CPN: plans Bt 14b investment in 2 mixed-use projects in Nakhon Sawan & Nakhon Pathom provinces, target cod both within 1H24.

Comment: And they’re going to conquer it all.

PTTEP: reaffirms solid 4Q from higher Oil & Gas sales volume from Arthit, Erawan & Bongkot fields, tailwind from Algeria Hassi Bir Rekaiz projects, seeks to expand Asean & middle east to boost reserve.

Comment: Hello hello hello, here we go! Just 12 months ago no one bothered looking at this name….now it’s close to finally realising a resemblance of fair value

NOBLE: reported 9M22 residential sales +154% yoy to Bt 14.03b, host sales event November 1-20 to purge 6 ready-to-move-in projects, Bt 6b out of Bt 21b to transfer before end of year, will launch Bt 4.65b riverfront condo projects, nue Riverest Ratburana, presales kick-off within 4Q.

Comment: Everything YoY looks amazing! And that should continue to be the case until the end of 1H23.

SIRI: reported 10M22 condo sales at Bt 11.8b account for 90% of Bt 13b FY target, adding 2 more FLO by Sansiri & Base Downtown Khonkaen total Bt 3.2b before end of year.

Comment: Now, is there really going to be a wave of foreign buying? Remember the Thai gov says you need to 1) Get the Visa first and then 2) You can buy a property, I’m not entirely sure that this is going to lead to a massive buying spree for all the listed developers.

SKY: upbeat outlook from higher revenue collection from in/outbound passenger processing system (Bt 24/passenger), expects earnings accelerate on high season, will roll out 1-2 digital platform before end of year, firms on Bt 3b FY revenue target.

Comment: Looks like they have a license to print $

TTB: maintains 2% FY loan growth target after logged 1.7% 9M22, expects NPL steady at 3.2%, focus on mortgage, HP & bancassurance.

  1. PTT at a massive discount to PTTEP, reminds me of the Intuch to Advanc discount a few years back. I’m hoping history repeats so I can cash out of PTT like I did Intuch.

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