Singer Thailand Public Company Limited

The boards of Singer Thailand (SINGER) and SGC Capital (SGC) are set to propose to the extraordinary shareholders' meetings on September 29, 2026, to transfer legal reserves and share premium to offset the companies' accumulated losses in their separate financial statements. SINGER will transfer a total of 12,417.75 million baht to clear losses of 1,439.57 million baht, while SGC will transfer a total of 856.37 million baht to clear all accumulated losses. This will leave both companies with no accumulated losses in their separate financial statements, allowing them to resume dividend payments. Although SINGER's consolidated financial statements still show accumulated losses of 1,594.81 million baht and SGC's show 856.37 million baht, this move benefits JMART, which is the major shareholder of SINGER and, through SINGER, the major shareholder of SGC. As a result, JMART will receive dividends from both companies. SGC will be a cash cow with its Lock Phone business as a flagship, while JMT remains a growth stock due to its debt investment activities.

Newspapers report that PTT has unveiled a five-year investment plan worth 1 trillion baht, pushing into petroleum exploration and production and infrastructure businesses, with PTTEP as the spearhead for investment, supporting the government's policy to drive Thai GDP growth of 3 percent. PTT will also co-host Gastech 2026 from September 14 to 17, moving ahead to seek partners to strengthen PTTGC, TOP, and IRPC, expanding LNG imports to 15 million tonnes in 2035 and targeting an increase in the share of overseas revenue to 50 percent. Meanwhile, BGRIM is pursuing energy megatrends, developing projects to support PDP 2026 and highlighting data center business as a star after signing power purchase agreements for 100 megawatts, with new customers set to add another 150 megawatts. It is also studying construction of new power plants to support data centers and preparing to bid for Quick Big Win projects to drive community solar of 300 to 500 megawatts. SGC is adjusting its loan portfolio, pushing Lock Phone with a yield of 25 percent and targeting an increase in its share to 65 percent of the portfolio. It is set to sell C4C for no more than 1.3 billion baht and preparing cash to support the high season in the third and fourth quarters of 2026. SINGER-SGC is moving to clear accumulated losses, hoping to unlock dividend payments after SGC has posted profits for eight consecutive quarters. SPCG has been taken over by the Phokachai Pattana group teaming up with Jaruthavee in a deal worth more than 5.527 billion baht, opening a full-scale offensive in green energy business in response to the new PDP 2026 plan and the unlocking of direct power purchase agreements. SPCG is found to hold hidden land assets in the Eastern Economic Corridor of more than 3,000 rai, and is moving ahead to sell electricity directly to customers of the Bangkok Free Trade Zone project of the MK group in Bang Pakong Industrial Estate. ERW is confident that the third quarter of 2026 will be strong, with total revenue growing 7 percent after July average revenue per room rose 5 percent, supported by a bright tourism outlook in the second half, driving full-year revenue growth of 6 percent to 8.4 billion baht. It is advancing the JUMP+ plan toward a target of 10 billion baht in 2028. IND believes the second half of 2026 can maintain good growth momentum after first-half results showed net profit of 13.33 million baht and service revenue of 413.31 million baht. SO continues toward a double-digit growth target, with cumulative revenue plus backlog awaiting recognition at 2.894 billion baht, or 93.2 percent of the full-year revenue target of 3.1 billion baht. THAI is adjusting strategy to cope with surging oil prices, increasing hedging to 60 percent for two years ahead as the Middle East situation looks set to drag on. It plans no reduction in available seat kilometers in the second half and will resume flights on two routes, Xiamen and Da Nang, while increasing frequency on three European routes: Paris, Munich, and Zurich. It is confident of maintaining operating profitability this year, while the aircraft procurement plan continues, with a fleet of 102 aircraft by the end of this year before rising to 128 in 2028. PRM is paying a special dividend of 0.20 baht per share from retained earnings, with the ex-dividend date set for August 27, after second-quarter 2026 results showed net profit of 580.5 million baht, up 20.2 percent, and total service revenue of 2.3171 billion baht, up 4.5 percent. INET is confident of continued growth, developing INET-IDC4 to reflect rising domestic demand for cloud infrastructure and strengthening Thai organizations toward data sovereignty. It is currently developing the EduPass system with the Ministry of Education, expected to launch within six months. SAMART is confident of a strong second-half recovery, benefiting from SAV's busy flights, while the direct coding business has passed its lowest point. It is preparing to bid for new projects worth nearly 10 billion baht, expecting the government to gradually approve and open bidding from October onward, supporting total backlog to exceed 20 billion baht by the end of this year. BAM is accelerating in the second half, generating revenue from non-performing loans, non-performing assets, and joint venture asset management companies toward set targets. It reported second-quarter 2026 collections of 3.513 billion baht, up 16 percent, with profit of more than 234 million baht, up 8 percent, while helping more customers restructure debt through the New Start with BAM program. BCH reported strong third-quarter 2026 operating results as the high season began showing good signs from late May through June, believing foreign customers will continue to recover and drive year-end results higher. It revealed it is in talks on more than 10 merger and acquisition deals and preparing to meet with the Social Security board to adjust capitation rates for all items, expected to be completed by October 2026. TFG is benefiting from high farm-gate pig prices of 72 to 74 baht per kilogram, expected to hold until September, while chicken prices have also edged up. Export demand for chicken in Europe, the United Kingdom, and Japan remains strong. It has locked in soybean and soybean meal prices until the end of 2026 to manage raw material costs, and is expanding retail stores to 875 branches by the end of this year before surpassing 1,075 branches by the end of next year. JR is set to benefit from the new PDP round, creating opportunities for additional system installation work. It signaled that the second half of 2026 will outperform the first half, supported by recognition of additional projects, and is preparing to bid for new electrical projects worth another 100 million baht, boosting backlog from 5 billion baht. It is shifting more toward quick wins to fill its portfolio and generate steady revenue. KUMWEL is building Kumwel Clinic with a target of covering 10 provinces by the end of the year, set to book revenue from the third quarter, while also eyeing BOI Plus incentives worth 100 million baht. The data center megatrend is driving demand for lightning protection and grounding systems, opening opportunities for many new projects. It is confident that 2026 revenue will grow strongly by 50 percent. ORI has laid out a three-year JUMP+ plan to accelerate performance to 1.43 billion baht in 2028, highlighting a build-operate-exit-reinvest model to develop hotels and warehouses for added value before selling into REITs to recycle capital for new investments. In the second half, it is set to book revenue from asset and land sales of another 1.5 to 1.8 billion baht. TOA is adjusting strategy to penetrate the economy paint segment, targeting rental property customers, while expanding in construction and repair chemicals to capture home renovation demand. It is proceeding with planned investment of about 600 million baht, expected to accelerate in late third quarter of 2026, focusing on new production development and targeting sales growth of 5 percent. PRINC has set a 2026 target of revenue growth exceeding 10 percent from the previous year, reaping full-year benefits from new hospital investments and a growing customer base. It said third-quarter 2026 performance will be better than the second quarter, supported by the high season and rising service usage, plus benefits from the Happitat project opening, which will continue to boost Prince Suvarnabhumi Hospital. It is upgrading complex disease services and expanding its foreign customer base to support margins. READY is expanding its Plus Customer base among medium-sized businesses with annual revenue of 30 to 300 million baht, aiming to build recurring revenue beyond its existing share of more than 90 percent. It is accelerating the use of AI to enhance products and internal systems, and launching Ready Agent-R Service, targeting revenue growth of 7 percent this year. PCE signaled a bright second half of 2026, benefiting from domestic demand for B100 biodiesel. It is expanding production capacity at its palm oil refinery for edible oil, expected to be completed in the fourth quarter of 2026 to support food industry growth. It is confident of strong growth in value-added products and manages integrated infrastructure to control costs efficiently across the system, supporting sustainable growth. ORN revealed a bright business outlook for the third quarter of 2026, with a solid backlog of 4.26 billion baht and continuous transfers of low-rise and high-rise projects. It is preparing to launch The Next Jed Yod 4 condominium on August 22, along with sales campaigns, and plans to expand community malls to Phuket, with opening targeted for early 2027.

The board of SGC has approved the sale of its cash-generating car title loan portfolio C4C, worth no more than 1.3 billion baht, to an external party. The move aims to accelerate expansion of its Lock Phone lending business, which yields around 25 percent compared with about 15 percent for C4C. As of 30 June 2026, SGC had a total loan portfolio of about 14.118 billion baht, of which C4C accounted for roughly 4.418 billion baht, or 31 percent, and Lock Phone 8.441 billion baht, or 60 percent, up 30 percent from the end of 2025. After the C4C portfolio sale, the balance is expected to fall to about 3.2 billion baht, and the company will not need to issue additional debentures in the fourth quarter as originally planned. SGC has also set a target for new loan disbursements in 2026 of no less than 14 billion baht, growth of more than 50 percent from about 9.3 billion baht in 2025. Meanwhile, SINGER and SGC plan to propose that shareholders use legal reserves and share premium to offset combined accumulated losses of 2.29595 billion baht, bringing them to zero and opening the way for future dividend payments. Extraordinary general meetings of both companies are scheduled for 29 September 2026, with a record date of 3 September 2026.

Shares of SINGER and SGC rose sharply after they announced major capital restructuring to clear accumulated losses in their separate financial statements totaling over 2.295 billion baht. SGC will transfer legal reserve of 209,379,885 baht and share premium of 646,993,040 baht, totaling 856,372,925 baht, to offset all accumulated losses as of 30 June 2026, leaving no remaining accumulated losses and still retaining share premium of 2,535,280,527 baht. It also approved selling a car loan portfolio worth no more than 1.3 billion baht to a non-related juristic person. SINGER will transfer legal reserve of 82,820,154 baht and share premium of 12,334,930,378 baht to offset accumulated losses of 1,439,576,040 baht, bringing its separate financial statements back to no accumulated losses as well. Both companies set the record date for 3 September 2026 and will hold extraordinary general meetings of shareholders via electronic media on 29 September 2026. This move is seen as a major housecleaning to build confidence and pave the way for resuming dividend payments in the future.

Fourteen companies listed on the Stock Exchange of Thailand reported second-quarter net profit for fiscal 2569 growing more than 1,000 percent from the same period last year. B.Grimm Power Public Company Limited, or BGRIM, posted net profit of 675.97 million baht, up 9,773.97 percent from 6.85 million baht. That was followed by Wincost Industrial Park Public Company Limited, or WIN, with net profit of 2.75 million baht, up 5,553.90 percent, and Maybank Securities Thailand Public Company Limited, or MST, with net profit of 82.97 million baht, up 3,691.95 percent. Rompho Property Public Company Limited, or TITLE, recorded net profit of 250.74 million baht, up 3,256.68 percent, while RPCG Public Company Limited, or RPC, posted net profit of 18.91 million baht, up 2,458.46 percent. Christiani & Nielsen Thai Public Company Limited, or CNT, reported net profit of 158.73 million baht, up 1,938.40 percent, and The Steel Public Company Limited, or THE, posted net profit of 94.38 million baht, up 1,422.67 percent. Seafresh Industry Public Company Limited, or CFRESH, recorded net profit of 82.65 million baht, up 1,413.92 percent, while T.K.S. Technologies Public Company Limited, or TKS, posted net profit of 168.93 million baht, up 1,310.82 percent. Eastern Water Resources Development and Management Public Company Limited, or EASTW, reported net profit of 64.30 million baht, up 1,282.56 percent, and S. Pack & Print Public Company Limited, or SPACK, posted net profit of 13.88 million baht, up 1,275.98 percent. Pacific Pipe Public Company Limited, or PAP, recorded net profit of 298.90 million baht, up 1,125.00 percent, while Singer Thailand Public Company Limited, or SINGER, posted net profit of 148.84 million baht, up 1,095.30 percent. Amata Corporation Public Company Limited, or AMATA, reported net profit of 1.58 billion baht, up 1,032.15 percent. Finansia Syrus Securities Public Company Limited, or FSS, said overall listed-company profit in the second quarter of fiscal 2569 came in about 11 percent above expectations, and it expects third-quarter fiscal 2569 still has room to grow from commodity prices and economic stimulus measures. The firm also significantly raised its full-year 2569 earnings-per-share estimate for the SET and maintained its mid-2570 SET index target at 1,710 points.

Singer Thailand Public Company Limited, or SINGER, expects third-quarter revenue to grow another 25% thanks to continued strong mobile phone sales, and is preparing to launch new products under its lockable appliance program on September 28, which will help lift margins and reduce bad-debt risk. The company is also moving ahead with 44 additional branches in the third quarter, part of a full-year target of 146 branches, and will hold a major seminar called The New Singer on the same day to announce key strategies. Its partnership with SG Capital Public Company Limited, or SGC, remains a positive factor for consolidated results in the third and fourth quarters, as SGC continues to expand its lockable mobile phone loan portfolio while keeping asset quality well under control. In the rooftop solar lending business, the company is the sole distributor, with SG Finance providing loans since the second quarter, and it sees clear demand trends that should drive sales from the third quarter onward. With liquidity of more than 1 billion baht in cash on hand, the company is considering suitable investment plans and is open to feedback on share buybacks if no projects meet its targeted returns of 12 to 15 percent.

Adisak Sukumvitaya, Chief Executive Officer of Jaymart Group Holdings Public Company Limited, or JMART, presented the company's business overview at the Opportunity Day event organized by the Stock Exchange of Thailand on August 17, 2026. He said the group is ready to move toward a new phase of growth by focusing on using technology to drive the mobile phone business in which the company has more than 30 years of expertise, especially the locked-phone business segment, which is expected to be a key supporting factor. The smartphone market is about 17 million units per year, and consumers are shifting toward higher-priced smartphones. The company is therefore joining forces with leading brands through the platforms of SG Capital Public Company Limited, or SGC, and KBJ Capital Company Limited, which have been able to generate profits continuously. This growth is also supported by distribution networks such as Jaymart Mobile and Singer Thailand Public Company Limited, or SINGER, as well as support from JMT Network Services Public Company Limited, or JMT, in using databases to screen customer quality more accurately. As for JMT's debt management business direction, it is expected to continue growing well in the second half of the year. Although new debt purchases may not be as high in volume as in the past, the company believes that non-performing loans in the system will continue to flow out steadily. For future growth plans, JMART aims to list three subsidiaries on the Stock Exchange of Thailand: Suki Tee Noi, KBJ, and J Ventures, which is the company that oversees the group's technology operations. All three companies are currently ready and are in the process of considering the appropriate timing for fundraising. Regarding the financial stability of the JMART group, it is currently very strong, with an interest-bearing debt to equity ratio of only 0.61 times. The company has already prepared funding sources to support the repayment of debentures maturing this October totaling 1.612 billion baht, from cash on hand, liquid assets, a plan to issue new debentures to replace the existing ones, and dividends from subsidiaries. The company is therefore confident that there will be no problem in repaying the debentures. Meanwhile, on the progress of BNN Restaurant Group Company Limited, the operator of Suki Tee Noi restaurants, the company currently has five restaurant brands under its umbrella: Suki Tee Noi, Suki Tee Noi Plus, Tee Noi Go, Tee Noi Barbecue, and Nai Pan Moo Krata. As of the end of July, there were 134 branches in total covering 42 provinces, with plans to open branches in 17 more provinces within this year, which will bring total coverage to 59 provinces before expanding to all 77 provinces nationwide next year. For the operating performance of the Suki Tee Noi restaurant business, in the second quarter total sales were 2.915 billion baht, growing 13 percent compared with the previous quarter, driven by continuous new branch openings averaging four to five branches per month. Net profit was 165 million baht, down slightly from the previous quarter due to selling expenses and promotional activities during new branch openings, as well as higher set-up costs for new branches, even though the company was able to manage raw material costs better overall.

Jaymart Group Holdings has unveiled a plan to drive profit through its business ecosystem, targeting net profit of 2 billion baht by 2028 under the JUMP+ plan, with mobile phone lending as a key mechanism. The lock phone portfolios of SGC and KB J Capital together exceed 21 billion baht, supporting Jaymart Mobile's first-half net profit of 128 million baht, up 146 percent from the same period last year. The company expects second-half growth to outpace the first half and aims for a record full-year profit this year. Meanwhile, JMT has set a debt purchase budget of about 2 billion baht this year and expects ECL to trend lower. SGC targets new lending of no less than 14 billion baht. SINGER is preparing to launch new products and lock appliance offerings in September. Suki Tee Noi is accelerating branch expansion to 160 locations, and JAS Asset is pushing Hotel and Wellness as an additional growth driver. The group is preparing to list Suki Tee Noi, KB J Capital, and J Ventures on the stock exchange.

Singer Thailand Public Company Limited, or SINGER, announced its JUMP+ programme, targeting net profit growth to 1.1 billion baht in 2028 through three main strategies: raising product margin from 25.4% in 2025 to 40% in 2028, expanding its nationwide network and sales points, with a target in 2026 of adding 1,000 direct sales staff, expanding to 146 branches and 800 dealer channels, and driving the organisation with AI technology including an AI chatbot and an automatic commission calculation system. For the third quarter of 2026, the company expects revenue to grow 25% from the previous quarter, supported by mobile products and the addition of 44 new branches, and it is preparing to launch new lockable electrical appliances at a press conference on 28 September 2026.

Jaymart Group reported a strong recovery in second-quarter 2026 results, with JMART posting a net profit of 313.6 million baht, up 57.7% from a year earlier, bringing first-half profit to 588.9 million baht, an increase of 20.1%. SINGER swung to a net profit of 148.84 million baht, surging 1,193.92% from a loss of 13.61 million baht a year ago, while SGC posted a net profit of 203.50 million baht, up 186.45%. J narrowed its loss to 56.14 million baht from a loss of 101.41 million baht. JMT reported a profit of 233.96 million baht, down 5.08%. Share prices have risen sharply across almost the entire group since the start of 2026. As of 11 August 2026, JMART stood at 10.70 baht, up 55.07%; SINGER at 11.70 baht, up 139.75%; SGC at 1.64 baht, up 95.24%; J at 0.85 baht, up 21.43%; and JMT at 11.90 baht, up 36% from the end of 2025. The key driver of the recovery is the Lock Phone lending business, which JMART has positioned as one of its growth engines, using the networks of Jaymart Mobile, SINGER, SGC and KBJ Capital to expand its customer base for phone financing and digital lending.

Singer Thailand Public Company Limited, or SINGER, reported a second-quarter 2026 net profit of 149 million baht, the highest level since early 2023, compared with a loss of 14 million baht in the same period last year. Total revenue rose 28.7% to 1.102 billion baht, bringing first-half net profit to 292 million baht and total revenue to 2.115 billion baht, up 30.3%, supported by mobile phone sales expanding through the SG Finance+ platform and interest income rising 17.8% to 1.532 billion baht. For the third quarter of 2026, the company targets sales growth of 25% from the previous quarter and plans to launch Lock Appliance in late September to extend the Lock Phone model into the electrical appliance segment. Meanwhile, subsidiary SG Capital Public Company Limited, or SGC, reported a second-quarter 2026 net profit of 203.50 million baht, up 186.42% year-on-year and the highest since its listing on the stock exchange. First-half net profit reached 379.71 million baht, up 229.29%, as Lock Phone became the number one credit portfolio, accounting for 60% of total credit, while expected credit losses fell 25.35% in the second quarter. SGC targets new loan disbursements of no less than 14 billion baht in 2026, growing more than 50% from 9.3 billion baht in 2025.

SINGER and SGC reported strong profit growth for the second quarter of 2026. SINGER swung to a net profit of 149 million baht, its highest in more than three years, from a loss of 14 million baht in the same period last year. SGC posted a net profit of 203.50 million baht, up 186.42 percent, a record high since its listing on the stock exchange. Growth was mainly driven by the Lock Phone business under SG Finance+ loans. In the first half, SGC originated 6.221 billion baht of Lock Phone loans, up 64 percent, accounting for 97 percent of all new loan originations. The Lock Phone loan portfolio rose to 8.441 billion baht, or 60 percent of total loans. SGC targets new loan originations of no less than 14 billion baht in 2026, growth of more than 50 percent from 9.3 billion baht in 2025.

Jaymart Group Holdings Public Company Limited, or JMART, reported net profit attributable to shareholders for the first six months of 2026 at 375.7 million baht, up 49.5% from the same period last year. Second-quarter net profit was 213.0 million baht, up 91.9% from 111.0 million baht a year earlier. Key drivers included the mobile phone and accessories distribution business and higher profit sharing from joint ventures and associates, especially JK AMC, KB J, SINGER, and Suki Tee Noi. JMART recognized profit sharing from joint ventures of 80.4 million baht in the second quarter, up 19.3%, and 195.4 million baht in the first half, up 34.2%. Profit sharing from associates in the first half was 272.0 million baht, up 7.4%. The mobile business under Jaymart Mobile Company Limited posted second-quarter net profit of 71.2 million baht, up 137%, and first-half net profit of 128 million baht, up 146%, with first-half revenue of about 5.07 billion baht. JMART is driving its Synergy Ecosystem through three core engines: the mobile phone lending business under KB J, which had a loan portfolio of 12.58 billion baht across 1.40 million accounts as of 30 June 2026, and SG Finance+ with a loan portfolio of 8.44 billion baht, together exceeding 21 billion baht; the non-performing asset management business under JMT; and investments and partnerships. Suki Tee Noi posted second-quarter revenue of 2.97 billion baht and net profit of 165 million baht, with first-half net profit of 335 million baht. JMART holds a 30% stake and recognized profit sharing of 100.5 million baht. Suki Tee Noi targets 2026 revenue of 13 billion baht. It currently has 134 branches across 42 provinces, plans to enter 17 more provinces this year, and is looking at another 18 provinces over the long term. JMT reported second-quarter total revenue of 1.13 billion baht and net profit of 234.0 million baht, with first-half total revenue of 2.25 billion baht and net profit of 486.2 million baht. It invested 1.13 billion baht in purchasing non-performing loans. JMT and JK AMC collected 2.15 billion baht in the second quarter, up 0.4% from the previous quarter, and 4.29 billion baht in the first half. As a result, JMT recognized profit sharing from JK AMC of 195.8 million baht in the first half, up 35.8%. JMT's board approved an interim dividend of 0.27 baht per share, with the ex-dividend date on 24 August 2026 and payment on 11 September 2026. SINGER posted second-quarter net profit of 149 million baht, its highest since early 2023, while SGC posted net profit of 203.5 million baht, up 186.4%, a record high since its listing on the stock exchange.

Phillip Securities noted that SINGER reported second quarter 2569 earnings of 149 million baht, up 1,095.3% from a year earlier and 4.1% from the previous quarter, driven by sharply higher sales revenue and interest income, while provisioning declined. Total loans grew 1.7% from the previous quarter and returned to growth of 1.5% from the end of 2568, with locked phone loans continuing to expand and rising to 59.7% of total loans, lifting loan yields and interest spreads. NPLs fell to 13% from 14.1%. The broker raised its 2569 profit forecast to 579 million baht on lower than expected provisioning and switched to a 2570 target price of 14 baht, maintaining a buy recommendation.