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

Kerry Express Thailand / Equity Bottom-Up

<ul>
<li>We anticipate KEX to continue to incur loss for longer period than we previously expected,but at a lower extent in terms of loss amount.The company report3Q22 net loss at Bt675m</li>
<li>Net loss in 3Q22 reduced by 8% from the worst in 2Q22 KEX report net loss in 3Q22 at Bt675m, the second lowest level since listed in DEC’20 </li>
<li>QoQ improvement backed by efficiency enhancement program mainly on the implementation of last-mile optimisation has trimmed cost of goods sold down by 3% amid 2% drop in revenue.</li>
</ul>


We anticipate KEX to continue to incur loss for longer period than we previously expected,but at a lower extent in terms of loss amount.The company report3Q22 net loss at Bt675m
Net loss in 3Q22 reduced by 8% from the worst in 2Q22 KEX report net loss in 3Q22 at Bt675m, the second lowest level since listed in DEC’20 
QoQ improvement backed by efficiency enhancement program mainly on the implementation of last-mile optimisation has trimmed cost of goods sold down by 3% amid 2% drop in revenue.


KEX : Net Loss in 3Q22 Has Slightly Improved