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>Despite the challenges in Myanmar. MEGA reported all-time-high level of net profit at Bt659m (+8%YoY, +16%QoQ), higher than our forecast and 19% above BB consensus estimated.</li>
<li>Solid 3Q22 result thanks to solid distribution business Excluding extraordinary items, core profit was at Bt669m (+25%YoY, +23%QoQ). The 9M22 result accounted for 84% of our 2022E.</li>
<li>Mega We Care’s revenue (Branded products business) reach to Bt2bn (flat YoY,+2%QoQ) driven by a recovery in revenue from prescription pharmaceutical products along with rebounding number of patient in hospitals</li>
</ul>


Despite the challenges in Myanmar. MEGA reported all-time-high level of net profit at Bt659m (+8%YoY, +16%QoQ), higher than our forecast and 19% above BB consensus estimated.
Solid 3Q22 result thanks to solid distribution business Excluding extraordinary items, core profit was at Bt669m (+25%YoY, +23%QoQ). The 9M22 result accounted for 84% of our 2022E.
Mega We Care’s revenue (Branded products business) reach to Bt2bn (flat YoY,+2%QoQ) driven by a recovery in revenue from prescription pharmaceutical products along with rebounding number of patient in hospitals


MEGA : 3Q22 Profit Reach to All-Time-High Level

Mega Lifesciences

MEGA : 3Q22 Profit Reach to All-Time-High Level