Equity Analysis /
Thailand

TH : Construction - South Purple Line to lift backlog and margin

    Kasem Prunratanamala
    Kasem Prunratanamala

    Head of Thailand Research

    Follow
    CGS-CIMB
    14 January 2022
    Published byCGS-CIMB

    Three groups of bidders have emerged for six South Purple Line contracts, signaling tame competition, in our view. The THB78.7bn projects are divided into four underground contracts, one aboveground and one trackwork. We reiterate our Overweight call on the sector with STEC as our top pick.