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SC Asset Corp PCL: Grand Bangkok Boulevard proves strong demand for high-end launches

High-end demand proved by Grand Bangkok Boulevard brand. Achievable presale target, strong profit growth outlook for 3Q22. Scope for upside to the profit forecasts of the street and ourselves.
Bualuang Securities Phoowadol
Phoowadol Phoosodngern @ Bualuang Securities 20 September 2022

Thailand: Tourism sector - Clear skies for tourism

Tourism activity accelerating in 2H22. AOT and AWC are our top sector picks. Valuations not excessive.
Bualuang Securities Kalvalee
Kalvalee Thongsomaung @ Bualuang Securities 13 September 2022

Asset World Corp PCL: Strong post-COVID growth profile

Four reasons to BUY AWC. Faster growth profile supports higher valuation. Commercial business is recovering.
Bualuang Securities Kalvalee
Kalvalee Thongsomaung @ Bualuang Securities 13 September 2022

Thailand: Residential Property - The house view: Looking to 3Q22 and beyond

Quarterly earnings heading into an uptrend. Hefty 2H22 condo transference to support core profit growth. Launch value to more than double QoQ in 3Q22, so heavier presales.
Bualuang Securities Phoowadol
Phoowadol Phoosodngern @ Bualuang Securities 9 September 2022

Sansiri PCL: Redefining high-end home demand—good response and more to come!

NARASIRI proves the strength of high-end housing demand. Presales target of Bt35bn now looks plausible. 2022 business plan on-target.
Bualuang Securities Phoowadol
Phoowadol Phoosodngern @ Bualuang Securities 30 August 2022

Dar Alarkan: Weak earnings on lower than expected revenues

Revenue grew 19.4% yoy (-58.1% qoq) to SAR678mn in Q2 22. Gross margins contracted by 38bps yoy to 36.2% in Q2 22. Opex in absolute terms increased 96.0% yoy (+38.1% qoq) to SAR88.0mn.
SNB Capital Talha
Talha Nazr @ SNB Capital 28 August 2022