GOLD: Determined Plan to Reach Top Five in Thai Property
We initiate coverage on GOLD with a BUY rating, based on a target price of Bt18 and derived from the 20xPE’18E of World Real Estate sector. The...
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SCB Mounts a White Knight Rescue for Pace
After telling PACE not to sell Dean & Deluca to CENTEL, SCB mounts a surprisingly bold rescue mission for PACE. Initially, they will buy some...
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The Yingluck Political Overhang
The Thai stock market continues to be under pressure from foreign selling. One underlying issue has always been the prospect of QE unwinding, which...
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Thai Macro Watch (Part 2): Policy Divergence & Portfolio Thoughts
Our thoughts on portfolio is simple. “Lay low for the moment yo.” Sometimes, the best thing to do is nothing, and strangely that’s easier said that...
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BTS Group: Positioning For Growth
The Big Picture. It’s easy to focus on the negatives and say that BTS’s earnings halved from Bt4.1bn in 2015 to Bt2bn in 2016, but the consolidated...
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