CHAYO: board gives nod to spin-off P-Loan unit, Chayo Capital, (CCAP) will sell IPO 125m shares (25% of paid-up) & list on MAI.

Comment: And investors will be surprised by how small this entity is. (or not)

GPSC acquires 50% of PTT’s renewable unit, Global Renewable Power (GRP), for Bt1.275b, to complete by end of 2Q24.

Comment: Just a left pocket/right pocket transaction

GULF signed 25 years sale contract with EGAT for 12 solar farm, total 644.8MW, starting operations between 2024 and 2025, boosting Bt600m p.a. profit.

PTTEP to buy 25.5% stake of Scotland’s largest offshore windfarm, Seagreen, 1,075MW and 114 turbines, for GBP 522m from Total Energies, also signed MOU to joint expand development of renewable energies business.

Comment: Why? Well the capex is done (i presume) and the UK government is happy to overpay for this rubbish, so perhaps it makes sense? No idea on the IRR’s

THCOM-Global Star launches the 1st Low Earth Orbit (LEO) satellite ground station in Thailand, opening for service in Jan 24 under 10-yr contract. THCOM will receive income from management fees, maintenance costs & sales representative for IoT devices and solutions, aims to sell around 10k IoT devices next year with avg mthly fee of Bt1k/month to generate income from this field, expects market share on satellite broadband increase from its accuracy, no mobile network or intermediary needed to sending signals.

Comment: There could be a lot of value in the company given that there is a shareholder/management team that is actively looking to create “value” again.

WARRIX reaffirms solid 4Q on sports apparel sales on holiday season, rolls out running shoes & sneakers to expand segment coverage, mulls expand sport marketing to increase brand awareness to strengthen regional presence, eyes 22% CAGR till FY26.

Comment: Their issue is that the Chinese brands are coming and coming strongly.

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