The Week That Was in ASEAN@Smartkarma - Metrodata Electronics, JCNC's Discount, and SCB in Thailand

SCB: More Challenging Ahead from New Regulations

SCB: Recovery Slowdown on a Rise in Economic Uncertainty

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>Maintain BUY for SCB with a target price of Bt139.00. SCB’s 2Q22 net profit came in line with our expectation of Bt10bn (+14% YoY, -1% QoQ). Asset quality remained resilient </li>
<li>Analyst meeting We are neutral after attending the analyst meeting on 21 July. SCB adjusted some2022 financial guidance to reflect its 1H22 performance and potential effects on the economic environment.</li>
<li>Despite the volatility in the cryptocurrency market,SCB would continue to pursue its business expansion in digital asset businesses.  SCB mentioned that it had minimal cryptocurrency exposure of less than US$1m.</li>
</ul>


Maintain BUY for SCB with a target price of Bt139.00. SCB’s 2Q22 net profit came in line with our expectation of Bt10bn (+14% YoY, -1% QoQ). Asset quality remained resilient 
Analyst meeting We are neutral after attending the analyst meeting on 21 July. SCB adjusted some2022 financial guidance to reflect its 1H22 performance and potential effects on the economic environment.
Despite the volatility in the cryptocurrency market,SCB would continue to pursue its business expansion in digital asset businesses.  SCB mentioned that it had minimal cryptocurrency exposure of less than US$1m.


SCB : Recovery Amidst Rising Global Risks

Siam Commercial Bank

SCB : Recovery Amidst Rising Global Risks