TOP: Neutral Refinery and Weak Aromatics Outlook for 2H21
Yesterday analyst meeting came out with a neutral outlook for 2H21 refinery business. The GIM should remain stable in 3Q-4Q21 and improve 1H22...
139 Views
Earnings Review: Thai Oil Plc.
TOP’s refinery remains the challenge to its earnings given the slow recovery of the refinery market amid concern over the spread of the Delta variant.
41 Views
TOP: Long Term Positive Outlook on Investment in Chandra Asri
We have long term positive outlook on TOP’s new investment in Chandra Asri given the value accretion from entry to high value olefins business...
162 Views
The Week That Was in ASEAN@Smartkarma - Indonesia's Peak, Mayora Indah, and IPOs
The week that was in ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive, and actionable insights from across South...
182 Views
Energy Sector Outlook 3Q21
We maintain the BUY recommendation based on a target price of Bt146, derived using DCF methodology (WACC 9.4%, TG 2%). Our valuation implies 11x...
203 Views