Key Indices
Top Stories
Sector Update | Oil and Gas
- The petrochemical industry continues to face volatility and is entering an “overcapacity & margin compression” environment. However, the planned ethane import projects by Thailand’s major olefins producers, PTTGC and SCGC, together with their potential JV in the polyolefins business, provide a clear pathway to enhance competitiveness and improve the resilience of the petrochemical industry. Maintain MARKET WEIGHT. Our top picks are PTTGC and SCC.
Company Update | Bangkok Chain Hospital (BCH TB/BUY/Bt11.40/Target: Bt13.00)
- BCH’s analyst meeting had a positive tone, with the 3Q26 outlook supported by a strong Jul 26 performance, driven by Thai patient numbers growth during the epidemic. The KIH Ubon acquisition for up to Bt490m should strengthen BCH’s network and offer margin improvement opportunities. Middle East patient revenue remains strong, driven by higher-complexity treatments, while a potential 10% increase in SSO capitation fees provides further upside. Maintain BUY with a Bt13.00 target price, supported by multiple catalysts in 3Q26.
Top Stories
Sector Update | Oil and Gas
- The petrochemical industry continues to face volatility and is entering an “overcapacity & margin compression” environment. However, the planned ethane import projects by Thailand’s major olefins producers, PTTGC and SCGC, together with their potential JV in the polyolefins business, provide a clear pathway to enhance competitiveness and improve the resilience of the petrochemical industry. Maintain MARKET WEIGHT. Our top picks are PTTGC and SCC.
Company Update | Bangkok Chain Hospital (BCH TB/BUY/Bt11.40/Target: Bt13.00)
- BCH’s analyst meeting had a positive tone, with the 3Q26 outlook supported by a strong Jul 26 performance, driven by Thai patient numbers growth during the epidemic. The KIH Ubon acquisition for up to Bt490m should strengthen BCH’s network and offer margin improvement opportunities. Middle East patient revenue remains strong, driven by higher-complexity treatments, while a potential 10% increase in SSO capitation fees provides further upside. Maintain BUY with a Bt13.00 target price, supported by multiple catalysts in 3Q26.
Key Indices
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