Stocks in the news (cpn, gulf, jas, pttgc) 26.03.26
Central Pattana Public Company Limited is Thailand’s largest retail property developer. The company manages a premium portfolio of over 40 shopping centers, alongside offices, hotels, and residential projects, dominating the domestic market with a comprehensive “integrated mixed-use” development strategy.
CPN TB remains constructive on its 2026 outlook with single-digit growth outlook supported by CPN ~8% expansion in net leasable area (NLA), the completion of asset enhancement initiatives (AEIs) at Chiangmai Airport and Bangna projects, and mid-single-digit same-store rental revenue growth, reflecting resilient underlying demand across its retail portfolio. YTD performance has tracked in line with expectations. The rise in oil price and utility cost is largely mitigated bypass-through mechanisms. In addition, there is meaningful upside risk from residential project transfers at Central Park, specifically Dusit Park Side and Dusit Residences.
Comment: With the Mall group and the Siam Piwat group unable to compete, this country belongs to Central.
Gulf Energy Development Public Company Limited is a leading energy producer in Thailand, operating a diverse portfolio of gas-fired and renewable power projects. The company has aggressively expanded into digital infrastructure, telecommunications, and international energy markets to drive long-term growth.
GULF is partnering with humanoid robotics developer AGIBOT to expand industrial robotics applications in Thailand.
Jasmine International Public Company Limited is a technology holding company. Formerly a major broadband provider, it has pivoted toward digital infrastructure, data centers, and a significant strategic focus on Bitcoin mining and digital asset holdings through its subsidiaries.
JAS booked a THB1.498bn impairment on advance payments for Premier League/FA Cup broadcasting rights (Thailand, Laos, Cambodia) — non-cash, no impact on current cash flow.
Comment: Why now?
PTT Global Chemical Public Company Limited is Thailand’s largest integrated petrochemical and refining company. It produces a wide range of chemical products including olefins, aromatics, and polymers, serving global industrial markets with an increasing focus on sustainable “green” chemistry.
PTTGC: Chairman Pakorn Nilprapunt resigned amid speculation of a potential appointment as Deputy PM (Legal Affairs).
Comment: It does look like the best technocrats are being appointed to the ministry positions.
| Ticker | Price (THB) | YTD (%) | Trend (3M) | Rating | Action |
|---|---|---|---|---|---|
| CPN | 64.00 | +15.8% | 📈 | BUY | Analyze |
| GULF | 56.75 | +35.9% | 📈 | BUY | Analyze |
| JAS | 1.19 | -11.2% | 📉 | HOLD | Analyze |
| PTTGC | 26.25 | +25.0% | 📈 | SELL | Analyze |
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