Category

Thailand

Apr 19
0

Daily Brief Thailand: Fabrinet and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Fabrinet – Fabrinet: A Tale Of Rapid Growth in Datacom Driven by AI Applications! – Major Drivers

Fabrinet – Fabrinet: A Tale Of Rapid Growth in Datacom Driven by AI Applications! – Major Drivers

By Baptista Research

  • Fabrinet’s recent earnings included a new record set for second quarter revenue and EPS due to rapid growth in datacom, driven specifically by next-gen AI interconnect, with revenue at $712.7 million, an increase of 7% from the previous year and 4% from the first quarter.
  • However, telecom revenue remained impacted by inventory absorption in the ecosystem – a possible note of concern.
  • The company expects telecom revenue to slightly increase in the third quarter as newer optical communication technologies, like extended reach pluggable optics, have seen increasing demand.

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Apr 18
0

Daily Brief Thailand: Ngern Tid Lor and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Quiddity Leaderboard SET50 Jun 24: 3 Changes Likely; Banpu Still Not Safe from Deletion

Quiddity Leaderboard SET50 Jun 24: 3 Changes Likely; Banpu Still Not Safe from Deletion

By Janaghan Jeyakumar, CFA

  • The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
  • In this insight, we take a look at the potential ADDs/DELs for SET during the index rebal event in June 2024.
  • With roughly half of the 3-month reference period now complete, I see three changes for the SET 50 index but one of those names is still close to the border.

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Apr 16
0

Daily Brief Thailand: Valeura Energy Inc and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Valeura Energy (TSX: VLE): Three exploration wells deliver three discoveries

Valeura Energy (TSX: VLE): Three exploration wells deliver three discoveries

By Auctus Advisors

  • The Nong Yao-13 exploration well in the new Nong Yao D area that was targeting multiple zones has encountered >30 feet of new oil play across several new shallow intervals which have not been produced elsewhere on the concession.
  • These reservoirs are believed to be recurring across the Nong Yao D area.
  • The drilling result confirms that oil has successfully migrated into this area of the block (a factor that was seen to be a risk in the Nong Yao D area) and open the opportunity for further appraisal and exploration drilling in the vicinity to derisk sufficient volumes to justify a future development.

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Apr 11
0

Daily Brief Thailand: Valeura Energy Inc and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Valeura Energy (TSX: VLE): Net cash up by >US$40 mm since YE23

Valeura Energy (TSX: VLE): Net cash up by >US$40 mm since YE23

By Auctus Advisors

  • 1Q24 production was 21.9 mbbl/d in line with our expectations.
  • Production at the end of March was ~23 mbbl/d.
  • Net cash of US$193.6 mm (US$176.3 mm unrestricted) was high given that the company sold only 1.8 mmbbl in 1Q24 with inventory building-up ~0.21 mmbbl vs YE23 to 0.9 mmbbl.

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Apr 09
0

Daily Brief Thailand: Bangchak Corporation and more

By | Daily Briefs, Thailand

In today’s briefing:

  • SET50 Index Rebalance Preview: Three Potential Changes in June

SET50 Index Rebalance Preview: Three Potential Changes in June

By Brian Freitas

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Mar 27
0

Daily Brief Thailand: Valeura Energy Inc and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Valeura Energy (TSX: VLE): Additional exploration upside. Lower decommissioning liabilities

Valeura Energy (TSX: VLE): Additional exploration upside. Lower decommissioning liabilities

By Auctus Advisors

  • FY23 production, YE23 net cash and YE23 reserves and resources had been reported previously.
  • The FY24 production guidance of 21.5-24.5 mbbl/d with US$205-235 mm opex and US$135-155 mm capex has been re-iterated.
  • Current production continues to be high, with average production for the first half of March of ~23,000 bbl/d, including ~7.9 mbbl/d for Jasmine, 7.2 mbbl/d for Nong Yao, 2.9 bbl/d for Manora and 4.9 mbbl/d for Wassana.

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Mar 20
0

Daily Brief Thailand: Ngern Tid Lor and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Quiddity Leaderboard SET50 Jun 24: Reference Period Begins; Three Changes Likely; Some Trade Ideas

Quiddity Leaderboard SET50 Jun 24: Reference Period Begins; Three Changes Likely; Some Trade Ideas

By Janaghan Jeyakumar, CFA

  • The SET50 index tracks the performance of the top 50 largest and most liquid names listed in the Stock Exchange of Thailand (SET).
  • In this insight, we take a look at the potential ADDs/DELs for SET during the index rebal event in June 2024.
  • The 3-month reference period used for average market cap rankings started on 1st March 2024 and as things stand, there could be three ADDs/DELs in June 2024.

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Mar 13
0

Daily Brief Thailand: Minor International and more

By | Daily Briefs, Thailand

In today’s briefing:

  • APAC Luxury Industry Series Update: The Growth of Luxury Travel Unmatched by Dull Share Prices

APAC Luxury Industry Series Update: The Growth of Luxury Travel Unmatched by Dull Share Prices

By Oshadhi Kumarasiri

  • This is a follow-up to our initial report on the APAC Luxury Industry where we were of the belief that small niches within the luxury sector could offer potential opportunities.
  • Below, we analyse the recent trends in luxury travel on Minor International (MINT TB), Mandarin Oriental International (MAND SP) and Shiseido Company (4911 JP).
  • While travel has rebounded to pre-pandemic levels, Shiseido’s Travel Retail struggles, yet Minor International and Mandarin Oriental are showing signs of improvement. 

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Feb 27
0

Daily Brief Thailand: Bumrungrad Hospital Pub Co and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Bumrungrad Hospital (BH TB): Record High Performance in 2023; Middle-East Performance Recovers

Bumrungrad Hospital (BH TB): Record High Performance in 2023; Middle-East Performance Recovers

By Tina Banerjee

  • In 2023, Bumrungrad Hospital Pub Co (BH TB) reported 23% YoY revenue growth to THB25.6B, driven by 32%, 17%, and 11% YoY growth in international, expat, and Thai patients, respectively.
  • Driven by high margin international patients, increasing inpatient revenue, and continued cost management, gross profit, EBITDA, and net profit margin expanded in 2023.
  • Unrest in Middle-East remained an overhang on BH’s shares. However, revenue from Middle-East patients increased at 23.3% in H2 2023 compared to H1 2023.

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Feb 23
0

Daily Brief Thailand: Bangkok Dusit Medical Services and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Bangkok Dusit Medical Services (BDMS TB): Core Business Drives 4Q23 Result; Outlook Remains Positive

Bangkok Dusit Medical Services (BDMS TB): Core Business Drives 4Q23 Result; Outlook Remains Positive

By Tina Banerjee

  • Bangkok Dusit Medical Services (BDMS TB) reported double-digit top and bottomline growth in 4Q23. Growth was attributable to international and Thai non-COVID patient revenues growth.
  • In 2023, total revenue was THB102B, up 10% YoY, matching the higher end of the guidance range of 9–10%. EBITDA margin of 24.2% remained higher than guidance of 24.0%.
  • In 2024, BDMS expects healthcare business to grow continuously on the back of secular tailwinds in the healthcare sector in Thailand.

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