reports
Thai Union Group Public Company Limited: 1 director
A director at Thai Union Group Public Company Limited sold 2,000,000 shares at 13.800THB 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 directors over...
- Kampon Akaravarinchai
Thai Union Group (TU TB) - 3Q24: Earnings In Line With Our And Market...
TU report 3Q24 core profit of Bt1,511m, flat yoy and qoq, and in line with our and market expectations. The better EBT was offset by higher tax expenses after the divestment of Red Lobster. We expect a slight qoq increase in 4Q24 earnings. We are still cautious on the potential overhang of the Red Lobster lawsuit case. Maintain BUY. Target price: Bt18.00.
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Tanaporn Visaruthaphong
- Thailand Research Team
Thailand Daily - Thursday, November 07, 2024
KEY HIGHLIGHTS Strategy Impact from Trump’s Policies Foresee a robust outlook for the industrial estate and electronics sectors due to the US-China trade war. Our top picks are AMATA, BANPU, DELTA, STGT and WHA. Results PTT Global Chemical (PTTGC TB/HOLD/Bt26.25/Target: Bt24.50) 3Q24: Net loss of Bt19.3b due to huge impairment loss. Quality Houses (QH TB/HOLD/Bt1.85/Target: Bt1.82) 3Q24: In l...
- Kampon Akaravarinchai
Thai Union Group (TU TB) - Effective Long-term Strategies To Improve M...
We are positive on TU’s new culinary plant which would allow the company to offer a wider range of products and improve its manufacturing standard. This aligns with TU’s plan to focus more on high-margin and value-added products. However, the value-added business remains a relatively small contributor to TU’s operations in the short term. Maintain BUY. Target price: Bt18.00.
- Kampon Akaravarinchai
- Thanawat Thangchadakorn
Thailand Daily - Monday, October 21, 2024
KEY HIGHLIGHTS Results Kiatnakin Phatra Bank (KKP TB/HOLD/Bt52.50/Target: Bt54.00) 3Q24: Results a huge positive surprise; a large reduction in credit cost. Krungthai Card (KTC TB/BUY/Bt48.50/Target: Bt60.00) 3Q24: Results in line; credit cost and NPL ratio down qoq. TMBThanachart Bank (TTB TB/BUY/Bt1.83/Target: Bt2.16) 3Q24: Results in line; lower credit cost qoq. Upgrade to BUY. Update Thai Union Group (TU TB/BUY/Bt14.80/Targ...
- Bella Lu Yifei
- Benyamin Mikael
- Desmond Chong Chee Wai
- Greater China Research Team
- Jonathan Koh
- Julia Pan Mengyao
- Kampon Akaravarinchai
- Ken Lee
- Malaysia Research Team
- Ming San Soong
- Tham Mun Hon
- Thanawat Thangchadakorn
- Vincent Khoo Boo Aik
Regional Morning Meeting Notes: Monday, October 21, 2024
GREATER CHINA Economics Economic Activity 3Q24 GDP growth slows to 4.6% yoy, but September shows stabilisation. Results Contemporary Amperex Technology (300750 CH/BUY/Rmb249.89/Target: Rmb350.00) 3Q24: Earnings in line. Maintain BUY. Target price: Rmb350.00. Fuyao Glass Industry Group (3606 HK/BUY/HK$56.60/Target: HK$68.00) 3Q24: Core earnings spike 53.5% yoy, in line with estimates. Maintain BUY. Target price: HK$68...
KTC KRUNGTHAI CARD PCL
KKP KIATNAKIN BANK
CTRA CIPUTRA DEVELOPMENT
1295 PUBLIC BANK BHD
AJBU KEPPEL DC REIT
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
TMB TMB BANK PUBLIC COMPANY LIMITED
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
MYEG MY EG SERVICES BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
RGB RGB INTERNATIONAL BHD
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
00020 SENSETIME GROUP INC
Z29 029 GROUP SE
IOIPG IOI PROPERTIES GROUP BHD
PEKAT PEKAT GROUP BHD
- Kampon Akaravarinchai
Thai Union Group (TU TB) - Unexciting 3Q24 Earnings Momentum
We expect TU to report 3Q24 core earnings of Bt1.5b, flat yoy and qoq. We foresee stable profitability qoq thanks to better gross margin, but it will be offset by higher SGA-to-sales. Looking forward, 4Q24 earnings are likely to come in flattish qoq and 2024 earnings could grow 13% yoy. We will keep monitoring the potential overhang from the Red Lobster lawsuit. Maintain BUY. Target price: Bt18.00.
- Kampon Akaravarinchai
- Kasemsun Koonnara
Thailand Daily - Friday, October 04, 2024
KEY HIGHLIGHTS Update Supalai (SPALI TB/HOLD/Bt20.30/Target: Bt20.30) One step closer to finalising acquisition in Australia; maintain earnings forecast. Downgrade to HOLD. Thai Union Group (TU TB/BUY/Bt14.90/Target: Bt18.00) Unexciting 3Q24 earnings momentum.
- Bella Lu Yifei
- Damon Shen
- Jieqi Liu
- Johnny Yum
- Jonathan Koh
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Ken Lee
- Philip Wong
- Roy Chen Chengzhi
- Stevanus Juanda
Regional Morning Notes - Friday, October 04, 2024
GREATER CHINA Sector Automobile: Weekly: Raise target prices across the board on lower discount rates. Maintain MARKET WEIGHT. Top BUYs: CATL, Geely, Desay SV, Tuopu and Minth. Shipping and Ports: Weakening global trade outlook; The US east coast port strike, though halted, remains a key event to watch out for. Maintain MARKET WEIGHT and downgrade CSH to HOLD. Update LINK REIT (823 HK/BUY/HK$39.15/Target: HK$45.08): Takeaways from pre-blackout calls: Welcoming the rate cut cycle. INDONESIA Stra...
- Anas Fitri Bin Ahmad
- Bella Lu Yifei
- Jonathan Koh
- Kampon Akaravarinchai
- Ken Lee
- Malaysia Research Team
- Posmarito Pakpahan
Regional Morning Meeting Notes: Thursday, September 26, 2024
GREATER CHINA Sector Automobile Weekly: PV sales down 4.8% yoy, missing estimates. Maintain MARKET WEIGHT. Top BUYs: CATL, Desay SV, and Geely. Top SELL: GAC. INDONESIA Update Bank Central Asia (BBCA IJ/BUY/Rp10,850/Target: Rp12,000) Strong loan growth continues; asset quality remains solid. MALAYSIA Update SD Guthrie (SDG MK/HOLD/RM4.88/Target: RM4.75) Plantatio...
300014 EVE ENERGY CO. LTD. CLASS A
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
FCT FRASERS CENTREPOINT TRUST
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
N2IU MAPLETREE COMMERCIAL TRUST
AJBU KEPPEL DC REIT
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
BUOU FRASERS LOGISTICS & COMMERCIAL TRUST
GFPT GFPT
BBCA PT BANK CENTRAL ASIA TBK
EGH EUREKA GROUP HOLDINGS
M3I MINTH GROUP LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
Q5T FAR EAST HOSPITALITY TRUST
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
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
CDREIT CDL HOSPITALITY TRUSTS
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
PREIT PARKWAYLIFE REAL ESTATE
MINT MAPLETREE INDUSTRIAL TRUST
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
MUST MANULIFE US REAL ESTATE INV
TXG 10X GENOMICS INC CLASS A
TGIF 1933 INDUSTRIES
1772 GANFENG LITHIUM CO. LTD. CLASS H
UHU UNITED HAMPSHIRE US REIT
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
ONEM 1LIFE HEALTHCARE
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
OXMU PRIME US REIT
HMN ASCOTT RESIDENCE TRUST
KORE KEPPEL PACIFIC OAK US REIT
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
CLAR CAPITALAND ASCENDAS REIT
ITC I-TAIL CORPORATION PUBLIC COMPANY LIMITED
DCRU DIGITAL CORE REIT MANAGEMENT PTE. LTD.
Z29 029 GROUP SE
02015 LI AUTO INC
BTG BETAGRO PUBLIC COMPANY LIMITED
600699 JOYSON ELECTRONICS CORP
SDG SD GUTHRIE BHD
- Greater China Research Team
- Johnny Yum
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
Regional Strategy: Alpha Picks - September 2022
GREATER CHINA Strategy Alpha Picks: September Conviction Calls: We expect an improving operating performance among selected companies in September, and add AIA, COLI, Desay SV, Galaxy Entertainment, Meituan, Ping An and TUL to our BUY list and add Li Auto as a SELL. INDONESIA Strategy Alpha Picks: Trailing The JCI’s Strong Performance In Aug 24: Our picks are ICBP, TOWR, BBNI, BMRI, BBRI, EXCL, CTRA, BBTN, CMRY, SIDO and JSMR. MALAYSIA Strategy Alpha Picks: Adapting To A Bipolar Market: Our Al...
TFG THAIFOODS GROUP
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
AS7 ANTA SPORTS PRODUCTS LTD.
300014 EVE ENERGY CO. LTD. CLASS A
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
KKP KIATNAKIN BANK
OU8 CENTURION
00016 SUN HUNG KAI PROPERTIES LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
ES ESSO SOCIETE ANONYME FRANCAISE
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
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
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
ESSO ESSO (THAILAND)
TTKOM TURK TELEKOMUNIKASYON A.S.
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.
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
00027 GALAXY ENTERTAINMENT GROUP LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
MAPI MITRA ADIPERKASA
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
BSDE PT BUMI SERPONG DAMAI TBK
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
601888 CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ACES PT ACE HARDWARE INDONESIA TBK
Q5T FAR EAST HOSPITALITY TRUST
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
ROTI NIPPON INDOSARI CORPINDO
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
SE SEA ADS
G13 GENTING SINGAPORE LIMITED
INRI INARI AMERTRON BHD
PTTEP-R PTT EXPLORATION & PRODUCTION PCL NVDR
SIE SIA ENGINEERING CO LTD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
BAL BUMITAMA AGRI LTD
SCGB SUNWAY CONSTRUCTION GROUP BH
KPJ KPJ HEALTHCARE BERHAD
SMM SEMBCORP MARINE LTD
MYEG MY EG SERVICES BHD
BURSA BURSA MALAYSIA BHD
MSGB MAH SING GROUP BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
IOI IOI CORP BHD
CPALL TB CP ALL
BAUTO BERMAZ AUTO BHD
GENM GENTING MALAYSIA BHD
MAHB MALAYSIA AIRPORTS HLDGS BHD
06098 COUNTRY GARDEN SERVICES HOLDINGS CO. LTD.
01801 INNOVENT BIOLOGICS INC.
2013 WEIMOB INC
EKO EKOVEST BHD
RGB RGB INTERNATIONAL BHD
SCB-R SIAM COMMERCIAL BANK PCL NVDR
709 GIORDANO INTERNATIONAL LTD
1093 CSPC PHARMACEUTICAL GROUP LTD
FRKN FRENCKEN GROUP LTD
MPM MARCO POLO MARINE LTD
MRDIY MR DIY GROUP M BHD
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
2696 SHANGHAI HENLIUS BIOTECH INC
HMN ASCOTT RESIDENCE TRUST
TIDLOR NGERN TID LOR PCL
OR PTT OIL AND RETAIL BUSINESS PUBLIC CO LIMITED
1209 CHINA RESOURCES MIXC LIFESTYLE SERVICES
BUKA BUKALAPAK.COM PT TBK
01024 KUAISHOU TECHNOLOGY CLASS B
06690 HAIER SMART HOME CO. LTD. CLASS H
09888 BAIDU INC
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA TBK PT
GOTO GOJEK TOKOPEDIA TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
02423 KE HOLDINGS INC.
ADOOY PT ADARO ENERGY TBK
SMGR SEMEN INDONESIA PERSERO TBK
NATGATE NATIONGATE HOLDINGS BHD
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
SUNWAY SUNWAY BHD
HUME ESSO THAILAND PCL
02015 HUME CEMENT INDUSTRIES BHD
09961 LI AUTO INC
BTG CTRIP.COM INTERNATIONAL
LAGENDA BETAGRO PUBLIC COMPANY LIMITED
KEX LAGENDA PROPERTIES BHD
CVL KERRY EXPRESS THAILAND PCL
CIVMEC LIMITED
- Arsit Pamaranont
- Bella Lu Yifei
- Benjaphol Suthwanish
- Jo Yee Ng
- Kampon Akaravarinchai
- Ken Lee
- Kong Ho Meng
- Paula Ruth
- Roy Chen Chengzhi
- Shirley Wang Xueyi
- Stella Guo Yuting
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
Regional Morning Notes - Friday, August 09, 2024
GREATER CHINA Sector Automobile: Weekly: PV sales rebound by 17% yoy on increased subsidies. Maintain MARKET WEIGHT. Top BUYs: CATL and Desay SV. Top SELL: XPeng. Shipping and Ports: Freight rates peaked but forward decline is priced in. Maintain MARKET WEIGHT and upgraded CSH to BUY. Results Jonjee Hi-Tech Industrial & Commercial (600872 CH/BUY/Rmb19.80/Target: Rmb27.00): 2Q24: Results miss expectations; condiment business under pressure. Kweichow Moutai (600519 CH/BUY/Rmb1,430.69/Target: Rmb2,...
- Greater China Research Team
- Johnny Yum
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
Regional Strategy: Alpha Picks - August 2024
GREATER CHINA Strategy Alpha Picks: August Conviction Calls: We expect stimulus to be announced in August and add COSCO Shipping Ports, Haier Smart Home, and KE Holdings to our BUY list and add SELL call on WuXi Bio, and XPeng. INDONESIA Strategy Alpha Picks: Underperformance in Jul 24: Our picks are BBNI, BMRI, BBRI, EXCL, CTRA, BBTN, CMRY, SIDO and JSMR. MALAYSIA Strategy Alpha Picks: Raising The M&A And Monetisation Bets: Our Alpha Picks marginally beat the KLCI. Jul 24 picks: Ekovest, Gamu...
TFG THAIFOODS GROUP
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
AS7 ANTA SPORTS PRODUCTS LTD.
300014 EVE ENERGY CO. LTD. CLASS A
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
KKP KIATNAKIN BANK
OU8 CENTURION
00016 SUN HUNG KAI PROPERTIES LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
ES ESSO SOCIETE ANONYME FRANCAISE
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
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
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
ESSO ESSO (THAILAND)
TTKOM TURK TELEKOMUNIKASYON A.S.
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.
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
00027 GALAXY ENTERTAINMENT GROUP LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
MAPI MITRA ADIPERKASA
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
BSDE PT BUMI SERPONG DAMAI TBK
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
601888 CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ACES PT ACE HARDWARE INDONESIA TBK
Q5T FAR EAST HOSPITALITY TRUST
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
ROTI NIPPON INDOSARI CORPINDO
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
SE SEA ADS
G13 GENTING SINGAPORE LIMITED
INRI INARI AMERTRON BHD
PTTEP-R PTT EXPLORATION & PRODUCTION PCL NVDR
SIE SIA ENGINEERING CO LTD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
BAL BUMITAMA AGRI LTD
SCGB SUNWAY CONSTRUCTION GROUP BH
KPJ KPJ HEALTHCARE BERHAD
SMM SEMBCORP MARINE LTD
MYEG MY EG SERVICES BHD
BURSA BURSA MALAYSIA BHD
MSGB MAH SING GROUP BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
IOI IOI CORP BHD
CPALL TB CP ALL
BAUTO BERMAZ AUTO BHD
GENM GENTING MALAYSIA BHD
MAHB MALAYSIA AIRPORTS HLDGS BHD
06098 COUNTRY GARDEN SERVICES HOLDINGS CO. LTD.
01801 INNOVENT BIOLOGICS INC.
2013 WEIMOB INC
EKO EKOVEST BHD
RGB RGB INTERNATIONAL BHD
SCB-R SIAM COMMERCIAL BANK PCL NVDR
709 GIORDANO INTERNATIONAL LTD
1093 CSPC PHARMACEUTICAL GROUP LTD
FRKN FRENCKEN GROUP LTD
MPM MARCO POLO MARINE LTD
MRDIY MR DIY GROUP M BHD
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
2696 SHANGHAI HENLIUS BIOTECH INC
HMN ASCOTT RESIDENCE TRUST
TIDLOR NGERN TID LOR PCL
OR PTT OIL AND RETAIL BUSINESS PUBLIC CO LIMITED
1209 CHINA RESOURCES MIXC LIFESTYLE SERVICES
BUKA BUKALAPAK.COM PT TBK
01024 KUAISHOU TECHNOLOGY CLASS B
06690 HAIER SMART HOME CO. LTD. CLASS H
09888 BAIDU INC
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA TBK PT
GOTO GOJEK TOKOPEDIA TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
02423 KE HOLDINGS INC.
ADOOY PT ADARO ENERGY TBK
SMGR SEMEN INDONESIA PERSERO TBK
NATGATE NATIONGATE HOLDINGS BHD
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
SUNWAY SUNWAY BHD
HUME ESSO THAILAND PCL
02015 HUME CEMENT INDUSTRIES BHD
09961 LI AUTO INC
BTG CTRIP.COM INTERNATIONAL
LAGENDA BETAGRO PUBLIC COMPANY LIMITED
KEX LAGENDA PROPERTIES BHD
CVL KERRY EXPRESS THAILAND PCL
CIVMEC LIMITED
- Adrian Loh Tzum Yung
- Bella Lu Yifei
- Chong Lee Len
- Desmond Chong Chee Wai
- Greater China Research Team
- Jack Goh Tooan Orng
- Jo Yee Ng
- Jonathan Koh
- Julia Pan Mengyao
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kate Luang
- Ken Lee
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Ming San Soong
- Philip Wong
- Posmarito Pakpahan
- Roy Chen Chengzhi
- Shirley Wang Xueyi
- Stella Guo Yuting
- Thailand Research Team
- Thanawat Thangchadakorn
- Wei Xiang Ku
Regional Morning Meeting Notes: Friday, August 02, 2024
GREATER CHINA Strategy Alpha Picks: August Conviction Calls We expect stimulus to be announced in August and add COSCO Shipping Ports, Haier Smart Home, and KE Holdings to our BUY list and add SELL call on WuXi Bio, and XPeng. Small-Mid Cap Monthly Reiterate BUY on Crystal amid share price pullback; eyes on interim dividend surprise. Sector Automobile ...
TFG THAIFOODS GROUP
600690 HAIER SMART HOME CO. LTD. CLASS A
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
300014 EVE ENERGY CO. LTD. CLASS A
IZZ TAL EDUCATION GROUP SPONSORED ADR CLASS A
TWOU 2U INC.
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
FCT FRASERS CENTREPOINT TRUST
ASM PACIFIC TECHNOLOGY LIMITED
U11 UNITED OVERSEAS BANK LTD. (SINGAPORE)
ERW ERAWAN GROUP
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
AJBU KEPPEL DC REIT
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
00027 GALAXY ENTERTAINMENT GROUP LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
C6L SINGAPORE AIRLINES LTD.
KBANK KASIKORNBANK PUBLIC CO. LTD.
M3I MINTH GROUP LIMITED
AW9U FIRST REAL ESTATE INVESTMENT TRUST
BN4 KEPPEL CORPORATION LIMITED
599A SANDS CHINA LTD.
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
CPN CENTRAL PATTANA PUBLIC CO. LTD.
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
00700 TENCENT HOLDINGS LTD.
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
CDREIT CDL HOSPITALITY TRUSTS
PENT PENTAMASTER CORP BHD
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
FEHT FAR EAST HOSPITALITY TRUST
MTC MUANGTHAI CAPITAL PCL
PREIT PARKWAYLIFE REAL ESTATE
MINT MAPLETREE INDUSTRIAL TRUST
FNH FRASER & NEAVE HOLDINGS BHD
CPALL TB CP ALL
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
RATCH RATCH GROUP PUBLIC CO. LTD.
MUST MANULIFE US REAL ESTATE INV
01801 INNOVENT BIOLOGICS INC.
OSP OSOTSPA PUBLIC CO. LTD.
TXG 10X GENOMICS INC CLASS A
TGIF 1933 INDUSTRIES
1772 GANFENG LITHIUM CO. LTD. CLASS H
UHU UNITED HAMPSHIRE US REIT
01876 BUDWEISER BREWING CO. APAC LTD.
1199 COSCO SHIPPING PORTS LIMITED
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
SCGP SCG PACKAGING PCL
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
2269 WUXI BIOLOGICS (CAYMAN) INC.
FLT FRASERS LOGISTICS & COMMERCIAL TRUST
KORE KEPPEL PACIFIC OAK US REIT
CTOS CTOS DIGITAL BHD
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
DCREIT DIGITAL CORE REIT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
123F 123FAHRSCHULE SE
02423 KE HOLDINGS INC.
BCOW 1895 BANCORP OF WISCONSIN INC
CLAS CAPITALAND ASCOTT TRUST
CLAR CAPITALAND ASCENDAS REIT
PRIME PRIME ROAD POWER PUBLIC CO LTD
2232 CRYSTAL INTERNATIONAL GROUP LTD
Z29 029 GROUP SE
02015 LI AUTO INC
09868 XPENG INC
09961 CTRIP.COM INTERNATIONAL
BTG BETAGRO PUBLIC COMPANY LIMITED
600699 JOYSON ELECTRONICS CORP
PEKAT PEKAT GROUP BHD
1523 PLOVER BAY TECHNOLOGIES LTD (1523 HK)
- Adrian Loh Tzum Yung
- Anas Fitri Bin Ahmad
- Carol Dou Xiao Qin
- Chong Lee Len
- Damon Shen
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
- Jieqi Liu
- Jonathan Koh
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Limartha Adhiputra
- Roy Chen Chengzhi
- Sunny Chen
- Tham Mun Hon
Regional Morning Meeting Notes: Tuesday, July 16, 2024
GREATER CHINA Economics Economic Activity 2Q24 growth below expectations. Strategy China And Hong Kong Property Sharper property price decline in 1H24 weighing on margins of Chinese developers; upcoming interest rate cut to support value of Hong Kong retail landlords. Update Kingmed Diagnostics (603882 CH/BUY/Rmb38.10/Target: Rmb35.00) 1H24 and 2024 results under pressu...
00016 SUN HUNG KAI PROPERTIES LIMITED
00823 LINK REAL ESTATE INVESTMENT TRUST
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
S63 SINGAPORE TECHNOLOGIES ENGINEERING LTD
01109 CHINA RESOURCES LAND LIMITED
SCNR SUNAC CHINA HOLDINGS LTD.
RLF LONGFOR GROUP HOLDINGS LTD.
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
00014 HYSAN DEVELOPMENT CO. LTD.
SMRA PT SUMMARECON AGUNG TBK
KBANK KASIKORNBANK PUBLIC CO. LTD.
5347 TENAGA NASIONAL BHD
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
MLK MALAKOFF CORP BHD
MTC MUANGTHAI CAPITAL PCL
CPALL TB CP ALL
GMB GAS MALAYSIA BHD
OSP OSOTSPA PUBLIC CO. LTD.
TXG 10X GENOMICS INC CLASS A
603882 GUANGZHOU KINGMED DIAGNOSTICS GROUP CO. LTD. CLASS A
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
SCGP SCG PACKAGING PCL
TIDLOR NGERN TID LOR PCL
00017 NEW WORLD DEVELOPMENT CO. LTD.
CK CH. KARNCHANG PUBLIC CO LTD
Z29 029 GROUP SE
BTG BETAGRO PUBLIC COMPANY LIMITED
PEKAT PEKAT GROUP BHD
- Kampon Akaravarinchai
Thai Union Group (TU TB) - Earnings Recovery Throughout 2024
We expect TU 2Q24’s core profit to decrease 3% yoy but improve 42.7% qoq. The 2Q24 earnings improvement was mainly on the back of a better top-line and gross margin. Although we have revised down our 2024-25 earnings forecasts by 17% and 10% following more conservative SGA-to-sales assumptions, we still expect continuous earnings improvement in 3Q24 on a qoq basis. Maintain BUY. Target price: Bt18.00.
- Kampon Akaravarinchai
- Desmond Chong Chee Wai
- Johnny Yum Chung Man
- Jonathan Koh
- Julia Pan Mengyao
- Kampon Akaravarinchai
- Kong Ho Meng
- Limartha Adhiputra
- Ming San Soong
Regional Morning Meeting Notes: Friday, July 5, 2024
GREATER CHINA Initiate Coverage BYD Electronic (285 HK/BUY/HK$37.35/Target: HK$47.70) Robust multi-year growth cycle driven by content gains and GenAI themes. Update Pinduoduo (PDD US/BUY/US$133.88/Target: US$200.00) Fostering overseas expansion to mitigate regulatory uncertainties. INDONESIA Update Jasa Marga (JSMR IJ/BUY/Rp5,250/Target: Rp7,300) Progress in JTT equity financing. MALAYSIA Sector Technology ...
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
00285 BYD ELECTRONIC (INTERNATIONAL) CO. LTD.
AJBU KEPPEL DC REIT
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
5243 VELESTO ENERGY
PDD PINDUODUO INC. SPONSORED ADR CLASS A
CDREIT CDL HOSPITALITY TRUSTS
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
FEHT FAR EAST HOSPITALITY TRUST
VSI V.S. INDUSTRY BERHAD
PREIT PARKWAYLIFE REAL ESTATE
MINT MAPLETREE INDUSTRIAL TRUST
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
SKP SKP RESOURCES BHD
MUST MANULIFE US REAL ESTATE INV
TXG 10X GENOMICS INC CLASS A
UHU UNITED HAMPSHIRE US REIT
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
FLT FRASERS LOGISTICS & COMMERCIAL TRUST
KORE KEPPEL PACIFIC OAK US REIT
570499Z ADITYA BIRLA SUN LIFE AMC
DCREIT DIGITAL CORE REIT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
CLAS CAPITALAND ASCOTT TRUST
CLAR CAPITALAND ASCENDAS REIT
NATGATE NATIONGATE HOLDINGS BHD
PRIME PRIME ROAD POWER PUBLIC CO LTD
CEB CAPE EMS BERHAD
Z29 029 GROUP SE
- Greater China Research Team
- Johnny Yum
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
Regional Strategy: Alpha Picks - July 2024
GREATER CHINA Strategy Alpha Picks: July Conviction Call: Adding ASMPT, Innovent, Poly Property Services, TAL Education and Trip.com to our BUY list; hedging with SELL call on BYD. INDONESIA Strategy Alpha Picks: Outperformance In Jun 24 And 2Q24: Our picks are BMRI, BBRI, EXCL, BSDE, TLKM, ACES, BBTN, CMRY, SIDO and JSMR. MALAYSIA Strategy Alpha Picks: Opting For More Adventurous Choices: Our Alpha Picks beat the KLCI again. Jul 24 picks: BURSA, Ekovest, Gamuda, Lagenda, Mah Sing, MYEG, Pekat...
TFG THAIFOODS GROUP
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
AS7 ANTA SPORTS PRODUCTS LTD.
300014 EVE ENERGY CO. LTD. CLASS A
IZZ TAL EDUCATION GROUP SPONSORED ADR CLASS A
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
KKP KIATNAKIN BANK
OU8 CENTURION
00016 SUN HUNG KAI PROPERTIES LIMITED
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
ES ESSO SOCIETE ANONYME FRANCAISE
ASM PACIFIC TECHNOLOGY LIMITED
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
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
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
ESSO ESSO (THAILAND)
TTKOM TURK TELEKOMUNIKASYON A.S.
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.
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
00027 GALAXY ENTERTAINMENT GROUP LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
MAPI MITRA ADIPERKASA
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
BSDE PT BUMI SERPONG DAMAI TBK
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
601888 CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ACES PT ACE HARDWARE INDONESIA TBK
Q5T FAR EAST HOSPITALITY TRUST
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
ROTI NIPPON INDOSARI CORPINDO
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
SE SEA ADS
G13 GENTING SINGAPORE LIMITED
INRI INARI AMERTRON BHD
PTTEP-R PTT EXPLORATION & PRODUCTION PCL NVDR
SIE SIA ENGINEERING CO LTD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
BAL BUMITAMA AGRI LTD
SCGB SUNWAY CONSTRUCTION GROUP BH
KPJ KPJ HEALTHCARE BERHAD
SMM SEMBCORP MARINE LTD
MYEG MY EG SERVICES BHD
BURSA BURSA MALAYSIA BHD
MSGB MAH SING GROUP BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
IOI IOI CORP BHD
CPALL TB CP ALL
BAUTO BERMAZ AUTO BHD
GENM GENTING MALAYSIA BHD
MAHB MALAYSIA AIRPORTS HLDGS BHD
06098 COUNTRY GARDEN SERVICES HOLDINGS CO. LTD.
01801 INNOVENT BIOLOGICS INC.
2013 WEIMOB INC
EKO EKOVEST BHD
RGB RGB INTERNATIONAL BHD
SCB-R SIAM COMMERCIAL BANK PCL NVDR
709 GIORDANO INTERNATIONAL LTD
1093 CSPC PHARMACEUTICAL GROUP LTD
FRKN FRENCKEN GROUP LTD
6049 POLY PROPERTY SERVICES CO LTD
MPM MARCO POLO MARINE LTD
MRDIY MR DIY GROUP M BHD
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
2696 SHANGHAI HENLIUS BIOTECH INC
HMN ASCOTT RESIDENCE TRUST
TIDLOR NGERN TID LOR PCL
OR PTT OIL AND RETAIL BUSINESS PUBLIC CO LIMITED
1209 CHINA RESOURCES MIXC LIFESTYLE SERVICES
BUKA BUKALAPAK.COM PT TBK
09888 BAIDU INC
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA TBK PT
GOTO GOJEK TOKOPEDIA TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
ADOOY PT ADARO ENERGY TBK
SMGR SEMEN INDONESIA PERSERO TBK
NATGATE NATIONGATE HOLDINGS BHD
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
SUNWAY SUNWAY BHD
HUME ESSO THAILAND PCL
02015 HUME CEMENT INDUSTRIES BHD
09961 LI AUTO INC
BTG CTRIP.COM INTERNATIONAL
LAGENDA BETAGRO PUBLIC COMPANY LIMITED
KEX LAGENDA PROPERTIES BHD
CVL KERRY EXPRESS THAILAND PCL
CIVMEC LIMITED
- Damon Shen
- Jieqi Liu
- Jo Yee Ng
- Jonathan Koh
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Limartha Adhiputra
- Malaysia Research Team
- Shirley Wang Xueyi
- Stella Guo Yuting
- Thailand Research Team
- Tham Mun Hon
- Vincent Khoo Boo Aik
Regional Morning Meeting Notes: Tuesday, July 02, 2024
GREATER CHINA Economics PMI Manufacturing PMI below 50% for a second month. Strategy China And Hong Kong Property Major SOE developers saw sales rebound in June; policy support for Hong Kong tourism weaker-than-expected. Sector Macau Gaming Jun 24 GGR down 12% mom, missing expectations. INDONESIA Results Vale In...
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
00016 SUN HUNG KAI PROPERTIES LIMITED
FCT FRASERS CENTREPOINT TRUST
00823 LINK REAL ESTATE INVESTMENT TRUST
01109 CHINA RESOURCES LAND LIMITED
SCNR SUNAC CHINA HOLDINGS LTD.
RLF LONGFOR GROUP HOLDINGS LTD.
AJBU KEPPEL DC REIT
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
00014 HYSAN DEVELOPMENT CO. LTD.
00027 GALAXY ENTERTAINMENT GROUP LIMITED
INCO VALE INDONESIA
599A SANDS CHINA LTD.
CPN CENTRAL PATTANA PUBLIC CO. LTD.
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
CDREIT CDL HOSPITALITY TRUSTS
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
FEHT FAR EAST HOSPITALITY TRUST
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
PREIT PARKWAYLIFE REAL ESTATE
MYEG MY EG SERVICES BHD
MINT MAPLETREE INDUSTRIAL TRUST
BURSA BURSA MALAYSIA BHD
MSGB MAH SING GROUP BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
CPALL TB CP ALL
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
RATCH RATCH GROUP PUBLIC CO. LTD.
MUST MANULIFE US REAL ESTATE INV
TXG 10X GENOMICS INC CLASS A
EKO EKOVEST BHD
RGB RGB INTERNATIONAL BHD
UHU UNITED HAMPSHIRE US REIT
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
SCGP SCG PACKAGING PCL
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
TIDLOR NGERN TID LOR PCL
FLT FRASERS LOGISTICS & COMMERCIAL TRUST
KORE KEPPEL PACIFIC OAK US REIT
00017 NEW WORLD DEVELOPMENT CO. LTD.
DCREIT DIGITAL CORE REIT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
123F 123FAHRSCHULE SE
CLAS CAPITALAND ASCOTT TRUST
CLAR CAPITALAND ASCENDAS REIT
PRIME PRIME ROAD POWER PUBLIC CO LTD
Z29 029 GROUP SE
BTG BETAGRO PUBLIC COMPANY LIMITED
LAGENDA LAGENDA PROPERTIES BHD
PEKAT PEKAT GROUP BHD
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