S: Better Outlook on Its 2H19 Performance
Site visit at The ESSE at Singha Complex and The ESSE Sukhumvit 36 came out with a positive tone. We maintain BUY rating on S with a 2019 target...
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The Four Vulnerabilities in Thai Property
As the year closes, developers from giant AP to SC Asset have been warning markets about a downturn in the property market in 2019, and the world...
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GOLD: FY4Q18 Grew Both YoY and QoQ, with Upside from Sale of FYI CENTER to GVREIT
GOLD reported FY4Q18 net profit of Bt525m (+6%YoY, +4.3%QoQ). The FY18 result was in line with our forecast. FY18 net profit grows 93%YoY to...
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The Fine Arts of Luxury Investing
With high levels of wealth concentration in Thailand (Gini coefficient 0.3), it makes sense to market to the wealthy, but how exactly do you invest...
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QH: Dividend Play Outshines Thai Property Peers
We initiate coverage on Quality Houses (QH TB) with a BUY rating, based on a target price of Bt3.9 and derived from our target of 10.5xPE’1H19E,...
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