Stocks in the news (chase, kex, leo, makro, ptg, pttgc, sabina) 21.02.23
CHASE: distressed assets management, a subsidiary of RS, Chase Asia, debut IPO 562m shares at Bt2.9 apiece, ASP, KSEC, UOBKH & Yuanta joint leads.
Comment: According to my friends in the industry, this is a POS. Put together by RS and friends just to IPO a few years ago. They haven’t been seen at any of the auctions for NPLs/NPAs for the past 2 years. But it will probably pump!
KEX: BTS raised holding by 0.459% to 5.0557% on Feb 16.
Comment: Not a bad decision. At the end of the day the market will whittle down to 3 players, KEX, FLASH and Thai Post.
LEO sees growth momentum this year, realizing revenue from rail cargo transport to China from 1Q23 and potential M&A deals this year.
MAKRO to change name and ticker to CP Axtra and CPAXT.
Comment: Huh? What? Someone go grab the Chairman and tell him his feng shui advisors are giving him the shittiest names. Hello Lotus’s’s’s’s’s’s’s’s’s’s’s’s’s’s’s’
PTG eyes double-digit revenue growth target driven by higher fuel sales volume yoy, wider marketing margin at Bt1.8-2 vs Bt1.4-1.6/liter during Covid, tailwind from non-oil business, seeks to expand retail, healthcare, renewable energy & digital business.
Comment: OIl will be weak in 1H23 relative to last year. Could be a ST trade here…but still need to see the non-oil business grow faster to make up for the volatility in marketing margins…
PTTGC sets 4% EBITDA growth target this year, on 15% sales growth, recovering petrochemical price, lack of maintenance shutdown in refineries, revenue from Allnex Holding GmbH, and AGC Vinythai or AVT, with 23% stake, sets Bt10b capex, excluding M&A deals.
SABINA, via its subsidiary, paid Bt20.5m for a 77.33% stake in Moda SBN Inc in the Philippines.
Comment: Well hello sirrrrr.