Report

New Street: Thai telcos A better quarter, especially for AIS; Q1 21 review

Thai operators have reported a better quarter overall. The impact from last year’s pandemic and competition are still visible, but we saw improvements in trends across the board in Q1 with market top line growth starting to inflect.
Underlyings
Advanced Info Service Public Co. Ltd.

Advanced Info Service Public Co., via its subsidiaries, is engaged in the operation of a 900 MHz cellular telephone system, the acting as a service provider of online data communications service via telephone land lineand optical fiber and service provider of call center and service provider of digital mobile phone network; distributor of cash card business; service provider of electronic payment and cash card; service provider of international telephone service/gateway; andservice provider of cellular telephone network in 2.1-GHz and 1800MHz frequency. As of Dec 31 2015, Co. had three segments: mobile phone and call center services; mobile phone sales; and datanet and broadband services.

True Corp. Public Co. Ltd.

True Corporation Public Company Limited is a Thailand-based integrated communication solution provider. The Company and its subsidiaries categorize the business into three segments: online segment, which is the provision and installation of fixed line services including public telephones and related value-added services, data services, multimedia services, broadband services and Internet services; wireless segment, which is the provision of cellular telephone services, resale of 3G services using high-speed packet access (HSPA) technologies, network equipment rental, mobile services and sales of handsets and accessories, and pay television (Pay-TV) segment, which is the provision of pay television services both via cables and satellite platforms, rental and trading of related equipment and other related services to the pay television business, advertising sale and agency.

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
  • Pan European Healthcare
  • Global healthcare thematic research

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  • Pan European Telecom Services and Cable


Analysts
Chris Hoare

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