BEM upbeats 1Q earnings from 200k average MRT ridership/day, 1m trips tollway usage/day. CENTEL sees recovery in hotel and F&B business to Bt5.9b and Bt12b to the level seen in 2019, boosted by relaxed PCR rules for tourists starting April 1, and 2 new hotels in Dubai and Samui. Comment: No reason to be surprised, […]

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BAM allots Bt9b budget to add bad debts, maintained Bt17b full year cash collection target, in talk partner to establish jv distressed assets mgt on unsecured loans, inks deal 2Q. Comment: They’re going to have to raise capital, the amount of bad debt/npls that are going to continue coming after this massive rise in commodity […]

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BAM received a proposal from one bank for NPL & NPA port, confident of securing >1 JV deal with banks to set up AMC in 1H22, in talks with 4-5 banks, sets Bt9b capex. Comment: The listed players JMT CHAYO and BAM should have a great 5 years. CENTEL said OCC at its hotels in […]

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ASIAN: maintained 10% FT21 revenue growth target >Bt9.4b, supported by Pet food & frozen food export sales volume as demand grows on improved purchasing power, mulls listing canned tuna & fish meal producer subsidiary, Asian Alliance (AAI), on SET next year. CENTEL sees FY22 EBITDA turns positive supported by recovery F&B operation, expects hotel RevPar […]

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AOT said international airlines have regained more than 70% of the slots at Suvarnabumi airports, in anticipation of November 1 reopening, seeing sharp spike in travels in initial stage. ASAP sets Bt2,000m capex to acquire new cars, seeing higher demand for rental vehicles as the country prepares for reopening from November 1. Comment: I expect […]

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BANPU sees growth momentum into 2H on higher gas and coal price, sets Bt45.7b 5-year capex, firms on boosting EBITDA from clean energy business to 50% overall from 43% current. Comment: Sure but the next 12 months is driven by gas/coal, but now the impact is going to be far lower to EPS due to […]

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CENTEL sees advance booking pick up in Rayong & Trat as locals preferred short distance travel near BKK. Comment: And they’re planning to open all their F&B outlets by November. CPW sees positive 2Q sales momentum from Apple products & wearable items, firms on plan to add 7 branches in 2H, firms on 20% revenue […]

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CENTEL sets Bt10,400m 3-year capex for hotel, food and other investment, to open Phuket hotel for travel bubble program there from July 1. Comment: They’re going to capture the market share. CRC cuts FY21 revenue growth target to 10-11% from 10-12%, scale back CAPEX by 10-15% from Bt16-18b, delay 3 malls launch including Robinson Lifestyle […]

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AGE to buy 55 new transport trucks, hoping to boost revenue from logistic to Bt600-700m from Bt300m last year. Comment: Main story here is increasing coal prices and the inventory boost. AOT signs MOU with TAFA consortium to expand perishable goods cargo business at SIA. ATP30 mulls switching to EV van & EV bus for […]

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BGRIM: ADB sold 2.01% stake in overnight placement (52,295,200 share) at Bt51.40 – Bt52.40 per share, a discount of 2.5% to 4.4%, by JP and Citi. CENTEL signs 3 hotels, 2 in Vang Vieng, Laos & 1 in Khao Yai, adds 304 rooms in portfolios. Comment: I still think CENTEL > MINT in terms of […]

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