Thai Stocks in Focus: BAFS, BTS, CPAXT, and More

Several key companies in the Thai stock market have announced updates on their progress and future prospects, attracting investor interest. Bangkok Aviation Fuel Services PCL (BAFS), a major aviation fuel service provider, focuses on fuel supply, pipeline transport, and into-plane refueling services at Suvarnabhumi and Don Mueang International Airports. The company expects its performance to recover in the third quarter of 2026, driven by increased airport traffic and stringent cost management. Growth in EBITDA is anticipated, particularly with the upcoming Chinese National Day period and government tourism stimulus measures. BAFS is also continuing its investments in the clean energy sector. BTS Group Holdings PCL (BTS), a key urban transport infrastructure player, operates with three main pillars: public transit, media advertising on the Bangkok BTS Skytrain network, and property development. The company stands to benefit from the acceleration of the U-Tapao International Airport project and associated tax incentives. Ridership on the Green Line has recovered to approximately 820,000 passengers per day, while revenue for the Pink and Yellow Lines is increasingly covering operating expenses. Although concessions expire in 2029, operation and maintenance contracts extend to 2042, ensuring long-term cash flow. CP Axtra PCL (CPAXT), a leading retail and wholesale operator, has partnered with GGC (a PTTGC subsidiary) to collect and refine used cooking oil for sustainable aviation fuel (SAF) production. This initiative aims to convert food-related waste into higher-value products, supporting Thailand's circular economy and clean energy objectives, despite soft household spending. Delta Paint PCL (DPAINT), a paint manufacturer, is pushing into the property sector and has completed a rights issue to raise capital. Frontline Engineering PCL (FLE), specializing in water infrastructure solutions, is scheduled to list on the MAI stock exchange on September 1st, raising funds through an IPO. GFPT PCL, an integrated poultry group, anticipates an acceleration in poultry export volumes due to increased orders from the EU, UK, and Japan. Lower feed costs and higher selling prices are expected to further boost profit margins. UAC Global PCL (UAC), a distributor of industrial chemicals and equipment, has decided to divest its stake in associate UAPC, exiting the latex business. This move is seen as part of its strategy to strengthen investments in renewable energy and utility projects. Source: ThaiCapitalist