In today’s briefing:
- SET50 Index Rebalance Preview (June): Two Changes, Maybe Three
- KEX: Price War Still Go on for the at Least Until 2nd Half of 2022
SET50 Index Rebalance Preview (June): Two Changes, Maybe Three
- The market cap review period for the June rebalance of the Stock Exchange of Thailand SET 50 Index (SET50 INDEX) starts in a couple of weeks.
- Using the last close, we see JMT Network Services (JMT) and Bangkok Life Assurance (BLA) as potential inclusions, replacing Ratch Group PCL (RATCH TB) and KCE Electronics PCL (KCE TB).
- Ratch Group PCL is the lowest ranked index constituent and needs to move 15% higher to avoid deletion. Passive trackers will need to sell nearly 4 days of ADV.
KEX: Price War Still Go on for the at Least Until 2nd Half of 2022
- We anticipate KEX earnings performance to experience net loss for at least in the next two quarters while expecting to see market consolidation within the express delivery industry in Thailand
- First net loss since listed at Bt604m in 4Q21 pressured by aggressive price cutting strategy and cost arise from spare resources on labour and transportation. This resulted
- Report Bt47m net profit in 2021 (-98%YoY) due to a price war which resulted in a drastic fall in average selling price. (contracted 20-25%YoY in 2021)
Before it’s here, it’s on Smartkarma
