PLAT: Expect Accelerating Earnings in 4Q18
Despite a drop in 3Q18 earnings both YoY and QoQ, we expect strong recovery in 4Q18 earnings driven by opening The Market Bangkok (70% booked). We...
587 Views
QH: Dividend Play Outshines Thai Property Peers
We initiate coverage on Quality Houses (QH TB) with a BUY rating, based on a target price of Bt3.9 and derived from our target of 10.5xPE’1H19E,...
743 Views
PLAT: Mall Operator to Make Precious Metal from Sales and Rental Growth
We initiate coverage on PLAT with a BUY rating, based on a target price of Bt9.4 and derived from the DCF methodology (WACC 10.8% and terminal...
305 Views
GOLD: 39% Sales Growth Along with Margin Expansion
GOLD reported FY2Q18 net profit of Bt465m (+53%YoY, -25%QoQ). The FY1H18 result was 51% of our full-year forecast and in line with our forecast....
282 Views
GOLD: Determined Plan to Reach Top Five in Thai Property
We initiate coverage on GOLD with a BUY rating, based on a target price of Bt18 and derived from the 20xPE’18E of World Real Estate sector. The...
362 Views