reports
- Benjaphol Suthwanish
- Greater China Research Team
- Guan An Tan
- Johnny Yum
- Jonathan Koh
- Keith Wee Teck Keong
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Philip Wong
- Roy Chen Chengzhi
- Thailand Research Team
Regional Morning Meeting Notes: Tuesday, May 06, 2025
GREATER CHINA Strategy Alpha Picks: May Conviction Calls Add Alibaba, Innovent, Shuanghuan, Trip.com to our BUY list. Take profit on JBM Healthcare and CR Land. Sector Aviation Airlines: 1Q25 results below expectations. Weak fuel prices to support full-year performance. Maintain UNDERWEIGHT. INDONESIA Strategy 1Q25 Results Recap ...
BJC BERLI JUCKER PUBLIC CO. LTD.
A0M4P7 HAN'S LASER TECHNOLOGY INDUSTRY GROUP CO. LTD. CLASS A
00016 SUN HUNG KAI PROPERTIES LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
1023 CIMB GROUP HOLDINGS BHD
ERW ERAWAN GROUP
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
PTTEP PTT EXPLORATION & PRODUCTION PLC
002472 ZHEJIANG SHUANGHUAN DRIVELINE (A)
CPN CENTRAL PATTANA PUBLIC CO. LTD.
BCH BANGKOK CHAIN HOSPITAL PCL
AD2 AIR CHINA LIMITED CLASS H
1055 CHINA SOUTHERN AIRLINES COMPANY LIMITED CLASS H
0670 CHINA EASTERN AIRLINES CORPORATION LIMITED CLASS H
01810 XIAOMI CORP. CLASS B
MTC MUANGTHAI CAPITAL PCL
RATCH RATCH GROUP PUBLIC CO. LTD.
01801 INNOVENT BIOLOGICS INC.
MRDIY MR DIY GROUP M BHD
09988 ALIBABA GROUP HOLDING LTD.
TIDLOR NGERN TID LOR PCL
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
02618 JD LOGISTICS INC
MXNU ELITE COMMERCIAL REIT MGNT PTE LTD
09961 CTRIP.COM INTERNATIONAL
BTG BETAGRO PUBLIC COMPANY LIMITED
- Jo Yee Ng
- Julia Pan Mengyao
- Keith Wee Teck Keong
- Kitpon Praipaisarnkit
- Ming San Soong
- Paula Ruth
- Roy Chen Chengzhi
- Tanaporn Visaruthaphong
- Thailand Research Team
Regional Morning Meeting Notes: Wednesday, April 09, 2025
GREATER CHINA Sector Internet Navigating headwinds and uncovering opportunities upon tariff pressures. INDONESIA Update Erajaya Swasembada (ERAA IJ/BUY/Rp348/Target: Rp480) Iphone 16 series to be available in 2Q25. Maintain BUY. MALAYSIA Update Matrix Concepts Holdings (MCH MK/BUY/RM1.27/Target: RM1.66) We view the RPT deal as fair and strategic as the acquisition allows Matrix to see faster ro...
IZZ TAL EDUCATION GROUP SPONSORED ADR CLASS A
N1U NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC. SPONSORED ADR
1295 PUBLIC BANK BHD
3K1 KINGSOFT CORP. LTD.
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
ERAA ERAJAYA SWASEMBADA
BCH BANGKOK CHAIN HOSPITAL PCL
00700 TENCENT HOLDINGS LTD.
SATS SP SATS LTD.
PDD PINDUODUO INC. SPONSORED ADR CLASS A
03690 MEITUAN CLASS B
RATCH RATCH GROUP PUBLIC CO. LTD.
00780 TONGCHENG-ELONG HOLDINGS LIMITED
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
09618 JD.COM INC. CLASS A
TIDLOR NGERN TID LOR PCL
MCH MATRIX CONCEPTS HOLDINGS BHD
09888 BAIDU INC
1024 BEIJING KUAISHOU TECHNOLOGY CO LTD
09961 CTRIP.COM INTERNATIONAL
- Kitpon Praipaisarnkit
Advanced Info Service (ADVANC TB) - Expect Strong 1Q25 Earnings On Rev...
ADVANC's 1Q25 net profit is projected to rise 14% yoy and 4% qoq to Bt9.76b, mainly on the back of revenue improvement and cost reduction. We estimate 1Q25 revenue at Bt55.4b (+4% yoy, -2% qoq), supported by the mobile and FBB businesses. EBITDA margin should be strong due to the high base of SG&A in 4Q24 brought about by increased performance-based staff costs, the impact of TTTBB consolidation, and provisions for obsolete assets. Maintain BUY with a higher target price of Bt330.00.
- Kitpon Praipaisarnkit
- Thailand Research Team
Thailand Daily- Wednesday, April 02, 2025
KEY HIGHLIGHTS Strategy Alpha Picks: Selective Buy On Individual Stocks We maintain our cautiously optimistic view on the Thai equities market in Apr 25. We decide to take profit on TFG and cut losses on CPALL and MAJOR. We also add ADVANC, BJC, and PTTEP. Update Advanced Info Service (ADVANC TB/BUY/Bt281.00/Target: Bt330.00) Expect strong 1Q25 earnings on revenue improvement and cost reduction.
- Ejann Hiew
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
- Jonathan Koh
- Kitpon Praipaisarnkit
- Kong Ho Meng
- Krit Tanarattananon
- Shirley Wang Xueyi
- Stella Guo Yuting
- Thailand Research Team
Regional Morning Notes - Wednesday, April 02, 2025
GREATER CHINA Sector Macau Gaming: Mar 25 GGR slightly above expectations. MALAYSIA Results Yinson Holdings (YNS MK/BUY/RM2.20/Target: RM3.15): FY25: FPSO income misses expectations against the lower income base as per its inaugural Enterprise Reporting, and higher-than-expected financing costs. Update IJM Corporation (IJM MK/BUY/RM2.10/Target: RM3.00): Prospects remain resilient with a robust pipeline of infrastructure and industrial contract flows. Maintain BUY and target price of RM3.00. SI...
- Kitpon Praipaisarnkit
Advanced Info Service (ADVANC TB) - 4Q24: Results In Line With Our For...
ADVANC’s 4Q24 net profit of Bt9.3b is in line with our forecast but exceeds consensus by 5%. Net profit grew strongly (+32% yoy, +5% qoq), driven by higher revenue, improved gross margin and a lower SG&A-to-sales. The ARPU trend continued to rise qoq due to seasonal effects. 2024 full-year earnings totalled Bt35.0b (+32% yoy). We expect ADVANC’s earnings growth to continue in 2025. Maintain BUY with a target price of Bt330.00.
- Benjaphol Suthwanish
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
Thailand Daily - Monday, February 10, 2025
KEY HIGHLIGHTS Results Advanced Info Service (ADVANC TB/BUY/Bt280.00/Target: Bt330.00) 4Q24: Results in line with our forecast but above consensus. Ngern Tid Lor (TIDLOR TB/BUY/Bt17.40/Target: Bt22.00) 4Q24: Results in line; impressive recovery momentum. SVI (SVI TB/BUY/Bt6.90/Target: Bt8.00) 4Q24: Earnings improve qoq and yoy, above expectations. Update Banpu (BANPU TB/HOLD/Bt4.74/Target: Bt5.00...
- Benjaphol Suthwanish
- Carol Dou Xiao Qin
- Claire Wang Kelai
- Jonathan Koh
- Kitpon Praipaisarnkit
- Kong Ho Meng
- Posmarito Pakpahan
- Sunny Chen
- Tanaporn Visaruthaphong
- Tham Mun Hon
- Thanawat Thangchadakorn
Regional Morning Notes - Monday, February 10
GREATER CHINA Economics Inflation Seasonal demand lifted downstream inflation. Update Innovent Biologics (1801 HK/BUY/HK$36.25/Target: HK$52.00) Expects significant expansion in 2025; targeting revenue of Rmb20b in 2027. INDONESIA Results Bank Syariah Indonesia (BRIS IJ/BUY/Rp3,020/Target: Rp3,450) 2024: Net profit up 22%, above expectations; upgrade earnings forecasts. MALAYSIA...
5681 PETRONAS DAGANGAN BHD.
5218 SAPURA ENERGY BHD
BUOU FRASERS LOGISTICS & COMMERCIAL TRUST
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
3816 MISC BHD
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
5243 VELESTO ENERGY
UZMA UZMA BHD
YNS YINSON HOLDINGS BHD
BAB BUMI ARMADA BERHAD
DLG DIALOG GROUP BHD
DLUM DELEUM BERHAD
01801 INNOVENT BIOLOGICS INC.
TIDLOR NGERN TID LOR PCL
BRIS BANK BRISYARIAH TBK
CLAR CAPITALAND ASCENDAS REIT
- Kitpon Praipaisarnkit
Advanced Info Service (ADVANC TB) - Still Anticipate Impressive Result...
ADVANC's core profit for 4Q24 is projected to rise 26% yoy and 5% qoq to Bt8.9b, in line with revenue and gross margin trends. Yoy revenue growth should be supported by the FBB, enterprise, and mobile businesses and qoq revenue growth should be driven by the handset subsidy business. EBITDA margin should also grow continuously yoy and qoq. We fine-tune 2024-25 earnings. Maintain BUY with a higher target price of Bt330.00.
- Benjaphol Suthwanish
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
- Benjaphol Suthwanish
- Desmond Chong Chee Wai
- Johnny Yum
- Jonathan Koh
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Roy Chen Chengzhi
- Stevanus Juanda
- Tanaporn Visaruthaphong
- Vincent Khoo Boo Aik
Regional Morning Notes - Monday, January 06, 2025
GREATER CHINA Sector Shipping And Ports: Expect 2025 to be a volatile year, with several geopolitical and industrial events posing key uncertainties. Maintain MARKET WEIGHT. BUY CSP, CMP and OOIL. INDONESIA Strategy 2024 JCI Return Analysis: Our top picks are ASII, BMRI, BBNI, BRIS, CMRY, KLBF, SMRA, ACES and GOTO. We have an end-25 target of 8,200 for the JCI. MALAYSIA Strategy 1H25 Strategy: The FBMKLCI should again deliver energising returns in 2025, charged up mainly by domestic liquidity ...
- Bella Lu Yifei
- Chong Lee Len
- Desmond Chong Chee Wai
- Greater China Research Team
- Jo Yee Ng
- Johnny Yum
- Jonathan Koh
- Ken Lee
- Kenny Yong Hui Lim
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Paula Ruth
- Posmarito Pakpahan
- Roy Chen Chengzhi
- Shirley Wang Xueyi
- Stella Guo Yuting
- Stevanus Juanda
- Vincent Khoo Boo Aik
- Wei Xiang Ku
Regional Morning Meeting Notes: Monday, November 04, 2024
GREATER CHINA Strategy Alpha Picks: November Conviction Calls Add Hansoh Pharma, Sands China, CSCEC and BYDE to our BUY list. Add Sinopharm to our SELL list. Sector Aviation – China Airlines: 3Q24 earnings a slight miss; expect losses in seasonally weak 4Q24. Maintain UNDERWEIGHT. Macau Gaming Oct 24 GGR up 7% yoy and...
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
CTRA CIPUTRA DEVELOPMENT
BBRI PT BANK RAKYAT INDONESIA (PERSERO) TBK CLASS B
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
00285 BYD ELECTRONIC (INTERNATIONAL) CO. LTD.
KLBF PT KALBE FARMA TBK
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
00027 GALAXY ENTERTAINMENT GROUP LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
7113 TOP GLOVE CORPORATION BHD.
601668 CHINA STATE CONSTRUCTION ENGINEERING CORP. LTD. CLASS A
X2S SINOPHARM GROUP CO. LTD. CLASS H
5162 VSTECS
599A SANDS CHINA LTD.
ASII PT ASTRA INTERNATIONAL TBK
Q5T FAR EAST HOSPITALITY TRUST
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
AD2 AIR CHINA LIMITED CLASS H
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
1055 CHINA SOUTHERN AIRLINES COMPANY LIMITED CLASS H
0670 CHINA EASTERN AIRLINES CORPORATION LIMITED CLASS H
AXIATA AXIATA GROUP BERHAD
MAXIS MAXIS BHD
YNS YINSON HOLDINGS BHD
RHBBANK RHB BANK BHD
T TELEKOM MALAYSIA BHD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
MYEG MY EG SERVICES BHD
ECW ECO WORLD DEVELOPMENT GROUP
TXG 10X GENOMICS INC CLASS A
RGB RGB INTERNATIONAL BHD
TDC TIME DOTCOM BHD
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3692 HANSOH PHARMACEUTICAL GROUP
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
CDB CELCOMDIGI BHD
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
Z29 029 GROUP SE
02015 LI AUTO INC
LAGENDA LAGENDA PROPERTIES BHD
PEKAT PEKAT GROUP BHD
- Kitpon Praipaisarnkit
Advanced Info Service (ADVANC TB) - 3Q24: Results In Line; Expect Stro...
ADVANC's net profit for 3Q24 came in at Bt8.8b, in line with our and market forecasts. Net profit increased yoy due to higher revenue and margin growth. Meanwhile, earnings was flat qoq, impacted by higher SG&A-to-sales. For its operations, mobile ARPU increased yoy, but was flat qoq due to the seasonal impact. EBITDA margin was stronger yoy due to to higher core service revenue from TTTBB’s contribution. We maintain BUY with a target price of Bt310.00
- Kitpon Praipaisarnkit
- Kitpon Praipaisarnkit
Advanced Info Service (ADVANC TB) - Expect Earnings To Improve yoy But...
ADVANC's core profit for 3Q24 is projected to rise 5% yoy but remain flat qoq at Bt8.5b, in line with revenue and gross margin trends. Yoy revenue growth should be supported by the FBB, enterprise, and mobile businesses. However, revenue is expected to remain flat qoq due to seasonal factors affecting ARPU, including a decrease in tourist numbers and lower spending on prepaid packages. We are reinitiating coverage with a BUY recommendation and a new target price of Bt310.00.
- Benjaphol Suthwanish
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
Thailand Daily - Monday, October 07, 2024
KEY HIGHLIGHTS Update Advanced Info Service (ADVANC TB/BUY/Bt267.00/Target: Bt310.00) Expect earnings to improve yoy but decline slightly qoq due to seasonality. PTT Exploration & Production (PTTEP TB/BUY/Bt136.50/Target: Bt160.00) 3Q24 net profit expected to decline due to higher unit cost.
- Benjaphol Suthwanish
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Nurul Nazira Binti Abdullah
- Paula Ruth
- Tanaporn Visaruthaphong
- Vincent Khoo Boo Aik
- Ziv Ang Sze Champ
Regional Morning Meeting Notes: Monday, October 07, 2024
GREATER CHINA Sector Metals And Mining Gold: Rally takes a breather; downside cushioned by escalating geopolitical tensions. INDONESIA Update Sarana Menara Nusantara (TOWR IJ/HOLD/Rp850/Target: Rp930) 2Q24: Revenue from non-tower business jumps 30% yoy. Downgrade to HOLD. MALAYSIA Strategy Budget 2025 Preview: Building Sustainable Growth While Budget 2025 is seen as market-neutral, it is suppor...
1295 PUBLIC BANK BHD
TOWR PT SARANA MENARA NUSANTARA TBK
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
PTTEP PTT EXPLORATION & PRODUCTION PLC
2899 ZIJIN MINING GROUP CO. LTD. CLASS H
INRI INARI AMERTRON BHD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
MYEG MY EG SERVICES BHD
RGB RGB INTERNATIONAL BHD
CSSC CHINA SUNSINE CHEMICAL HOLDINGS LTD
TSVT 2SEVENTY BIO INC
123F 123FAHRSCHULE SE
IOIPG IOI PROPERTIES GROUP BHD
LAGENDA LAGENDA PROPERTIES BHD
PEKAT PEKAT GROUP BHD
1787 SHANDONG GOLD SMELTING CO LTD
- 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
- 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)
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