Daily Brief Thailand: HD, Thai Oil Pcl and more

• Hana Microelectronics is a leading independent Electronics Manufacturing Service (EMS) provider in Southeast Asia with a diversified manufacturing footprint across Thailand, China, the US, Cambodia, and South Korea.
• The company is strategically positioned to benefit from long-term secular growth trends in the semiconductor industry, including the increasing electronic content in automobiles (especially EVs), the proliferation of IoT devices, and the rollout of 5G technology.
• While facing near-term headwinds from sluggish demand in certain segments and foreign exchange volatility, the company’s investment in high-growth areas like Silicon Carbide (SiC) power semiconductors and Radio Frequency Identification (RFID) presents significant future growth opportunities.

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• Thai Oil Public Company Limited (TOP) is primarily engaged in downstream oil refining, as well as the manufacture of petrochemical products.
• TOP operates Thailand’s largest complex oil refinery, with a capacity of 275 k bbl/day (accounting for c. 21% of the country’s total oil refining capacity).
• In addition, the company is expanding capacity through its clean fuel project, with the aim of raising capacity by c. 45% to 400 k bbl/day.