MINT : Concern over Surging Utility Price in EU Has Priced In’’

MINT : Limited Downside from Recession in Europe

MINT : 3Q22 Earnings Beat Our and Consensus Estimates

MINT : Expect to Post Profit for the First Time Since Pandemic Began

MINT: Hotel Segment’s Recovery Will Boost 2022 Growth

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

<ul>
<li>The company post net profit for the first time since pandemic began at Bt1.6bn in 2Q22 (vs. 3.8bn loss in 1Q22).The result came out above our expectations. Impressive result supported </li>
<li>Impressive recovery in hospitality business. Hotel revenue hit 12-quarter high at Bt25bn,thanks to NH Hotel Group (NHH) performance that posted record high of revenue at Є506m in 2Q22after its occupancy </li>
<li>Food revenue was at Bt6.3bn (+21%YoY-1%QoQ) backed by continuing solid SSSG at 7.8% compared with 4.2% and 6.1% in 2Q21 and 1Q22 respectively. This thanks to an increase in traffic </li>
</ul>


The company post net profit for the first time since pandemic began at Bt1.6bn in 2Q22 (vs. 3.8bn loss in 1Q22).The result came out above our expectations. Impressive result supported 
Impressive recovery in hospitality business. Hotel revenue hit 12-quarter high at Bt25bn,thanks to NH Hotel Group (NHH) performance that posted record high of revenue at Є506m in 2Q22after its occupancy 
Food revenue was at Bt6.3bn (+21%YoY-1%QoQ) backed by continuing solid SSSG at 7.8% compared with 4.2% and 6.1% in 2Q21 and 1Q22 respectively. This thanks to an increase in traffic 


MINT : Continue to Deliver Solid Earnings in 2H22

Minor International

MINT : Continue to Deliver Solid Earnings in 2H22