Daily Market Outlook 29 Feb 2016
1
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A sense of strength Thai shares look set to trade higher today as there is a sense that global bourses and oil prices are regaining some strength after sharp gains in crude prices last week. However, market gains should be limited on revived expectations of a Fed rate hike after several solid US data recently. Locally, the contracts of ten out of 20 government mega infrastructure projects worth a combined Bt1.79tn will be signed in 1H16, which means real seed money can be injected into the economy right after, adding to Bt476bn annual investment budget and reinforcing the fiscal stimulus power to boost the sluggish economy. Pick of the day: MINT (Bt36.00; NR; 16TP Bloomberg Bt39.00) Minor International PCL is a global hotel and restaurant operator with 145 properties in 22 countries. The company’s bright earnings outlook in the years to come will be driven by outstanding hotel operations in Thailand and Australia, its international hotel management business, additional revenues from hotels recently acquired and to be acquired, as well as a solid performance from its restaurant businesses in Thailand and China. Recently, the company entered into a long term 6-rai land lease in the heart of Bangkok CBD on the most expensive Silom Road to develop a mixed use building consisting of office and retail worth Bt4.72bn which will help further diversify its portfolio risk and boost long-term operating performance. In 1Q16, we expect earnings to continue to shine thanks to high seasonality for tourism in Thailand. According to the Bloomberg earnings consensus, MINT’s earnings growth is expected to be 26% in 2016 and 17% in 2017. MINT’s price pattern indicates an apparent upward trend from a monthly buy signal followed by a recent daily buy signal although a weekly sell signal remains. If the share price manages to close above Bt36 on Friday, a weekly buy signal will occur, indicating a strong possibility that MINT is about to make a new high. The share is likely to break the last high at Bt37.25 before moving up to make a new high at Bt38.75. There is a stop loss at Bt34.75. (Resistance: 36.25, 36.50, 37.00; Support: 35.75, 35.25, 35.00) Local issue 20 infrastructure projects to be signed this year. The
government anticipates to sign contracts on all 20 mega
infrastructure investments this year worth approximately
Bt1.79tn. Of all the projects, ten will be signed in 1H16
while the rest will be signed in 2H16. According to Finance
Minister Apisak Tantivorawong, budget for the second ten
projects will be disbursed next year. (Bangkok Post)
Ministry to control illegal foreign traders. The
Commerce Ministry plans to improve law enforcement
aiming to address the issue of nominees of foreign
companies violating local businesses protected by Foreign
Business Act (FBA). The Business Development
Department has been instructed to outline measures, in
which the revisions and measures to protect local
businesses should be finalized soon, Commerce
permanent secretary Chutima said. (Bangkok Post)
Major Indices Close Chg %Chg
SET 1,343.07 +9.7 +0.7
SET50 859.51 +8.3 +1.0
SET P/E (x) 19.7
SET P/BV (x) 1.8
SET Div. Yield (%) 3.4
Dow Jones 16,639.97 -57.3 -0.3
S&P 500 1,948.05 -3.7 -0.2
NASDAQ 4,590.47 +8.3 +0.2
UK 6,096.01 +83.2 +1.4
Germany 9,513.30 +181.8 +1.9
France 4,314.57 +66.1 +1.6
Japan 16,188.41 +48.1 +0.3
South Korea 1,920.16 +1.6 +0.1
Hong Kong 19,364.15 +475.4 +2.5
China 2,767.21 +26.0 +0.9
Taiwan 8,411.16 +45.3 +0.5
Singapore 2,649.38 +46.0 +1.8
Malaysia 1,663.44 +5.3 +0.3
Indonesia 4,733.15 +74.8 +1.6
Philippines 6,771.30 +2.0 +0.0
Trading Summary Buy Sell Net
Institution 4,486 2,816 1,669
Proprietary 4,521 4,564 -43
Foreign 9,233 10,606 -1,373
Individuals 19,200 22,247 -253
Total Trading Value 40,234 Btmn
Most Active Value Value Close %Chg
ADVANC 2,570 174.00 1.2 TRUE 2,295 6.90 12.2 PTTEP 1,854 67.25 -0.4 PTT 1,703 264.00 1.1 INTUCH 1,474 59.25 -0.4
Commodity Futures Close Chg %Chg
US Crude 32.78 -0.3 -0.9
Brent Crude 35.10 -0.2 -0.5
Gold 1,238.80 -0.3 -0.0
FX Rates Close Chg %Chg
USD/THB 35.71 +0.0 +0.1
EUR/USD 1.06 -0.0 -0.2
USD/JPY 122.60 -0.1 -0.1
USD/CNY 6.39 +0.0 +0.0
Source: Bisnews, Bloomberg
Technical picks (support & resistance)
BANPU (S: 16.00, R: 20.50); TRUE (S: 5.80, R: 8.10); CHG (S: 2.38, R: 2.72); SET (S: 1,333, R: 1,353)
Thailand Research Department
Mr. Warut Siwasariyanon (No.17923) Tel: 02 680 5041
Mr. Krit Suwanpibul (No.17968) Tel: 02 680 5090
Mr. Narudon Rusme, CFA (No.29737) Tel: 02 680 5056
Mr. Napat Siworapongpun (No.49234) Tel: 02 680 5094
Ms. Sukanya Leelarwerachai (No.68790) Tel: 02 680 5331
Daily Market Outlook 29 Feb 2016
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Please see disclaimer on last page
Human rights groups want EU fishing to extend yellow card. Nearly 30
international rights organizations, led by the Asian Human Rights Commission,
asked the European Commission on Friday to extend its yellow card warning
on Thailand's seafood industry to ensure the country follows through on efforts
to end Illegal, Unreported and Unregulated (IUU) fishing. (Bangkok Post)
Old rice auctions may be opened to foreigners. The Commerce Ministry is
considering allowing international bidding at auctions for the 11mn ton old rice
still in the stockpile from the previous government's rice-pledging scheme, as it
plans to sell at least 5mn tons of the old grain this year. (Bangkok Post)
GRAMMY (Bt7.30) plans to cut more than 100 jobs as cost management efforts
and restructuring of the organisation into a provider of total media solutions.
GMM Grammy is reportedly also considering cutting more jobs from its current
staff strength of 3,000 employees. The recent move was not related to its
terrestrial-based digital TV businesses - GMM 25 and One channel (Nation)
NOK (Bt7.05) may resume flights normally in April instead of 10 Mar as the
airline continues its efforts to address problems in the organization (Bangkok
Post)
THCOM (Bt28.50, BUY, AWS 16TP Bt49.00)’s Thaicom 9 satellite plans are up
in the air as orbital slots may be withdrawn, said a source from an ICT ministry.
THCOM’s source said the company is ready to explain to the ministry that
reserving the orbital slots for future satellite launches protects national interest.
The regulator (NBTC) has already granted the licence for the planned Thaicom
8 and Thaicom 9 satellites. Currently, THCOM is seeking a manufacturer to
build Thaicom 9. Comment: We think the real regulator for satellite service
in Thailand is the NBTC who has already granted the license for the
Thaicom 9 satellite. We do not believe that the ICT Ministry will actually
withdraw orbital slot reservations which ruins national interest as
Thailand will lose the slots to other nations. We maintain a BUY
recommendation with 16TP of Bt49.00.
Global issues A weekend meeting of G20 policymakers offered nothing in the way of
coordinated action to shore up global growth and calm financial markets.
(Reuters)
The focus this week will be upcoming business surveys from China, Japan,
Europe, and the US. (Reuters)
The dollar rose broadly on Friday after mostly upbeat US economic data
renewed some expectations that the Federal Reserve could raise interest rates
again this year. The dollar index rose 0.86% to a three-week high of 98.260.
The euro was down 0.8% against the dollar at US$1.0931. The dollar climbed
0.77% to ¥113.990, breaking the Japanese currency's streak of gains. (Reuters)
US Treasury yields rose on Friday after data showed that inflation is rising
and the recent US economic slowdown was not as bad as previously thought.
Benchmark 10-year notes fell 21/32 in price to yield 1.77%, up from 1.70% on
Thursday. (Reuters)
USA Wall Street shares finished lower on Friday in a week of strong gains on
renewed concerns about the timing of future interest rate hikes after several
solid US economic data offset gains in materials and energy stocks. US GDP
in 4Q15 was revised up while consumer spending rose strongly in January and
inflation picked up by the most in four years. (Reuters)
US GDP expanded at a 1% annual rate in 4Q15, an upward revision from its
previous estimate of 0.7% growth. The data exacerbated concerns that the US
Daily Market Outlook 29 Feb 2016
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Federal Reserve could raise rates sooner rather than later. The economy grew
at a rate of 2.0% in 3Q15 and expanded 2.4% in 2015. (Reuters)
US consumer spending increased 0.5% in January, the largest gain in ten
months, as households ramped up purchases of a range of goods and a return
to normal winter temperatures boosted demand for heating. Consumer
spending, which accounts for more than two-thirds of US GDP, rose by an
upwardly revised 0.1% in December. Economists had forecast consumer
spending advancing 0.3% last month. (Reuters)
Pick-up in inflation: The CPI edged up 0.1% in January after dipping 0.1% in
December. In the 12 months through January, the personal consumption
expenditures (PCE) price index rose 1.3%, the largest increase since October
2014, after advancing 0.7% in December. Excluding food and energy, prices
rose 0.3%. That was the largest increase since January 2012 and followed a
0.1% gain in December. The so-called core PCE price index increased 1.7% in
the 12 months through January, the largest rise since July 2014. (Reuters)
Consumer sentiment steady: The University of Michigan said its consumer
sentiment index rose to 91.7 in February after slipping to 90.7 early in the
month. It was slightly down from January's 92.0 reading. (Reuters)
Europe European equities rallied on Friday to reach a three-week high, as a jump in
metals prices boosted miners and some encouraging company updates also
supported the market. (Reuters)
Asia Japan industrial output grows at fastest pace since Jan 2015: Japan's
industrial output rose 3.7% in January, up for the first time in three months, in
what may be a temporary pickup in factory activity amid weak domestic and
external demand. The rise compared with economists' median estimate of a
3.3% gain. (Reuters)
Japanese retail sales fell 0.1% YoY in January, short of a median market
forecast for a 0.5% increase. (Reuters)
Falling fuel costs kept Japan's core consumer prices unchanged in
January from a year earlier, well below the central bank's 2% target,
highlighting the daunting task BOJ face in attempting to lift Japan out of
stagnation. (Reuters)
PBOC deflects concerns over FX reserves: Foreign exchange reserves in
China declined by US$99.5bn in January to US$3.23tn after a record fall the
previous month. Reserves have shrunk by US$762bn since mid-2014. Yi Gang,
vice governor of the PBOC said that part of the recent reductions in China's
massive forex reserve was down to higher holdings by companies and
individuals. He deflected concerns over the possibility of an extended fall in the
country's foreign exchange reserves and reaffirmed confidence in the strength
of the yuan. China still owns the world's largest currency reserves. (Reuters)
Commodities Oil prices fell on Friday as investors cashed out big weekly profits after a rally
driven by disruptions to crude supplies and Wall Street's gains from US
economic data. Brent crude settled down 19 cents at US$35.10. It hit a high of
US$37 earlier, a peak since 5 Jan. US crude settled down 29 cents at US$32.78
a barrel, after gaining almost US$1.70 earlier. (Reuters)
Gold fell more than 1% on Friday, as the dollar and global shares rose, but
fund buying persisted as investors expected a G20 summit would produce little
in the way of a coordinated stimulus program. Spot gold was down 1% at
US$1,221.61 an ounce, after falling as much as 1.9%. US April gold futures
settled down 1.5% at US$1,220.40 an ounce. (Reuters)
Daily Market Outlook 29 Feb 2016
4
Please see disclaimer on last page
Mon Tue Wed Thu Fri
1 2 3 4 5
XD
TSC
XD
CRYSTAL
DIF
ERWPF
POPF
PPF
SIRIP
SPWPF
TGROWTH
XD
CPNCG
CPNRF
8 9 10 11 12
XD
VGI
XD
METCO
PTTEP
XD
JASIF
15 16 17 18 19
XD
BKKCP
SNC
TIF1
UNIPF
XD
DTAC
XD
IRPC
XD
BTSGIF
KTC
MIPF
SPF
SSTSS
URBNPF
22 23 24 25 26
XD
IMPACT
LPN
WICE
XD
CPTGF
DTCPF
EGATIF
FUTUREPF
GPSC
HPF
MNIT
MNIT2
M-PAT
M-STOR
QHOP
TCIF
THIF
TOP
TRIF
TTLPF
XD
JAS
LHPF
PTTGC
QHHR
QHPF
TFUND
TLOGIS
UOB8TF
WHABT
WHART
XD
GCAP
LHSC
29
XD
BOL
LIT
Feb-16
Date Regions
29-Feb-16 EU
29-Feb-16 EU
1-Mar-16 US
1-Mar-16 US
1-Mar-16 US
2-Mar-16 EU
2-Mar-16 EU
3-Mar-16 EU
3-Mar-16 US
4-Mar-16 US
4-Mar-16 US
Economic Indicators
Consumer Price Index - Core (YoY) (Feb)
Producer Price Index (YoY) (Jan)
Markit PMI Composite (Feb)
Markit PMI Composite (Feb)
API Weekly Crude Oil Stock
Consumer Price Index (YoY) (Feb)
ISM Manufacturing PMI (Feb)
ISM Prices Paid (Feb)
Unemployment Rate (Feb)
Nonfarm Payrolls (Feb)
Producer Price Index (MoM) (Jan)
5
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CG Rating
Score Range Number of Logo Description
90 – 100
80 – 89
70 – 79
60 – 69
50 – 59
Below 50
No logo given
Excellent
Very Good
Good
Satisfactory
Pass
N/A
Corporate Governance Report of Thai Listed Companies (CGR). CG Rating by the Thai Institute of Directors Association (IOD) in 2015.
Corporate Governance Report disclaimer
The disclosure of the survey result of the Thai Institute of Directors
Association (“IOD”) regarding corporate governance is made pursuant
to the policy of the Office of the Securities and Exchange Commission.
The survey of the IOD is based on the information of a company listed
on the Stock Exchange of Thailand and the Market for Alternative
Investment disclosed to the public and able to be accessed by a
general public investor. The result, therefore, is from the perspective of
a third party. It is not an evaluation of operation and is not based on
inside information.
The survey result is as of the date appearing in the Corporate
Governance Report of Thai Listed Companies. As a result, the survey
result may be changed after that date, Asia wealth Securities Company
Limited does not conform nor certify the accuracy of such survey result.
ADVANC BAFS BCP BIGC BTS CK CPN DRT DTAC DTC EASTW EGCO GRAMMYHANA HMPRO INTUCH IRPC IVL KBANK KCE KKP KTB LHBANK LPN MCOT MINTMONO NKI PHOL PPS PS PSL PTT PTTEP PTTGC QTC RATCH ROBINS SAMARTSAMTEL SAT SC SCB SCC SE-ED SIM SNC SPALI THCOM TISCO TKT TMBTOP VGI WACOAL
AAV ACAP AGE AHC AKP AMATA ANAN AOT APCS ARIP BMCL BOL BROOKBWG CENTEL CFRESH CHO CIMBT CM CNT COL CPF CPI CSL DCC DELTADEMCO ECF EE ERW GBX GC GFPT GLOBAL GUNKUL HEMRAJ HOTPOT HYDRO ICCICHI INET IRC KSL KTC LANNA LH LOXLEY LRH MACO MBK MC MEGAMFEC NBC NCH NINE NSI NTV OCC OGC OISHI OTO PAP PDI PEPG PJW PM PPP PR PRANDA PREB PT PTG Q-CON QH RS S&JSABINA SAMCO SCG SEAFCO SFP SIAM SINGER SIS SITHAI SMK SMPC SMT SNPSPI SSF SSI SSSC SST STA STEC SVI SWC SYMC SYNTEC TASCO TBSPTCAP TF TGCI THAI THANA THANI THIP THRE THREL TICON TIP TIPCO TKTKS TMI TMILL TMT TNDT TNITY TNL TOG TPC TPCORP TRC TRU TRUETSC TSTE TSTH TTA TTCL TTW TU TVD TVO TWPC UAC UT UVVNT WAVE WINNER YUASA ZMICOVNT WAVE WINNER YUASA ZMICO
2S AEC AEONTS AF AH AIRA AIT AJ AKR AMANAH AMARIN AP APCOAQUA AS ASIA AUCT AYUD BA BEAUTY BEC BFIT BH BIG BJC BJCHIBKD BTNC CBG CGD CHG CHOW CI CITY CKP CNS CPALL CPL CSCCSP CSS CTW DNA EARTH EASON ECL EFORL ESSO FE FIRE FOCUS FORTHFPI FSMART FSS FVC GCAP GENCO GL GLAND GLOW GOLD GYT HTC HTECHIEC IFEC IFS IHL IRCP ITD JSP JTS JUBILE KASET KBS KCAR KGIKKC KTIS KWC KYE L&E LALIN LHK LIT LIVE LST M MAJOR MAKROMATCH MATI MBKET M-CHAI MFC MILL MJD MK MODERN MOONG MPG MSC MTIMTLS NC NOK NUSA NWR NYT OCEAN PACE PATO PB PCA PCSGH PDGPF PICO PL PLANB PLAT PPM PRG PRIN PSTC PTL PYLON QLT RCIRCL RICHY RML RPC S SALEE SAPPE SAWAD SCCC SCN SCP SEAOIL SIRISKR SMG SOLAR SORKON SPA SPC SPCG SPPT SPVI SRICHA SSC STANLY STPISUC SUSCO SUTHA SYNEX TAE TAKUNI TCC TCCC TCJ TEAM TFD TFI TICTIW TLUXE TMC TMD TOPP TPCH TPIPL TRT TSE TSR UMI UP UPFUPOIC UREKA UWC VIBHA VIH VPO WHA WIN XO
Source: Thai Institute of Directors (IOD)
6
Please see disclaimer on last page
CG Rating
ขอมล Anti-Corruption Progress Indicator ของบรษทจดทะเบยน
ระดบ 1ACD AEONTS AFC AIRA AJ ALUCON AMC AQUA ARIP AUCT BAT-3K BIG BJCBLISS BMCL BOL BRR BSBM CBG CCET CCN CGD CMR CPH CSC CSPCTW DCON DRACO DSGT DTCI E EMC ESSO FOCUS FSMART GIFT GLANDGRAND GUNKUL HFT HTECH IHL ILINK ITD JSP KDH KTIS KTP LEE LSTMAJOR MATCH MAX M-CHAI MDX MIDA ML MPIC NC NEP NNCL NWR OHTLPICO PK PL PPM PRAKIT PRECHA PRIN PSTC PYLON RAM RICH RS SANKOSAUCE SAWAD SAWANG SCN SEAFCO SF SHANG SIRI SMART SMM SOLAR SPACK SPGSPPT SPVI STA STAR SVH SVOA SWC TAPAC TC TCCC TCJ TCOAT THTKS TNH TNPC TPA TPAC TPOLY TRC TRUBB TSE TTA TTI TTL TTTMTWP TWZ U UMS UPA UPOIC UTP UVAN VARO VI VIBHA VIH VTEWG
ระดบ 22S ABICO AF AKP AMARIN AMATA AOT APCO AYUD BEAUTY BFIT BH BKDBLAND BTNC CCP CI CSR CSS EFORL EPCO FE FNS FVC GEL GLOBALHEMRAJ IEC IFS INET JUTHA KASET KCAR KKC KSL L&E LALIN LTX MMALEE MBK MBKET MEGA MK MPG MTLS NCH NCL NPP OCC OCEAN PBPCA PRINC QH ROCK RPC S&J SGP SIAM SIS SKR SMG SMIT SORKONSUSCO TAKUNI TEAM TF TIC TIP TIPCO TMC TMI TPP TRT TRU TRUETSC TSI TTW TVD TVO UKEM UNIQ UWC VNG WIIK WIN XO
ระดบ 3AABC ACAP ADVANC AEC AGE AH AIE AMANAH ANAN AP APCS APURE ASASIA ASIAN ASIMAR BIGC BROOK BTS BWG CEN CENTEL CFRESH CHARAN CHO CHOTICM CNT COL CPALL CPF CPI CPL DELTA DEMCO DIMET DNA DTAC EAECF EE EVER FPI GBX GC GFPT GLOW HMPRO HOTPOT ICC ICHI IFECINOX INSURE IRC JAS JTS JUBILE KC KTC KYE LHK LPN LRH MAKROMC MCOT MFC MFEC MINT MJD MONO MOONG NBC NDR NINE NMG NSINTV OGC PACE PCSGH PDI PG PHOL PLAT PPS PR PRANDA PREB PSQLT RATCH RML ROBINS ROJNA RWI SAMCO SCCC SCG SEAOIL SE-ED SENA SINGERSITHAI SMK SMPC SPALI SPC SPCG SPI SRICHA SSI STANLY SUPER SVI SYMCSYNEX SYNTEC TASCO TCMC TFI THAI THRE THREL TICON TKT TLUXE TNL TPCORPTMILL TMT TSTE TSTH TTCL TU TVI UOBKH UREKA VGI VNT WACOAL WHAZMICO
ระดบ 3BAAV AHC AI AIT AKR ARROW ASK BA BDMS BEC BECL BJCHI BUICGH CHG CHOW CIG CITY CK CKP COLOR CWT EARTH EASON EPG F&DFANCY FIRE FMT FORTH GENCO GL GOLD GPSC GRAMMY HYDRO IRCP IT JCTKCM KWC LH LIT LOXLEY MACO MANRIN MATI MODERN MSC NOBLE NOK NPKNUSA OISHI OTO PAF PAP PATO PF PJW PLANB PLE POLAR PRG PTLQ-CON QTC RCI S11 SALEE SAM SAMART SAMTEL SAPPE SC SCP SFP SIMSLP SMT SPA SPORT SSC SST STEC STPI SUC SUTHA T TAE TBSPTCC TFD TGCI TGPRO THANA THIP TIW TK TMW TNDT TOPP TPC TPCHTPIPL TSR TT TYCN UAC UBIS UEC UMI UP UPF UT UV VPOWAVE WINNER YUASA
ระดบ 4ASP BAFS BANPU BAY BBL BKI BLA CIMBT CNS CSL DCC DRT DTCEASTW ECL EGCO ERW FSS GCAP HANA HTC INTUCH IRPC IVL KBANK KCEKGI KKP KTB LANNA LHBANK MTI NKI PSL PTG PTTEP SABINA SCB SNCSNP SSF SSSC TCAP THCOM TISCO TIMB TMD TNITY TOG
ระดบ 5BCP CPN GYT PE PM PPP PT PTT PTTGC SAT SCC THANI TOP
ไมเปดเผยหรอไมมนโยบายA ACC AJD AQ BCH BGT BROCK BSM BTC CHUO CPR CRANE EICFER JMART JMT KAMART KBS KIAT LDC MBAX MCS METCO NEW NEWS NYTPAE PDG PERM PMTA POST RCL RICHY ROH S SIMAT TCB TR TSFTVT WORKหมายเหตระดบ 1 : มนโยบายระดบ 2 : ประกาศเจตนารมณระดบ 3 : มมาตรการปองกน ซงทง 2 กรณ ถอเปนผลการประเมนในระดบเดยวกน
3A : บรษทมการประกาศเจตนารมณเขารวมโครงการ CAC หรอภาค3B : บรษทมค ามน และนโยบายของบรษท แตมไดประกาศเจตนารมณเขารวมโครงการ CAC หรอภาค
ระดบ 4 : ไดรบการรบรองระดบ 5 : ขยายผลสผท เกยวของ
7
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Contact
Branch Address Phone Fax
Head Office 540 Floor 7,14,17 , Mercury Tower, Ploenchit Road, Lumphini,
Pathumwan Bangkok 10330
02-680-5000 02-680-5111
Silom 191 Silom Complex Building,21st Floor Room 2,3-1 Silom Rd.,
Silom, Bangrak, Bangkok, 10500 Thailand
02-630-3500 02-630-3530-1
Asok 159 Sermmitr Tower, 17th FL. Room No.1703, Sukhumvit 21
Road, Klong Toey Nua, Wattana, Bangkok 10110
02-261-1314-21 02-261-1328
Pinklao
7/3 Central Plaza Pinklao Office Building Tower B, 16th Flr.,
Room No.1605-1606 Baromrajachonnanee Road, Arunamarin,
Bangkoknoi, Bangkok 10700
02-884-7333 02-884-7357,
02-884-7367
Chaengwattana
99/99 Moo 2 Central Plaza Chaengwattana Office Tower, 22nd
Flr., Room 2204 Chaengwattana Road, Bang Talad, Pakkred,
Nonthaburi 11120
02-119-2300 02-8353006
Chaengwattana 2
9/99 Moo 2 Central Plaza Chaengwattana Office Tower, 22nd Flr.,
Room 2203 Chaengwattana Road, Bang Talad, Pakkred,
Nonthaburi 11120
02-119-2388 02-119-2399
Mega Bangna 39 Moo6 Megabangna, 1st Flr., Room 1632/7 Bangna-Trad
Road, Bangkaew Bangplee, Samutprakarn 10540
02-106-7345 02-105-2070
Rayong 356/18 Sukhumvit Road, Nuen-Phra Sub District, Muang
District, Rayong Province 21000
038-808200 038-807200
Khonkaen 26/9 Srijanmai Road, Tamboonnaimuang, Khon Khaen
40000
043-334-700 043-334-799
Chonburi 55/22 Moo 1, Samed Sub District, Muang District, Chonburi
20000
038-053-858 038-784-090
Chaseongsao 233-233/2 Moo2 1st Flr., Sukprayoon Road, Na Meung Sub-
District, Meung District, Chachoengsao 24000
038-981-587 038-981-591
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