Industry Update – Energy (Power Sector) - October 27, 2023
The risk regarding the government’s policy to subsidize electricity bills through the reduction of Ft will have a direct impact on SPP operators’...
397 Views
Exports & Imports - Thai Exports in December Contracted by 14.6% YoY
Thai exports are likely to continue contracting in 2023E amid the economic slowdowns in key trading partners, namely the US and Europe, which are...
355 Views
GPSC : Rising Gas Prices Dragged 3Q22 Earnings
We maintain the HOLD rating with a TP of Bt69.0 due to limited upside from the current share price. GPSC’s 3Q22 net profit dropped 52% QoQ to...
257 Views
GPSC : 2Q22 Earnings Recovered QoQ
We maintain our HOLD rating due to limited upside following the rise in gas cost in 2H22. GPSC’s 2Q22 net profit doubled QoQ to Bt684m (-70% YoY),...
170 Views
GPSC: Improving Earnings Performance from Tariff Adjustment
We maintain the HOLD rating based on a target price of Bt69.0, derived using DCF methodology (WACC 5.7% and TG 1%), implying 32x PE’23E. Our...
354 Views