Stocks in the news (gulf, thcom, ktb, thai) 07.09.26
Company news
Gulf Development PCL is Thailand’s leading independent power producer after the Gulf–Intouch amalgamation, owning gas-fired IPP/SPP plants, LNG and a growing renewable book, plus a strategic stake in ADVANC. Earnings mix gas-spread power cash flow with telecom associate income; the 2026 rerating reflects both the combination and a firmer power and infra bid, even after a pullback from the late-August highs.
| Market Cap (THB): 922.55B | Market Cap (USD): ~$28.02B (at ~THB 32.93/USD) |
| Current Price: THB 61.75 (as of 4 September 2026 last sale) | 52-Week Range: THB 39.75-68.50 |
| P/E Ratio: 24.5 (TTM) | P/BV: 2.74x |
| Dividend Yield: 1.7% (latest indicated) | Avg Daily Value: THB 2.0B-3.5B |
Thaicom PCL operates satellite transponder capacity and related broadband, internet, media and network services across Thailand, Australia, India, Myanmar and other coverage footprints, including the IPSTAR platform and uplink/downlink and data-centre adjacencies. The name trades on a mid-teens TTM multiple after a year-to-date gain from the December 2025 close, with a small indicated yield versus the larger SET names in this snapshot.
| Market Cap (THB): 11.40B | Market Cap (USD): ~$346M (at ~THB 32.93/USD) |
| Current Price: THB 10.40 (as of 4 September 2026 last sale) | 52-Week Range: THB 7.60-14.20 |
| P/E Ratio: 18.2 (TTM) | P/BV: 1.08x |
| Dividend Yield: 1.3% (latest indicated) | Avg Daily Value: THB 20M-120M |
GULF/THCOM — Satellite concession dispute: Cabinet authorised the DE Ministry to pursue legal action over alleged non-compliance with satellite operating obligations, with a reported THB1.25bn penalty.
Comment: Lets see…it’s GULF – I doubt anything happens
Krung Thai Bank PCL is a large government-linked Thai commercial bank spanning retail, SME and corporate lending, deposits, cards and related financial services. Earnings are driven by net interest income and credit cost; the name has rerated in 2026 as a high-yield SET bank after a strong move from the December 2025 close, though it has pulled back from the early-August 52-week high.
| Market Cap (THB): 608.00B | Market Cap (USD): ~$18.46B (at ~THB 32.93/USD) |
| Current Price: THB 43.50 (as of 4 September 2026 last sale) | 52-Week Range: THB 24.30-46.00 |
| P/E Ratio: 12.2 (TTM) | P/BV: 1.30x |
| Dividend Yield: 6.1% (latest indicated) | Avg Daily Value: THB 1.4B-2.9B |
KTB — Still the large bank with no interim out. Street is still treating a September board as the live question.
Comment: Not saying that this will happen…but just imagine what happens to bank share prices the moment 1 bank stops this special divvy
Thai Airways International PCL is Thailand’s flag carrier, operating passenger, cargo and related aviation services on long-haul and regional routes after completing court-supervised rehabilitation and returning to SET trading. The Ministry of Finance remains the largest shareholder; the stock has derated from the post-relisting 52-week high even as TTM earnings stay positive.
| Market Cap (THB): 161.33B | Market Cap (USD): ~$4.90B (at ~THB 32.93/USD) |
| Current Price: THB 5.70 (as of 4 September 2026 last sale) | 52-Week Range: THB 5.25-15.20 |
| P/E Ratio: 7.8 (TTM) | P/BV: 1.97x |
| Dividend Yield: 3.7% (latest indicated) | Avg Daily Value: THB 200M-600M |
THAI — SAF transition: THAI’s CEO proposes a 1–2% sustainable aviation fuel mandate as the aviation sector faces increasing pressure to reduce carbon emissions. This could accelerate Thailand’s aviation decarbonisation and become increasingly relevant for airline operating costs and the broader domestic SAF supply chain.
Comment: … Just get out there and grab the market….
| Ticker | Mkt Cap (USD) | Price (THB) | P/E (TTM) | P/BV | Div Yield | YTD 2026 | Analysis |
|---|---|---|---|---|---|---|---|
| GULF.BK | $28.02B | 61.75 | 24.5 | 2.74x | 1.7% | ▲ +47.9% | View → |
| KTB.BK | $18.46B | 43.50 | 12.2 | 1.30x | 6.1% | ▲ +54.0% | View → |
| THAI.BK | $4.90B | 5.70 | 7.8 | 1.97x | 3.7% | ▼ −18.0% | View → |
| THCOM.BK | $346M | 10.40 | 18.2 | 1.08x | 1.3% | ▲ +20.2% | View → |
Sources: SET, Yahoo Finance, Investing.com, company IR and market data as of 4 September 2026 last sale (snapshot dated 7 September 2026). USD figures = THB market cap ÷ 32.93. Tickers queried as .BK. Not investment advice.
Corporate events
XD today — BCP ฿3.00; CIMBT ฿0.0385; MST ฿0.14; OR ฿0.30; PTTGC ฿0.60; TISCO / TISCO-P ฿2.00; TTB ฿0.081. DR: GOOGL03.
Tomorrow — SCB ฿2.00 and BDMS ฿0.35 go XD on 8 Sep. KBANK ฿2.00 on 9 Sep.
CIMBT / GLAND / LRH — Last-trade window continues through 11 Sep. Cash balance only. Delist 12 Sep.
Still open — FMT tender, 27.72m shares at ฿18, through 17 Sep.
SET — New IPO / secondary-listing rules for “New Economy” and foreign issuers take effect 11 Sep. Not a ticker event.
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