Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

Equity Bottom-Up

<ul>
<li>The cinema industry has been suffering from COVID-19 restrictions, in particular social distancing measures that have kept cinema operating rates low.</li>
<li>Now that the release pipeline looks strong again, cinemas will be on a path to recovery. I doubt that the global box office will reach the 2019 level this year, but it will get closer to that number.</li>
<li>Cinema operators worth mentioning include North America’s Cinemark, Cineplex and Marcus Corporation, China’s IMAX China and Thailand’s Major Cineplex.</li>
</ul>


The cinema industry has been suffering from COVID-19 restrictions, in particular social distancing measures that have kept cinema operating rates low.
Now that the release pipeline looks strong again, cinemas will be on a path to recovery. I doubt that the global box office will reach the 2019 level this year, but it will get closer to that number.
Cinema operators worth mentioning include North America’s Cinemark, Cineplex and Marcus Corporation, China’s IMAX China and Thailand’s Major Cineplex.


Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

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Krungthai XSpring

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Thematic (Sector/Industry)

<ul><li>We recommend buying MEGA and MAJOR.</li><li>MEGA’s share price has rebounded by more than 5% over the past two weeks on the market’s expectations for a limited impact from Myanmar’s government ordering the suspension of loan repayments in foreign currencies.</li><li>The firm’s 2022E earnings are forecast to grow 8.68% YoY to Bt2,116mn, driven by the depreciation of the baht, the development of new projects and expansion to new markets with low competition.</li></ul>

We recommend buying MEGA and MAJOR.MEGA’s share price has rebounded by more than 5% over the past two weeks on the market’s expectations for a limited impact from Myanmar’s government ordering the suspension of loan repayments in foreign currencies.The firm’s 2022E earnings are forecast to grow 8.68% YoY to Bt2,116mn, driven by the depreciation of the baht, the development of new projects and expansion to new markets with low competition.

Thailand

Major Cineplex Group Public Company Limited operates movie theater chain under Major Cineplex name, and bowling alley chain under Major Bowl name. The Company also provides theater advertising services and concession stand rentals in its movie and bowling complexes.

Major Cineplex Group (MAJOR TB)

The 2023 Box Office Looks Promising

Expect another year of recovery. The cinema industry has been suffering from COVID-19 restrictions, in particular social distancing measures that...

Asian Century Stocks

Big Cap Tactical Picks - Aug 3, 2022

MEGA’s share price has rebounded by more than 5% over the past two weeks on the market’s expectations for a limited impact from Myanmar’s government

Krungthai XSpring