reports
Thaicom Plc: 1 director
A director at Thaicom Plc maiden bought 600,000 shares at 8.700THB and the significance rating of the trade was 76/100. 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 the last two years cl...
- Arsit Pamaranont
- Bella Lu Yifei
- Benjaphol Suthwanish
- Chong Lee Len
- Kampon Akaravarinchai
- Ken Lee
- Krit Tanarattananon
- Llelleythan Tan Tan
- Nurul Nazira Binti Abdullah
- Paula Ruth
- Philip Wong
Regional Morning Meeting Notes: Thursday, July 18, 2024
GREATER CHINA Sector Automobile Weekly: PEV sales down 4% yoy but up 8% wow during 8-14 July, in line. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL and Tuopu. Top SELL: XPeng. INDONESIA Update Telkom Indonesia (TLKM IJ/BUY/Rp3,250/Target: Rp4,200) 2024 fixed broadband revenue to see moderate growth of 8% yoy; maintain BUY. MALAYSIA Results Alpha IVF (ALPHA MK/BUY/RM0.32/Target: RM0.40) ...
ARAY ACCURAY
AOSL ALPHA & OMEGA SEMICONDUCTOR
III 3I GROUP PLC
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
ERW ERAWAN GROUP
INTUCH INTOUCH HOLDINGS PUBLIC COMPANY LIMITED
ALPHA ALPHA BANK AE
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
THCOM THAICOM
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
M3I MINTH GROUP LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
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
PTI TELEKOMUNIKASI INDONESIA TBK PT (ADR)
1211 BYD COMPANY LIMITED CLASS H
2338 WEICHAI POWER CO. LTD. CLASS H
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
1772 GANFENG LITHIUM CO. LTD. CLASS H
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
GULF GULF ENERGY DEVELOPMENT PUBLIC COMPANY LIMITED
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
BCOW 1895 BANCORP OF WISCONSIN INC
PREIT PAVILION REAL ESTATE INVESTMENT TRUST
Z29 029 GROUP SE
02015 LI AUTO INC
09868 XPENG INC
600699 NINGBO JOYSON ELECTRONIC CORP
- Waritthorn Kaewmuang
Thaicom (THCOM TB) - Undergoing A New Investment Cycle
We expect THCOM to see steady operations in 2023 without any significant jump in performance as the company is undergoing a new cycle of large investments, with Thaicom 9 under construction and two small satellites targeted for operation in 2025. Maintain HOLD. Target price: Bt11.40.
- Waritthorn Kaewmuang
- Damon Shen
- Greater China Research Team
- Jieqi Liu
- Philip Wong
- Roy Chen Chengzhi
- Stevanus Juanda
- Tham Mun Hon
- Waritthorn Kaewmuang
Regional Morning Notes - Monday, June 19, 2023
GREATER CHINA Strategy 2H23 – Time For A Booster?: We expect MSCI China’s valuation to normalise in 2H23, backed by additional policy support. Prefer exposure to automobiles, consumer, industrial automation and online gaming. Sector Property: CVI index falls below 40; HKSAR relaunches private SSFs. INDONESIA Update United Tractors (UNTR IJ/HOLD/Rp22,900/Target: Rp25,000): NIC investment slightly expensive, trading at -2SD PE; upgrade to HOLD. MALAYSIA Sector Healthcare: Maintain MARKET WEIGHT ...
- Chaiwat Arsirawichai
Thaicom (THCOM TB) - A Potential Auction Winner, But Already Priced In
The NBTC plans to hold an orbital slot auction in Jan 23. Six companies have picked up bidding documents. THCOM should be one of the potential winners. We maintain HOLD due to limited upside as THCOM’s share price has rallied by 30% in the last two months, and we believe its current share price has already priced in the positive news. Moreover, we expect the low acquisition price of THCOM (offered by GULF) to continue to pressure THCOM’s share price. Target price: Bt12.20.
- Chaiwat Arsirawichai
- Chaiwat Arsirawichai
- Greater China Research Team
- Jessie Guo Yuting
- John Cheong Ming Chern
- Keith Wee Teck Keong
- Ken Lee
- Kong Ho Meng
- Llelleythan Tan Tan
- Selvi Ocktaviani
- Tham Mun Hon
Regional Morning Notes - Tuesday, December 06, 2022
GREATER CHINA Strategy 2023 : Cross-currents: We are positive on 1H23; recommend overweighting reopening and reflationary beneficiaries. Update BYD Company (1211 HK/BUY/HK$196.00/Target: HK$440.00): November sales up 134% yoy and 6% mom to 230,427 units, in line with expectation. Maintain BUY. Target price: HK$440.00. INDONESIA Update Waskita Karya (WSKT IJ/HOLD/Rp410/Target: Rp430): Delaying rights issue plan, unattractive if offered at premium price. Downgrade to HOLD. MALAYSIA Sector Banki...
- Chaiwat Arsirawichai
Thaicom (THCOM TB) - 3Q22: Results Beat Consensus Estimate; Overhang O...
THCOM posted a net profit of Bt121m in 3Q22, beating consensus estimate. The results declined 17.1% qoq, on the back of higher SG&A expense and higher tax expense. GULF’s BoD approved plans to acquire THCOM from INTUCH. Although we expect THCOM’s share price to have downside risk as the acquisition price is below market price by 19%, we are positive on THCOM for the long term if it wins the new orbital slot auctions (Dec 22). Maintain HOLD. Target price: Bt12.20
- Arsit Pamaranont
- Chaiwat Arsirawichai
- Tanaporn Visaruthaphong
Thailand Daily - Wednesday, November 09, 2022
KEY HIGHLIGHTS Results AP Thailand (AP TB/BUY/Bt10.20/Target: Bt14.70) 3Q22: Results in line — Up 38% yoy but down 10% qoq. IRPC (IRPC TB/HOLD/Bt3.24/Target: Bt3.50) 3Q22: Weak results as expected PTT Oil & Retail Business (OR TB/BUY/Bt24.40/Target: Bt33.00) 3Q22: Results in line with our estimates but below consensus forecasts; outlook to improve in 4Q22. Supalai (SPALI TB/BUY/Bt21.70/Target: Bt28.20) 3Q22: Outstanding performance — Up 60% yoy and 33% qoq. Thaicom (THCOM TB/HOLD/Bt11.60/Ta...
- Chaiwat Arsirawichai
Thaicom (THCOM TB) - NBTC Plans To Hold Orbital Slot Auction In Dec 22
NBTC plans to hold a new round of orbital slot auctions for Thailand in Dec 22 after it cancelled the previous auction last year. In terms of earnings outlook, THCOM’s 2H22 core earnings should be flat vs that in 1H22. Downgrade to HOLD with the same target price of Bt12.20 due to limited upside after THCOM’s share price rallied 30% in the last two months. We believe the current share price has priced in most of the positive news.
- Chaiwat Arsirawichai
- Adrian Loh Tzum Yung
- Chaiwat Arsirawichai
- Chong Lee Len
- Posmarito Pakpahan
Regional Morning Notes - Monday, September 12, 2022
INDONESIA Update AKR Corporindo (AKRA IJ/BUY/Rp1,200/Target: Rp1,385): Continues to benefit from high commodities prices. MALAYSIA Sector Telecommunications: 2Q22: Fixed-line operators outperformed wireless players. Top picks are TIME and Digi. SINGAPORE Update Keppel Corp (KEP SP/BUY/S$7.40/Target: S$10.11): Significant number of acquisitions in 2022 positions the company for the future. THAILAND Update Thaicom (THCOM TB/HOLD/Bt11.30/Target: Bt12.20): NBTC plans to hold an orbital slot aucti...
- Chaiwat Arsirawichai
Thaicom (THCOM TB) - 2Q22: Posted Stronger qoq And yoy Growth In Net P...
THCOM posted a stronger qoq and yoy growth in net profit mainly due to the huge forex gain and higher service revenue from the satellite business. We expect THCOM’s 3Q22 earnings to remain flat qoq on the back of the continued recognised revenue from Thaicom 4 and 6 and good cost management. The key potential upside remains on the new round of bidding for orbital slots expected in Dec 22. Maintain BUY. Target price: Bt12.20.
- Carol Dou Xiao Qin
- Jacquelyn Yow Hui Li
- Jo Yee Ng
- Jonathan Koh
- Leow Huey Chuen
- Llelleythan Tan Tan
- Sunny Chen
- Tham Mun Hon
- Zhifeng Shen
Regional Morning Notes - Monday, August 08, 2022
REGIONAL Sector Plantation: India’s palm oil demand is expected to pick up in upcoming months with the current soft CPO prices and festive seasons approaching. GREATER CHINA Economics Trade: Weaker July imports growth points to recovery challenges. Sector Consumer: Maintain CTGDF as top pick despite near-term bumps. Update Innovent Biologics Inc (1801 HK/BUY/HK$35.80/Target: HK$45.00): Sanofi partnership fuels oncology R&D development, aims for a stronger 2H22. INDONESIA Update Bumi Serpong Da...
- Chaiwat Arsirawichai
Thaicom (THCOM TB) - Positive News Coming
The new NBTC plans to open a new round of orbital slot auction for Thailand in Aug 22 after it cancelled the previous auction last year. We think this should be positive for THCOM as it is a new revenue stream in the future. Moreover, we expect to see positive core earnings momentum in the next couple of quarters, and positive developments in its new business opportunities. Maintain BUY. Target price: Bt12.20.
- Chaiwat Arsirawichai
- Chaiwat Arsirawichai
- Chong Lee Len
- Chun Sung Oong
- Jacquelyn Yow Hui Li
- John Cheong Ming Chern
- Julia Pan Mengyao
- Kong Ho Meng
- Leow Huey Chuen
Regional Morning Notes - Wednesday, June 15, 2022
GREATER CHINA Sector Internet: Accommodative policy to support near-term valuation recovery. INDONESIA Update Plantation: Earnings to experience a setback from policies and expected downtrend in CPO prices; downgrade to UNDERWEIGHT. MALAYSIA Update Petronas Dagangan (PETD MK/HOLD/RM20.52/Target: RM20.50): Uncertain jet fuel outlook dampened its reopening play prospects. This is balanced by improving cash flow management on parental support and subsidy rationalisation plans. Tenaga Nasional (TN...
- Chaiwat Arsirawichai
- Clement Ho Jia Xing
- Jacquelyn Yow Hui Li
- Johnny Yum
- Jonathan Koh
- Leow Huey Chuen
- Malaysia Research Team
- Roy Chen Chengzhi
- Stevanus Juanda
- Tanaporn Visaruthaphong
- Vincent Khoo Boo Aik
Regional Morning Notes - Monday, May 09, 2022
INDONESIA Strategy Alpha Picks: Add BUKA, Drop TLKM And BBYB: Our picks: SIDO, BMRI, BBNI, BUKA, KLBF, ACES and MAPI. Results Matahari Department Store (LPPF IJ/BUY/RpRp5,800/Target: Rp7,000): 1Q22: On track to deliver potential 35.3% yoy growth in 2022 NPAT. Triputra Agro Persada (TAPG IJ/BUY/Rp670 /Target: Rp1,000): 1Q22: Results above our and consensus expectations, lifted by strong production growth. Update Astra Agro Lestari (AALI IJ/SELL/Rp12,500 /Target: Rp11,350): Downgrade to SELL with ...
- Chaiwat Arsirawichai
Thaicom (THCOM TB) 1Q22 - Posts Net And Core Profits, Reversing From L...
THCOM posted a net profit of Bt51m in 1Q22, reversing from a net loss in 4Q21. The qoq improvement in core profit was mainly due to better earnings from its satellite business and lower losses from Lao Telecom (LTC). We expect to see: a) positive earnings momentum; b) positive developments in its new business opportunities; and c) NBTC opening the new auction of the satellite orbital slots, which would serve as a catalyst. Maintain BUY. Target price: Bt12.20.
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