IVL: Disappointed Spreads Dragged Its Performance Down
IVL reported 3Q19 net profit of Bt792m (-92%YoY,-65%QoQ), the worst in almost four years. Thus, we cut our earnings forecast in 2019-21E by 29-50%...
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The Week that Was in ASEAN@Smartkarma - Thai Strategy, a Syariah Wonder, and HM Sampoerna
This past week's offering of Insights across ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive and actionable...
507 Views
IVL: Insignificant Impact from Plastic Banning
We believe an issue on banning of single-use plastics will push only a short-term negative sentiment on IVL, whereas the worst case impact would be...
431 Views
The Week that Was in ASEAN@Smartkarma - Bank Mandiri, Thai High-Flyers, and Singtel's Digital Quest
This past week's offering of Insights across ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive and actionable...
367 Views
IVL: World-Class Company with Potential for More Growth
We initiate coverage of IVL with a BUY rating and a 1H20E target price of Bt47.50, derived from 13.5xPE’1H20, which is the world Materials Sector...
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