Stocks in the news (bgrim, gulf, mint, ptt, warrix) 17.04.26
B.Grimm Power Public Company Limited is a leading Thailand-based integrated energy producer focusing on the development and operation of gas-fired co-generation and renewable energy power plants. The company serves over 400 industrial users through its own transmission systems and is strategically expanding into LNG procurement and global renewable energy markets.
BGRIM: sees impact from middle east conflict less than Russia-Ukraine war, 70% of industrial users are shifting to gas pass-through contract while most of LNG feedstock comes outside middle east.
Comment: Yup most comes from Australia today.
Gulf Energy Development Public Company Limited is a leading energy producer and infrastructure developer in Thailand with a diversified portfolio spanning gas-fired and renewable power generation, data centers, and telecommunications. The company is a key driver of the nation’s energy transition and digital infrastructure expansion through strategic domestic and international investments.
GULF: opted to maintain holding in KBANK within 10% cap, no plan to invest directly in jv virtual bank as it’s no closely aligned with core business, investment thru jv (ADVANC-KTB-OR) would bring stronger advantage from extensive customer financial data, large mobile user base and SME/retail supply chain ecosystem.
Comment: I trust everything that GULF has to say regarding the KBANK stake.
Minor International Public Company Limited is a global hospitality and lifestyle operator with an extensive network of hotels, restaurants, and retail brands across Asia, Europe, and the Middle East. Its core business units include Minor Hotels (Anantara, NH Hotels), Minor Food (The Pizza Company, Swensen’s), and Minor Lifestyle, catering to diverse consumer segments worldwide.
MINT: sees 1H26 performance on positive trend, overall impact from middle east conflicts remains manageable as all 27 hotels in the middle east operations under asset-light model, 2Q26 advance booking for European and Latin AM markets remain positive while ADR continue to grow supported by flexible pricing management and upper segment spending capability.
Comment: I have no idea how to gauge the tourism outlook in Europe. Though I still consider it to be the best tourism market. For MINT I simple wonder what else they’re going to do to monetise NH’s assets.
PTT Public Company Limited is Thailand’s national energy conglomerate, operating across the entire petroleum and natural gas value chain, including exploration, production, refining, and retail. The company plays a vital role in national energy security while increasingly pivoting toward green energy, electric vehicle ecosystems, and high-value life science sectors.
PTT: stated 2mnbbl of additional crude to arrive on 21Apr after being stranded since 7Mar. This gives us a better gauge of the pressure arising from imported crude reliance. It could take another month or so before shortages ease, assuming further escalation between the US, Iran, and surrounding countries.
Comment: The US is making their exports great again.
Warrix Sport Public Company Limited is a Thai licensed sportswear and equipment manufacturer specializing in high-performance athletic apparel, most notably serving as the official kit provider for the Thai national football team. The company also integrates healthcare and physical therapy clinics into its business ecosystem to promote a holistic sports lifestyle.
WARRIX: 1Q26F expected soft at THB30mn -80%y/y. FY25F/FY26F earnings revised down by 40%/16% to reflect lower GPM and higher marketing and rental expenses. Weakness is due to lower-than-expected revenue, particularly from project-based and modern trade channels. SG&A-to-sales rose to 45.5% in 2025 (vs. 37.3% in 2024) from higher marketing expenses on TikTok, rental fees from new locations.
Comment: Again only judge them as a B2G play. They’re not doing as well as they should in retail and they’re up against every online player. It’s a brand that probably will not last.
| Ticker | Price & YTD | Trend (3M) | Consensus | Analysis |
|---|---|---|---|---|
| BGRIM | 12.20 (-13.5%) | 📉 | Buy | Link |
| GULF | 59.50 (+42.5%) | 📈 | Buy | Link |
| MINT | 22.80 (-6.2%) | 📉 | Buy | Link |
| PTT | 34.75 (+8.6%) | 📈 | Hold | Link |
| WARRIX | 1.68 (-11.6%) | 📉 | Hold | Link |
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