Earnings Review - PTT Oil and Retail Business (OR)
We expect OR to deliver a 2Q23E NP of Bt2.77bn (-58% YoY, -7% QoQ). Its earnings may have been pressured on a YoY basis by the mobility business
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Industry Update – Energy (Oil Retailers)
The Oil Fund will be used as the mechanism to cap the diesel price after the Bt5/liter excise tax reduction scheme expires on July 20, 2023, which...
411 Views
SCG Chemicals Pre-IPO -The Negatives - Recent Performance Has Been Weak
SCG Chemicals (SCGC TB) (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO. In this note, we will talk about the not-so-positive...
331 Views
SCG Chemicals Pre-IPO -The Positives - A Strong Regional Player
SCG Chemicals (SCGC) is looking to raise around US$1bn in its upcoming Thailand IPO. In this note, we talk about the positive aspects of the deal.
315 Views
PTT Oil and Retail Business - Empowering All Toward Inclusive Growth
We initiate OR with an Outperform rating (FV: Bt22.16), based on a required rate of return of 5.4%. Our valuation matrix suggests that the current...
197 Views