Globlex Holding Management Public Company Limited is an investment holding company engaged in securities, investment, and financial advisory businesses in Thailand. It operates through three segments: Holding Business, Securities Business, and Other Business. Its services include securities and derivatives brokerage, underwriting and fund arrangement, and financial advisory. The company was founded in 2003 and is based in Bangkok, Thailand.
PLANB jumps 6% as Globlex recommends buying after 860 million baht iCare investment
PLANB shares rose 5.56% to 7.60 baht on trading value of 249.79 million baht after Globlex Securities issued a "buy" recommendation following a deal to subscribe to new shares in iCare, an insurance business under the COM7 umbrella, worth 860 million baht. The transaction will give PLANB a 46.28% stake in iCare, funded entirely with borrowed money. The deal still requires approval from the COM7 shareholders' meeting on November 6, 2026, the iCare shareholders' meeting on November 9, 2026, and the Office of the Insurance Commission, with completion expected by the end of 2026. Globlex expects PLANB to recognize a profit share from iCare of about 211 million baht in 2027, or a return of roughly 25% against the 860 million baht investment, while borrowing costs stand at about 3.5% per year. Globlex also raised its 2027 net profit forecast by 7.2% to 1.836 billion baht and its 2028 forecast by 7.5% to 2.027 billion baht.
PLANB.BK · Capital · Positive PLANB will subscribe to 860 million baht of new iCare shares for a 46.28% stake, with Globlex expecting ~211 million baht profit share in 2027.
GBX.BK · Capital · Positive Globlex issued a buy recommendation on PLANB and raised its 2027/2028 net profit forecasts after the iCare deal.
COM7.BK · Regulation · Neutral iCare deal requires approval from COM7 shareholders' meeting; COM7 is only the umbrella parent of iCare, not the deal's subject.
Globlex rates MGT a Buy with 2.70 baht target, flags 6% dividend yield and M&A upside
Globlex Securities, or GBS, has issued an analysis recommending a Buy on shares of Mega Chem (Thailand) Public Company Limited, or MGT, with a fair value for 2027 set at 2.70 baht, expecting a dividend yield of around 6% per year. The call follows MGT's report of second-quarter 2026 operating revenue of 346.5 million baht, up 7.7% from the previous quarter and 17.7% from the same period a year earlier. The gross profit margin came in at 32.1%, close to 31.5% in the same period last year but down from 33.1% in the first quarter of 2026, due to higher imported chemical costs. As a result, net profit for the second quarter of 2026 stood at 36.9 million baht, up 20.8% from the previous quarter and 59.9% from the same period a year earlier. First-half 2026 net profit was 67.4 million baht, representing 66.4% of the full-year estimate. The research team maintained its net profit forecasts for 2026 and 2027 at 101.4 million baht and 106.5 million baht, growing 1.3% and 4.9% respectively, and noted that MGT continues to expand its specialty chemicals portfolio, targeting high-margin businesses such as Lifestyle Biotech, Health and Personal Care, and Food Ingredients, while seeking M&A or joint venture opportunities with new partners to support long-term growth.
MGT.BK · Capital · Positive Globlex rates MGT a Buy with 2.70 baht target, citing Q2 2026 net profit up 59.9% YoY, ~6% dividend yield, and M&A upside.
MGT.BK · Demand · Positive MGT continues expanding its specialty chemicals portfolio into high-margin Lifestyle Biotech, Health and Personal Care, and Food Ingredients segments.
GBX.BK · Capital · Positive Globlex Securities issued a Buy rating on MGT with a 2.70 baht fair value, a positive analyst valuation call for its own research business.
Brokers expect OR's second-half profit to outpace first half on oil stock gains and high season
Analysts expect PTT Oil and Retail Business Public Company Limited, or OR, to post a recovery in the third quarter of 2026, driven by stock gains as global oil prices rise to around 90 to 100 US dollars per barrel, together with marketing margins that hold steady or improve compared with the second quarter of 2026. Sirilak Phinthusunthorn, an investment analyst covering fundamental factors in securities at Globlex Securities, said the oil business remains the core, accounting for roughly 50 to 60 percent of EBITDA, while the lifestyle business accounts for about 30 to 40 percent of EBITDA. The lifestyle business is supported by consistently growing sales at Cafe Amazon coffee shops, which are expected to rise by an average of about 3 percent in the fourth quarter of 2026, the high season for the oil business thanks to the Christmas holiday and the turn of the new year. Analysts at Bualuang Securities Public Company Limited assess that the second quarter of 2026 marked the low point of the year and expect profit in the second six months to be clearly stronger than in the first six months. They also highlight the company's strong financial position, which supports a dividend yield of 4.0 to 5.0 percent, and set a fundamental target price of 14 baht, while Globlex gives a fundamental target price of 17.30 baht per share.
OR.BK · Capital · Positive Brokers expect OR's second-half profit to outpace the first half, with target prices of 14-17.30 baht and a 4-5% dividend yield.
GBX.BK · Capital · Positive Globlex analyst expects OR's H2 profit recovery and sets a 17.30 baht target price, a bullish analyst call for the brokerage's coverage.
BBL Asset Management Company Limited (Bualuang Asset Management) · Capital · Positive Bualuang Securities assesses Q2 2026 as the year's low point and expects clearly stronger H2 profit for OR, with a 14 baht target price.
PUEAN files with SEC to issue 200 million baht in secured debentures at 6.90-7.15% interest
Puean Tae Capital, or PUEAN, is preparing to offer up to 200 million baht in secured debentures with a 4-year term and a fixed interest rate of 6.90-7.15% per year to institutional and high-net-worth investors. The company has already filed its registration statement with the Securities and Exchange Commission, or SEC. The offering is expected to take place on October 22 and October 26-27, 2026, with the debentures to be issued on October 28, 2026. This series of debentures is secured by business collateral in the form of claims against loan debtors, with the collateral value not less than 1.15 times the total value of the debentures issued and offered. The proceeds will be used as working capital to support the expansion of its loan portfolio, with a portion used to repay the existing debenture series PUEAN277A. On operating results, in 2025 the company had total revenue of 201.58 million baht and net profit of 27.57 million baht. In the first six months of 2026, it had total revenue of 103.66 million baht, up 8.22% from the same period a year earlier, and net profit of 12.03 million baht. It had loan debtors totaling 811.27 million baht, maintained a low NPL level of 4.89%, and saw its interest-bearing debt-to-equity ratio fall to 2.12 times, with a network of 26 branches nationwide. Dao (Thailand) Securities is the lead underwriter, together with Globlex Securities, Pi Securities, Merchants Partners Securities, and Trinity Securities. Bangkok Bank is the debenture registrar, and Globlex Securities is the debenture holders' representative.
เพื่อนแท้ แคปปิตอล · Capital · Positive PUEAN filed with the SEC to issue up to 200 million baht in secured debentures, raising working capital to expand its loan portfolio and repay existing debt.
GBX.BK · · Neutral Globlex is lead co-underwriter and debenture holders' representative; role mentioned but no financial impact quantified.
DAOL Securities (Thailand) Public Company Limited · · Neutral Dao (Thailand) Securities is lead underwriter for the debenture offering; role noted but no impact quantified.
Globlex Securities launches Quanto KIKO as new flagship, aiming to push AUM past 20 billion baht
Globlex Securities has announced a major strategic shift into the Hybrid Investment era, introducing Quanto KIKO as its new flagship product to penetrate the High Net Worth client base, with a target to drive assets under management past 20 billion baht this year. Chief Executive Officer Thanaphisan Kuhapremkit revealed that the company is leveraging AI and Big Data to enhance portfolio analysis and management, while launching Quanto KIKO, which allows Thai investors to invest in foreign stocks in baht with full exchange rate risk hedging. Additionally, the firm is deploying a Core-Satellite portfolio strategy through mutual funds, private funds, and structured notes to generate consistent returns, particularly six-month structured notes with monthly interest payments for High Net Worth clients. In the long term, the company plans to develop a Digital Wealth Platform to elevate investment advisory services and build sustainable wealth.
Digital Finance & Tokenization › Digital Wealth & Robo-Advisory Technology
GBX.BK · Capital · Positive Globlex Securities launches new flagship product Quanto KIKO and targets AUM growth past 20 billion baht, a strategic shift that is positive for the parent company.
Thailand