Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Debt Capital Markets

iShares MSCI Thailand / Debt Capital Markets

<ul>
<li>We sample blue-chip and household Thai corporations and plot the 12-month probability of default (PD) using iRAP</li>
<li>The median 12-month PD of the above samples was 11.15 basis points (bps), up from 5bps last November, with a trend showing continuing deterioration in the next 12 months</li>
<li>We expect more political upheaval and economic adjustment from the military conflict with Cambodia and the19% tariff on exports to the US to be quite detrimental to the Thai economy.</li>
</ul>


We sample blue-chip and household Thai corporations and plot the 12-month probability of default (PD) using iRAP
The median 12-month PD of the above samples was 11.15 basis points (bps), up from 5bps last November, with a trend showing continuing deterioration in the next 12 months
We expect more political upheaval and economic adjustment from the military conflict with Cambodia and the19% tariff on exports to the US to be quite detrimental to the Thai economy.


Bond Market Monitor: Thai Corporations UnSmiled

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Jun 13th. We estimate that they had an aggregated short interest worth USD2.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in TMBThanachart Bank, Bangkok Dusit.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jun 13th. We estimate that they had an aggregated short interest worth USD2.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in TMBThanachart Bank, Bangkok Dusit.


Thailand Short Interest Weekly (Jun 13th): TMBThanachart Bank, Bangkok Dusit

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of May 16th. We estimate that they had an aggregated short interest worth USD2.1bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL, Scb X.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of May 16th. We estimate that they had an aggregated short interest worth USD2.1bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL, Scb X.


Thailand Short Interest Weekly (May 16th): Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of May 2nd. We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf Energy Development, Tisco Financial, True, Cp Foods, Central Retail.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of May 2nd. We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf Energy Development, Tisco Financial, True, Cp Foods, Central Retail.


Thailand Short Interest Weekly (May 2nd): Delta Electronics, Scc, Krung Thai Bank

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 25th. We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Delta Electronics, Krung Thai Bank, Ptt E&amp;P, Kasikornbank, Scc, Gulf Energy Development.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 25th. We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Delta Electronics, Krung Thai Bank, Ptt E&amp;P, Kasikornbank, Scc, Gulf Energy Development.


Thailand Short Interest Weekly (Apr 25th): Delta Electronics, Krung Thai Bank, Ptt E&P, Kasikornbank

Thailand

Krung Thai Bank Public Company Limited is a state-owned commercial bank offering various banking and financial services including commercial, consumer, credit card, and mortgage loans, as well as provident fund management, foreign exchange, and international trade financing services.  The Bank is majority owned by the Financial Institutions Development Fund.

Price Gauge
52-week Range	0.00 - 0.00
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Krung Thai Bank Pub (KTB TB)

Bond Market Monitor: Thai Corporations UnSmiled

12-month probability of default for Thai corporations is on the rise, with political and economic challenges ahead due to military conflict and...

Bondcritic

Thailand Short Interest Weekly (Jun 13th): TMBThanachart Bank, Bangkok Dusit

We analyzed SET short interest report for the past week and highlighted short interest changes in TMBThanachart Bank, Bangkok Dusit.

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (May 16th): Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL

We analyzed SET short interest report for the past week and highlighted short interest changes in Tmbthanachart Bank, Scc, Advanced Info Service,...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (May 2nd): Delta Electronics, Scc, Krung Thai Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Apr 25th): Delta Electronics, Krung Thai Bank, Ptt E&P, Kasikornbank

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Krung Thai Bank, Ptt E&P,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Bond Market Monitor: Thai Corporations UnSmiled

​12-month probability of default for Thai corporations is on the rise, with political and economic challenges ahead due to military conflict and...

Bondcritic

Thailand Short Interest Weekly (Jun 13th): TMBThanachart Bank, Bangkok Dusit

We analyzed SET short interest report for the past week and highlighted short interest changes in TMBThanachart Bank, Bangkok Dusit.

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (May 16th): Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL

We analyzed SET short interest report for the past week and highlighted short interest changes in Tmbthanachart Bank, Scc, Advanced Info Service,...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (May 2nd): Delta Electronics, Scc, Krung Thai Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Apr 25th): Delta Electronics, Krung Thai Bank, Ptt E&P, Kasikornbank

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Krung Thai Bank, Ptt E&P,...

Ke Yan, CFA, FRM

12-month probability of default for Thai corporations is on the rise, with political and economic challenges ahead due to military conflict and...