CK to use CKP to buy shares of 1285-MW Xayaburi power plant from BEM for Bt2.5bn, lifting its shareholding to 37.5%. It plans to issue a Bt2.5bn bond to pay for the purchase. (Thun Hoon, 23/3/18)
IVL partners with Alpek and Far Eastern to set up CC Polymers to buy a PTA-PET factory from M&G. Currently, the plant is being constructed. It will have PET production capacity of 1.1 mn mt/year with PTA capacity of 1.3 mn mt/year. (Thun Hoon, 23/3/18)
JAS approves TTTBB to sell assets to JASIF worth Bt50-70bn in 2019. The money will be used to expand its broadband business, pay off debt, and for a dividend. (Khao Hoon, 23/3/18)
MBKET targets new 20,000 accounts in 2018 or 10% growth. It has 13-14 IPO on the boards with 5-6 deals that will take place this year. (Thun Hoon, 23/3/18)
Comment: Ohhh more IPO’s!!
NWR is certain that 1Q18 earnings will be positive, backed by backlog worth of Bt10bn. It targets new projects worth Bt13bn. (Khao Hoon, 23/3/18)
Comment: Other than that one brief spike nothing new has happened for this small-mid size contractor
SAT is certain that 1Q18 earnings will be better YoY, in line with automotive industry growth of 23%. (Thun Hoon, 23/3/18)
Comment: An obvious turnaround missed 1.5 years ago
SGP signals good 1H18 performance, driven by higher LPG prices with targeted sales of 3.5mn tons. It recently signed an MOU to find gas for EGAT. (Thun Hoon, 23/3/18)
VIBHA targets 2018 earnings of Bt1bn. It says losses at its hospitals are coming down and close to turning around. Revenue is expected to grow by 10-15%. It plans to invest Bt600mn to build a 9-floor building. (Khao Hoon, 23/3/18
Comment: Should be more valuable than where they are today but the odd movements of shares between the group does confuse us.
  1. Pon any thoughts on this brewing trade and tariff war between China and US? So far SEA hasn’t been mentioned. Generally net negative but the fallout could benefit countries like Thailand given the items mentioned include agricultural products such as meat, fruit and grains.

    • Indirect impact to SEAsia.

      Just thinking macro at the moment..costs of goods increase, inflation increases, rates increase, the capital flow out of USD may potentially return to it in the future in a fast manner and then currencies in SE Asia stop strengthening and suddenly drop as in 2013.

  2. Pon,
    is there a site showing the foreign level of investment for thai stocks?

    Foreign investors are keeping going out, they should own very low percentage of market right now.
    thai economy is not doing, baht is strong, so the outflows it’s all about this elections delays / political situation?

    • you can calculate it via the NVDR holdings, its all on the SET website. It does not include the foreign shares – however this is should be negligible

      What about valuations?
      It’s not the first time that elections have been delayed – not a risk
      baht strength – to be expected given the flow of capital
      thai econ – correct, not in the best of health, but still not too bad.

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