Stocks in the news (cpn, ea, mrdiyt, ptt, thai, true) 02.03.26
Central Pattana Public Company Limited is Thailand’s largest retail property developer, managing an extensive portfolio of shopping centers, office buildings, hotels, and residential projects across major cities and international markets.
CPN: The company has partnered with The Ascott Limited, a global hospitality company and wholly owned subsidiary of CapitaLand Investment, for the development of Oakwood Central Hat Yai.
Energy Absolute Public Company Limited is a leading green energy company in Thailand, focusing on renewable power generation, biodiesel production, and the development of an integrated electric vehicle ecosystem including batteries and charging stations.
EA: The company is close to signing a contract to produce 1,520 electric buses for BMTA (Bangkok Mass Transit Authority) and Nakhonchai Air. The company is also moving forward with waste-to-energy power generation projects in Pattaya and Phuket. EA reported high operating cash flow of THB8.4bn. Adhering to prudent accounting practices, the company recorded a THB7.2bn impairment charge on non-cash assets, resulting in a net loss of THB4.8bn. Despite the loss, the company projects a net profit of THB1.55bn.
Comment: Wait what, 1) They’re supposed to be bankrupt 2) Corruption was effectively confirmed with the BMTA bus program via the subs/related parties.
MR. D.I.Y. Holding (Thailand) Public Company Limited is a dominant home improvement retailer offering a vast selection of hardware, household goods, and electrical items through its extensive nationwide store network.
MRDIYT: Sees positive SSSG YTD, sets THB4bn capex to add 210 stores and an automated warehouse to increase efficiency and reduce human error, targets 20% FY revenue growth, pays THB0.06 DPS, XD Mar 11.
PTT Public Company Limited is Thailand’s state-controlled energy conglomerate involved in the entire value chain of oil and gas, from exploration and production to refining, petrochemicals, and retail distribution.
PTT: The company is planning to sell shares in its oil refining and petrochemical subsidiaries, TOP TB, PTTGC TB and IRPC TB, to global petrochemical companies seeking to expand in Southeast Asia. PTT will also approach investors regarding its electric vehicle (EV) charging business, operated by PTT Oil and Retail Business Plc (OR). PTT has already divested its shares in EV assembly and EV battery manufacturing businesses, becoming a minor shareholder.
Comment: This is what happens when corruption becomes endemic within organisations – the country loses and better operators will come in to benefit.
Thai Airways International Public Company Limited is the national carrier of Thailand, currently restructuring its operations to restore profitability while providing domestic and international air transport and cargo services.
THAI confirms flights are operating as scheduled. European flight services have been rerouted to avoid airspace over areas affected by the ongoing situation. Passengers are advised to be prepared for slightly extended flight durations compared to normal schedules. The airline is working in coordination with aviation authorities to ensure both safety and continuity of operations.
Comment: Now I’m getting excited.
True Corporation Public Company Limited is Thailand’s premier integrated telecommunications provider, delivering comprehensive mobile, high-speed internet, and digital media services following its landmark merger.
True – CP Group to divest a 10% stake, or 3.46bn shares, in TRUE in two tranches: 9.8% to UBS and the remainder to two companies. The first tranche pricing will be based on Feb 26’s closing price of THB14.7 per share, while the second tranche pricing will be determined at the time of completion. The deal is worth THB50bn (USD1.6bn). TRUE has gained +33% YTD. CP Group and its affiliates will hold about 19.72% of TRUE’s total issued shares and will continue to be its major shareholder over the long term.
Comment: Some may say – oh they’ll still own 25% via Arise – which is true…or does CP group need the $ to pay down debt and get some equity ready for the 3 track airport?
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