SCC: Expect a Soft Start in 1Q22 Amid Cost Pressure

SCC: SCGC’s Spin-Off Moves a Step Closer

SCC : Meaningful QoQ Recovery Expected in 2Q22

SCC : Expected Strong 2Q21E but Would Lose Momentum in 3Q21E

SCC: CBM & Packaging Are White Knights to Drive 2022 Earnings

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 rating, with a TP of Bt445, based on 10.6xPE’22E,which is Asia ex-Japan Materials Sector. The recent SCGC spin-off deal provides a catalyst path for sweet entry to accumulate</li>
<li>Unlock value potential through the SCGC spin-off, growth prospects from Vietnam &amp; Indonesia, Vinyl, green polymer, and capture new megatrends.</li>
<li>Uphold positive on 22E outlook, upon demand recovery for both CBM and packaging units post-lockdown, along with higher chemical prices.</li>
</ul>


Maintain BUY rating, with a TP of Bt445, based on 10.6xPE’22E,which is Asia ex-Japan Materials Sector. The recent SCGC spin-off deal provides a catalyst path for sweet entry to accumulate
Unlock value potential through the SCGC spin-off, growth prospects from Vietnam &amp; Indonesia, Vinyl, green polymer, and capture new megatrends.
Uphold positive on 22E outlook, upon demand recovery for both CBM and packaging units post-lockdown, along with higher chemical prices.


SCC: IPO of SCGC Will Unlock Potential Growth

Siam Cement

SCC: IPO of SCGC Will Unlock Potential Growth