Equity Analysis /
Thailand

Ditto Thailand PCL: Buy ‘Ents’—Guardian of Trees

  • 10,000 rais + 10,000 rais

  • Tokenization backed by carbon credit

  • 50-100% upside

Napon Jaisan
Napon Jaisan

Equity Research Analyst

Follow
Bualuang Securities
25 January 2023

The more we do to offset our carbon emissions today, the easier it’ll be to reduce that footprint in the future. Green tech will be the big investment theme of the 21st century. DITTO is the obvious proxy for a carbon credit stock in Thailand’s stock market. BUY now for the future!

10,000 rais + 10,000 rais

Last year, DITTO was allocated land for mangrove reafforestation totaling 11,448 rai under a contract period of 30 years. Last week, the firm acquired another 10,000 rai. According to Unearthed (UK-Greenpeace’s award-winning publication), Worldview (a foundation that runs a mangrove conservation projects in Myanmar), sold carbon credits for around $10.70/tonne to Swiss reseller, MyClimate, which then resold them for more than $30/tonne, mid-2022. We believe that the price reflected the credits replacement costs for its clients should the mangrove project fail. In Myanmar, there are very high political risks. In contrast, carbon credit prices in Thailand are incredibly low at only $1/tonne.