CENTEL (CRG): Acquires 40% stake in Miracle Planet (parent of Lucky Suki) for THB 940mn.

Comment: And that’s another restaurant chain whose quality will decline over time.

MAGURO: Opening 2 Tonkatsu AOKI branches at Iconsiam and Mega Bangna in 4Q; total now 53 branches across 7 brands, targeting 30% FY revenue growth.

Comment: They’re still trying to get out there and take market share. At one point this will taper off and then it becomes a single digit PE.

SIRI: Positive presales momentum continues; THB 6bn logged quarter-to-date, 7 new launches totaling THB 18bn, with THB 25bn backlog supporting future earnings.

Some 3Q25 Results Snapshots

• WHA: THB 634mn, +40% YoY, beating THB 593mn consensus; interim DPS THB 0.0669, XD Nov 27.
• CK: THB 1.73bn, +73% YoY, beating THB 835mn consensus.
• CENTEL: THB 160mn, -1.8% YoY, beating THB 130mn consensus.
• TVO: THB 485mn, +11% YoY, missing THB 539mn consensus.
• CBG: THB 616mn, -17% YoY, missing THB 664mn consensus.
• RATCH: THB 2.17bn, +31% YoY.
• EGCO: net loss THB 655mn, vs THB 2.46bn profit YoY.

Thailand 3Q GDP released at 9:30am; market expects +1.6% YoY.
Cabinet to formally discuss 2nd phase of Co-Pay Plus scheme on Tuesday, rollout expected early next year.
NBTC preparing co-pay broadband stimulus: 40GB high-speed internet per month for 3 months at subsidized THB 160/month, targeting >14mn welfare card holders.