BGC in talk JV packaging partner, seeks to branch out from glass containers, plastic packaging and label to other types of packaging, finalize deal by end of Feb.

CPN cods 93k sq.m. mall project, Central Westville Ratchapruek.

Comment: The retail cookie munssster

LEO’s board approved US$1m investment in LogiCam to expand shipping business between Thailand & Cambodia, approved purchase 10% of Aramex (TH) from Tran Speed Asia to provide urgent international parcel & document transportation services.

Comment: That’s a nothing burger, it’s a lazy board that should be focused on doing something else w/ that capital.

PTG sees 10-15% oil sales growth this year, from 4.9b litres of oil last year, thanks to tourism recovery, plans to increase # of petrol stations to 2,206 from 2,176 by end of year.

Comment: Still a great company, but they need oil prices down…a lot.

PYLON reaffirms 4Q turnaround from Bt725m foundation work backlog pending to realize, recovery margin on lower energy costs, mulls bidding additional contract on jump start infrastructure project.

SABINA expects FY revenue growth exceed 10-15% target from better than expected sales in 4Q driven by double day campaign via Shoppee & Lazada, ramps up promo to boost sales on holiday season.

Comment: Has constantly surprised me w/ their revenue growth. Margins is a different question, but their revenue growth has been impressive given the weak econ.

SHR upbeats 4Q earnings from robust OCC and ADR at hotels in Thailand & Maldives on seasonal, resumption of Outrigger Mauritius aft closed for refurbish in 2Q, sets Bt1b capex for M&A, upgrade Saii Laguna Phuket, revamp existing property.

Comment: A no brainer….below BV…

SIRI to launch 16 project in total Bt15b over next 5 years, comprises of 9 SDH & 7 condos, sees potential from 1m local residence and robust traffic aft city welcome 8.2m international travelers 9M23, expects to reach 10m by end of year, generating Bt300b revenue for the country.

TTA sees FY24 turnaround from US$ 697m subsea engineering backlog pending to realize, sees dry bulk charter freight rate stays above US$10k/vessel/day on fi

Comment: Oh hello oil & gas offshore service providers…now if only the owners of TTA realised this before dumping their holdings. In Thailand you don’t have many direct plays….indirect perhaps, a UEC & BJCHI which are contractors for the O&G co’s

  1. Too bad you not mention TOG as it was just interviewed by Tahoon Biz news last Monday with the MD of TOG ( In that he is clearly quoted saying sales should increase 18-20% next year vs. 3-5% this year. This I find amazing as far above previos guidance. Talking about to benefit from WHO helping (never heard this before) but its not elaborated on how? Mentions about a new 2nd factory-evaluation for outside Thailand, maybe in LAOS as it has very cheap electric power. Profit margins on the increase. He mentions USA sales doing very well and hope to do a deal with a US Franchisee there. Very positive, as US sales now are dominant and so will be growing even from this high base. EU is more subdued.
    With the 4th Q. ’23 positive and higher then last years 4th. Q. All very positive and amazing how the stock has not reacted on this? Not yet. Likely because all the speculator/traders so dominant here are licking their wounds -and still no other broker follows TOG. Its P/e 12 and dividend yields well above 5.5%. 95% of TOG sales are exports to 50 countries around the World.

    • Not sure, but the previous CEO had been there since 2015, it’s now 2023. Normal for a change. Think Dirk did a great job. As for the new person, he just has to manage the relationship w/ the family’s egos and operate the company as well as it has been. Let’s see.

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