In today’s briefing:
- KKP – Small Enough To Grow
- Thai Stanley Electric (STANLY.BK) – To Grow In Sync With Auto Industry
KKP – Small Enough To Grow
- This smaller Thai bank can more easily grow due to relatively small loan base
- Strong core fundamentals of rising interest income and falling funding costs
- Credit costs remain inflated, falling figures can support strong ROA growth
Thai Stanley Electric (STANLY.BK) – To Grow In Sync With Auto Industry
- BUY for cheap valuation and high cash on hand
- Auto production forecast to grow 6.8% in 2022
- Strong recovery in FY22E, more growth in FY23E
- High growth potential
Before it’s here, it’s on Smartkarma
