Knight Club Capital Asset Management PCL

Stock Focus today rounds up the key points on several stocks. BGRIM is likely to close deals for large IPP gas-fired power plants in Vietnam and Malaysia totalling 3,000 megawatts by late this year to early next year, and is preparing to file for extensions of 22 existing power plant projects with a combined capacity of 3,000 megawatts under the PDP plan, and will open the first phase of its data centre this November. ADVICE said the iPhone 18 is hot, with the iPhone 18 Pro Max fully booked in pre-orders, and handsets will start being delivered this Friday, which will support third-quarter revenue in 2026, while the company maintains its full-year revenue growth target of 15% from a year earlier and aims to reach 29 branches by the end of 2026, up from 22 in the first half. MMM is pressing ahead with new partners to supply the property business, maintaining a stock of 800 units, with a strategy targeting the 4-5 million baht price segment, drawing on its Prukasa subsidiary to help with construction, and is confident fourth-quarter results will peak, targeting full-year growth of 30-40%. KCC has set its sights on 2026, aiming to bring 500 million baht of NPLs into its portfolio and grow at least 30% after raising 450 million baht through debentures, and is studying plans to buy more NPAs. EURO is expanding the luxury market together with SC, opening the luxury villa project The Gentry Cultivar Rama 9 priced at 30-50 million baht. POLY reaffirmed its full-year revenue growth target of 10% after first-half revenue of 628 million baht, with its automotive business rising to a 60% share on continuous orders from Toyota, and has just set up a subsidiary to move into the electrical and electronics business as a new S-curve. MGC is extending its Mobility Ecosystem through its SIXT car rental business, partnering with ROYS HOTEL to provide electric XPENG vehicles to shuttle guests, with ROYS HOTEL spending 300 million baht on a major renovation and aiming to open in 2027. In insurance, the cabinet approved a national catastrophe insurance plan covering 30 million households, with protection against floods, storms, earthquakes and loss of life, starting this October 1. TWPC is set to drive sales growth in its overseas food and sauce business above 10% after acquiring Well-Grow, which began contributing revenue in September, supporting fourth-quarter 2026 results. Brokers recommend buying KLINIQ and MASTER on expectations that second-half profit will accelerate, with KLINIQ having a network of more than 84 branches. SCB EIC reaffirmed that foreign capital remains interested in investing in Thailand and is watching for the government to issue new data centre rules this year. Finansia recommends buying STECON with a target of 22.50 baht, and Globlex recommends WHA with a target of 5.40 baht. SIRI is pushing low-rise sales towards a target of 25 billion baht and will launch Burasiri Well Krungthep Kreetha worth 6 billion baht, priced at 23-40 million baht, during September 19-20. BEM said the Expressway Authority of Thailand is discussing ways to reduce the impact before raising tolls on the Chalong Rat expressway on December 15, with the new rates starting at 80 baht for four-wheel vehicles, 130 baht for six-to-ten-wheel vehicles and 180 baht for vehicles with more than ten wheels. ONEAM will hold a meeting of GROREIT trust unitholders on October 28 to vote on selling the Royal Orchid Sheraton hotel, with three options: having ROH buy it back for 4.873 billion baht, selling it to Orchid Hospitality, which has offered 5.3 billion baht, or holding a general auction. If the sale succeeds, the trust will immediately proceed with liquidation.

Knight Club Capital Holding Public Company Limited, or KCC, aims to purchase a total of 500 million baht in debt in 2026, an increase of no less than 30% from the 2025 base. Chief Executive Officer Tawee Kullertprasert told "Than Hoon" that the company continues to focus mainly on a secured business loan portfolio, having already purchased approximately 300 million baht to date, and expects to buy more as market conditions allow. The group has net loans from debt purchases and accrued interest of 1.654 billion baht. In addition, the company is studying ways to directly acquire non-performing assets from financial institutions, as well as to extend loans to those interested in buying NPA portfolios. This follows the success of its first debenture issuance and offering of 2026, worth no more than 450 million baht, held from June 22 to 24, 2026, which means that for at least the second half of this year the company will not need to raise additional capital because it already has sufficient funds for its business plan. Combined with cash flow and credit lines of 600 to 700 million baht previously extended by financial institutions, the company enjoys a high level of financial strength.

The Association of Listed Companies on the Market for Alternative Investment (maiA) has revealed the 10 companies on the mai market with the highest net profit in the first six months of 2026. PSGC took the top spot with a profit of 488 million baht, up 317% from the same period last year. UKEM posted a profit of 338 million baht, up 1,065%, the highest growth rate in the group, followed by KCC with a profit of 334 million baht, up 198%, and TRT with a profit of 290 million baht, up 262%. Ranking fifth to tenth are NTF with a profit of 276 million baht, up 67%; FSMART with a profit of 268 million baht, down 12%; XO with a profit of 238 million baht, down 15%; TACC with a profit of 203 million baht, up 33%; MEB with a profit of 191 million baht, down 10%; and FPI with a profit of 175 million baht, up 24%. Seven of the ten companies saw profit growth, while XO, FSMART, and MEB saw declines.

Knight Club Capital Holding reported first-half 2026 net profit of 334.72 million baht, up 198% from the same period last year, with total operating revenue of 547.29 million baht, up 137% from 231.06 million baht. Net profit margin rose from 48% to 61%, reflecting a stronger revenue base. The main driver was other income, which increased from 0.36 million baht to 422.28 million baht, from fair value gains on investments and dividend income. Interest income from loans to debtors rose to 117.57 million baht, and the company began recognising interest income from lending as a new revenue source of 4.65 million baht, while gains on sale of assets held for sale increased to 3.64 million baht. For the second quarter of 2026, net profit was 68.38 million baht, down 31% from a year earlier, because the second quarter of 2025 included a one-time gain of 116.99 million baht from closing a major business loan receivable. The board approved an interim dividend of 0.065 baht per share.