Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

BG Container Glass PCL / Equity Bottom-Up

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<li>Yesterday site visit to BVP and BGP plants came out as neutral tone.We do see its underlying growth potential but believe both will not be a growth driver for 2022-23. </li>
<li>Yesterday’s company visit came in at neutral tone : We visited BVP (Paper packaging manufacturer) at Pathumthani and BGP (PET and Plastic films packaging manufacture) at Ayutthaya. </li>
<li>A challenging growth roadmap, but only time will tell: The company target to achieve sales to Bt25bn by 2025,representing a 19% 4Y CAGR (2021-25E) by M&amp;A strategy focusing at businesses </li>
</ul>


Yesterday site visit to BVP and BGP plants came out as neutral tone.We do see its underlying growth potential but believe both will not be a growth driver for 2022-23. 
Yesterday’s company visit came in at neutral tone : We visited BVP (Paper packaging manufacturer) at Pathumthani and BGP (PET and Plastic films packaging manufacture) at Ayutthaya. 
A challenging growth roadmap, but only time will tell: The company target to achieve sales to Bt25bn by 2025,representing a 19% 4Y CAGR (2021-25E) by M&amp;A strategy focusing at businesses 


BG Container Glass PCL

BGC : Packaging Remains a Key Focus