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Thai Companies Show Strong Performance, Stock Prices Rise Driven by Energy, Telecom, and Construction Sectors
Major Thai companies, particularly in the energy, telecommunications, and construction-related sectors, have reported strong performance in the first half of 2026, driving stock prices higher. Bangkok Commercial Asset Management (BAM) is noted for its debt restructuring program, Banpu (BANPU) for its business integration, Global House (GLOBAL) for profit growth, SCG Chemicals (SCGC) for its circular economy contributions, Tirathai (TRT) for increased demand in power infrastructure, and True (TRUE) for strengthening its position in the telecommunications market.
BAM.BK — Bangkok Commercial Asset Management PCL Thailand’s leading specialized asset management company focused on non-performing loans (NPLs) and non-performing assets (NPAs), primarily real-estate secured, with nationwide recovery and asset management operations. YTD 2026: ▼ 1.4% Start (30 Dec 2025): 7.00 THB → End (3 Aug 2026): 6.90 THB BAM: Expects a stronger 2H26 on improved cash collections after launching a debt restructuring programme offering principal reductions of up to 30% and 0% instalment plans for up to three years. BANPU.BK — Banpu Public Company Limited Integrated energy group with core coal mining operations across Asia-Pacific, power generation (including Banpu Power), and growing renewable energy and energy-technology businesses. Recent amalgamation with Banpu Power completed. YTD 2026: ▲ 18.6% Start (30 Dec 2025): 12.90 THB → End (3 Aug 2026): 15.30 THB BANPU: Shares of the new Banpu Plc entity, following the amalgamation with Banpu Power (BPP), began trading today. GLOBAL.BK — Siam Global House PCL Leading home-improvement retailer operating large-format stores selling construction materials, home décor, tools, and lifestyle products across Thailand, with strong presence in provincial markets. YTD 2026: ▲ 26.0% Start (30 Dec 2025): 6.35 THB → End (3 Aug 2026): 8.00 THB GLOBAL: Reported 2Q26 net profit of THB955mn (+83.6% YoY), ahead of the THB683mn consensus, driven by a strong 31.6% gross margin, effective cost control, improved product mix and lower finance costs. SCGC.BK — SCG Chemicals PCL Major petrochemical producer under the SCG Group, manufacturing olefins, polyolefins, vinyl products and specialty chemicals for domestic and export markets across ASEAN and beyond. YTD 2026: ▲ 8.6% Start (30 Dec 2025): 26.25 THB → End (3 Aug 2026): 28.50 THB SCGC: Partnered with CPPC to launch food-grade recycled PET packaging, supporting Thailand’s circular economy initiative. TRT.BK — Tirathai Public Company Limited Manufacturer and service provider of power transformers and related electrical equipment, serving utilities, industrial customers and infrastructure projects in Thailand and selected export markets. YTD 2026: ▲ 312% Start (30 Dec 2025): 3.69 THB → End (3 Aug 2026): 15.20 THB TRT: Reported 2Q26 net profit of THB127mn (+271% YoY), supported by 19.4% YoY transformer sales growth, 12.9% YoY service revenue growth and strong margins. Declared an interim dividend of THB0.17/share (XD: 14 Aug). TRUE.BK — True Corporation PCL Thailand’s largest integrated telecommunications operator providing mobile, fixed broadband, digital TV and related digital services following the True-dtac merger, with extensive nationwide network coverage. YTD 2026: ▲ 15.0% Start (30 Dec 2025): 12.00 THB → End (3 Aug 2026): 13.80 THB TRUE: Bloomberg Intelligence noted that a potential sale of China Mobile’s 7.8% stake would have minimal impact on TRUE’s operations or earnings, as it would be a secondary share sale. However, the exit of another foreign telecom shareholder could shift attention to future strategic partnerships. Following Telenor’s earlier stake transfer, the move would further strengthen TRUE’s locally anchored ownership structure. A sale to a CP-linked investor could also deepen integration with the broader CP Group ecosystem, bringing TRUE’s operating model closer to ADVANC’s partnership with GULF.
Original source
ThaiCapitalist