Note: I’m adding these Company Descriptions – takes a few extra minutes work with some of the AI help but I find it useful

BBL highlights 5 mega trends that will shape the future of ASEAN in 2026, addressing challenges such as geopolitical tensions, global trade shifts, technology, climate change, and demographic changes.

Comment: Climate change? As if this dinosaur bank cares, other than as an avenue to generate new fees from silly green bonds

BEM is poised to sell sustainable bonds to invest in clean energy transportation projects after receiving an A credit rating from Fitch, indicating a potential reduction in financing costs. The Co affirms its strong business fundamentals and continued growth in its electric train network, driven by anticipated increases in passenger numbers. New electric trains and the opening of the Orange Line in 2028 are expected to accelerate growth.

Comment: How amusing, BEM selling sustainable bonds after the above – nevertheless great for them, lower financing costs

GTB wins biomass power plant project valued at Bt200m.

ITD -3.85% and could see continued price pressure as CN claims the CN-backed high-speed rail crane-collapsed portion is under TH contractor supervision. At least 32 were killed and more than 64 injured. The high-speed rail line is being built to link TH to CN through Laos by 2030 under Beijing’s Belt and Road Initiative. The section that runs through TH will be 609km (378 miles) and connected to the Laos-China line via a bridge built over the Mekong River. Estimate to cost at $13b. ITD, the main contractor, stated that it assumes full responsibility and to provide financial assistance to those affected. 

Comment: Going from panther killer to human killer quite well.

JKN TB (SP): JKN18TV announces it will cease broadcasting on January 26, 2026, following legal and financial challenges, including SEC delisting

KTC: FY25 @ Bt7.78b, +4.7% yoy, topped Bt7.58b estimate, 4Q came in at Bt2.07b beats Bt1.88b consensus.

Comment: Cost cutting all around….where’s the growth here?

KBANK shares insights and views for 2026 ahead of its results next week. Although it recorded positive new loan growth last year, loan repayments significantly exceeded new lending, hence it expects total outstanding loans to remain flat. For 2025, it guided flat loan growth after total outstanding loans -2.74% 9M25 vs end-24. Kasikorn Research Center expect total outstanding loans in the banking sector -0.7% in 2026, marking a 3rd consecutive year of decline; dragged mainly by SME and retail loans, which are estimated to -4% and -1%, respectively, while corporate lending is expected at +2%.

PTTEP is preparing to build Thailand’s first carbon capture and storage (CCS) facility at its Arthit gas field this year, marking a major step in the country’s efforts to cut greenhouse gas emissions and reach its net-zero target. The CCS system is expected to trap emissions during the gas separation process and store them deep underground in reservoirs located 1,000-2,000 metres below the surface.

Comment: PTTEP is so well positioned at the moment…