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>RS reports 3Q22 net profit at Bt82m,the highest level in the past six quarter,which is 46% above market estimate.Impressive earnings resulted mainly supported by solid recovery in multi-platform commerce (MPC)</li>
<li>3Q22 profit recovered from bottom quarter in 2Q22 RS reported 3Q22 net profit at Bt82m (+528%QoQ turnaround from loss of Bt0.3m in 3Q21).YoY and QoQ improvement in earnings mainly supported</li>
<li>However, equity income fell to the lowest level at Bt6m (-81%YoY -38%QoQ) due to weak performance for debt collection business under Chase Asia. (35% holding stake) amid sluggish domestic economy.</li>
</ul>


RS reports 3Q22 net profit at Bt82m,the highest level in the past six quarter,which is 46% above market estimate.Impressive earnings resulted mainly supported by solid recovery in multi-platform commerce (MPC)
3Q22 profit recovered from bottom quarter in 2Q22 RS reported 3Q22 net profit at Bt82m (+528%QoQ turnaround from loss of Bt0.3m in 3Q21).YoY and QoQ improvement in earnings mainly supported
However, equity income fell to the lowest level at Bt6m (-81%YoY -38%QoQ) due to weak performance for debt collection business under Chase Asia. (35% holding stake) amid sluggish domestic economy.


RS : 3Q22 Earnings Show Sign of Positive Recovery

RS PCL

RS : 3Q22 Earnings Show Sign of Positive Recovery