BGRIM has adjusted and stands out more than other power plant stocks, remaining a laggard stock or a stock whose price has not increased much compared to the industry, possibly due to recent drops in crude oil prices. This has affected the trend of other commodities like natural gas, which might also experience a downturn.
8.PTTGC – PTT Global Chemical, 11.76% recovery
PTT Global Chemical is a petrochemical company that specialises in synthesizing olefins and aromatics.
Management has indicated that the petrochemical industry had passed its low point as of the second quarter. They believe that from now on, there will be a gradual recovery and anticipate that within 1-2 years, the petrochemical industry will return to normal. They have already seen some price adjustments in certain products. Additionally, cooperation with the Chinese government’s economic stimuli is a positive factor, stimulating the demand for petrochemicals. It is expected that there will be an increased import of petrochemicals from China in the coming year.”
9.GLOBAL – Siam Global House, 11.76% increase
Siam Global House is a one-stop shopping home centre, which offers construction material, home decorative products, tools and equipment used in construction, home improvement, and household and gardening decoration in modern trade warehouse style.
The third quarter saw a 32% decrease in net profit to 525 million baht, compared to the previous year’s 774 million baht, primarily due to reduced sales revenue and increased costs. In the first 9 months of this year, there was a 29% decrease in net profit to 2.1 billion baht.
10. ACE – Absolute Clean Energy, increase of 11.35%
The company is one of the country’s largest producers and distributors of electricity from renewable energy and is the clean energy leader in Thailand. Its main business is holding shares in other companies that generate and distribute electricity and steam including other related businesses both in Thailand and other countries.
ACE reported Q3 revenue of 1.63 billion baht and a net profit of 316.8 million baht, a 0.3% increase from Q2, which was at 315.8 million baht. They are set to launch 6-7 biomass and solar power projects and have achieved a sustainable SET ESG rating of “AA” and a 5-star “Excellent” CGR rating this year.
Despite the encouraging figures, analysts say it remains to be seen if these stocks can sustain their price adjustments from the continuing positive factors.