In today’s briefing:
- Quiddity Leaderboard SET50 Dec 23: Final Expectations; Only ONE Change Likely
- Bumrungrad Hospital (BH TB): Strong 3Q23 Performance; Middle-East Tension Plays Spoilsports
Quiddity Leaderboard SET50 Dec 23: Final Expectations; Only ONE Change Likely
- The SET50 index tracks the performance of the top 50 largest and most liquid names listed in the Stock Exchange of Thailand (SET).
- In this insight, we take a look at the potential ADDs/DELs for Thailand’s SET50 index rebalance in December 2023.
- I currently see only one ADD and one DEL for the SET 50 index and with more than 90% of the reference period complete, these are my final expectations.
Bumrungrad Hospital (BH TB): Strong 3Q23 Performance; Middle-East Tension Plays Spoilsports
- In 3Q23, Bumrungrad Hospital Pub Co (BH TB) reported 18% YoY revenue growth to THB6.8 billion, driven by 27% and 20% YoY growth in Thai and expat patients revenue, respectively.
- Revenue from international patients grew 16% YoY, driven by Middle-east and China, which grew 31% and 21%, YoY, respectively. EBITDA, PAT, and their respective margins reached record high in 3Q23.
- Due to heavy revenue exposure in Middle-east, the ongoing tension in the region is acting as a setback. Bumrungrad shares tumbled ~15% over the last one month.
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