Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Mongkol Prakitchaiwattana is the second largest shareholder in <a href="https://www.smartkarma.com/entities/krungthai-card-pcl" target="_blank" data-smartkarma-citation="entities:20097:1" rel="noopener">Krungthai Card (KTC TB)</a>, behind <a href="https://www.smartkarma.com/entities/krung-thai-bank-pub-co-ltd" target="_blank" data-smartkarma-citation="entities:298:1" rel="noopener">Krung Thai Bank Pub (KTB TB)</a>.</li>
<li>He also holds stakes in <a href="https://www.smartkarma.com/entities/xspring-capital-pcl" target="_blank" data-smartkarma-citation="entities:19807:1" rel="noopener">XSpring Capital (XPG TB)</a>, <a href="https://www.smartkarma.com/entities/bec-world-public-co-ltd" target="_blank" data-smartkarma-citation="entities:16881:1" rel="noopener">BEC World Public (BEC TB)</a>, and <a href="https://www.smartkarma.com/entities/the-practical-solution-public-company-limited" target="_blank" data-smartkarma-citation="entities:45379:1" rel="noopener">The Practical Solution (TPS TB)</a>.
</li>
<li>All four companies went limit down on the 23rd June. And again the next day. Both KTC and TPS say nothing has fundamentally changed. The cause? Margin calls. </li>
</ul>


Mongkol Prakitchaiwattana is the second largest shareholder in Krungthai Card (KTC TB), behind Krung Thai Bank Pub (KTB TB).
He also holds stakes in XSpring Capital (XPG TB), BEC World Public (BEC TB), and The Practical Solution (TPS TB).

All four companies went limit down on the 23rd June. And again the next day. Both KTC and TPS say nothing has fundamentally changed. The cause? Margin calls. 


Krungthai Card (KTC TB): Buying Opportunity After Margin Call

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>BEC World is navigating a structural decline in its core television advertising business by focusing on a 'Single Content Multiple Platforms' strategy. This involves diversifying revenue streams through its digital platform '3Plus' and aggressively expanding its global content licensing business.</li>
 <li>Financial performance reflects industry-wide headwinds, with a consistent decline in revenue and net income over the past three years. While the company is focused on cost management, the erosion of high-margin advertising revenue continues to pressure profitability.</li>
 <li>The company's future hinges on its ability to successfully monetize its extensive content library across new digital and international platforms to offset the secular decline in traditional broadcasting. Growth in content licensing and digital subscriptions are key strategic imperatives.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  BEC World is navigating a structural decline in its core television advertising business by focusing on a 'Single Content Multiple Platforms' strategy. This involves diversifying revenue streams through its digital platform '3Plus' and aggressively expanding its global content licensing business.
  Financial performance reflects industry-wide headwinds, with a consistent decline in revenue and net income over the past three years. While the company is focused on cost management, the erosion of high-margin advertising revenue continues to pressure profitability.
  The company's future hinges on its ability to successfully monetize its extensive content library across new digital and international platforms to offset the secular decline in traditional broadcasting. Growth in content licensing and digital subscriptions are key strategic imperatives.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: BEC World Public (BEC TB) - Nov 2025

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,301/1,306 points (25-day EMA) and the support at 1,287/1,281 points.</li><li>The market anticipates that stocks at risk of being removed from the index are AWC, GPSC, EA, IVL and KTC, which could negatively impact their share prices today.</li><li>The subdued growth in inflation and PPI reflects ongoing weakness in China's domestic economic activities, which continues to weigh on economic growth this year.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,301/1,306 points (25-day EMA) and the support at 1,287/1,281 points.The market anticipates that stocks at risk of being removed from the index are AWC, GPSC, EA, IVL and KTC, which could negatively impact their share prices today.The subdued growth in inflation and PPI reflects ongoing weakness in China's domestic economic activities, which continues to weigh on economic growth this year.

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,386 points (10-day EMA)/1,379 points and the resistance at 1,396 points (50-day EMA)/1,400 points.</li><li>Most Asian stock markets remain closed today for the Chinese New Year holiday.</li><li>US inflation is a key variable used to determine the direction of the Fed's policy interest rate, which is at risk of not being cut as soon as the market expects.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,386 points (10-day EMA)/1,379 points and the resistance at 1,396 points (50-day EMA)/1,400 points.Most Asian stock markets remain closed today for the Chinese New Year holiday.US inflation is a key variable used to determine the direction of the Fed's policy interest rate, which is at risk of not being cut as soon as the market expects.

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,405/1,411 points (10-day and 25-day EMA) and the support at 1,390/1,385 points, based on the short-term uptrend reversal pattern.</li><li>KTX anticipates that this meeting's outcome could mark the first instance of the MPC opting to maintain the policy interest rate, breaking a trend of eight consecutive hikes.</li><li>The consensus expects the second reading of US 3Q23E GDP growth to mark at +4.9% QoQ (vs. 2Q23 at +2.1% QoQ); and the 4Q23E GDP growth is still likely to show a positive surprise, based on the Atlanta Fed's forecast calling for a healthy reading of +2.1% QoQ, which is much higher than the consensus forecast of +0.8% QoQ.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,405/1,411 points (10-day and 25-day EMA) and the support at 1,390/1,385 points, based on the short-term uptrend reversal pattern.KTX anticipates that this meeting's outcome could mark the first instance of the MPC opting to maintain the policy interest rate, breaking a trend of eight consecutive hikes.The consensus expects the second reading of US 3Q23E GDP growth to mark at +4.9% QoQ (vs. 2Q23 at +2.1% QoQ); and the 4Q23E GDP growth is still likely to show a positive surprise, based on the Atlanta Fed's forecast calling for a healthy reading of +2.1% QoQ, which is much higher than the consensus forecast of +0.8% QoQ.

Thailand

BEC World is a Thai media conglomerate primarily known as the operator of television Channel 3. The company provides content across various platforms, including terrestrial television, digital platforms (such as 3Plus), and global content licensing, along with supporting businesses like program sourcing, production, and distribution. BEC World was founded in 1967 and is headquartered in Bangkok, Thailand.

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BEC World (BEC TB)

Krungthai Card (KTC TB): Buying Opportunity After Margin Call

Buy Krungthai Card (KTC TB). Then buy some more. Shares are liquid. XSpring Capital (XPG TB) and BEC World Public (BEC TB) are clear buys, but both...

David Blennerhassett

Primer: BEC World Public (BEC TB) - Nov 2025

BEC World is navigating a structural decline in its core television advertising business by focusing on a 'Single Content Multiple Platforms'...

αSK Primers

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways up, with the resistance at 1,301/1,306 points (25-day EMA) and the support at 1,287/1,281...

Krungthai XSpring

Wait for US Inflation Figure

Technically, the SET Index is expected to move sideways, with the support at 1,386 points (10-day EMA)/1,379 points and the resistance at 1,396...

Krungthai XSpring

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways up, with the resistance at 1,405/1,411 points (10-day and 25-day EMA) and the support at...

Krungthai XSpring

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