Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

<p><strong>Only Gets Hotter from Here On. </strong>Summer typically starts in February in Thailand. In the South, there are only two seasons, but elsewhere, summer will stretch between February to around May. We are not saying every stock in this article is a buy. What we're saying is that for them, summer usually acts as an important sales catalyst or at least a time when they gain attention from investors yo. The rainy season, which starts in late May and goes all the way to October, is by far the country's…</p>

Only Gets Hotter from Here On. Summer typically starts in February in Thailand. In the South, there are only two seasons, but elsewhere, summer will stretch between February to around May. We are not saying every stock in this article is a buy. What we're saying is that for them, summer usually acts as an important sales catalyst or at least a time when they gain attention from investors yo. The rainy season, which starts in late May and goes all the way to October, is by far the country's…

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.

Event-Driven

PTT Oil and Retail Business / Event-Driven

<ul><li>Modulus Venture Co., Ltd. (“Modulus,” a wholly owned subsidiary of OR) has acquired a 55.41% stake in Thai Pipeline Network Co., Ltd. (“TPN”), which operates an oil pipeline system from Saraburi to the Northeast, from Big Gas Technology Co., Ltd. for a total value of up to Bt2.2bn (with EGCO holding the remaining 44.59%).</li><li>We view the investment in TPN as a strategic asset that enhances the longterm competitiveness of OR’s mobility business, particularly in the Northeast, which accounts for ~30% of its total oil sales volume (with ~40% market share and ~649 service stations, or ~27% of its nationwide network).</li><li>We expect TPN to have limited contribution to OR’s earnings in the short to medium term, as it remains loss-making.</li></ul>

Modulus Venture Co., Ltd. (“Modulus,” a wholly owned subsidiary of OR) has acquired a 55.41% stake in Thai Pipeline Network Co., Ltd. (“TPN”), which operates an oil pipeline system from Saraburi to the Northeast, from Big Gas Technology Co., Ltd. for a total value of up to Bt2.2bn (with EGCO holding the remaining 44.59%).We view the investment in TPN as a strategic asset that enhances the longterm competitiveness of OR’s mobility business, particularly in the Northeast, which accounts for ~30% of its total oil sales volume (with ~40% market share and ~649 service stations, or ~27% of its nationwide network).We expect TPN to have limited contribution to OR’s earnings in the short to medium term, as it remains loss-making.

PTT Oil And Retail Business Plc (OR): Acquiring A 55.41% Stake In Thai Pipeline Network...

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 27th. We estimate that they had an aggregated short interest worth USD3.5bn.</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 Intouch, Bangkok Dusit, Central Pattana, Gulf Energy Development, PTG Energy, Bangkok Dusit, Gulf Energy Development, Central Pattana.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 27th. We estimate that they had an aggregated short interest worth USD3.5bn.
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 Intouch, Bangkok Dusit, Central Pattana, Gulf Energy Development, PTG Energy, Bangkok Dusit, Gulf Energy Development, Central Pattana.


Thailand Short Interest Weekly (Mar 27th): Intouch, Bangkok Dusit, Central Pattana

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 20th. We estimate that they had an aggregated short interest worth USD3.4bn.</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 True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True, Thaifoods.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 20th. We estimate that they had an aggregated short interest worth USD3.4bn.
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 True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True, Thaifoods.


Thailand Short Interest Weekly (Mar 20th): True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Feb 13th. We estimate that they had an aggregated short interest worth USD2.9bn.</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 Bangkok Dusit, Intouch, TISCO Financial, Gulf Energy Development, Advanced Info Service, Advanced Info Service, Bangkok Dusit, Gulf Energy Development.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Feb 13th. We estimate that they had an aggregated short interest worth USD2.9bn.
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 Bangkok Dusit, Intouch, TISCO Financial, Gulf Energy Development, Advanced Info Service, Advanced Info Service, Bangkok Dusit, Gulf Energy Development.


Thailand Short Interest Weekly (Feb 13th): Bangkok Dusit, Intouch, TISCO Financial

Thailand

Electricity Generating Public Company Limited (EGCO Group) is a holding company that invests in power generation and energy-related businesses, operating as Thailand's first independent power producer. The company's power plants generate electricity from diverse fuel sources, including natural gas, coal, biomass, hydro, solar, and wind, in Thailand, the Asia-Pacific region, and North America. EGCO was established on May 12, 1992, and is headquartered in Bangkok, Thailand.

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Electricity Generating (EGCO-R TB)

This Ain't Winterfell, Summer Is Coming!

Only Gets Hotter from Here On. Summer typically starts in February in Thailand. In the South, there are only two seasons, but elsewhere, summer...

Athaporn Arayasantiparb, CFA

PTT Oil And Retail Business Plc (OR): Acquiring A 55.41% Stake In Thai Pipeline Network...

We view the investment in TPN as a strategic asset that enhances the longterm competitiveness of OR’s mobility business, particularly in the...

Krungthai XSpring

Thailand Short Interest Weekly (Mar 27th): Intouch, Bangkok Dusit, Central Pattana

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch (INTUCH TB), Bangkok Dusit (BDMS TB),...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Mar 20th): True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True

We analyzed SET short interest report for the past week and highlighted short interest changes in True, Intouch, Thaifoods, CH. Karnchang,...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Feb 13th): Bangkok Dusit, Intouch, TISCO Financial

We analyzed SET short interest report for the past week and highlighted short interest changes in Bangkok Dusit (BDMS TB), Intouch (INTUCH TB),...

Ke Yan, CFA, FRM

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