reports
Bangkok Dusit Medical Services Public Company Limited: 1 director
A director at Bangkok Dusit Medical Services Public Company Limited sold 1,000,000 shares at 31.250THB and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's ...
- Benjaphol Suthwanish
Bangkok Dusit Medical Services (BDMS TB) - Embrace The Low Season And ...
The tone of BDMS’ analyst meeting in reviewing its 2Q24 results was positive. Despite being in the low season, BDMS still posted a decent yoy growth. Management implemented effective and promising strategies in order to improve BDMS’ performance. We are positive on the company’s prospect which is poised to see a more outstanding growth in the upcoming high season in 3Q24. Maintain BUY. Target price: Bt32.00.
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
- Thailand Research Team
- Thanawat Thangchadakorn
Thailand Daily - Thursday, August 15, 2024
KEY HIGHLIGHTS Strategy Uncertainties Arise as Court Removes PM from Office The court’s verdict raises concerns for the equities market and sector regarding policy continuity and economic stimulus, especially commerce. Results Central Plaza Hotel (CENTEL TB/SELL/Bt32.75/Target: Bt46.00) 2Q24: Weaker-than-expected results. CH Karnchang PCL (CK TB/BUY/Bt18.00/Target: Bt26.50) 2Q24: In line with expectations; expect volatility from polit...
ORI ORIGIN PROPERTY
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
TOP THAI OIL PUBLIC CO. LTD.
CENTEL CENTRAL PLAZA HOTEL
HANA HANA MICROELECTRONICS PCL
SAWAD SRISAWAD CORPORATION PUBLIC COMPANY LTD
KCE KCE ELECTRONICS PUBLIC CO. LTD.
PSH PRUKSA HOLDING PCL
CK CH. KARNCHANG PUBLIC CO LTD
ONEE THE ONE ENTERPRISE PCL
- Adrian Loh Tzum Yung
- Bella Lu Yifei
- Benjaphol Suthwanish
- Chong Lee Len
- Desmond Chong Chee Wai
- Jack Goh Tooan Orng
- Johnny Yum Chung Man
- Julia Pan Mengyao
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Ken Lee
- Kitpon Praipaisarnkit
- Llelleythan Tan Tan
- Ming San Soong
- Roy Chen Chengzhi
- Stevanus Juanda
- Thailand Research Team
- Wei Xiang Ku
Regional Morning Meeting Notes: Thursday, August 15, 2024
GREATER CHINA Results Nexteer (1316 HK/SELL/HK$2.89/Target: HK$1.50) 1H24: Earnings miss estimates on revenue. Maintain SELL. Cut target price from HK$2.20 to HK$1.50. Tencent Holdings (700 HK/BUY/HK$373.80/Target: HK$490.00) 2Q24: Solid margin expansion; reaccelerated online games revenue growth. Update Foxconn Industrial Internet (601138 CH/BUY/Rmb21.38/Target: Rmb30.00) AI business continues to accelerate, GB200 scheduled to ship i...
G13 GENTING SINGAPORE
CC3 STARHUB LTD
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
MAG. MAG SILVER CORP.
S63 SINGAPORE TECHNOLOGIES ENGINEERING LTD
C09 CITY DEVELOPMENTS LIMITED
INDF PT INDOFOOD SUKSES MAKMUR TBK
7148 DUOPHARMA BIOTECH
5162 VSTECS
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
00700 TENCENT HOLDINGS LTD.
GENT GENTING BHD
VSI V.S. INDUSTRY BERHAD
FNH FRASER & NEAVE HOLDINGS BHD
CPALL TB CP ALL
BAUTO BERMAZ AUTO BHD
TXG 10X GENOMICS INC CLASS A
DBB DUOPHARMA BIOTECH BHD
TGIF 1933 INDUSTRIES
RGB RGB INTERNATIONAL BHD
601138 FOXCONN INDUSTRIAL INTERNET CO. LTD. CLASS A
CK CH. KARNCHANG PUBLIC CO LTD
CLI CAPITALAND INVESTMENT LTD
Z29 029 GROUP SE
GENTMK GENTING BERHAD
VST VSTECS BHD
3BBIF 3BB INTERNET INFRASTRUCTURE FUND
- Benjaphol Suthwanish
Bangkok Dusit Medical Services (BDMS TB) - We Should See A Normalised ...
We expect to see BDMS with a net profit of 3.2b in 2Q24 (+3.4% yoy, -22.2% qoq), dropping qoq due to seasonality. Without the norovirus outbreak like last year, BDMS resumes its normal operation in the usual low season in 2Q24. We should still see a yoy growth, driven by the increase in patient volume (especially the international patients). Maintain BUY. Target price: Bt32.00.
- Benjaphol Suthwanish
- Kitpon Praipaisarnkit
- Adrian Loh Tzum Yung
- Arsit Pamaranont
- Bella Lu Yifei
- Jonathan Koh
- Kate Luang
- Ken Lee
- Paula Ruth
- Philip Wong
- Singapore Research Team
Regional Morning Meeting Notes: Thursday, July 04, 2024
GREATER CHINA Strategy Small-Mid Cap Monthly Reiterate BUY on Plover Bay Technologies. Sector Automobile Weekly: Sales of top 12 EV brands up 38% wow last week, in line. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL and Tuopu. Top SELL: XPeng. INDONESIA Update Sarana Menara Nusantara (TOWR IJ/BUY/Rp745/Target: Rp890) Number of towers to jump 10% on a...
300014 EVE ENERGY CO. LTD. CLASS A
G13 GENTING SINGAPORE
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
5225 IHH HEALTHCARE BHD.
S63 SINGAPORE TECHNOLOGIES ENGINEERING LTD
544 CSE GLOBAL LTD.
D05 DBS GROUP HOLDINGS LTD
U11 UNITED OVERSEAS BANK LTD. (SINGAPORE)
V03 VENTURE CORPORATION LIMITED
U96 SEMBCORP INDUSTRIES LTD.
B8O YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD.
TOWR PT SARANA MENARA NUSANTARA TBK
ALPHA ALPHA BANK AE
BH BUMRUNGRAD HOSPITAL PUBLIC CO. LTD.
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
M3I MINTH GROUP LIMITED
BN4 KEPPEL CORPORATION LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
BCH BANGKOK CHAIN HOSPITAL PCL
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
SPRC STAR PETROLEUM REFINING
VALUE VALUE8 N.V.
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
01585 YADEA GROUP HOLDINGS LTD.
2333 GREAT WALL MOTOR CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
2338 WEICHAI POWER CO. LTD. CLASS H
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
327 PAX GLOBAL TECHNOLOGY
FEHT FAR EAST HOSPITALITY TRUST
KPJ KPJ HEALTHCARE BERHAD
MINT MAPLETREE INDUSTRIAL TRUST
RFMD RAFFLES MEDICAL GROUP LTD
TXG 10X GENOMICS INC CLASS A
DBB DUOPHARMA BIOTECH BHD
TGIF 1933 INDUSTRIES
1772 PAX GLOBAL TECHNOLOGY LTD
FRKN GANFENG LITHIUM CO. LTD. CLASS H
300750 FRENCKEN GROUP LTD
3606 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
603305 FUYAO GLASS INDUSTRY GROUP CO LTD-H
MPM NINGBO XUSHENG AUTO TECHNOLOGY (A)
002920 MARCO POLO MARINE LTD
CLI HUIZHOU DESAY SV AUTOMOTIVE CO LTD
2232 CAPITALAND INVESTMENT LTD
Z29 CRYSTAL INTERNATIONAL GROUP LTD
02015 029 GROUP SE
09868 LI AUTO INC
600699 XPENG INC
1523 NINGBO JOYSON ELECTRONIC CORP
PLOVER BAY TECHNOLOGIES LTD (1523 HK)
- Benjaphol Suthwanish
Bangkok Dusit Medical Services (BDMS TB) - Expect A Seasonal Drop In 2...
BDMS has been gradually improving in profitability ever since the COVID-19 outbreak eased. We should see steady growth going forward as international patients have returned and the daily volume has recovered. There are also factors supporting the growth in patient volume and treatment prices. However, we foresee a qoq drop in 2Q24 due to seasonality. Maintain BUY. Target price: Bt32.00.
- Benjaphol Suthwanish
- Greater China Research Team
- Johnny Yum
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
REG: Strategy: Alpha Picks - December 2023
GREATER CHINA Strategy Alpha Picks: December Conviction Calls: We add a mix of turnaround stocks and beneficiaries of policy support to our BUY list − CSPC, HKEX, Lenovo, Longfor, Pinduoduo and Sunny Optical. INDONESIA Strategy Alpha Picks: Underperformance With A 3.7% Return: Our picks are GOTO, BMRI, JSMR, TLKM, BBNI, NCKL, CTRA, MYOR and AKRA. MALAYSIA Strategy Alpha Picks: Still Focusing On Domestic Winners: Our Alpha Picks trounced the FBMKLCI in Nov 23, mostly thanks to Hume’s run-up. De...
MAJOR MAJOR CINEPLEX GROUP PCL
AS7 ANTA SPORTS PRODUCTS LTD.
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
KKP KIATNAKIN BANK
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
00016 SUN HUNG KAI PROPERTIES LIMITED
00992 LENOVO GROUP LIMITED
ES ESSO SOCIETE ANONYME FRANCAISE
AKRA PT AKR CORPORINDO TBK
544 CSE GLOBAL LTD.
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
CTRA CIPUTRA DEVELOPMENT
EGCO ELECTRICITY GENERATING PUBLIC CO. LTD.
STEC SINO-THAI ENGINEERING & CONSTRUCTION PCL
02328 PICC PROPERTY & CASUALTY CO. LTD. CLASS H
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
T13 RH PETROGAS
V03 VENTURE CORPORATION LIMITED
ERW ERAWAN GROUP
TOP THAI OIL PUBLIC CO. LTD.
U96 SEMBCORP INDUSTRIES LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
RLF LONGFOR GROUP HOLDINGS LTD.
KLBF PT KALBE FARMA TBK
EA ENERGY ABSOLUTE PUBLIC CO. LTD.
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
COM7 COM7
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
600519 KWEICHOW MOUTAI CO. LTD. CLASS A
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
MYOR MAYORA INDAH
C52 COMFORTDELGRO CORPORATION LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
Z74 MINOR INTERNATIONAL PUBLIC CO. LTD.
MAPI SINGAPORE TELECOMMUNICATIONS LIMITED
O39 MITRA ADIPERKASA
ADRO OVERSEA-CHINESE BANKING CORPORATION LIMITED
601633 PT ADARO ENERGY TBK
601888 GREAT WALL MOTOR CO. LTD. CLASS A
PTTGC CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
TLKM PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ROTI PT TELKOM INDONESIA (PERSERO) TBK CLASS B
VALUE NIPPON INDOSARI CORPINDO
SE VALUE8 N.V.
INRI SEA ADS
1801 INARI AMERTRON BHD
FEHT INNOVENT BIOLOGICS INC
PTTEP-R FAR EAST HOSPITALITY TRUST
SIE PTT EXPLORATION & PRODUCTION PCL NVDR
BAL SIA ENGINEERING CO LTD
KPJ BUMITAMA AGRI LTD
SMM KPJ HEALTHCARE BERHAD
MINT SEMBCORP MARINE LTD
BURSA MAPLETREE INDUSTRIAL TRUST
IOI BURSA MALAYSIA BHD
CPALL TB IOI CORP BHD
GENM CP ALL
2013 GENTING MALAYSIA BHD
6098 WEIMOB INC
EKO COUNTRY GARDEN SERVICES
HUME EKOVEST BHD
RGB HUME INDUSTRIES BHD
SCB-R RGB INTERNATIONAL BHD
709 SIAM COMMERCIAL BANK PCL NVDR
FEH GIORDANO INTERNATIONAL LTD
1093 FOOD EMPIRE HOLDINGS LTD
9988 CSPC PHARMACEUTICAL GROUP LTD
1199 ALIBABA (9988 HK)
FRKN COSCO SHIPPING PORTS LIMITED
MPM FRENCKEN GROUP LTD
2696 MARCO POLO MARINE LTD
KEX SHANGHAI HENLIUS BIOTECH INC
OR KERRY EXPRESS (THAILAND)
1024 PTT OIL & RETAIL BUSINESS PCL
TIDLOR KUAISHOU TECHNOLOGY
1209 NGERN TID LOR PCL
9868 CHINA RESOURCES MIXC LIFESTYLE SERVICES
9888 XPENG INC
BUKA BAIDU INC
2015 BUKALAPAK.COM PT TBK
CVL LI AUTO INC
PDD CIVMEC
9999 HK PINDUODUO PDD US
9961 NETEASE INC
BBNI TRIP.COM GROUP LTD
GOTO BANK NEGARA INDONESIA PERSER
CMRY GOJEK TOKOPEDIA TBK PT
SMGR PT CISARUA MOUNTAIN DAIRY TBK
NATGATE SEMEN INDONESIA PERSERO TBK
NCKL NATIONGATE HOLDINGS BHD
SUNWAY PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
ESSO SUNWAY BHD
ESSO THAILAND PCL
- Greater China Research Team
- Johnny Yum
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
REG: Strategy: Alpha Picks - November 2023
GREATER CHINA Strategy Alpha Picks: November Conviction Calls: We add a mix of defensives and turnaround stocks − COSCO Shipping, CR Mixc, Great Wall Motor, Innovent, Link REIT and NetEase − to our BUY list. INDONESIA Strategy Alpha Picks: Outperformance Despite Negative Returns: Our picks: TLKM, BBNI, SMGR, NCKL, CTRA, MYOR, AKRA and CMRY. MALAYSIA Strategy Alpha Picks: Focusing On Domestic Winners: Our Alpha Picks underperformed the FBMKLCI in Oct 23. Nov 23 picks: BUY BURSA, EKOVEST, GENM, ...
MAJOR MAJOR CINEPLEX GROUP PCL
AS7 ANTA SPORTS PRODUCTS LTD.
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
KKP KIATNAKIN BANK
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
00016 SUN HUNG KAI PROPERTIES LIMITED
00992 LENOVO GROUP LIMITED
00823 LINK REAL ESTATE INVESTMENT TRUST
ES ESSO SOCIETE ANONYME FRANCAISE
AKRA PT AKR CORPORINDO TBK
01109 CHINA RESOURCES LAND LIMITED
CTRA CIPUTRA DEVELOPMENT
STEC SINO-THAI ENGINEERING & CONSTRUCTION PCL
02328 PICC PROPERTY & CASUALTY CO. LTD. CLASS H
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
T13 RH PETROGAS
ERW ERAWAN GROUP
TOP THAI OIL PUBLIC CO. LTD.
U96 SEMBCORP INDUSTRIES LTD.
ESSO ESSO (THAILAND)
002594 BYD COMPANY LIMITED CLASS A
KLBF PT KALBE FARMA TBK
EA ENERGY ABSOLUTE PUBLIC CO. LTD.
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
COM7 COM7
600519 KWEICHOW MOUTAI CO. LTD. CLASS A
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
MYOR MAYORA INDAH
C52 COMFORTDELGRO CORPORATION LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
Z74 MINOR INTERNATIONAL PUBLIC CO. LTD.
MAPI SINGAPORE TELECOMMUNICATIONS LIMITED
O39 MITRA ADIPERKASA
Y92 OVERSEA-CHINESE BANKING CORPORATION LIMITED
601633 THAI BEVERAGE PUBLIC CO. LTD.
601888 GREAT WALL MOTOR CO. LTD. CLASS A
PTTGC CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
TLKM PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ROTI PT TELKOM INDONESIA (PERSERO) TBK CLASS B
SE NIPPON INDOSARI CORPINDO
INRI SEA ADS
1801 INARI AMERTRON BHD
FEHT INNOVENT BIOLOGICS INC
PTTEP-R FAR EAST HOSPITALITY TRUST
SIE PTT EXPLORATION & PRODUCTION PCL NVDR
BAL SIA ENGINEERING CO LTD
KPJ BUMITAMA AGRI LTD
SMM KPJ HEALTHCARE BERHAD
MINT SEMBCORP MARINE LTD
BURSA MAPLETREE INDUSTRIAL TRUST
IOI BURSA MALAYSIA BHD
CPALL TB IOI CORP BHD
GENM CP ALL
2013 GENTING MALAYSIA BHD
6098 WEIMOB INC
EKO COUNTRY GARDEN SERVICES
HUME EKOVEST BHD
SCB-R HUME INDUSTRIES BHD
709 SIAM COMMERCIAL BANK PCL NVDR
FEH GIORDANO INTERNATIONAL LTD
9988 FOOD EMPIRE HOLDINGS LTD
1199 ALIBABA (9988 HK)
FRKN COSCO SHIPPING PORTS LIMITED
MPM FRENCKEN GROUP LTD
2696 MARCO POLO MARINE LTD
KEX SHANGHAI HENLIUS BIOTECH INC
OR KERRY EXPRESS (THAILAND)
1024 PTT OIL & RETAIL BUSINESS PCL
TIDLOR KUAISHOU TECHNOLOGY
1209 NGERN TID LOR PCL
9868 CHINA RESOURCES MIXC LIFESTYLE SERVICES
9888 XPENG INC
BUKA BAIDU INC
2015 BUKALAPAK.COM PT TBK
CVL LI AUTO INC
9999 HK CIVMEC
9961 NETEASE INC
BBNI TRIP.COM GROUP LTD
CMRY BANK NEGARA INDONESIA PERSER
ADOOY PT CISARUA MOUNTAIN DAIRY TBK
SMGR PT ADARO ENERGY TBK
NATGATE SEMEN INDONESIA PERSERO TBK
NCKL NATIONGATE HOLDINGS BHD
SUNWAY PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
SUNWAY BHD
- Greater China Research Team
- Johnny Yum
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
REG: Strategy: Alpha Picks - October 2023
GREATER CHINA Strategy Alpha Picks: October Conviction Calls: We expect further downside pressure, so we add SELLs on Henlius and Xpeng to the list, on top of BUYs on Anta, Lenovo, PICC P&C and SHKP. INDONESIA Strategy Alpha Picks: Potential Bull Market in 4Q23: Our picks: BBNI, SMGR, NCKL, MAPI, CTRA, MYOR, AKRA and CMRY. MALAYSIA Strategy Alpha Picks: A Handful Of Events To Capitalise On: Our Alpha Picks modestly outperformed the FBMKLCI in Sep 23. Oct 23 picks: BUY BURSA, HAPL, HUME, MAHB a...
MAJOR MAJOR CINEPLEX GROUP PCL
AS7 ANTA SPORTS PRODUCTS LTD.
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
KKP KIATNAKIN BANK
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
00016 SUN HUNG KAI PROPERTIES LIMITED
00992 LENOVO GROUP LIMITED
ES ESSO SOCIETE ANONYME FRANCAISE
AKRA PT AKR CORPORINDO TBK
01109 CHINA RESOURCES LAND LIMITED
CTRA CIPUTRA DEVELOPMENT
STEC SINO-THAI ENGINEERING & CONSTRUCTION PCL
02328 PICC PROPERTY & CASUALTY CO. LTD. CLASS H
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
T13 RH PETROGAS
ERW ERAWAN GROUP
TOP THAI OIL PUBLIC CO. LTD.
U96 SEMBCORP INDUSTRIES LTD.
ESSO ESSO (THAILAND)
002594 BYD COMPANY LIMITED CLASS A
KLBF PT KALBE FARMA TBK
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
COM7 COM7
600519 KWEICHOW MOUTAI CO. LTD. CLASS A
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
MYOR MAYORA INDAH
C52 COMFORTDELGRO CORPORATION LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
MAPI MINOR INTERNATIONAL PUBLIC CO. LTD.
O39 MITRA ADIPERKASA
Y92 OVERSEA-CHINESE BANKING CORPORATION LIMITED
BN4 THAI BEVERAGE PUBLIC CO. LTD.
ADRO KEPPEL CORPORATION LIMITED
601633 PT ADARO ENERGY TBK
601888 GREAT WALL MOTOR CO. LTD. CLASS A
PTTGC CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
ROTI PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
SE NIPPON INDOSARI CORPINDO
PTTEP-R SEA ADS
BAL PTT EXPLORATION & PRODUCTION PCL NVDR
SMM BUMITAMA AGRI LTD
MYEG SEMBCORP MARINE LTD
MINT MY EG SERVICES BHD
BURSA MAPLETREE INDUSTRIAL TRUST
CPALL TB BURSA MALAYSIA BHD
GENM CP ALL
MAHB GENTING MALAYSIA BHD
2013 MALAYSIA AIRPORTS HLDGS BHD
6098 WEIMOB INC
HUME COUNTRY GARDEN SERVICES
SCB-R HUME INDUSTRIES BHD
709 SIAM COMMERCIAL BANK PCL NVDR
HAPL GIORDANO INTERNATIONAL LTD
9988 HAP SENG PLANTATIONS HOLDINGS BHD
MPM ALIBABA (9988 HK)
2696 MARCO POLO MARINE LTD
KEX SHANGHAI HENLIUS BIOTECH INC
OR KERRY EXPRESS (THAILAND)
1024 PTT OIL & RETAIL BUSINESS PCL
TIDLOR KUAISHOU TECHNOLOGY
9868 NGERN TID LOR PCL
9888 XPENG INC
BUKA BAIDU INC
2015 BUKALAPAK.COM PT TBK
CVL LI AUTO INC
9961 CIVMEC
BBNI TRIP.COM GROUP LTD
CLAS BANK NEGARA INDONESIA PERSER
SMGR CAPITALAND ASCOTT TRUST
NATGATE SEMEN INDONESIA PERSERO TBK
NCKL NATIONGATE HOLDINGS BHD
PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
- Waritthorn Kaewmuang
Bangkok Dusit Medical Services (BDMS TB) - Expect Satisfactory 2Q23 Ea...
We expect BDMS’s 2Q23 earnings to soften qoq on account of seasonality, despite being offset by a large number of appointments made by international patients in May- Jun 23 as well as several medical epidemics in Thailand. We expect BDMS’ 3Q23 to be highly robust as 3Q is the high season and the number of patients from the Middle East continues to recover. Maintain BUY. Target price: Bt33.00.
- Kitpon Praipaisarnkit
- Thailand Research Team
- Waritthorn Kaewmuang
- Waritthorn Kaewmuang
Bangkok Dusit Medical Services (BDMS TB) - New Growth Opportunities Fr...
We are mildly optimistic after a site visit to Bangkok Rayong Hospital (BRH) and Bangkok Rayong Cancer Hospital (BRC) since the launch of BRC will strengthen BDMS’ healthcare competency and enhance competitiveness, despite having a slight concern on possible losses during the early phase of operation. We still favour BDMS due to its diversification of patient base. Maintain BUY. Target price: Bt33.00.
- Waritthorn Kaewmuang
- Jacquelyn Yow Hui Li
- Jo Yee Ng
- Jonathan Koh
- Stella Guo Yuting
- Stevanus Juanda
- Waritthorn Kaewmuang
- Ziv Ang Sze Champ
Regional Morning Notes - Wednesday, June 07, 2023
GREATER CHINA Sector Commodities: Weekly: Steel prices rally on sentiment recovery; rainy season ahead. Update China Tourism Group Duty Free (601888 CH/BUY/Rmb117.71/Target: Rmb167.00): Margin remains a key concern; uncertain about supporting policy. INDONESIA Update Kalbe Farma (KLBF IJ/BUY/Rp2,040/Target: Rp2,400): Firing on all cylinders with M&A, selling price increase and raw material price decline. MALAYSIA Update GHL Systems (GHLS MK/BUY/RM0.825/Target: RM1.00): Hit record-high quarterl...
- Waritthorn Kaewmuang
Bangkok Dusit Medical Services (BDMS TB) - 1Q23: Earnings Hit A New Re...
BDMS reported a positive earnings surprise, hitting a new all-time high mostly driven by the consecutive recovery in international patients and robust gross margin. Although we expect limited room for aggressive growth from the high base and softening 2Q23 results, BDMS has the lowest downside risk among peers due to its diversification of patient bases. Upgrade to BUY. Target price: Bt33.00.
- Arsit Pamaranont
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kitpon Praipaisarnkit
- Kwanchai Atiphophai
- Tanaporn Visaruthaphong
- Waritthorn Kaewmuang
Thailand Daily - Friday, May 12, 2023
KEY HIGHLIGHTS Results Bangkok Chain Hospital (BCH TB/SELL/Bt18.80/Target: Bt17.30) 1Q23: A shocking earnings surprise to the downside on slumped margins. Downgrade to SELL Bangkok Dusit Medical Services (BDMS TB/BUY/Bt29.75/Target: Bt33.00) 1Q23: Earnings hit a new record high on robust revenue and margins. Upgrade to BUY. Bangkok Expressway and Metro (BEM TB/HOLD/Bt9.05/Target: Bt9.80) 1Q23: Earnings beat on lower-than-expected expenditure. GFPT (GFPT TB/BUY/Bt11.20/Target: Bt13.20) 1Q2...
PTT PTT PUBLIC COMPANY LIMITED
BEM BANGKOK EXPRESSWAY AND METRO PUBLIC COMPANY LIMITED
GFPT GFPT
BCH BANGKOK CHAIN HOSPITAL PCL
SPRC STAR PETROLEUM REFINING
BDMS-R BANGKOK DUSIT MEDICAL SERVICES PCL NVDR
PTT-R PTT (NVDR)
WHA TB WHA CORP PCL
SVI SVI PCL
ONEE THE ONE ENTERPRISE PCL
- Waritthorn Kaewmuang
Bangkok Dusit Medical Services (BDMS TB) - Expect Strong 1Q23 Results ...
We expect BDMS to report a small yoy drop and qoq increase in 1Q23 earnings, with international patients as a dominant growth driver. However, we expect a small margin contraction due to an expected increase in utility and staff expenses. Despite the positive outlook for 2023 and BDMS’ resilience to external uncertainties, upside is capped by its current demanding valuation. Maintain HOLD. Target price: Bt32.00.
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