SCBS 24/12/2564 : Today IPO NV @ Bt 6.90 listing in SET/Person sector (vs MEGA DOD)/ MAKRO PO 770 mil.shs to trade and SINGER 96,341,464 shs. trading today

***SCB share swap in mid2565 Key drivers CARDX AUTOX

SCBX ROE target 20% next 5 yrs

KBANK+JMT/ BAY+XIPMAX/

Today Christmas Eve Holiday in Asia HK Philippines/ Europe UK France Germany/ US

Market Talk on EV Tax stimulus Bt 150,000 / car +++Auto sector Prefer AH

Overweight Bank Prefer KBANK BBL and positive newsflow on SCB share swap in mid2565 Key driver CARDX AUTOX /SCBX ROE target 20% next 5 yrs. SCBX and BITKUB+SCBS to process in 1Q’65

PTT outperform tp Bt 50 base on DCF and SOTP. PTT ytd -12% vs SET +12% vs energy sector +5%. PTT core business on Gas and Renew.& EV theme

Commerce OW Prefer HMPRO CRC CPN

Refinery Play Prefer BCP

Media prefer ONEE

Telecom Prefer ADVANC

Property Prefer SPALI LH and Trading ORI SIRI