Stocks in the news (centel, mbk, scgd, spali, true) 28.01.26
Central Plaza Hotel Public Company Limited is a leading Thai hospitality operator in the Gambling, Resorts & Casinos industry. The company manages hotels and quick-service restaurants across Thailand and internationally, with recent expansions in Japan.
Key Metrics: Market Cap: THB 46.58B, P/E: 27.60, Dividend Yield: 1.71%
View full analysis on Perplexity Finance →CENTEL
CENTEL launched its opening campaign for Centara Life Namba Osaka, with bookings open through end-May and stays from 1 May to 31 August 2026, supporting earnings visibility from its Japan portfolio.
Comment: All that matters is the continuous tourism recovery in Thailand and the #’s will continue to look good until 3Q26 on a YoY basis.
MBK Public Company Limited is a Thailand-based diversified conglomerate operating across eight principal business segments including shopping centers, hotels and tourism. The company is classified in the Industrials sector as a Conglomerate.
Key Metrics: Market Cap: THB 25.02B, P/E: 7.52, Dividend Yield: 5.59%
View full analysis on Perplexity Finance →MBK
MBK reiterated its target for approximately 10% revenue growth, supported by the recovery in tourism, which continues to benefit shopping malls, hotels, restaurants, and golf-related businesses. The company plans an average annual investment budget of around THB1bn, with capital deployment dependent on opportunity timing. Most recently, MBK partnered with a Singapore-based operator to open Invictus International School, enhancing the long-term value of the Riverdale District mixed-use development.
Comment: I have yet to be convinced on this group’s investment capabilities to generate IRR’s in the double digits.
SCG Decor Public Company Limited (SCGD) is a Thailand-based building materials company specializing in the production of glazed porcelain tiles and decorative materials. The company operates manufacturing facilities in Thailand and Vietnam, serving infrastructure and residential construction markets across Southeast Asia.
Key Metrics: Market Cap: THB 11.84B, P/E: 18.35, Dividend Yield: 2.42%
View full analysis on SET →SCGD
SCGD announced plans to invest THB599m to expand production capacity of glazed porcelain tiles at its Vietnam facility to 6.6m sqm per annum, up from 6.0m currently. The expansion is expected to be completed by end-4Q26 and is aimed at meeting infrastructure-related demand in Hanoi, Danang, and Ho Chi Minh City.
Comment: Thailand continues to have a hardon for VN
Supalai Public Company Limited is a leading Thai real estate developer founded in 1989 and headquartered in Bangkok, specializing in residential and commercial property development across Thailand, the Philippines, and Australia. The company operates under the Supalai brand, developing a diverse portfolio of housing projects including single detached houses, duplex houses, townhouses, and condominiums targeting middle to high-income earners, alongside office buildings, hotels, resorts, and shopping centers.
Key Metrics: Market Cap: THB 33.99B, P/E: 7.47, Dividend Yield: 7.78%
View full analysis on Perplexity Finance →SPALI
SPALI set a 2026 presales target of THB45bn, comprising THB30bn in Thailand and THB15bn from Australia. Despite a weak domestic property backdrop, management highlighted stable interest rates and remaining purchasing power within the middle-income segment as key supports for demand.
Comment: They’re still going gangbusters throughout the world. Zero real competition in Bangkok.
True Corporation Public Company Limited is Thailand’s leading integrated telecommunications and technology company, headquartered in Bangkok and operating through its TrueMove H, TrueOnline, and TrueVisions segments. Founded in 1990 and listed on the Stock Exchange of Thailand, the company provides comprehensive telecommunications services including mobile communications, broadband internet, Wi-Fi, pay television, and digital platform solutions to customers across Thailand.
Key Metrics: Market Cap: THB 400.80B, P/E: N/A, Dividend Yield: 1.62%
View full analysis on Perplexity Finance →TRUE
TRUE and Arise Ventures reiterated that their partnership is aimed at accelerating growth in AI, cloud, and data-center infrastructure, while maintaining financial discipline at the telco level. Arise Ventures’ strategy will rest on three pillars: telecommunications, cloud & data centers, and fintech, with the objective of building an integrated digital ecosystem from infrastructure to consumer-facing services.
Comment: Let’s keep it simple….Telenor wanted a great exit, they got it, Supachai doesn’t have THB 100 bn in cash, nor does CP, so they need leverage – is shifting this acquisition to Arise and him shifting out of the family co to Arise (an “independent entity””) acceptable to local financers that this is “independent entity” can leverage THB 100 bn on the hope and expectations of divvy payments to cover the debt repayment over xx # of years?
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