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Thai Sri Trang sets IPO price at S$1.20 Post Reply Rate topic
limjoeseph Supreme	14-Nov-2020 01:49        limjoeseph About Contact  Quote this Post!
x 0   x 0  Alert Admin	My priveleged Thai informant comments as follows: STGT will continue to raise their Gloves ASP irregardless of vaccine success every quarter until 4th quarter 2021 as they view covid 19 is more contagious than H1N1 which lasted 1 year from Jan 2009 to August 2010.
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limjoeseph Supreme	14-Nov-2020 01:47        limjoeseph About Contact  Quote this Post!
x 0   x 0  Alert Admin	STGT (STGT TB, Buy, TP THB117) ? 3Q20 NP of THB4.4b beat consensus estimate by 31% and ours by 29% STGT?s 3Q20 NP jumped to THB4,402m (+3,465% y-y, +316.5% q-q), beating BBG?s consensus estimate by 31% and our forecast by 29%, driven by a higher average selling price (ASP) to USD36.3 per 1,000 pieces (ptp) (+89% y-y, +73% q-q) thanks to the strong demand growth from COVID-19 2), that more than offset the lower sales volume to 7.14b (+42.8% y-y, -3.2% q-q) due to the shipping logjams mainly in US market and the higher raw material costs of natural rubber (NR) latex (+3.4% y-y, +10.8% q-q) and nitrile butadiene rubber (NBR) (flat y-y, +18.6% q-q), thanks to the rising demand from the automotive industry. Excluding a non-operating gain of THB151m (FX gain of THB139m, other loss of THB108.8m, THB78.6m refund from the Rubber Authority of Thailand (RAOT), and THB42m other expense), core NP jumped to THB4,251m (+4,704% y-y, +300% q-q). STGT?s utilisation rate remained high at 95%. While 3Q20 revenue rose 170% y-y, EBITDA jumped 1,359% y-y, as the EBITDA margin surged to 60.9%, up from 30% in 2Q20 and 11.3% in 3Q19. The gross margin leaped to 60.3%, up sharply from 29.2% in 2Q20 and 10.9% in 3Q19, despite a marginal rise in ASP (+5% y-y, +10% q-q) driven by the rising ASPs. The net margin escalated to 54% in 3Q20, up from 22% in 2Q20, thanks to 32% y-y lower financing costs as STGT repaid THB2.1b at end-2Q20. We project STGT?s NP to continue growing in 4Q20-2021, driven by 1) higher ASPs from USD36.3ptp in 3Q20 to USD40ptp in 4Q20, and USD35-45ptp in 2021, more than offsetting our projected 32-54% y-y higher rubber costs in 2021 2) a full backlog for NR gloves to 4Q21 and NBR gloves to 4Q22 with higher ASPs and a utilisation rate of 95%. STGT?s THB4.84b outstanding debt has a low 3% interest rate due to a subsidy from RAOT with low D/E of 1.63 at end-3Q20. #FSSIA
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Ligaya Master	14-Nov-2020 01:43        Ligaya About Contact  Quote this Post!
x 0   x 0  Alert Admin	Last round the earnings was not fully dissected because rubber pricing and rubber earnings impacted by covid lockdown (China was shut), gloves ASP was not fully priced-in and STGT was in ipo consolidation mode (71% increase QoQ this round) Depending how market is interpreting the vaccine sentiment versus rubber, this round is different...dyodd   stanleytay      ( Date: 14-Nov-2020 00:54) Posted: Last round open up then all the way down.. it should be the same this time alvinlsm      ( Date: 14-Nov-2020 00:43) Posted: Next week if this counter never surge , really speechless .
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kennyzeng21 Member	14-Nov-2020 01:39        kennyzeng21 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Last round RSI was close to 60 and the week before surge to 1.4x. this time round RSI now is below 40 indicating oversold and price plunged because of the overreaction of the vacinne news. And with a clearer picture of their very strong earnings last Q and next Q (mind u their rubber potential haven' t even peak yet) and giving out dividends and STGT will be part of MSCI. I really dunno la. I dun mind putting my money in such company rather than SIA.  stanleytay      ( Date: 14-Nov-2020 00:54) Posted: Last round open up then all the way down.. it should be the same this time alvinlsm      ( Date: 14-Nov-2020 00:43) Posted: Next week if this counter never surge , really speechless .
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stanleytay Master	14-Nov-2020 00:54        stanleytay About Contact  Quote this Post!
x 0   x 0  Alert Admin	Last round open up then all the way down.. it should be the same this time alvinlsm      ( Date: 14-Nov-2020 00:43) Posted: Next week if this counter never surge , really speechless .
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alvinlsm Veteran	14-Nov-2020 00:43        alvinlsm About Contact  Quote this Post!
x 0   x 0  Alert Admin	Next week if this counter never surge , really speechless .
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Ligaya Master	13-Nov-2020 23:52        Ligaya About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes,  the flexibility    and they managed very well on the Q2 lockdown impact on rubber demand and accounts receivables on NRV of 633.9m baht to Q4, so rubber is the added spice for Q4. Rubber expansionary mode began 2017 and going forward the rubber hedge is promising.  https://www.set.or.th/dat/mds_news/news/0254NWS131120201916240231E.pdf Meanwhile STA is not pure gloves (51% NR & 49% gloves) and yet glove is on expansionary mode.  Gloves extracts: STGT intends to achieve an annual production capacity of 50 billion pieces by 2022, and 80 billion pieces by 2024, with new capacity first coming from the new Surat Thani plants (SR)&ndash SR2 in 1Q21 and SR3 in 2Q21.  Rubber extracts: In 4Q20, NR prices are expected to continue their upward trajectory, driven by a pickup in demand for TSR and RSS from tire manufacturers and the continued strong demand for LTX from glove producers. The flooding in Vietnam, the world&rsquo s third largest NR producer, and the start of the wintering season in Indonesia, the world&rsquo s second largest NR producer, could curtail supply. But the impact may not be severe as  Thailand will be entering peak production period, which lasts from November until February of every year.  EBITDA margin is 32.2% QoQ 6.5% Major export market > 52.1% to a V-shaped recovering China Among the RCEP group Thailand has been aggressively chasing the RCEP.  India is not comfortable with RCEP to protect their farmers. China is a well known dumping adversary of wary trade partners. There is great potential for Malaysia and Thai rubber and between the two, the Thais has more resources to  dump!    Refer to the old news:  https://www.nationthailand.com/news/30376116 Q3 results we know, Q4 as Joseph mentioned...long term uptrend. If not for Pifzer releasing vaccine news before STA earnings disrupting sentiments, there could be probable buy on news.  Next few weeks Moderna and Astrazeneca are expected to release their findings on the vaccines while Pifzer is looking to FDA approval. So hopefully STA is  well hedged  to rubber thru current market sentiment on vaccines because the glove inventories are well positioned for mass innnoculations  as well as continuity of vaccination programs.  Rubber is also well positioned. yoyo123      ( Date: 13-Nov-2020 22:52) Posted: having the flexibility to prioritize profit margin between Glove and NR based on their selective selling strategy !
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yoyo123 Member	13-Nov-2020 22:52        yoyo123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	having the flexibility to prioritize profit margin between Glove and NR based on their selective selling strategy !
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Battle123 Elite	13-Nov-2020 22:31        Battle123 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Chiong ah
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yoyo123 Member	13-Nov-2020 22:14        yoyo123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	is it this as shown in SGX: https://links.sgx.com/1.0.0/corporate-announcements/J88IW9BADA74D6PO/f880a3b220c678a26a536221e26e9f9b789c881cb4baf361cbd6d5d4c1a3a9b2
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limjoeseph Supreme	13-Nov-2020 22:09        limjoeseph About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dividend of 0.50 bahts for STA will be announced accordingly and payout between 7 and 9 december.
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Andrew123 Master	13-Nov-2020 22:08        Andrew123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dividend lesser than your exchange
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FreedomAngelz Veteran	13-Nov-2020 22:01        FreedomAngelz About Contact  Quote this Post!
x 0   x 0  Alert Admin	0.5 Baht means its 0.0223 for dividend. Hmm...if true i`m getting abt $200+ for my 10 lot (10000 shares).
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wisecomment Member	13-Nov-2020 21:55        wisecomment About Contact  Quote this Post!
x 0   x 0  Alert Admin	Net profit supposedly 2718.3million bath, but due to accounting rule is downplayed to 2084.4million. WIll buy more upon opening hours on Monday. Hopefully shortists come and short this stock Monday.  Net profit in 3Q20 was  THB 2,084.4 million,  a significant improvement over  THB 135.1 million in 3Q19  and  THB 1,093.7 million  in  2Q20, or up  1,442.9% YoY and 90.6% QoQ. The improvement in net profit was driven by the record quarterly profit of our glove business and the sufficiently satisfactory performance of our NR operations in the face of market volatility. We also had THB 633.9 million in gains from the net realizable value of inventory that could not be stated in the financial statements. If we were able to record the amount, we would have recorded a net profit of  THB 2,718.3 million. Finance costs also went down 28.4% YoY and 15.8% QoQ to THB 146.2 million following loan prepayment and a lowering interest rate by financial institutions.
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limjoeseph Supreme	13-Nov-2020 21:44        limjoeseph About Contact  Quote this Post!
x 0   x 0  Alert Admin	STA Sing will get to enjoy dividend as well.
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tcctcc Senior	13-Nov-2020 21:42        tcctcc About Contact  Quote this Post!
x 0   x 0  Alert Admin	Is it true got dividend 0.50 Baht ?
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moron101 Supreme	13-Nov-2020 21:36        moron101 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Monday gap up above $1.50 liao. 😀 😀 😀 🙁 🙁 🙁 huat huat
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OngBak Veteran	13-Nov-2020 21:15        OngBak About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oops,paisay. My bad den2328      ( Date: 13-Nov-2020 20:54) Posted: S$93+M. If S$930M will be bigger than Top Glove liao. OngBak      ( Date: 13-Nov-2020 20:48) Posted: Is it 2084m baht = Sgd $930m??
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den2328 Senior	13-Nov-2020 20:54        den2328 About Contact  Quote this Post!
x 0   x 0  Alert Admin	S$93+M. If S$930M will be bigger than Top Glove liao. OngBak      ( Date: 13-Nov-2020 20:48) Posted: Is it 2084m baht = Sgd $930m??? Rh_supersaiyan      ( Date: 13-Nov-2020 20:40) Posted: https://www.set.or.th/dat/mds_news/news/0254NWS131120201916240231E.pdf
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look@bright Elite	13-Nov-2020 20:50        look@bright About Contact  Quote this Post!
x 0   x 0  Alert Admin	congrats
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