CHAYO reported Bt5.33b NPL & NPA purchased in 1H, lifts bad debts to Bt88.3b under management, target Bt100b by end of year.

Comment: The industry is still going to be a boom period for another 5 years, there is just too much bad debt out.

CK expects full year construction backlog reaches record high above Bt250b from Bt56b end of FY22 driven by 2 incoming project, Bt127b Orange line MRT & Bt85b hydro power plant in Laos, potential upside from Bt35b Nganwongwarn-Rama9 tollway project & Bt27b M&E contract for south purple line MRT.

MINT launches new Chinese eatery, Riverside Grilled Fish, franchise at Central World, opening 2nd branch at Central Rama 9 in Jul, target 10 outlets by end of year.

PHG: healthcare services, Patrangsit Healthcare Group, debut IPO 54m shares at Bt21 apiece, Kingford & Krungsri joint leads.

Comment: Whenever I see Kingsford’s name on an IPO, the hair on my arms stand up. Dodgy dodgy dodgy.

SPALI’s 1H presale stood at Bt17,285m, on track to meet Bt36b target this year, plans 27projects in 2H worth Bt27b, lodged appeal with Supreme Admin Court, after its EIA was withdrawn at Loft Rachada-Wongsawag project.

Comment: A rare mis-step by SPALI.

TRUE in collaboration with Lotus to open staff-less store under Lotus Pick & Go by True Digital with RetailTech innovation at Lotus North Rajapreuk.

Comment: So the group that employs that highest # of people in the country is looking to cut costs?

XO: Albizia cuts holding by 0.1028% to 4.9273% on Jul 4.

Comment: Nothing wrong with taking a profit, these guys normally hold for decades…

  1. peter satrapa-binder

    regarding PHG IPO and also other recent IPOs: what i also see is that there seems to be quite a difference in the market mentality regarding IPOs vs. the last years: while until recently nearly every IPO has been a pump at least on the first trading day, in recent weeks i have seen already 2 IPOs which have not been: First GABLE a few weeks back and not PHG doesn’t look to good either.

    looks to me like the market got a lot more pessimistic recently. of course also STARK had shaken up things a little bit at least.

    • Market sentiment is low atm
      politics + stark + aeonts latest figures (ytd) being very weak.

      gable – we all knew that its a slow moving old fashioned “tech” company that won’t grow more than 10% p.a. plus the professionals (CEO + IR) have Ananda baggage (though I think he’s a fantastic IR)
      phg – no idea. haven’t looked at it

      • peter satrapa-binder

        thx. I didn’t look at aeonts, though.

        phg – currently down 5 % from the IPO price. the highest today was just THB 0.10 above the IPO price.

        politically I guess we will have to wait a few more weeks (not only until july 13th) until the air clears somewhat .

  2. Tha market has caught on to the unscrupulous hisos overpricing their IPOs and then using sweet talking brokers to sell them to gullible retail investors.

    • hahaha, doesn’t everyone think they are hiso once they buy/lease a European car here….

      back to the ipos’…i am one of those that tells friends, if they can get access to a small company going public, take the shares. it’s rare to not do well.

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