Emerging Market Telecoms: Returns Have Bottomed. Outlook Improves.
Returns in emerging market wireless telecoms have bottomed as the sector takes a capex holiday after the 4G roll-out. We continue to like...
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DTAC & Jaymart: Rise of the Pikachu
Operators are the prime beneficiaries of the Pokemon Go craze that hit Thailand, though we suspect DTAC may benefit more than True Corp given its...
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DTAC: A 90% Profit Decline. Worse to Come?
We have been cautious on the outlook for the Thai Telecoms players for some time. While the failure of Jasmine to pay for 900MHZ spectrum removed...
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AIS: Positive Signals After the Noise
We are positive on AIS, Thailand's largest mobile operator, post 4G license bidding. While undeniably expensive, the licenses secure the company's...
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Thai Telcos: TRUE's Gains Are AIS/DTACs' Loss
We are bearish on the leading two mobile operators in Thailand. Revenues, earnings and dividends are likely to continue to fall as rising...
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