BAY: 3Q net profit at Bt8.78bn, +14.5% y/y, thanks to Bt2.8bn one off gains from remeasurement of investment in TIDLOR following increase in its equity stake, NIM expanded by 23 bps y/y to 4.51% from improved loan yield & effective cost control, NPL rose to 3.49% end of Sept from 3.2% y/y mainly due to SME portfolio.

Comment: Just they sold it, and now they buy it back…well ok.

BCP reports cod-ed of VLCC berth at Sriracha refinery in Chonburi province on Oct 17, enable crude shipment of up to 2m bbl/voyage, expects cost saving from improved efficiency & flexibility in crude oil management.

Comment: We’re all watching the potential actions of the new major shareholders.

BH: The market expects solid 3Q25 driven by seasonal factors and increased inpatient volume (IDP). The hospital is expanding its international patient base particularly from Myanmar, Qatar, the UAE and Saudi Arabia to offset the decline in Kuwati patients. (Thunhoon)

Comment: There’s no G2G deal yet with Saudi, so ignore this news.

CENTEL: Stock up almost 5% as market expected gradual improvement in earnings outlooks despite y/y decline mainly stems from a one-time impairment loss from CENTEL’s investment in Cafe Amazon, Vietnam, following the discontinuation of its operations at the end of Sept. (Kaohoon)

Comment: Ah…you’re telling me that a Thai SOE (OR) thought they could expand a coffee shop business in Vietnam without the help of a government and existing locations…

CRC: It has successfully issued and offered its inaugural Green Bond, becoming the 1st Co in Thailand’s retail and wholesale sector to undertake such an issuance. In addition to the Green Bond, CRC also offered two tranches of conventional bonds to institutional investors, bringing the total issue size to Bt7.5bn. The three bond tranches – with tenors ranging from 3 to 5 years and coupon rates between 1.63% and 1.93% – garnered overwhelming demand from leading institutional investors, with total subscriptions exceeding Bt30bn, or more than four times the offering amount. (Kaohoon)

Comment: Look at those rates…thai firms will need to learn from the japanese…take these low rates and go overseas

PSL reaffirms 3Q turnaround supported by higher freight rate at $12,158/ship/d +20% q/q, sees positive momentum remain intact in 4Q driven by larger fleet size after takes delivery of 2 vessels in Oct, lifts total to 42 ships.

Comment: Until Lunar NY. Just the usual seasonality. 

SIMAT won court case against National Telecom (NT) on a disputed fiber optic lease agreement, will receive a settlement amount Bt53.23m plus 7.5% interest p.a.

Government predicts losses could total Bt100bn from disruptions to cross-border trade with Cambodia. Some report said TH businesses have lost an estimated Bt15b per month following border crossings closure.

Myanmar’s military has shut down a major online scam operation near the border with TH, detaining more than 2,000 people (no details of nationalities) and seizing 30 sets of Starlink satellite internet terminals.

Economic cabinet agreed in principal to roll out 3 measures to reduce power price to ease cost of living including community solar project, solar cell project for farmers and solar rooftop incentive for household users, will propose for cabinet approval on Oct 28.