บทวิเคราะห์ (Research)

KL roadshow: investor feedback NEUTRAL Small interest in Thai tourism after price corrections We met 8 institutional clients in Malaysia last week, most of whom don’t have exposure to Thai tourism stocks as the market caps are too small and due to high gearing, especially the hoteliers. The investors we met have not been interested in AOT since it extended assistance measures to duty-free concessionaire ‘King Power’ through revenue concession, creating uncertainty. For the proposed entertainment complexes in Thailand, several investors agree with us that the projects will help drive Thailand’s economy once they open as Thailand has more than 40m tourists each year and potential demand from underground gambling (both on-site and online).