View 
FILTERS (0)
* Not connected to ResearchPool

MORE FILTERS

  
reports
Carol Dou Xiao Qin ... (+12)
  • Carol Dou Xiao Qin
  • Gigi Cheuk
  • Heidi Mo Jinghui
  • Jack Lai Yuan Khai
  • John Cheong Ming Chern
  • Julia Pan Mengyao
  • Kate Luang
  • Lester Siew
  • Ming San Soong
  • Sunny Chen
  • Thanawat Thangchadakorn
  • Willinoy Sitorus

Regional Morning Meeting Notes: Thursday, June 19, 2025

GREATER CHINA Sector Healthcare Entering a new phase of accelerated growth. Upgrade to OVERWEIGHT. Internet 618 Festival – Evolving consumer trends and continued focus on value for money. Small/Mid Cap Highlights JBM Healthcare (2161 HK/BUY/HK$2.85/Target: HK$3.31) Takeaways from luncheon. INDONESIA Update Kalbe Farma (KL...

Adrian Loh Tzum Yung ... (+14)
  • Adrian Loh Tzum Yung
  • Bella Lu Yifei
  • Benjaphol Suthwanish
  • Carol Dou Xiao Qin
  • Jack Goh Tooan Orng
  • Jonathan Koh
  • Julia Pan Mengyao
  • Kampon Akaravarinchai
  • Ken Lee
  • Ming San Soong
  • Paula Ruth
  • Posmarito Pakpahan
  • Sunny Chen
  • Thanawat Thangchadakorn

Regional Morning Meeting Notes: Friday, April 25, 2025

GREATER CHINA Results Aier Eye Hospital Group (300015 CH/BUY/Rmb12.72/Target: Rmb17.80) 2024: Satisfactory results; expects strong recovery in 2025. Upgrade to BUY. Ningbo Tuopu Group Co (601689 CH/BUY/Rmb50.96/Target: Rmb83.00) 4Q24: Earnings up 38.5% yoy, in line. Maintain BUY with target price unchanged at Rmb83.00. TAL Educational Group (TAL US/BUY/US$9.36/Target: US$14.00) 4QFY25: Earnings miss amid ramped-up investments in AI-powered learning. INDONESIA Sector Telecommun...

Thanawat Thangchadakorn
  • Thanawat Thangchadakorn

Bangkok Bank (BBL TB) - 1Q25: Results Beat Expectations; Investment Ga...

BBL reported 1Q25 earnings of Bt12.6b (+20% yoy, +21% qoq). The results beat our and consensus expectations by 11%. Provision expenses rose 19% qoq in 1Q25. The investment gain had come from the realised gain of the debt securities measured at FVOCI. According to UOB Economist Thailand, we forecast the policy rate will be 1.50% at the end of 2025. Therefore, we cut 2025-27 earnings to reflect the lower lending yield and NIM. Maintain HOLD with a lower target price of Bt154.00.

Benjaphol Suthwanish ... (+2)
  • Benjaphol Suthwanish
  • Thanawat Thangchadakorn

Thailand Daily - Friday, April 18, 2025

KEY HIGHLIGHTS Results Bangkok Bank (BBL TB/HOLD/Bt146.50/Target: Bt154.00) 1Q25: Results beat expectations; investment gain boosted the bottom line. TISCO Financial Group (TISCO TB/HOLD/Bt100.00/Target: Bt94.00) 1Q25: Results in line; revises down 2025 credit cost target to 100bp. Update Bumrungrad Hospital (BH TB/BUY/Bt168.00/Target: Bt232.00) Expect weak 1Q25 earnings due to margin pressure.

Thanawat Thangchadakorn
  • Thanawat Thangchadakorn

Bangkok Bank (BBL TB) - 2025 Financial Targets Similar To 2024's

We came away from BBL’s analyst meeting with a neutral view. Management has provided targets for 2025, which are quite similar to that of 2024, with the exception of loan growth and NIM. BBL’s CEO stated that the bank is considering improving the dividend payment. We will wait for the actual dividend announcement, which should be soon. BBL is also considering a stock buyback, but this will not happen in the near term. Maintain HOLD with a target price of Bt170.00.

Kampon Akaravarinchai ... (+2)
  • Kampon Akaravarinchai
  • Thanawat Thangchadakorn

Thailand Daily - Wednesday, February 19, 2025

KEY HIGHLIGHTS Results Muangthai Capital (MTC TB/BUY/Bt47.25/Target: Bt64.00) 4Q24: Earnings in line; a significant qoq reduction in credit cost. Update Bangkok Bank (BBL TB/HOLD/Bt154.00/Target: Bt170.00) 2025 financial targets similar to 2024’s. Thai Union Group (TU TB/BUY/Bt12.00/Target: Bt15.00) Flat yoy earnings growth for 2025 due to higher tax expenses.

Benyamin Mikael ... (+10)
  • Benyamin Mikael
  • Chong Lee Len
  • Damon Shen
  • Jack Goh Tooan Orng
  • Jieqi Liu
  • Julia Pan Mengyao
  • Kampon Akaravarinchai
  • Ming San Soong
  • Singapore Research Team
  • Thanawat Thangchadakorn

Regional Morning Notes - Wednesday, February 19, 2025

GREATER CHINA Results Baidu Inc (9888 HK/HOLD/HK$90.20/Target: HK$93.00): 4Q24: Solid earnings beat and strong AI cloud revenue growth outlook in 2025. Hysan Development (14 HK/BUY/HK$12.58/Target: HK$14.19): 2024: Positive growth in rental income supported stable DPS. INDONESIA Update Bumi Serpong Damai (BSDE IJ/BUY/Rp1,035/Target: Rp1,440): Expect continuation of all-time high marketing sales in 2025 (+10% yoy). MALAYSIA Results Hartalega Holdings (HART MK/BUY/RM2.61/Target: RM3.14): 3QFY25:...

Thanawat Thangchadakorn
  • Thanawat Thangchadakorn

Bangkok Bank (BBL TB) - 4Q24: Results In Line With Expectations; A Sig...

BBL reported 4Q24 earnings of Bt10.4b (+17% yoy, -17% qoq). The results were in line with our and consensus expectations. Provision expenses fell 7% qoq, resulting in a reduction in credit cost qoq. BBL reported a significant drop in NPL ratio qoq due to good results from debt restructuring in the past. However, we may see increased credit cost and NPL ratio like in the past regardless of an economic recovery. Maintain HOLD with a target price of Bt170.00.

Thanawat Thangchadakorn
  • Thanawat Thangchadakorn

Thailand Daily - Wednesday, January 22, 2025

KEY HIGHLIGHTS Results Bangkok Bank (BBL TB/HOLD/Bt151.50/Target: Bt170.00) 4Q24: Results in line with expectations; a significant drop in NPL ratio qoq. Kasikorn Bank (KBANK TB/BUY/Bt160.00/Target: Bt190.00) 4Q24: Results exceed market expectations; maintain normalised credit cost. Krung Thai Bank (KTB TB/BUY/Bt21.80/Target: Bt25.50) 4Q24: Results in line; big drop in credit costs signalling good asset quality. SCB X (SCB TB/BUY/Bt121.50/Target: Bt140.00) 4Q24: Results beat expectation...

Adrian Loh Tzum Yung ... (+6)
  • Adrian Loh Tzum Yung
  • Julia Pan Mengyao
  • Ming San Soong
  • Philip Wong
  • Stevanus Juanda
  • Thanawat Thangchadakorn

Regional Morning Notes - Wednesday, January 22, 2025

GREATER CHINA Results New Oriental Education & Technology Group (EDU US/BUY/US$64.80/Target: US$80.00): 2QFY25: Revenue in line but earnings miss expectations; better growth outlook in 2HFY25. INDONESIA Update Astra International (ASII IJ/BUY/Rp4,910/Target: Rp6,000): Diversifying its businesses to avoid depending solely on automobile. MALAYSIA Results Alpha IVF (ALPHA MK/BUY/RM0.33/Target: RM0.40): 2QFY25: Results within expectations as newly-launched sales office in China sees its maiden con...

Jonathan Koh ... (+8)
  • Jonathan Koh
  • Philip Wong
  • Posmarito Pakpahan
  • Shirley Wang Xueyi
  • Singapore Research Team
  • Stella Guo Yuting
  • Tham Mun Hon
  • Thanawat Thangchadakorn

Regional Morning Meeting Notes: Thursday, January 02, 2025

GREATER CHINA Economics PMI A strong rebound for non-manufacturing PMI. Sector Macau Gaming Dec 24 GGR below expectations; expect 2025 GGR to recover to 82% of 2019’s level. INDONESIA Update Mitra Keluarga Karyasehat (MIKA IJ/BUY/Rp2,540/Target: Rp3,300) Expect a double-digit earnings growth in 2025 MALAYSIA Sector Heal...

BDMS BANGKOK DUSIT MEDICAL SERVICES
KKP KIATNAKIN BANK
OU8 CENTURION
FCT FRASERS CENTREPOINT TRUST
5225 IHH HEALTHCARE BHD.
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
544 CSE GLOBAL LTD.
7090 APEX HEALTHCARE
KTB KRUNG THAI BANK PUBLIC CO. LTD.
V03 VENTURE CORPORATION LIMITED
U96 SEMBCORP INDUSTRIES LTD.
B8O YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD.
TISCO TISCO FINANCIAL GROUP
N2IU MAPLETREE COMMERCIAL TRUST
AJBU KEPPEL DC REIT
BUOU FRASERS LOGISTICS & COMMERCIAL TRUST
00027 GALAXY ENTERTAINMENT GROUP LIMITED
TMB TMB BANK PUBLIC COMPANY LIMITED
KBANK KASIKORNBANK PUBLIC CO. LTD.
C61U CAPITALAND COMMERCIAL TRUST
BH BUMRUNGRAD HOSPITAL PUBLIC CO. LTD.
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
599A SANDS CHINA LTD.
BCH BANGKOK CHAIN HOSPITAL PCL
Q5T FAR EAST HOSPITALITY TRUST
MIKA MITRA KELUARGA KARYASEHAT
SATS SP SATS LTD.
G13 GENTING SINGAPORE LIMITED
CDREIT CDL HOSPITALITY TRUSTS
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
PREIT PARKWAYLIFE REAL ESTATE
KPJ KPJ HEALTHCARE BERHAD
MINT MAPLETREE INDUSTRIAL TRUST
RFMD RAFFLES MEDICAL GROUP LTD
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
TXG 10X GENOMICS INC CLASS A
DBB DUOPHARMA BIOTECH BHD
TGIF 1933 INDUSTRIES
ELITE ELITE COMMERCIAL REIT
UHU UNITED HAMPSHIRE US REIT
MPM MARCO POLO MARINE LTD
CSSC CHINA SUNSINE CHEMICAL HOLDINGS LTD
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
OXMU PRIME US REIT
HMN ASCOTT RESIDENCE TRUST
CLCT CAPITALAND CHINA TRUST
KORE KEPPEL PACIFIC OAK US REIT
AMOKD 3DX INDUSTRIES INC
CVL CIVMEC
TSVT 2SEVENTY BIO INC
SCB SCB X PUBLIC COMPANY LIMITED
BCOW 1895 BANCORP OF WISCONSIN INC
CLAR CAPITALAND ASCENDAS REIT
AL2SI 2CRSI SA
DCRU DIGITAL CORE REIT MANAGEMENT PTE. LTD.
STM SEATRIUM LTD
Z29 029 GROUP SE
0303 ALPHA IVF GROUP

Bangkok Bank Public Company Limited: Update to credit analysis

Our credit view of this issuer reflects its conservative risk management and sizable overseas exposure, which will help offset the macroeconomic challenges in Thailand.

Bangkok Bank Public Company Limited: Key facts and statistics - Q3 Sep...

A summary company profile, detailing Bangkok Bank Public Company Limited’s business operations and financial highlights.

Arsit Pamaranont ... (+15)
  • Arsit Pamaranont
  • Chong Lee Len
  • Colin Lee
  • Jack Goh Tooan Orng
  • Jack Lai Yuan Khai
  • Johnny Yum Chung Man
  • Jonathan Koh
  • Julia Pan Mengyao
  • Kenny Yong Hui Lim
  • Ming San Soong
  • Shirley Wang Xueyi
  • Stella Guo Yuting
  • Stevanus Juanda
  • Tanaporn Visaruthaphong
  • Thanawat Thangchadakorn

Regional Morning Meeting Notes: Thursday, October 24, 2024

GREATER CHINA Results Hong Kong Exchanges and Clearing (388 HK/BUY/HK$314.80/Target: HK$364.00) 3Q24: Risk-and-reward is more balanced. Upgrade to BUY. Han’s Laser (002008 CH/HOLD/Rmb24.42/Target: Rmb22.70) 3Q24: Net profit misses, but visibility of recovery improving. Downgrade to HOLD. New Oriental Education & Technology Group (EDU US/BUY/US$62.15/Target: US$85.00) 1QFY25: In line; moderated growth outlook in 2QFY25 on low seasonality. Update Xtep International Holdings (...

Thanawat Thangchadakorn
  • Thanawat Thangchadakorn

Bangkok Bank (BBL TB) - 3Q24: Results Beat Expectations; Policy Rate C...

BBL reported 3Q24 earnings of Bt12.5b (+10% yoy, +6% qoq). The results exceeded our forecasts and consensus estimates by 11% and 9% respectively. Non-II was the key boost to net profit in 3Q24, mainly from investment gains. Credit costs improved qoq. NPL ratio continued to rise qoq. The surprise policy rate cut pressured both NIM and bottom line. We revise our forecasts to incorporate the impact of the rate cute. Due to a lack of catalysts in the near term, we downgrade BBL to HOLD with a lower ...

Kampon Akaravarinchai ... (+3)
  • Kampon Akaravarinchai
  • Kasemsun Koonnara
  • Thanawat Thangchadakorn

Thailand Daily - Friday, October 18, 2024

KEY HIGHLIGHTS Initiate Coverage Plan B Media (PLANB TB/HOLD/Bt7.90/Target: Bt9.00) Positive yoy and qoq earnings growth in 2H24; no new catalyst in 2025. Results Bangkok Bank (BBL TB/HOLD/Bt156.00/Target: Bt178.00) 3Q24: Results beat expectations; policy rate cut pressures NIM and net profit. Downgrade to HOLD. Update Supalai (SPALI TB/HOLD/Bt20.70/Target: Bt20.30) Expect 3Q24 earnings to increase yoy and qoq.

Anas Fitri Bin Ahmad ... (+14)
  • Anas Fitri Bin Ahmad
  • Bella Lu Yifei
  • Carol Dou Xiao Qin
  • Heidi Mo Jinghui
  • Johnny Yum Chung Man
  • Kampon Akaravarinchai
  • Kasemsun Koonnara
  • Keith Wee Teck Keong
  • Ken Lee
  • Llelleythan Tan Tan
  • Malaysia Research Team
  • Posmarito Pakpahan
  • Sunny Chen
  • Thanawat Thangchadakorn

Regional Morning Notes - Friday, October 18, 2024

GREATER CHINA Sector Automobile: Weekly: PV sales rebound as the impact of holiday diminishes; 3Q24 results preview. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL, Minth, Tuopu and Desay SV. IT Hardware: AI investment remains robust, non-AI recovery sluggish but starting to see positive signals. Maintain OVERWEIGHT. Update CSPC Innovation Pharmaceutical Co (300765 CH/BUY/Rmb29.28/Target: Rmb37.00): Proposes acquisition of CSPC Baike for Rmb7.6b. INDONESIA Update Bank Neo Commerce (BBYB IJ/BUY/R...

Adrian Loh Tzum Yung ... (+10)
  • Adrian Loh Tzum Yung
  • Damon Shen
  • Desmond Chong Chee Wai
  • Jack Lai Yuan Khai
  • Jieqi Liu
  • Kenny Yong Hui Lim
  • Philip Wong
  • Stevanus Juanda
  • Tham Mun Hon
  • Thanawat Thangchadakorn

Regional Morning Meeting Notes: Wednesday, September 25, 2024

GREATER CHINA Strategy PBOC Turns On The Tap The PBOC announced a series of easing measures on Tuesday. INDONESIA Update Astra International (ASII IJ/BUY/Rp5,275/Target: Rp5,800) About 70% of car and motorcycle sales to benefit from rate cut. Upgrade to BUY. MALAYSIA Results MyNews Holdings (MNHB MK/SELL/RM0.60/Target: RM0.52) 3QFY24: Results improved sequentially but disappointed consensus expectations. Valuations...

Anas Fitri Bin Ahmad ... (+8)
  • Anas Fitri Bin Ahmad
  • Chong Lee Len
  • Damon Shen
  • Heidi Mo Jinghui
  • Jieqi Liu
  • Llelleythan Tan Tan
  • Paula Ruth
  • Thanawat Thangchadakorn

Regional Morning Meeting Notes: Thursday, September 12, 2024

GREATER CHINA Sector Hong Kong Property Results wrap-up for Hong Kong developers: Navigating the cycle. INDONESIA Update XL Axiata (EXCL IJ/BUY/Rp2,270/Target: Rp2,900) Fixed broadband ARPU might increase by 10% post-acquisition of ServeCo. MALAYSIA Sector Utilities A strong 2Q24 with companies coming in broadly within expe...

Adrian Loh Tzum Yung ... (+20)
  • Adrian Loh Tzum Yung
  • Bella Lu Yifei
  • Benjaphol Suthwanish
  • Carol Dou Xiao Qin
  • Damon Shen
  • Jack Goh Tooan Orng
  • Jieqi Liu
  • Jonathan Koh
  • Ken Lee
  • Kenny Yong Hui Lim
  • Kitpon Praipaisarnkit
  • Kong Ho Meng
  • Posmarito Pakpahan
  • Ringo Tang Chi Yu
  • Roy Chen Chengzhi
  • Singapore Research Team
  • Sunny Chen
  • Tanaporn Visaruthaphong
  • Thailand Research Team
  • Ziv Ang Sze Champ

Regional Morning Meeting Notes: Monday, August 26, 2024

GREATER CHINA Results Aier Eye Hospital Group (300015 CH/BUY/Rmb9.96/Target: Rmb12.50) 1H24: Results lower than expected; striving for growth amid weak economic conditions. ENN Energy Holdings (2688 HK/HOLD/HK$53.50/Target: HK$58.40) 1H24: Below expectations; earnings dragged by sluggish new installation and absence of LNG trading gain. Hysan Development (14 HK/BUY/HK$11.36/Target: HK$15.41) 1H24 Interim results remains stable yoy; retail portfolio being ...

Loading...
New interest

Save your current filters as a new Interest

Please enter a name for this interest

Email alerts

Would you like to receive real-time email alerts when a new report is published under this interest?

Save This Search

These search results will show up under 'Saved searches' in the left panel

Please enter a name for this saved search

ResearchPool Subscriptions

Get the most out of your insights

Get in touch