Stocks in the news (kbank, mint, ptg, scc, siri, thai, true) 21.01.26
Kasikornbank Public Company Limited is one of Thailand’s largest commercial banks, founded in 1945 and headquartered in Bangkok, offering comprehensive financial services across personal, SME, and corporate banking segments. The bank operates an extensive network of 839 branches domestically and maintains an international presence across nine countries in Southeast Asia and major global financial centers.
Key Metrics: Market Cap: THB 447.80B, P/E: 9.26, Dividend Yield: 6.61%
View full analysis on Perplexity Finance →KBANK – 4Q25 Results Snapshot: Slight Miss vs Consensus, FY In Line: 4Q25 net profit is at Bt10.28bn, a ~5% miss vs Bloomberg consensus of Bt10.82bn, reflecting softer-than-expected net interest income. NII declined 11% y/y to Bt31.91bn, below consensus of Bt33.7bn, as margin pressure persisted. This was partly offset by strong fee income growth (+11% y/y) and lower expected credit losses (-16% y/y). EPS came in at Bt4.34, down from Bt4.54 y/y. For FY25, KBANK delivered net profit of Bt49.56bn, broadly in line with consensus and flat y/y. Full-year performance continued to show margin pressure (NII -7.3% y/y) but was supported by resilient fee income growth (+5.9% y/y), keeping overall earnings stable.
Comment: The whole market knew about that 4Q #’s were going to be weak. Now comes the bids for divvy season.
Minor International Public Company Limited is one of Thailand’s largest hospitality and leisure companies, operating across three core business segments: hotels, restaurants, and lifestyle retail. Founded in 1978, the company has grown to operate over 560 hotels and serviced suites across 57 countries under prestigious brands including Anantara, Avani, Oaks, NH Hotels, and Tivoli, alongside more than 2,600 restaurant outlets in 26 countries featuring brands like The Pizza Company, The Coffee Club, Benihana, Sizzler, and Burger King.
Key Metrics: Market Cap: THB 132.11B, P/E: 16.52, Dividend Yield: 2.79%
View full analysis on Perplexity Finance →MINT – Minor International expects to secure 25 new hotel contracts and master agreements by end-1Q26, with around 60% of new signings coming from the Middle East and Asia. The company plans to debut multiple brands in the US this year (including New York and Miami) as well as in the Caribbean, while upgrading its brand presence in competitive markets through the Minor Reserve Collection and Colbert Collection to drive growth in mature markets.
Comment: Listed anywhere else this name is 50% higher.
PTG Energy Public Company Limited is a Thailand-based integrated energy and specialty retail operator that distributes petroleum products through a network of service stations under the PT trademark. Founded in 1988 and headquartered in Bangkok, the company employs a ‘light asset’ strategy by primarily operating company-owned, company-operated (COCO) stations through rental agreements, complemented by convenience stores (PT Mart and Max Mart), coffee shops (Punthai Coffee), and automotive services (Autobacs).
Key Metrics: Market Cap: THB 13.19B, P/E: 14.36, Dividend Yield: 4.43%
View full analysis on Perplexity Finance →PTG – PTG plans Bt4bn in capex to add 20 new retail fuel stations and expand its Punthai Coffee and Autobacs businesses. The company targets FY fuel sales volume growth of more than 10% y/y, exceeding 7bn liters.
Comment: Question on the re-leasing of land on locations – and I’m still of the viewpoint oil prices move upwards, but still unloved…politics…
The Siam Cement Public Company Limited (SCC), founded in 1913 as Thailand’s first cement manufacturer, is the largest and oldest cement and building materials company in Southeast Asia and a leading industrial conglomerate in the ASEAN region. Operating through three core business segments—Cement-Building Materials, Chemicals, and Packaging—the company manufactures and distributes a diverse portfolio including cement, ready-mixed concrete, building materials, olefins, polyolefins, vinyl products, and integrated packaging solutions across Thailand, Vietnam, Indonesia, China, and other international markets.
Key Metrics: Market Cap: THB 253.2B, P/E: 14.67, Dividend Yield: 2.37%
View full analysis on Perplexity Finance →SCC – SCC’s Vietnam-based pipe manufacturer, Binh Minh Plastics JSC (50% stake via subsidiary Nawaplastic Industry), is well positioned to benefit from Vietnam’s construction upcycle. SCC views Vietnam as a cornerstone of its long-term growth strategy and a “second home base” after Thailand, with further investments planned across packaging, logistics, chemicals, and construction materials. Most recently, SCC invested an additional US$500m in its largest petrochemical complex in Vietnam.
Comment: They’ve invested a stupid amount of money that they dare not walk away from Vietnam.Â
Sansiri Public Company Limited is one of Thailand’s leading real estate developers, founded in 1984 and listed on the Stock Exchange of Thailand since 2000. The company specializes in developing diverse residential properties including single-detached houses, townhouses, and condominiums across all market segments—from luxury to affordable housing—primarily in the Bangkok Metropolitan Region and key provinces throughout Thailand. Beyond property development, which generates approximately 90% of total revenue, Sansiri operates complementary businesses including property management and brokerage services.
Key Metrics: Market Cap: THB 24.76B, P/E: 6.45, Dividend Yield: 9.15%
View full analysis on Perplexity Finance →SIRI – Sansiri targets Bt48bn in residential presales and Bt39bn in transfers. Its FY26 launch plan remains unchanged at 33 projects worth Bt51bn (17 low-rise projects worth Bt25bn and 16 condominium projects worth Bt26bn). All land plots for this year’s launches have been secured, with around 80% of new projects positioned in the premium and mid-market segments to capture higher-quality purchasing power.
Comment: The property market isn’t dead, it’s the speculators and rubbish developers that are gone.
Thai Airways International Public Company Limited (THAI.BK) is Thailand’s flag carrier airline, founded in 1960 and headquartered in Bangkok, operating from its primary hub at Suvarnabhumi Airport. The company provides comprehensive air transportation services for passengers, cargo, and mail across domestic and international routes spanning Asia, Europe, and Oceania, serving 51 international and 9 domestic destinations with a fleet of 80 aircraft. As a founding member of Star Alliance, Thai Airways operates through three main segments: Air Transportation Activities, Business Units, and Other Activities.
Key Metrics: Market Cap: THB 206.61B, P/E: N/A, Dividend Yield: N/A
View full analysis on Perplexity Finance →THAI – The EGAT Saving and Credit Cooperative pledged not to sell its shares even after the lock-up period expires on 4 February. The statement was made at its conference, citing confidence in Thai Airways’ fundamentals and outlining strategic assessments ahead of the end of the silent period. EGAT Saving and Credit Cooperative is currently the third-largest shareholder with a 5.43% stake (1.54bn shares, including shares from convertible debt conversion).
Comment: SET50 SET50 SET50 SET50
True Corporation Public Company Limited is Thailand’s leading integrated telecommunications and technology company, headquartered in Bangkok and employing approximately 11,763 people. Founded in 1990 and listed on the Stock Exchange of Thailand since 2000, the company operates through three main segments—TrueMove H (mobile services), TrueOnline (broadband internet), and TrueVisions (pay television)—providing comprehensive voice, data, entertainment, and digital solutions to nearly 25 million subscribers across Thailand. Under the leadership of Group CEO Sigve Brekke, True Corporation has positioned itself as a digital growth champion with Thailand’s most extensive 5G network.
Key Metrics: Market Cap: THB 428.45B, P/E: N/A, Dividend Yield: 1.53%
View full analysis on Perplexity Finance →TRUE – The Administrative Court ruled in favor of TRUE in its case against National Telecom (NT), stating that the company is not required to pay additional royalties on interconnection charge revenue for the 16th year of the concession. NT retains the right to appeal to the Supreme Administrative Court within 30 days from the judgment date.Â
Comment: It’s great to paid off…more power for the duopolies.Â
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