BTS: begins trial run of 34.5km MRT pink line (30 stations), t/g cod in Nov.
Comment: This won’t add much to BTS’s bottom line nor value directly, however take into account that they’ll now own the skies around Bangkok and then what can the BMA do? They’ll have no choice but to extend to the BTS contract, duopolies are great eh?
CBG: mulls adding beer on product line in Oct, aims to penetrate in Bt 200b beer mkt, will start to realize OEM bottle sales from new packaging unit from 3Q, recovery sales in Vietnam give upside to earnings.
Comment: Hopefully it won’t be sugarised rubbish like Singha and Beer Chang – though I have my doubts.
NER: keeps 500k tons FY rubber sales vol t/g aft rec 257k tons in 1H +39.14% yoy, expects margin expand from higher utilization rate & lower energy expenses yoy from solar rooftop & biogas pp combined 8mw, pays interim Bt 0.05, XD Aug 25.
Comment: Quietly showing great figures.
PTG: revised up FY fuel sales volume growth target to 10-15% yoy from 8-12% prior aft logged 3b ltr in 1H +14.3% yoy.
Comment: Volume isn’t the issue for PTG, the issue is the margin, oil prices at these levels = an awful marketing margin.
PTTGC: sees chem downturn bottom out as new supply dissipated from production cut, expects meaningful turnaround next year from higher sales volume & wider spread.
SPALI: m/t launch plan 27 residential project total Bt 28.5b in 2H, 3Q earnings are set to grow driven by transfer of Bt 2.3b Supalai Premier Si Phraya-Samyan, Bt 12b o/s backlog assures earnings visibility.