Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

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<li>We Maintain BUY recommendation for CKP with a target price of Bt6.40, underpinned by steady earnings growth in 2023E driven by higher electricity production from XPCL along with margin expansion </li>
<li>CKP increases 8% shareholding in LPCL CKP acquires an additional 8% share of LPCL (Luang Prabang Hydroelectric Power Project, SCOD:1Q30) for Bt2.56m, bringing the total shareholding in LPCL to 50%</li>
<li>LPCL is a 1,460MW run-of-river dam that will operate continuously year-round. It is designed with 7 turbines,each producing 200MW, and a number of auxiliary units using water from fish attraction </li>
</ul>


We Maintain BUY recommendation for CKP with a target price of Bt6.40, underpinned by steady earnings growth in 2023E driven by higher electricity production from XPCL along with margin expansion 
CKP increases 8% shareholding in LPCL CKP acquires an additional 8% share of LPCL (Luang Prabang Hydroelectric Power Project, SCOD:1Q30) for Bt2.56m, bringing the total shareholding in LPCL to 50%
LPCL is a 1,460MW run-of-river dam that will operate continuously year-round. It is designed with 7 turbines,each producing 200MW, and a number of auxiliary units using water from fish attraction 


CKP : Stable and Positive Outlook for 2023

CK Power PCL

CKP : Stable and Positive Outlook for 2023