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>VGI reports Bt68m net profit in FY2Q23(July’22-Sept’22).Stripping out extra items mainly from sales of investment,loss from core operation would be at Bt147m,the most disappointed loss in the past six quarters.</li>
<li>Disappointed earnings result in 2QFY23 Six-quarter high of VGI’s loss pressured by;1.) a spike in operating costs from digital service segment mainly from an insurance arm under ‘Rabbit Care’ together</li>
<li>Revenue hit eleven quarter high at Bt1.2bn (+33%YoY +18%QoQ), underpinned by revenue from digital service that hit all-time high at Bt381m. (+47%QoQ +40%YoY) mostly from insurance commission</li>
</ul>


VGI reports Bt68m net profit in FY2Q23(July’22-Sept’22).Stripping out extra items mainly from sales of investment,loss from core operation would be at Bt147m,the most disappointed loss in the past six quarters.
Disappointed earnings result in 2QFY23 Six-quarter high of VGI’s loss pressured by;1.) a spike in operating costs from digital service segment mainly from an insurance arm under ‘Rabbit Care’ together
Revenue hit eleven quarter high at Bt1.2bn (+33%YoY +18%QoQ), underpinned by revenue from digital service that hit all-time high at Bt381m. (+47%QoQ +40%YoY) mostly from insurance commission


VGI : On Slow Recovery Pace Relative to Peers at Demanding Valuation

VGI PCL

VGI : On Slow Recovery Pace Relative to Peers at Demanding Valuation