the poop in the financial system can finally be unclogged.
GFPT Public Company Limited, together with its subsidiaries, produces and distributes frozen and cooked chicken products in Thailand. It engages in chicken farming, processing, and feed production. The company also exports its products. Founded in 1981 and headquartered in Bangkok.
| Market Cap (THB): | 10.783B |
| Market Cap (USD): | ~$0.33B (at ~THB 32.40/USD) |
| Current Price: | THB 8.60 (as of 22 May 2026 close) |
| 52-Week Range: | THB 8.25-11.00 |
| P/E Ratio (TTM): | 4.7 |
| P/BV: | 0.49x |
| Dividend Yield: | 2.3% (latest indicated) |
| Avg Daily Value: | THB 15M-25M |
GFPT targets 8,000 tons of chicken exports focused on the EU and England, alongside THB1.2bn-THB1.5bn capex plans covering its new chicken meat processing plant and additional broiler farms in Chonburi. The company targets processing capacity of 150,000 birds/day and expansion of cooked chicken and feed production capacity.
Comment: Still the same quiet steady chicken player that one buys when it drops to 10 and sells at 15. (=/- 5-10%)Â Â
Mother Marketing Public Company Limited is engaged in the retail and wholesale of consumer products in Thailand. It operates stores and provides consumer goods under the Mother brand.
| Market Cap (THB): | 346M |
| Market Cap (USD): | ~$0.01B (at ~THB 32.40/USD) |
| Current Price: | THB 1.21 (as of 22 May 2026 close) |
| 52-Week Range: | THB 0.89-1.60 |
| P/E Ratio (TTM): | 12.9 |
| P/BV: | 1.24x |
| Dividend Yield: | 2.8% (latest indicated) |
| Avg Daily Value: | THB 2M-4M |
Thanapiriya Public Company Limited, together with its subsidiaries, operates retail and wholesale superstores in Thailand under the Thanapiriya brand. It is involved in the wholesale and retail of consumer goods and real estate activities. Founded in 1965 and headquartered in Chiang Rai.
| Market Cap (THB): | 2.4B |
| Market Cap (USD): | ~$0.07B (at ~THB 32.40/USD) |
| Current Price: | THB 3.00 (as of 22 May 2026 close) |
| 52-Week Range: | THB 2.18-3.52 |
| P/E Ratio (TTM): | 11.1 |
| P/BV: | 1.78x |
| Dividend Yield: | 3.7% (latest indicated) |
| Avg Daily Value: | THB 5M-10M |
MOTHER & TNP: Provincial retailers continue to benefit from the “Thai Helps Thai Plus” program, which subsidizes 60% of costs and injects liquidity into the system from June onward. MOTHER is increasing inventory by 20% to meet stronger demand for essential goods, while TNP expects government measures to drive 10-20% sales growth and plans to expand by four additional branches.
Comment: Stimulus baby! The domestic economy hasn’t been able to run without it since 2018
Delta Electronics (Thailand) Public Company Limited researches, develops, manufactures, and distributes electronic products including power electronics, mobility, infrastructure, and automation solutions. It offers power supplies, fans, motors, EV systems, and renewable energy solutions. Operates globally and headquartered in Samut Prakan, Thailand.
| Market Cap (THB): | 4,141B |
| Market Cap (USD): | ~$127.8B (at ~THB 32.40/USD) |
| Current Price: | THB 332.00 (as of 22 May 2026 close) |
| 52-Week Range: | THB 91.25-337.00 |
| P/E Ratio (TTM): | 145 |
| P/BV: | 38.2x |
| Dividend Yield: | 0.2% (latest indicated) |
| Avg Daily Value: | THB 4,000M-6,000M |
KCE Electronics Public Company Limited manufactures and distributes electric printed circuit boards (PCBs) under the KCE trademark. It operates in manufacturing prepreg, laminate, and chemical products for PCBs used in automotive, industrial, computer, and telecom systems. Founded in 1982 and based in Bangkok, Thailand.
| Market Cap (THB): | 41.078B |
| Market Cap (USD): | ~$1.27B (at ~THB 32.40/USD) |
| Current Price: | THB 34.75 (as of 22 May 2026 close) |
| 52-Week Range: | THB 14.60-35.25 |
| P/E Ratio (TTM): | 48.9 |
| P/BV: | 2.87x |
| Dividend Yield: | 3.5% (latest indicated) |
| Avg Daily Value: | THB 1,000M-1,500M |
Hana Microelectronics Public Company Limited engages in the manufacture and trading of electronic components, including PCB assemblies, IC assemblies, LED packaging, and electronics manufacturing services (EMS). It operates globally with facilities in several countries. Founded in 1978 and headquartered in Bangkok, Thailand.
| Market Cap (THB): | 31.21B |
| Market Cap (USD): | ~$0.96B (at ~THB 32.40/USD) |
| Current Price: | THB 35.25 (as of 22 May 2026 close) |
| 52-Week Range: | THB 15.10-36.50 |
| P/E Ratio (TTM): | 103.7 |
| P/BV: | 1.14x |
| Dividend Yield: | 2.8% (latest indicated) |
| Avg Daily Value: | THB 1,200M-1,800M |
Cal-Comp Electronics (Thailand) Public Company Limited is engaged in the manufacture of electronic products such as computer peripherals, telecommunication equipment, and automation equipment. It produces printers, PCBA, storage devices, set-top boxes, and more.
| Market Cap (THB): | 85.69B |
| Market Cap (USD): | ~$2.64B (at ~THB 32.40/USD) |
| Current Price: | THB 7.95 (as of 22 May 2026 close) |
| 52-Week Range: | THB 4.14-8.25 |
| P/E Ratio (TTM): | 43.2 |
| P/BV: | 2.5x |
| Dividend Yield: | 4.6% (latest indicated) |
| Avg Daily Value: | THB 2,000M-4,000M |
TECH SECTOR: Following the recent AI-driven rotation in electronics, DELTA remains viewed as the key beneficiary, although concerns remain over potential Cash Balance restrictions that could divert trading flows into other names. KCE stands out on clearer earnings visibility, while HANA faces rising pressure and Cash Balance risks. CCET remains a secondary AI-related play but appears relatively undervalued.
Comment: Delta…continues to pump, taiwanese diverting business to Thailand, CCET story well known since last year (this year’s #’s are just from a delay in factories getting up and running), HANA – all bets on phononics – seems like it’ll work out (and writing off their korean investment)
Comparison Table
| Ticker | Mkt Cap (USD) | Price (THB) | P/E (TTM) | P/BV | Div Yield | YTD 2026 | Analysis |
|---|---|---|---|---|---|---|---|
| BAM.BK | ~$0.64B | 6.40 | 11.4 | 0.46x | 7.8% | ▼ -20.0% | View → |
| GPFT.BK | ~$0.33B | 8.60 | 4.7 | 0.49x | 2.3% | ▼ -18.9% | View → |
| MOTHER.BK | ~$0.01B | 1.21 | 12.9 | 1.24x | 2.8% | ▲ +6.1% | View → |
| TNP.BK | ~$0.07B | 3.00 | 11.1 | 1.78x | 3.7% | ▲ +11.9% | View → |
| DELTA.BK | ~$127.8B | 332.00 | 145 | 38.2x | 0.2% | ▲ +92.3% | View → |
| KCE.BK | ~$1.27B | 34.75 | 48.9 | 2.87x | 3.5% | ▲ +90.9% | View → |
| HANA.BK | ~$0.96B | 35.25 | 103.7 | 1.14x | 2.8% | ▲ +116.3% | View → |
| CCET.BK | ~$2.64B | 7.95 | 43.2 | 2.5x | 4.6% | ▲ +75.9% | View → |
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