In today’s briefing:
- Thailand – Another Asian Break
- JMT Network Services – Near Infinite Debt Collection Supply?
- MEGA: Expect Growth Rate to Slow Down in 2022
Thailand – Another Asian Break
- Numerous New Year developments suggest markets are heading towards a world where the worst of the Covid might be behind us and a better growth trajectory awaits
- Yields have moved higher, airlines & transport have performed well, Oil is up, and some Asian markets have started to rebound or breakout – Australia, Vietnam & India as examples
- This brings Thailand in focus as one of the major tourist destinations. The charts below show the breakouts and potential trends at work
JMT Network Services – Near Infinite Debt Collection Supply?
- Can benefit from years of strong growth in banks’ debt collection
- Returns remain exceptional at over 7% during last twelve months
- Book value growth is astonishing from THB121m to THB5,755m in past 10 years
MEGA: Expect Growth Rate to Slow Down in 2022
- We maintain BUY rating and roll over target price to Bt56 (+8% from previous TP) based on 25xPE’22E, a 15% discount from Thai health care peers.
- We expect MEGA revenue growth rate to slow down to 4%YoY in 2022 caused by relieved customers concern over COVID-19 pandemic and high base effect.
- Looking forward to 2023, We foresee MEGA revenue to continues to grow at moderate level at 9%CAGR in 2023-2025E, close to the global dietary supplements market growth at 8.6%CAGR(2021-2028)
Before it’s here, it’s on Smartkarma
