MMM

Today's standout stocks span several key themes. Thai Airways is racing to clear more than 5,600 pieces of unclaimed baggage within 72 hours after 100% of its flights were delayed and it had to cancel a combined 60 flights per day. The airline has brought Airports of Thailand, or AOT, onto its team, while mobilising military personnel and hiring outside contractors at full capacity. Meanwhile, PLANB shares jumped nearly 7% after its board approved subscribing to 46.28% of iCare's capital increase, worth 860 million baht, extending its mobile insurance business in partnership with COM7. Analysts expect the deal to add 200 million baht in recognised profit per year, creating 11-13% upside. They recommend buying with a target price of 8.10 baht, calling it a Top Pick in the sector. MMM has launched mortgage, sale-with-right-of-redemption, and housing loans through its subsidiary Keha Songkhro Capital, aiming to grow its loan portfolio to 700 million baht by 2028 under its Jump+ plan. TASCO confirmed it holds 1.52 million barrels of Venezuelan crude oil inventory, enough to last through the first quarter of 2027, helping lift asphalt output by 10-15%. Brokers recommend buying with a target price of 18.50 baht and expect a 5.9% dividend yield. STECON expects 2026 revenue to exceed its target of 35 billion baht, with brokers forecasting 2027 revenue could reach 50-60 billion baht, driven by data centres, state megaprojects, and its infrastructure investment business.

MMM Capital Public Company Limited, or MMM, is launching a full-scale offensive in the financial business, with Keha Songkhro Capital Company Limited, or HAC, a subsidiary under the MMM Mega Fin Holding group, having begun offering mortgage loans, sale-with-redemption loans, and housing loans in full. Nicha Rojwattana, Chief Executive Officer of MMM, said this business expansion is one of the key strategies under the Jump+ plan, which aims to build on the company's real estate expertise and move into property finance in order to generate recurring income and lay the foundation for long-term growth. HAC will focus on serving customers who have the ability to repay debt but face limited access to funding from financial institutions, such as self-employed workers, investors, and those who hold real estate as collateral. MMM aims to grow its total loan portfolio to 700 million baht by 2028 and expects interest income to become a key component of its revenue structure in the future. Interest rates and returns on lending will comply with the criteria and ceilings set by law.

Stock Focus today rounds up the key points on several stocks. BGRIM is likely to close deals for large IPP gas-fired power plants in Vietnam and Malaysia totalling 3,000 megawatts by late this year to early next year, and is preparing to file for extensions of 22 existing power plant projects with a combined capacity of 3,000 megawatts under the PDP plan, and will open the first phase of its data centre this November. ADVICE said the iPhone 18 is hot, with the iPhone 18 Pro Max fully booked in pre-orders, and handsets will start being delivered this Friday, which will support third-quarter revenue in 2026, while the company maintains its full-year revenue growth target of 15% from a year earlier and aims to reach 29 branches by the end of 2026, up from 22 in the first half. MMM is pressing ahead with new partners to supply the property business, maintaining a stock of 800 units, with a strategy targeting the 4-5 million baht price segment, drawing on its Prukasa subsidiary to help with construction, and is confident fourth-quarter results will peak, targeting full-year growth of 30-40%. KCC has set its sights on 2026, aiming to bring 500 million baht of NPLs into its portfolio and grow at least 30% after raising 450 million baht through debentures, and is studying plans to buy more NPAs. EURO is expanding the luxury market together with SC, opening the luxury villa project The Gentry Cultivar Rama 9 priced at 30-50 million baht. POLY reaffirmed its full-year revenue growth target of 10% after first-half revenue of 628 million baht, with its automotive business rising to a 60% share on continuous orders from Toyota, and has just set up a subsidiary to move into the electrical and electronics business as a new S-curve. MGC is extending its Mobility Ecosystem through its SIXT car rental business, partnering with ROYS HOTEL to provide electric XPENG vehicles to shuttle guests, with ROYS HOTEL spending 300 million baht on a major renovation and aiming to open in 2027. In insurance, the cabinet approved a national catastrophe insurance plan covering 30 million households, with protection against floods, storms, earthquakes and loss of life, starting this October 1. TWPC is set to drive sales growth in its overseas food and sauce business above 10% after acquiring Well-Grow, which began contributing revenue in September, supporting fourth-quarter 2026 results. Brokers recommend buying KLINIQ and MASTER on expectations that second-half profit will accelerate, with KLINIQ having a network of more than 84 branches. SCB EIC reaffirmed that foreign capital remains interested in investing in Thailand and is watching for the government to issue new data centre rules this year. Finansia recommends buying STECON with a target of 22.50 baht, and Globlex recommends WHA with a target of 5.40 baht. SIRI is pushing low-rise sales towards a target of 25 billion baht and will launch Burasiri Well Krungthep Kreetha worth 6 billion baht, priced at 23-40 million baht, during September 19-20. BEM said the Expressway Authority of Thailand is discussing ways to reduce the impact before raising tolls on the Chalong Rat expressway on December 15, with the new rates starting at 80 baht for four-wheel vehicles, 130 baht for six-to-ten-wheel vehicles and 180 baht for vehicles with more than ten wheels. ONEAM will hold a meeting of GROREIT trust unitholders on October 28 to vote on selling the Royal Orchid Sheraton hotel, with three options: having ROH buy it back for 4.873 billion baht, selling it to Orchid Hospitality, which has offered 5.3 billion baht, or holding a general auction. If the sale succeeds, the trust will immediately proceed with liquidation.

MMM Capital Public Company Limited, or MMM, is pressing ahead with selecting new partners to continuously feed real estate projects into its portfolio, while targeting a stock of about 800 units from roughly 30 to 40 projects, with preliminary sales estimated at around 100 units per quarter. Mr. Kawin Anantapattanakul, Chief Accounting and Finance Officer, said the company has adjusted its strategy by shifting its property price base up to an average of 4 to 5 million baht in order to target customers earning 40,000 to 50,000 baht per month, after financial institutions tightened lending to the group earning around 20,000 baht. Beyond its brokerage business, the company is also buying land to develop low-rise condominium projects on its own in two locations, targeting project sizes of no more than 79 units, and has brought in a subsidiary of Pruksa Real Estate as a consultant and turnkey construction contractor. Sales are expected to begin in the second half of next year, which will help push profit margins even higher. The company estimates that second-half sales will account for 55 to 60% of the full year and will peak in the fourth quarter, with average growth over the past three to five years of about 68% and average quarterly profit of 30 to 50 million baht. For this year, it is maintaining its growth target of 40% and is confident that even achieving 30% would still represent strong double-digit growth compared with the overall industry.

MMM, or MMM Capital Public Company Limited, has announced its first collaboration with the Frasers Property group to manage the sales of the KLOS Ratchada 7 condominium project, with a total value of approximately 140 million baht. The project comprises 25 units, and the company aims to close all sales by the end of 2026, with revenue recognition expected to begin from the third quarter of 2026, which will bolster its revenue base in the final stretch of the year. Ms. Nicha Rojwattana, Chief Executive Officer, stated that this collaboration reflects the confidence of a major partner and presents an opportunity to extend cooperation to other projects in the future. The KLOS Ratchada 7 project is located in the heart of Ratchada, a prime business and residential area, catering to both end-users and investors. This partnership aligns with MMM's strategy to expand its partner base to include major real estate developers for long-term growth.

MMM Capital Public Company Limited (MMM) has announced that it has been assigned by Bless Asset Group Public Company Limited (BLESS) to manage sales with purchase collateral for the "Bless City Park Wongwaen - Lam Luk Ka" project, Phase 3, comprising 23 units with a total project value of 80.5 million baht. This project is part of the ongoing collaboration between MMM and BLESS, following MMM's success in managing sales for previous projects and achieving sales targets. The company aims to close sales for all 23 houses by the end of 2026, which will allow revenue to be recognized gradually from the third quarter of 2026 and boost performance in the second half of the year to grow in line with targets. The project's strengths include its location, approximately 100 meters from the outbound Lam Luk Ka main road, and connectivity to Khlong 6 Road and Rangsit-Nakhon Nayok Road, under the Modern Life concept that emphasizes efficient use of space and natural light. MMM continues to seek opportunities to manage sales for new projects to expand its revenue base and support sustainable growth.

SUPER is pushing full speed ahead with business expansion, preparing to COD an additional 102 megawatts of wind power capacity in Vietnam. This brings the total capacity of the two wind power projects under PPA to 129 megawatts. Meanwhile, the outstanding electricity payments from EVN, amounting to 3.5 billion baht, are becoming clearer, which will help bolster liquidity. The company is confident in its strong financial structure and is moving forward with reducing its D/E ratio to 1.94 times, targeting operational results in 2026 to grow as planned. As for SSP, its capital base is solid after closing the deal to sell its Japanese power plant for nearly 1 billion baht, and it will recognize the special gain in Q3/69 immediately. It is also preparing to gradually COD additional power plants totaling over 420 megawatts through 2030. Meanwhile, MMM is making an aggressive move by securing new work from BLESS under the Bless City Park project, Wongwaen-Lam Luk Ka Phase 3, for 23 units, valued at 80.5 million baht. The sale is expected to close by the end of 2026, with revenue recognition starting in Q4/69.

MMM Capital Public Company Limited, or MMM, is preparing to list its second series of warrants to purchase ordinary shares, MMM-W2, on the Stock Exchange of Thailand on 18 August. The move aims to strengthen the company's capital base and increase financial flexibility for its near-term business expansion plans. Chief Executive Officer Nisha Rojanawattana said the company has a financial structure management strategy to prepare for the establishment of a fully integrated property finance ecosystem, which will combine its existing expertise with new opportunities in the capital and real estate markets. This is intended to generate stable income from both core and new businesses sustainably over the long term.

MMM Capital Public Company Limited, or MMM, is moving forward with restructuring its business into a full-scale Property Finance operation, aiming to expand lending services related to the real estate business across the entire value chain in order to create a new S-curve and increase opportunities for long-term revenue and profit growth. A review of the shareholder register following the announcement of second-quarter 2026 results found that KGI, which previously held 12.96 million MMM shares and had been the second-largest shareholder after a private placement in late 2025, no longer appears on the latest list of major shareholders, reflecting a change in the shareholder structure after the execution of the earlier plan. Ms. Nicha Rojanawatana, Chief Executive Officer of MMM, is driving the company's transformation plan into Property Finance, with an emphasis on expanding the real estate lending business to build a new revenue base and extend the company's growth potential. At the same time, second-quarter 2026 operating results continued to grow, in line with the expansion of the business, while the board of directors approved an interim dividend payment of 0.06 baht per share, reflecting the company's ability to generate returns for shareholders while continuing to invest for business expansion. Looking ahead, MMM will focus on strengthening its real estate lending business, enhancing its capital base, and developing financial products that meet the needs of real estate operators, in order to make Property Finance one of the key engines of future growth.

MMM Capital Public Company Limited, or MMM, has unveiled its plan for the second half of 2026, preparing to expand its lending business through Kheha Songkro Capital. It will begin disbursing loans in the third quarter of 2026, targeting a total loan portfolio of 50 to 80 million baht by the end of 2026, with a focus on matching borrowers with high-net-worth investors to increase the proportion of recurring income and reduce reliance on the sales business. For the second quarter of 2026, the company posted a net profit of 37.52 million baht, up 19.60 percent from the same period last year, and revenue from sales and services of 239.96 million baht, up 30.14 percent from the same period last year, driven mainly by sales growth in the project sales management business unit. For 2026, the company aims to maintain a high dividend payout ratio close to the previous level of about 70 percent, and targets becoming a fully integrated end-to-end property and finance solution provider by 2028.

MMM Capital Public Company Limited, or MMM, has announced a major business transition into a full-service Property Finance provider, combining its real estate sales expertise with mortgage lending services to create a new growth ecosystem that generates recurring interest income, reduces revenue volatility, and strengthens long-term financial stability. Chief Executive Officer Nisha Rojwattana revealed that this strategy will transform earnings into a stable and rapidly growing stream. Meanwhile, following the latest shareholder register closing, GENCO, or Environmental Conservation Management and Development Public Company Limited, has become MMM's second-largest shareholder, underscoring confidence in the business potential. At the same time, KGI Securities Thailand Public Company Limited, or KGI, has dropped out of the top ten, a normal adjustment after the end of the capital increase offering period.

MMM Capital Public Company Limited, or MMM, reported second-quarter 2026 net profit of 37.52 million baht, up 19.59% from the same period last year, with total sales and service revenue of 239.96 million baht, an increase of 30.14%. The company also announced a dividend payment of 0.06 baht per share, totaling over 21.78 million baht, marking the 10th consecutive quarter of dividend payments. The record date for shareholders entitled to receive the dividend is set for August 14, with the XD date on August 13, and the dividend will be paid on August 28, 2026. For the first six months of 2026, the company posted total revenue of 446.14 million baht, up 31.45%, and net profit of 70.06 million baht, up 10.68% from the same period last year, supported by business expansion in the BU2 group and the Pre-AMC model, which helped maintain high profit margins. The company expects the real estate market to recover in the second half of the year, driven by government stimulus measures.

MMM Capital reported a second-quarter net profit of 37.52 million baht, up 19.59 percent from the same period last year, with sales and service revenue totaling 239.96 million baht, an increase of 30.14 percent. This brought first-half net profit to 70.06 million baht, up 10.68 percent, driven by new business expansion and a Pre-AMC model focused on asset-light agility. The board approved an interim dividend of 0.06 baht per share, totaling over 21.78 million baht. The record date for shareholders entitled to the dividend is August 14, with the XD date on August 13, and payment on August 28, 2026.

MMM Capital Public Company Limited, or MMM, has signed a cooperation agreement with Bless Asset Group Public Company Limited, or BLESS, to manage sales with a purchase guarantee for a twin-home project in the Lam Luk Ka zone, with a project value of 51 million baht. MMM will oversee the sales management of nine twin homes, which are part of the project. Mr. Suriya Wongsitthichaiyakul, Chief Business Development Officer of MMM, revealed that this collaboration will help boost cash flow and performance in the third quarter of 2026 for significant growth, while highlighting expertise in customer screening to reduce the risk of loan rejection in the twin-home segment, which has a relatively high rejection rate.

MMM Capital Public Company Limited, or MMM, is preparing to collaborate with a new major real estate developer to manage sales for a project in Bangkok in the third quarter of 2026. The first phase will have no more than 30 units, but it is a project with high profit per unit and will pave the way for selling other projects under the same group in the future. Meanwhile, the company plans to start a lending business in the third quarter to enhance its end-to-end services, proceeding gradually. Additionally, MMM continues to expand its product portfolio into low-rise projects. It recently signed a memorandum of understanding with Asset Group to sell approximately 400 low-rise homes worth over one billion baht, and has partnerships with Khunnalai in the Bang Bua Thong and Rangsit zones, as well as ongoing sales of projects to LPN. Mr. Kawin Anantapattanakul, Chief Accounting and Financial Officer, revealed that overall business in the first half of the year is growing as planned, and he expects second-half performance to be stronger than the first half, in line with the normal revenue split where the second half accounts for 60%.