PM: 4Q17 Slightly Trimmed Due to a Surge in SG&A
 4Q17 EPS was at Bt0.11 (+37%YoY and -35%QoQ). The company reports FY17 EPS of Bt0.85 (+47%YoY) and 6% lower than our forecast 4Q17 net profit was...
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WINNER: Food Solution Champion
We initiate coverage on WINNER with a BUY rating, based on a target price of Bt4.90 and derived from 17xPE’18E, the level at which it reached its...
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PM: New Directions to Lift Versatile Consumer Product Trader
We initiate coverage on PM with a BUY rating, based on a target price of Bt19.20 and derived from its 22.2xPE’18E of Asia ex-Japan Consumer...
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Sector Capsule: Apparel Accessories in Thailand
Headlines Apparel accessories increases by 3% in current value terms in 2016, to reach THB11.2 billion Outbound tourists support the demand for...
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Reality Check IV: Can "Shop Peau Chart" Revive Thai Retailing?
The military government has revived the "Shop Peau Chart" campaign which aims to spur retail spending in the last days of December 2016. We think...
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