Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

Delta Taiwan Vs. Thailand Monitor: Delta Thai Surges On No News; When Will SET50 Be Fixed?

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Equity Bottom-Up

Delta Electronics Thailand  / Equity Bottom-Up

<ul>
<li>Delta Thailand has rallied 22.7% from its recent low, despite the local Thai market declining while the Taiwan market rose.</li>
<li>Latest Delta Thailand surge unlikely due to Thai market fund flows or company developments. Delta Taiwan generates 2.5x the net profit with similar growth, yet has a smaller market cap.</li>
<li>Over time, relative pricing should trend in Delta Taiwan's favor as valuations are likely to drive longer-term performance -- Also, should the SET50 Index be fixed? Seems broken.</li>
</ul>


Delta Thailand has rallied 22.7% from its recent low, despite the local Thai market declining while the Taiwan market rose.
Latest Delta Thailand surge unlikely due to Thai market fund flows or company developments. Delta Taiwan generates 2.5x the net profit with similar growth, yet has a smaller market cap.
Over time, relative pricing should trend in Delta Taiwan's favor as valuations are likely to drive longer-term performance -- Also, should the SET50 Index be fixed? Seems broken.


Delta Taiwan Vs. Thailand Monitor: Delta Thai Stages Sharp Rebound; Should SET50 Index Be Fixed?