Insights on Singapore Depository Receipt (SDR)
Title: Webinar - Insights on Singapore Depository Receipt (SDR)
Date: 24 Nov 2023, Friday
Time: 7:00pm to 8:15pm
Synopsis
Please join us as our Research Analyst shares their insights into the underlying companies of the current Singapore Depository Receipt (SDR) listed on the Singapore Stock Exchange (SGX).
AOT
AOT is the operator of Thailand’s six international airports, namely Suvarnabhumi, Don Mueang, Chiang Mai, Mae Fah Luang-Chiang Rai, Phuket and Hat Yai. All 6 serve both domestic and international flights with Suvarnabhumi designated as the country's main airport. AOT’s bottom line turned into red during the past two years on COVID-19 travel restrictions. Looking forward, we expect AOT’s earnings to turn from heavy losses to a net profit of Bt11.5bn in FY23F before surging 153% to Bt29.1bn in FY24F, exceeding the pre-pandemic level. Growth should be supported by the bounce in tourist arrivals and the end of assistant measures to airlines operators and concessionaires.
CPALL
CPALL is the leading operator of convenience store chains (7-Eleven) in Thailand that has the highest market share with total stores of c.14,000 nationwide. The company also has rights to operate 7-Eleven stores in Cambodia and Laos. Additionally, it operates other related businesses such as a bill payment service, the manufacturing and sales of ready to eat foods, bakeries, etc. The company also invests in Thailand’s leading wholesale business under “Makro” brand and retail business under “Lotus’s”.
PTTEP
PTT Exploration and Production (PTTEP TB) was founded on 20 June 1985 as the upstream arm of the Petroleum Authority of Thailand. PTTEP’s main business is to explore and produce petroleum and related products – mainly natural gas, crude oil, and condensate – in Thailand and other countries. Its key focus areas are in Southeast Asia and the Middle East such as Myanmar, Malaysia, and Oman. It was listed on the Stock Exchange of Thailand (SET) in 1993. Currently, PTTEP is the only listed exploration and production (E&P) player in Thailand and one of the largest companies in the country’s stock exchange.
We expect oil prices to trend down in 2023 amid global economic uncertainty. However, OPEC has projected global oil demand to grow by c.2.25mbd (+2.3% y-o-y) in 2023. This will be supported by demand recovery after easing travel restriction globally and a resolution of the geopolitical conflict in Eastern Europe.
Speakers Profile:
Chanpen: Chanpen has over 30 years of experience in the industry covering various sectors from large to small caps. Apart from being Head of Research and Strategist, she currently covers Property/REIT, Electronics, Technology, and small cap sectors. Her strength lies on stock picking and finding hidden gems. Chanpen’s stock picks have consistently outperformed the market over the past years.
Leena: Leena joined DBS since late 2018. She has over 8 years of experience as an equity analyst covering several sectors. Her initial coverage at DBS was residential property sector and extended to consumer sector, and small caps sector.
Duladeth Bik: Duladeth has joined DBS Vickers Securities (Thailand) since May 2019. He has more than 12 years of working experience as an equity analysis in Thailand oil and gas sector. He is also a charter holder of CFA, FRM, and CAIA designation.
Webinar link will be sent to all participants via email before the event.
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