The Week That Was in ASEAN@Smartkarma - Remarkable Vietnam, Indonesian Retail, and Thai Banks
This past week's offering of Insights across ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive and actionable...
404 Views
SPA: Impact of COVID-19 Already Priced In
We maintain BUY rating but cutting our target price down by 23% to Bt14.6 based on 34xPE’1H21E, which is equal to its three-year trading average. •...
381 Views
The Festive Week That Was in ASEAN@Smartkarma - Thai Politics, Indonesia's Minimarkets, and Property
This past week's offering of Insights across ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive and actionable...
923 Views
SPA: Largest Spa Chain in Thailand
We initiate coverage of SPA with a BUY rating and a 2020E target price of Bt19.1, derived from 37xPE’20E, implying 1.6xPEG’20E and equal to its...
691 Views
Five Strategies Favored by Thai Conglomerates and Tycoons
We identified five strategies generally favored by conglomerates and the tycoons who control them, namely diversification, vertical integration,...
362 Views