III: buys 32% of cargo sale agent, Excel Air Cambodia (EAC) to expand access cargo sales for Emirate, ANA, Air China & Thai Air Asia in Cambodia, transaction to complete by end of-July. Comment: Not a bad move. ILM: furniture retailer, Index Living mall, debut IPO 105m shares at Bt 22 apiece. Comment: With this […]
Read More →AOT: to set up pre-export agricultural products inspection subsidiary to boost income from cargo-handing services, target cod after new cold-storage facility and prod certifying center completed in 6 months. BAFS: expects earnings bottom out 2Q from Bt 79m charge from one-off employee expense, sees 2H turnaround from recovery jet refueling business and recognition of northern […]
Read More →FPT: board approves disposal of 6 warehouses into FTREIT worth Bt 637m, expects to bk Bt 302m gains from assets sales. Comment: We’re seeing figures that warehouses specifically HREIT (from WHA) are now beginning to see increases in their occupancy numbers as a result of Chinese companies moving to Thailand MDX: reaffirms solid 2Q from […]
Read More →Electricity Generating Authority (EGAT) to open bid for 45mw floating solar projects at Sirindhorn dam on August 20, SCC, GPSC, SPCG, GUNKUL, WHAUP, EPCO expected to join. New sugary drink taxes structure starts from October 1, drinks containing 6-8g of sugar/ 100ml will be charged Bt 0.3, 10-14g/Bt 1/ltr, 14-18g/Bt 3/ltr, >18g/Bt5/liter. Comment: Which companies […]
Read More →The financial sector has started the earnings release and they look crap, zero loan growth, profit down, lots of write off’s. Amusingly the only decent looking bank in this quarter was KTB (note: BAY was good too, but quite illiquid), but that’s because of the massive write off’s they took in 2018.
Read More →Notable Transactions Buy(s) THB 63 mn PLAT – The Vice Chairman buys a block of shares above market price…market participants have been waiting for a potential turnaround of performance for the new building. Sell(s) THB 283 mn BM – Must be a typo in the SEC’s register, but for now this is what it looks […]
Read More →FPO: Limited budget to fund populist policies : The Finance Ministry is looking to scale down the new government’s populist campaign promises, given the constraints of the available budget and a delay in the fiscal 2020 budget process. Bangkok Post BoT starts siege on hot-money flows : Baht weakens, SET shaken after announcement . The […]
Read More →BEM sees 10% ridership growth this year to 500K/day from extension of Blue Line, sets 25% revenue growth target next year, free trial run Blue line extension Hua Lamphong-Bang Khae MRT from Jul 29 – Sept 28, expects FY20 ridership +25% yoy. Comment: For BEM – specific to the MRT – it’s a scale game, […]
Read More →New Energy minister, Sontirat Sontijirawong, to review 2018 PDP on 1st day in the office, following objection by the ombudsman that EGAT’s 2018 PDP allowed private power co, to shr role of producing electricity after which state’s contribution was cut to <50%, violating national security. GULF likely impact the most as its 100% private owned […]
Read More →We’ve been receiving updates from our international custodian regarding the moves made by the BOT and this is the latest. What do we think the impact may be? Perhaps it will reign in some of the strength in the THB but by “ BOT is concerned about the rapid appreciation of the Thai Baht which […]
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