Thai Stocks in Focus: GULF and TQM See Gains on Renewables and Lending Initiatives

Gulf Energy Development Public Company Limited (GULF) and TQM Alpha Public Company Limited (TQM) are drawing attention in the Thai stock market. GULF, a leading independent power producer in Thailand, is expanding its investments in renewable energy alongside its gas-fired power plants and LNG operations. Notably, two GRE solar plants in Suphanburi, which commenced operations on September 1st, have begun selling electricity to the Electricity Generating Authority of Thailand (EGAT). These two solar facilities have a contracted capacity of 135 MW and are covered by 25-year Power Purchase Agreements (PPAs). Furthermore, an additional 235.6 MW of solar power capacity is slated for operation by the end of the year, signaling an expansion of its renewable energy portfolio. GULF's stock has seen a year-to-date increase of approximately 46.7%, reflecting a heightened investment appetite in the power and infrastructure sectors. Meanwhile, TQM, which primarily engages in non-life, life, and reinsurance brokerage, has seen positive reception for its new venture. Its subsidiary, Easy Lending, recently signed a Memorandum of Understanding (MOU) with Sitron Power for the "Solar Plus" program. This initiative offers rooftop loans for solar panel installations with a maximum repayment period of 60 months, at a fixed monthly interest rate of 0.65–0.71%. Installments start from approximately THB 2,1xx per month. This new business development has boosted TQM's stock, which has risen about 35.7% year-to-date. In addition to these individual company developments, the delisting of CIMBT, GLAND, and LRH stocks on September 12th has also been reported. Dividend payments from several companies, including ADVANC and GPSC, are also scheduled. Source: ThaiCapitalist