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

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<li>Merger transaction between JWD and SCG Logistics Management Co., Ltd,(SCGL) which is the logistics arm under Siam Cement Group (HOLD: Bt341) will yield positive future synergies in terms of service </li>
<li>The company’s 2H22 earnings is expected to remain stable vs.1H22 The company 3Q22 net profit came out below our and market estimates at Bt112m. (-20%YoY -28%QoQ) QoQ contraction in profit </li>
<li>Revenue hit an all-time high level at Bt1.6bn (17%YoY +15%QoQ) driven by an increase in occupancy rate for automotive yard, general goods and cold storages. Meanwhile, transportation and overseas businesses</li>
</ul>


Merger transaction between JWD and SCG Logistics Management Co., Ltd,(SCGL) which is the logistics arm under Siam Cement Group (HOLD: Bt341) will yield positive future synergies in terms of service 
The company’s 2H22 earnings is expected to remain stable vs.1H22 The company 3Q22 net profit came out below our and market estimates at Bt112m. (-20%YoY -28%QoQ) QoQ contraction in profit 
Revenue hit an all-time high level at Bt1.6bn (17%YoY +15%QoQ) driven by an increase in occupancy rate for automotive yard, general goods and cold storages. Meanwhile, transportation and overseas businesses


JWD : Expect Merger with SCC’s Logistics Arm to Obtain Synergy in 2023

JWD Infologistics

JWD : Expect Merger with SCC’s Logistics Arm to Obtain Synergy in 2023