BEM reported 5 tranches of bond total Bt5b sold out, 5.2x times covered, pays 3.07-4.05% p.a., will use proceed to refinance Blue line MRT project. Comment: Strong players are going to be perfectly fine. Look at that cost of financing, it’s peanuts. EA expects to wrap up big-lot EV orders by end of 1Q, target […]

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AOT sets Bt9b capex to expand East terminal, adding 66k sq.m. to up SIA capacity to 60m psx p.a. from current 45m, expects to open bid within Apr-May, begin construction in July, target completion within 2 years. AOT’s expected to report after close Bt5.1b 1Q24 (ending Dec 23) consensus. Comment: People forget that AOT had […]

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CHAYO: board gives nod to spin-off P-Loan unit, Chayo Capital, (CCAP) will sell IPO 125m shares (25% of paid-up) & list on MAI. Comment: And investors will be surprised by how small this entity is. (or not) GPSC acquires 50% of PTT’s renewable unit, Global Renewable Power (GRP), for Bt1.275b, to complete by end of […]

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AP maintains aggressive launch plan in 4Q, total 23 projects worth Bt35.74b comprise of 11 townhome (Bt11.05b), 9 SDH (Bt16.45b), 2 condo (Bt7.3b) & 1 upcountry projects (Bt940m), will kick-off presales of Bt2.3b condo 29 storey 593 units, Aspire Vibha-Victory, on double day 11.11. Comment: The decent listed players are doing far better than most […]

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A (sort of) New SET calculation After years of sitting on their butts the exalted individuals that are running the SET have instead of deciding to fix the free float requirements of joining the SET50 (hello DELTA), instead they are going to launch a brand spanking index that will take into account the free float […]

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AOT: Malaysian low-cost airline MYAirline, launched daily four daily flights to BKK (2 SIA & 2 DMK) starts Jul 1, mulls flying from KL to Phuket & Chiang Mai by eoy. Comment: Great to see more competition (as an end-user). BCP expects to wrap up 65.99% ESSO stake buy in 4Q, while insisting that Bt9.94 […]

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BGC reaffirms 10% full year revenue growth target supported by strong demand bottles & label on improved tourism, lower energy costs yoy, expects positive momentum carry thru high season in 4Q. Comment: Ah, if the liberalisation of the alcohol industry goes ahead, how hurt would BGC’s growth prospects be? Or will they be able to […]

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CPANEL reported 6 contracts signed in May to supply precast concrete (4 horizontal, 2 vertical) total Bt263.8m, lifting backlog to Bt1.311b, mulls expand capacity by 25% to 990k sqm. by end of 3Q to expand wider range of products. DMT sees daily avg tollway traffic QTD at 98k trips/d driven by recovery air traffic via […]

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AP’s 1Q presale reached Bt11b, Bt41.4b backlog, sees momentum into 2Q with 17 projects worth Bt22.1b. BCP to expand its energy logistics business thru its unit, BKK Fuel Pipeline and Logistics (BFPL), to provide oil transport services thru pipelines. Comment: Where pump? Let’s see after 1Q earnings, the market is looking weak. BGRIM debuts 1st […]

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AH sees strong 1Q on seasonal, firms on Bt31b record rev t/g this year, supported by 4% growth in domestic car production growth, OEM, and easing chip shortage. Comment: Over time you have to look at AH as a steady 10% compounder, but with periods where they spike and then mean revert because at the […]

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