หมวดหมู่ข่าวสาร
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Macro View in February 2025 (Bond Research).
Corporate bond issuance in February 2025: Increased by 8.42% month-on-month Decreased by 21.4% year-on-year Total value: 71 billion baht Summary of bond offerings in February 2025: 9 out of 34 companies failed to fully sell their bond offerings Credit rating changes in February 2025: One downgrade “PRIME” Bond offerings in March 2025.
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ERW: A Leading Hotel Investment and Development Company [FynnCorp IAS Equity Research]
ERW, well-known under brands such as Grand Hyatt Erawan, Novotel, Mercure, Holiday Inn, Ibis, and HOP INN, has enjoyed the performance growth.
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Macro View in January 2025 (Bond Research).
December 2024 bond issuance value increased by 64.6% MoM to 65 billion baht.
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Macro View in December 2024 (Bond Research).
In the past month, we have observed a significant 65.7% month-over-month (MoM) decline in corporate bond issuance, with the total value dropping to 39.5 billion baht. This downturn can be attributed to seasonal factors at the end of the year, as demand waned due to increased investments in other financial products for tax purposes. The issuance was primarily composed of investment-grade bonds, accounting for 84.8% of the total at 33.5 billion baht, while Non-investment-grade bonds represented 15.2% or 5.9 billion baht.
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Macro View in November 2024 (Bond Research).
In the past month, we have witnessed a significant surge in corporate bond issuance compared to the previous month. Investment-grade bonds accounted for a substantial 76.3% of the total issuance, equating to 88.5 billion baht, while non-investment-grade bonds made up the remaining 23.7% at 26.9 billion baht. This surge was primarily driven by large-scale refinancing activities from major issuers such as SCC and ADVANC, which collectively accounted for a significant 56.3% of the total bond issuance in November 2024.
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INET Bond: Full Range of ICT Service Provider [FynnCorp IAS Bond Research]
Strong Financial Performance and Positive Cash Flow from its revenue and net profit for the first nine months of 2024 that grew by 21% and 57% YoY, respectively. This is driven by the growing demand for Digital Transformation among both existing and new business clients.
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ASW Bond: Strong Cash Flow with ability to repay bonds as scheduled [FynnCorp IAS Bond Research]
This analysis was conducted by FynnCorp IAS, a securities advisory firm, with support from the issuer. However, the issuer did not participate in providing opinions or analysis in this report.
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SINGER Bond: The business turned around with a profit for five consecutive quarters [FynnCorp IAS Bond Research]
Turnaround performance is reflected in continuous profits for five consecutive quarters, with an upward trend driven by reducing SG&A expenses and leveraging technology to replace back-office staff and the number of direct sales employees. Besides, the income from “Locked Phone” loans under the new business, SG FINANCE+, operated by the subsidiary, is expected to positively contribute to the growth of mobile phone financing.
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Macro View in October 2024 (Bond Research).
Bond Macro Domestic Macro View in October 2024 (Bond Research). อ่าน 1 นาที Key Highlights: Figure 1 : New registered bonds (THB Billion) (Source : FynnCorp IAS’s compilation from SEC and ThaiBMA) Figure 2 : Maturity Vs. New Registered Bonds (THB Billion) (Source : FynnCorp IAS’s compilation from SEC and ThaiBMA) 2 companies, SNW and […]
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BLC, one of the country’s leading manufacturers and researchers of health products [FynnCorp IAS Equity Research]
Being an Original Innovative Herbal Medicine with over 30 years in pharmaceutical industry, advanced in Thai herbal medicine
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SORKON, a leading Thai food brand loved by consumers [FynnCorp IAS Equity Research]
Well-known brand such as S.Khon kaen and Entrée with an expansion its customer base with production plants in United States and China
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KUN Bond: A small-cap stock with big dreams, ready to repay its debenture debt on schedule [FynnCorp IAS Bond Research]
Develop low-rise development projects in Bangkok and surrounding areas. Expand the development zone for housing projects from Bang Bua Thong to Chachoengsao, then to Rama 2-Bang Khun Thian and Pathum Thani-Rangsit Klong 2. There is more than 500 rai of land awaiting development, with a total project value of over 12,000 million Baht.
![ERW: A Leading Hotel Investment and Development Company [FynnCorp IAS Equity Research]](https://fynncorp.com/wp-content/uploads/2025/02/15-IAS-Macro.jpg)
![BLC, one of the country’s leading manufacturers and researchers of health products [FynnCorp IAS Equity Research]](https://fynncorp.com/wp-content/uploads/2025/02/10-IAS-Macro.jpg)
![SORKON, a leading Thai food brand loved by consumers [FynnCorp IAS Equity Research]](https://fynncorp.com/wp-content/uploads/2025/02/09-IAS-Macro.jpg)
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Macro View in February 2025 (Bond Research).
Corporate bond issuance in February 2025: Increased by 8.42% month-on-month Decreased by 21.4% year-on-year Total value: 71 billion baht Summary of bond offerings in February 2025: 9 out of 34 companies failed to fully sell their bond offerings Credit rating changes in February 2025: One downgrade “PRIME” Bond offerings in March 2025.
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Macro View in January 2025 (Bond Research).
December 2024 bond issuance value increased by 64.6% MoM to 65 billion baht.
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Macro View in December 2024 (Bond Research).
In the past month, we have observed a significant 65.7% month-over-month (MoM) decline in corporate bond issuance, with the total value dropping to 39.5 billion baht. This downturn can be attributed to seasonal factors at the end of the year, as demand waned due to increased investments in other financial products for tax purposes. The issuance was primarily composed of investment-grade bonds, accounting for 84.8% of the total at 33.5 billion baht, while Non-investment-grade bonds represented 15.2% or 5.9 billion baht.
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Macro View in November 2024 (Bond Research).
In the past month, we have witnessed a significant surge in corporate bond issuance compared to the previous month. Investment-grade bonds accounted for a substantial 76.3% of the total issuance, equating to 88.5 billion baht, while non-investment-grade bonds made up the remaining 23.7% at 26.9 billion baht. This surge was primarily driven by large-scale refinancing activities from major issuers such as SCC and ADVANC, which collectively accounted for a significant 56.3% of the total bond issuance in November 2024.
-
INET Bond: Full Range of ICT Service Provider [FynnCorp IAS Bond Research]
Strong Financial Performance and Positive Cash Flow from its revenue and net profit for the first nine months of 2024 that grew by 21% and 57% YoY, respectively. This is driven by the growing demand for Digital Transformation among both existing and new business clients.
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ASW Bond: Strong Cash Flow with ability to repay bonds as scheduled [FynnCorp IAS Bond Research]
This analysis was conducted by FynnCorp IAS, a securities advisory firm, with support from the issuer. However, the issuer did not participate in providing opinions or analysis in this report.
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SINGER Bond: The business turned around with a profit for five consecutive quarters [FynnCorp IAS Bond Research]
Turnaround performance is reflected in continuous profits for five consecutive quarters, with an upward trend driven by reducing SG&A expenses and leveraging technology to replace back-office staff and the number of direct sales employees. Besides, the income from “Locked Phone” loans under the new business, SG FINANCE+, operated by the subsidiary, is expected to positively contribute to the growth of mobile phone financing.
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Macro View in October 2024 (Bond Research).
Bond Macro Domestic Macro View in October 2024 (Bond Research). อ่าน 1 นาที Key Highlights: Figure 1 : New registered bonds (THB Billion) (Source : FynnCorp IAS’s compilation from SEC and ThaiBMA) Figure 2 : Maturity Vs. New Registered Bonds (THB Billion) (Source : FynnCorp IAS’s compilation from SEC and ThaiBMA) 2 companies, SNW and […]
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KUN Bond: A small-cap stock with big dreams, ready to repay its debenture debt on schedule [FynnCorp IAS Bond Research]
Develop low-rise development projects in Bangkok and surrounding areas. Expand the development zone for housing projects from Bang Bua Thong to Chachoengsao, then to Rama 2-Bang Khun Thian and Pathum Thani-Rangsit Klong 2. There is more than 500 rai of land awaiting development, with a total project value of over 12,000 million Baht.
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Macro View in September 2024 (Bond Research).
Macro View in September 2024 (Bond Research).
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Macro View in February 2025 (Bond Research).
Corporate bond issuance in February 2025: Increased by 8.42% month-on-month Decreased by 21.4% year-on-year Total value: 71 billion baht Summary of bond offerings in February 2025: 9 out of 34 companies failed to fully sell their bond offerings Credit rating changes in February 2025: One downgrade “PRIME” Bond offerings in March 2025.
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Macro View in January 2025 (Bond Research).
December 2024 bond issuance value increased by 64.6% MoM to 65 billion baht.
-
Macro View in December 2024 (Bond Research).
In the past month, we have observed a significant 65.7% month-over-month (MoM) decline in corporate bond issuance, with the total value dropping to 39.5 billion baht. This downturn can be attributed to seasonal factors at the end of the year, as demand waned due to increased investments in other financial products for tax purposes. The issuance was primarily composed of investment-grade bonds, accounting for 84.8% of the total at 33.5 billion baht, while Non-investment-grade bonds represented 15.2% or 5.9 billion baht.
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Macro View in November 2024 (Bond Research).
In the past month, we have witnessed a significant surge in corporate bond issuance compared to the previous month. Investment-grade bonds accounted for a substantial 76.3% of the total issuance, equating to 88.5 billion baht, while non-investment-grade bonds made up the remaining 23.7% at 26.9 billion baht. This surge was primarily driven by large-scale refinancing activities from major issuers such as SCC and ADVANC, which collectively accounted for a significant 56.3% of the total bond issuance in November 2024.
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Macro View in October 2024 (Bond Research).
Bond Macro Domestic Macro View in October 2024 (Bond Research). อ่าน 1 นาที Key Highlights: Figure 1 : New registered bonds (THB Billion) (Source : FynnCorp IAS’s compilation from SEC and ThaiBMA) Figure 2 : Maturity Vs. New Registered Bonds (THB Billion) (Source : FynnCorp IAS’s compilation from SEC and ThaiBMA) 2 companies, SNW and […]
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Macro View in September 2024 (Bond Research).
Macro View in September 2024 (Bond Research).
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ERW: A Leading Hotel Investment and Development Company [FynnCorp IAS Equity Research]
ERW, well-known under brands such as Grand Hyatt Erawan, Novotel, Mercure, Holiday Inn, Ibis, and HOP INN, has enjoyed the performance growth.
-
BLC, one of the country’s leading manufacturers and researchers of health products [FynnCorp IAS Equity Research]
Being an Original Innovative Herbal Medicine with over 30 years in pharmaceutical industry, advanced in Thai herbal medicine
-
SORKON, a leading Thai food brand loved by consumers [FynnCorp IAS Equity Research]
Well-known brand such as S.Khon kaen and Entrée with an expansion its customer base with production plants in United States and China