Union Petrochemical Public Company Limited

The Thai stock market remains volatile, but several stocks on the mai market have seen net profit surge due to fundamentals and business trends. PSGC is expanding its coal energy business, recognizing revenue from long-term G2G contracts between Laos and Vietnam. UKEM benefits from chemical inventory management and expansion of its bio line. TRT gains from government and private project deliveries, as well as the growth of data centers. NDR posted profits of 8 million baht in 2024, 21 million baht in 2025, and 34 million baht in the first half of 2026, driven by premium products and recovering export markets. TRV has good cost management, higher margins, and is expanding into the medical industry. SICT, the developer of the SIC brand microchips, posted a first-half profit of 62 million baht and a full-year 2025 profit of 80 million baht. However, investors should be cautious about liquidity and short-term price fluctuations.

Union Petrochemical Public Company Limited, or UKEM, announced that at its 5th Board of Directors meeting for 2026, held on August 14, 2026, a resolution was passed to approve the dissolution of Eco Centric Corporation Limited, a subsidiary in which UKEM holds a 51% stake. The subsidiary is no longer operating, and its dissolution will help reduce administrative expenses without affecting UKEM's operations. The other shareholders, holding a combined 49% stake, agreed with this action. UKEM expects to register the dissolution by September 2026 and will proceed with liquidation in accordance with legal procedures. This dissolution does not constitute a connected transaction and its size does not meet the threshold requiring disclosure under the rules on acquisition or disposal of assets of listed companies.

UKEM shares rose 13.04% to 1.56 baht after the company reported second-quarter net profit for fiscal 2026 of 238.70 million baht, up 1,518.22% from the same period last year. Revenue from sales and services was 998.86 million baht, up 42.85%. The main driver was higher product prices in the market amid the Middle East situation, which lifted the average selling price per kilogram, while cost of sales rose at a slower rate. The company also booked gains from inventory purchased in the first quarter of fiscal 2026 and sold in the second quarter, when market prices were higher. For the first six months of fiscal 2026, net profit was 338.41 million baht, up 1,031.51% from the same period last year. The company has also invested more than 200 to 300 million baht in warehouses and is preparing to launch a solvent recycling business with additional investment of about 200 to 300 million baht. Operations are expected to begin in the fourth quarter of fiscal 2026, with revenue recognition starting from 2027 onward. The company is also in the process of moving its listed securities from the Market for Alternative Investment to the Stock Exchange of Thailand, with progress expected in the next quarter.