Stocks in the news (bcp, cpaxt, crc, pttgc, scc, thani) 10.08.26
BCP.BK — Bangchak Corporation
Integrated energy company engaged in oil refining & marketing, biofuels, green power and natural resources businesses in Thailand and regionally.
| Market Cap (THB) | 66.57 bn |
| Market Cap (USD) | 2.00 bn |
| Current Price | 45.50 THB |
| 52-Week Range | 24.20 – 46.00 |
| P/E (TTM) | ~6.0x (fwd) |
| P/BV | ~0.87x |
| Dividend Yield | ~2.8–3.2% |
| Avg Daily Value | ~THB 650–750 mn |
BCP: Bt12.23b +578% yoy, beat Bt7.32b consensus, thanks to strong operation across business unit (upstream O&G, refinery & marketing), market GRM & net marketing margin reached $18.41/bbl (+314% yoy, -1%qoq), and Bt1.26b/l (+73% yoy, +73% qoq) respectively, driven by limited refinery product availability due to supply constraints & low global fuel inventories.
Comment: If the shareholders weren’t dodgy it’d be 60-80/share.
CRC.BK — Central Retail Corporation
Multi-format, multi-category retailer operating department stores, hypermarkets, specialty stores and online platforms in Thailand, Vietnam and Italy under the Central Group ecosystem.
| Market Cap (THB) | 158.31 bn |
| Market Cap (USD) | 4.77 bn |
| Current Price | 26.25 THB |
| 52-Week Range | 16.50 – 27.75 |
| P/E (TTM) | ~22.5x |
| P/BV | ~2.3x |
| Dividend Yield | ~2.0–2.7% |
| Avg Daily Value | ~THB 350–450 mn |
CRC: a 100%-owned subsidiary, Central Food Retail (CFR), to acquire 100% of AEON (TH) which operates 30 MaxValu supermarket locations with funding mostly through internal CF; no incremental borrowing needed. The acquisition includes a Ready-to-Eat processing center and a customer base of more than 900k, aims to accelerate expansion of Tops’ supermarket which opens around 10 stores annually, with 170 locations currently. Acquiring 30 stores effectively adds 1/3 to the existing Tops network in BKK and pulls forward 3 years of organic expansion. Final acquisition price TBA.
Comment: Never thought I’d see the day that the Japanese sold. Rumours abound that CRC wants to sell a stake of shares (or the family) to fund their Private European business
SCC.BK — The Siam Cement
Leading Thai conglomerate with core businesses in cement & building materials, chemicals (SCG Chemicals) and packaging (SCG Packaging), with extensive ASEAN footprint.
| Market Cap (THB) | 310.80 bn |
| Market Cap (USD) | 9.36 bn |
| Current Price | 259.00 THB |
| 52-Week Range | 163.00 – 264.00 |
| P/E (TTM) | ~23x |
| P/BV | 0.73x |
| Dividend Yield | ~2.7% |
| Avg Daily Value | ~THB 800–1,100 mn |
SCC: Building-material sales are expected to improve in 2H, supported by higher contribution from Indonesia following the recent bilateral trade and economic cooperation agreement, infrastructure spending in Vietnam, and margin upside from cost controls and lower interest expense.
Comment: SCC needs Vietnam to wake up again for it to go back to to the 300s, add in the national petchem story and then perhaps 400+ is possible…is it fundamentals? Nah…funny mentals…
Earnings released.
CPAXT.BK — CP Axtra
Operates wholesale cash-and-carry (Makro) and retail hypermarkets/supermarkets (Lotus’s) across Thailand and selected regional markets, plus related commercial space management.
| Market Cap (THB) | 156.41 bn |
| Market Cap (USD) | 4.71 bn |
| Current Price | 15.00 THB |
| 52-Week Range | 13.90 – 23.40 |
| P/E (TTM) | 16.5x |
| P/BV | 0.52x |
| Dividend Yield | 4.73% |
| Avg Daily Value | ~THB 120–150 mn |
CPAXT: Bt1.87b -17.98% yoy; missed Bt1.93b consensus, mainly due to higher DC&A expenses from store opening, marketing activities and omni channel related expenses, announced interim Bt0.18 dps, XD Aug 20.
Comment: Oh – what a surprise…
PTTGC.BK — PTT Global Chemical
Thailand’s largest integrated petrochemical and refining group, producing olefins, aromatics, polymers and specialty chemicals with significant export exposure.
| Market Cap (THB) | 165.70 bn |
| Market Cap (USD) | 4.99 bn |
| Current Price | 37.25 THB |
| 52-Week Range | 19.00 – 41.75 |
| P/E (TTM) | N/A (loss-making) |
| P/BV | 0.55x |
| Dividend Yield | 1.36% |
| Avg Daily Value | ~THB 1.2–1.8 bn |
PTTGC: Bt12.2b vs net loss yoy, beat Bt9.43b consensus driven by full quarter realization of stronger chemical margins across aromatic & polyolefins, market GRM came in at $15.6/bbl (+194% yoy, -7%qoq), aromatic P2F at $329/t (+86% yoy, +19% qoq), refining U-rate at 96% following government imposed export curb.
Comment: I don’t see it abating anytime soon – Iran isn’t finished, question now is whether the divvy will keep people interested enough. And that national petchem story.
THANI.BK — Ratchthani Leasing
Provides hire-purchase and financial lease financing for commercial vehicles, passenger cars and other assets, with a focus on the Thai truck and logistics segment.
| Market Cap (THB) | 14.83 bn |
| Market Cap (USD) | 0.45 bn |
| Current Price | 2.38 THB |
| 52-Week Range | 1.54 – 2.42 |
| P/E (TTM) | ~11.8x |
| P/BV | ~0.70x |
| Dividend Yield | ~4.9% |
| Avg Daily Value | ~THB 70–110 mn |
THANI: Bt359m +29% yoy, thanks to lower funding cost yoy and improved asset quality, ECL dropped 70.05% yoy to Bt82.69m
Comment: TCAP wants the divvys
Comparison Table — As of 7 August 2026 (USD/THB 33.20)
| Ticker | Mkt Cap (USD) | Price (THB) | P/E (TTM) | P/BV | Div Yield | YTD 2026 | Analysis |
|---|---|---|---|---|---|---|---|
| BCP.BK | 2.00 bn | 45.50 | ~6.0x fwd | 0.87x | ~3.0% | +75.0% | View → |
| CPAXT.BK | 4.71 bn | 15.00 | 16.5x | 0.52x | 4.73% | –4.5% | View → |
| CRC.BK | 4.77 bn | 26.25 | ~22.5x | 2.3x | ~2.0% | +45.8% | View → |
| PTTGC.BK | 4.99 bn | 37.25 | N/A | 0.55x | 1.36% | +75% | View → |
| SCC.BK | 9.36 bn | 259.00 | ~23x | 0.73x | ~2.7% | +41% | View → |
| THANI.BK | 0.45 bn | 2.38 | ~11.8x | 0.70x | ~4.9% | +~38% | View → |
Data compiled from SET, MarketScreener, stockanalysis and company filings as of 7 August 2026. YTD calculated from last trading day of 2025. Market caps converted at the stated USD/THB rate of 33.20. Figures are approximate and for reference only.
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