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>Last week analyst meeting came out in a positive tone. The improving sales volume and rising oil price should aid the earnings momentum in 1Q22 and ahead.We maintain the BUY</li>
<li>Expect 1Q22 earnings to improve both YoY and QoQ on the back of 1) 4% and 2% QoQ growth in sales volume and ASP, respectively. And 2) No significant impairment</li>
<li>Positive 2022 earnings outlook as the sales volume is expected to increase by +12% YoY to 467kBOED, and ASP by 5% to US$46/BOE.</li>
</ul>


Last week analyst meeting came out in a positive tone. The improving sales volume and rising oil price should aid the earnings momentum in 1Q22 and ahead.We maintain the BUY
Expect 1Q22 earnings to improve both YoY and QoQ on the back of 1) 4% and 2% QoQ growth in sales volume and ASP, respectively. And 2) No significant impairment
Positive 2022 earnings outlook as the sales volume is expected to increase by +12% YoY to 467kBOED, and ASP by 5% to US$46/BOE.


PTTEP: Bright 2022 Outlook from Sales Growth & Rising Oil Price

PTT E&P

PTTEP: Bright 2022 Outlook from Sales Growth & Rising Oil Price