AWC collabs with Isetan Mitsukoshi Holding to open hi-end supermarket & food hall at One Bangkok mixed-use project. CIVIL anticipates positive earnings momentum carry thru 2H, supported by transfer of 5 construction project total Bt3.3b, Bt22.243b backlog pending to realize, mulls bidding public & private project total Bt4b later this year. Comment: That’s a decent […]

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AOT: HK Express will launch new route from HK to BKK (DMK) effective Apr 25 in addition to flights to BKK (SIA), Phuket, & Chiang Mai. Comment: Don’t discount the upside…the numbers are just going to continue astounding and I’m feeling rather certain that Thailand will hit another infra bottleneck within the next decade for […]

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AOT sets Bt6.66b to revamp 3 airports transferred from Department of Airport including Buriram, Krabi & U-don-Thani, will officially operate from 3Q24 (Apr-Jun). Comment: You won’t recognise these airports after they’re done. I’ve seen the improvements in some of the recently done airports, it’s just great. ADVANC is in talks with OR and a digital […]

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AMATA maintains 200 acres industrial land sales in 4Q23F, keeps 680 acres FY target, Bt10.6bn backlog and highlight that it expects more FDI in Thailand and Vietnam to drive earnings next year. Comment: Compared to WHA they’re still rubbish…but they’ll naturally benefit from the incoming FDI into Thailand. AOT’s president urges Ministry of Finance and […]

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AOT said flight schedule at 6 of its airports during winter rose 20.32%, sees continued growth in Chinese arrivals to 16% of overall next year from 12.9% current, while it’s normal to see Chinese carriers returning flight slots in Nov 23 – Mar 24, while Bt30/pax rise in PSC should bring in additional Bt3.6b rev […]

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AOT: Scandinavian Airlines (SAS) launched direct flight from Copenhagen to BKK for winter schedule (Oct 30 till Apr 2, 24), the first direct flight after suspended for 10 years. Comment: They didn’t make money the first time around, so they will now? CPAXT plans to invest Bt25-27b in FY24 to expand Makro wholesale, Lotus’s grocery, […]

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ADVANC: 3Qnp at Bt8.14b, +35% yoy, beats Bt7.36b consensus, strong SIM & devices sales, improved service revenue from broadband, larger 5G subscribers at 8.5m (eo-3Q) +54% yoy, lower depreciation & SG&A boost earnings. Comment: Less comp, reopening, low base comp, simple story AOT: Lufthansa redeploys A380 on direct service between Munich and Bangkok (SIA), the […]

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It’s been months since my last Random Thoughts, I’ve found a bunch I saved on evernote…so sit back, grab a patongo and enjoy. Models – poorly borrowed from Dilbert’s creator, Scott Adams, and modified slightly. Thailand – international bonds issuance? https://www.bangkokpost.com/business/general/2670539/thailand-eyes-international-bonds Thoughts: This, to me, is an important indicator for Thailand – 1) domestic liquidity […]

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BDMS sees >3% revenue growth this year on rising patients both local and foreign, with the latter account for 30%, its normal level. Comment: BDMS is too large to grow revenues at this point beyond price increases. CPAXT’s interested in joining government’s digital wallet scheme, sets 20% revenue growth target next year, mulls hybrid model […]

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AKR targets winning Bt200-300m of Bt500m EPC projects it plans to bid, eyes Bt3b bidding in transformer projects, with 10-12% winning rate. Comment: Even though I think the EV trend is bs purely because of basic engineering and science, if the government moves this way, Thailand does need to upgrade the entire grid system and […]

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