NT3 & 4
14
February
POW – Earning Review – [HOLD] – Gross margin encountered many challenges
POW’s 4Q24 revenue grew to VND8,493bn, up 32% yoy. Increasing revenue driven by total the output recorded 4,556mn kWh (+22% yoy). However, GP recorded VND540bn (-26% yoy). The main reasons...
18
November
POW – Brief – [HOLD] – Positive information for NT3&4 and 2025 prospects
On 15th, we attended POW’s analyst meeting. Here are some notable highlights: (1) POW recorded October revenue at VND2,261bn (+4% yoy), supported by a 13% yoy rise in production output,...
Featured Analysis
Oil & Gas – In-depth – [NEUTRAL] – 2H25 Outlook: Tailwinds at home, headwinds abroad
Aviation – In-depth – [NONRATED] – 2H25 Outlook: Hold Altitude
Derivatives: Rising liquidity
Market commentary: Market divergence
Derivatives: A breakout session?
Market commentary: Strong foreign inflows
Fund flow: Strong capital outflows in Thailand
