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Thailand: Industrial Estate - Reopening catch-up plays

Laggard plays among reopening themes. Time for manufacturers to purchase land. Play ahead of China lifting its zero-COVID policy.
Bualuang Securities Kijapat
Kijapat Wongmetta @ Bualuang Securities 22 June 2022

SC Asset Corp PCL: New condo brand could boost 2Q22 presales

Strong bookings expected for new condo brand. Achievable presales target. Profit growth expected for 2Q22.
Bualuang Securities Phoowadol
Phoowadol Phoosodngern @ Bualuang Securities 22 June 2022

Asset World Corp PCL: Post-COVID growth play

AWC’s stock price is still 15% below its 2019 IPO price and lags behind peers. Its valuation isn’t excessive, in our view—a YE22 PBV of 2.0x, versus a peer mean of 2.9x.
Bualuang Securities Kalvalee
Kalvalee Thongsomaung @ Bualuang Securities 10 June 2022

Ananda Development PCL: Diminished expectations

For 2022, we have slashed our core profit forecast by 72% to Bt130m (ANAN marked a core loss of Bt594m for 2021), due lower expectations for project transference and a net loss at JV projects in 1Q22. Our 2023 core profit forecast is now 38% lower at...
Bualuang Securities Phoowadol
Phoowadol Phoosodngern @ Bualuang Securities 1 June 2022

Palm Hills Developments: 1Q22 – Strong start to the year

PHDC achieved impressive 1Q22 sales of EGP5.5 billion, up 62.4% y/y and 25.5% q/q, driven by growth in the number of units sold and an increase in average selling prices across all projects. Sales growth was mainly supported by growth in Badya sales ...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 31 May 2022

Weekly bulletin - 23 May - 27 May 2022

All main indexes finished on red territory last week as only the broad BGTR30 (737.01) moved North and gained modestly 0.4%. The main index SOFIX (613.62) decreased by 0.8%, followed by 0.4% fall of both BGBX40 (145.73) and BGREIT (180.91). Despite.....
First Financial Brokerage House Veselin
Veselin Radoychev @ First Financial Brokerage House 30 May 2022