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Bualuang Securities
Coverage:
Thailand
Bualuang Securities is a subsidiary of Bangkok Bank and is one of the leading securities companies in Thailand. Bualuang Securities provides a full range of securities services including securities and derivatives brokerage and investment banking.
Location: Thailand
Analysts
Latest articles from Bualuang Securities
Equity Analysis /
Thailand
Thailand (Bualuang) Residential Property: Uneven recovery; AP leads pack
Aggregate 3Q20 ResProp coverage presales of Bt47.6bn are expected (73% low-rise, 27% condo), down by 1% YoY and 16% QoQ. Low-rise presales (Bt34.9bn) should rise 18% YoY, but slide 16% QoQ (a record of Bt41.7bn was set by 2Q20). Only AP may sustain r...
Narumon Ekasamut @ Bualuang Securities 22 October 2020
Equity Analysis /
Thailand
Lighter LLPs ahead—time for bottom-fishing
At end-Sep 2020, SCB’s loan portfolio was up 2.7% YTD—corporate business by 5.5% YTD and SME lending by 3.2% YTD. We expect 2020 loan growth of 4% (in line with management guidance of 3-5% growth), driven by corporate business (which is generally saf...
Suwat Bumrungchatudom @ Bualuang Securities 22 October 2020
Equity Analysis /
Thailand
Result beat; lower OPEX than modeled
BAY reported a 3Q20 profit of Bt6.1bn, down by 7% YoY and 6% QoQ. The result was 15% above theBloombergconsensus and 22% over our forecast, due mainly to lighter OPEX than modeled. The bank set 3Q20 OPEX of Bt11.3bn; we had assumed Bt12.5bn. Pre-prov...
Suwat Bumrungchatudom @ Bualuang Securities 22 October 2020
Earnings Report /
Thailand
Deep miss, due to heavy LLPs
Profit was 45% below our forecast. KTB posted 3Q20 earnings of Bt3.1bn. 9M20 earnings dived 39% YoY to Bt13.3bn.
Suwat Bumrungchatudom @ Bualuang Securities 22 October 2020
Equity Analysis /
Thailand
Starting the NEXT innovation chapter (with power biz as back-up)
BPP’s portfolio contains operating power projects—both thermal and renewable power plants—totaling 2.8GWe, located in Thailand, Laos, China, and Vietnam. Those assets have good track records of resilient performances and cashflows, secured by long-te...
Kijapat Wongmetta @ Bualuang Securities 21 October 2020
Earnings Report /
Thailand
Earnings miss; heavy LLPs
SCB reported a 3Q20 bottom-line of Bt4.6bn, down by 69% YoY and 44% QoQ. The result was 29% below our projection and 27% shy of the Bloomberg consensus, due to much heavier loan loss provisioning than modeled. SCB set 3Q20 LLPs of Bt13bn; we had assu...
Suwat Bumrungchatudom @ Bualuang Securities 21 October 2020
