On Thursday at 10:37 AM (Bangkok time), the share price of Light Up Total Solution Public Company Limited (mai: LTS) jumped by 7.69% or THB 0.90 to THB 12.60, with a trading value of THB 21.38 million.
Infraset Public Company Limited (SET: INSET) soared by 4.35% or THB 0.12 to THB 2.88, with a trading value of THB 34.30 million.
Beryl 8 Plus Public Company Limited (mai: BE8) surged by 1.39% or THB 0.20 to THB 14.60, with a trading value of THB 6.81 million.
WHA Corporation Public Company Limited (SET: WHA) rose by 1.64% or THB 0.08 to THB 4.96, with a trading value of THB 269.03 million.
Amata Corporation Public Company Limited (SET: AMATA) grew by 0.98% or THB 0.25 to THB 25.75, with a trading value of THB 15.99 million.
Gulf Energy Development Public Company Limited (SET: GULF) increased by 0.42% or THB 0.25 to THB 60.25, with a trading value of THB 191.08 million.
Krungsri Securities (KSS) noted that the Data Hosting initiative by affiliate firms under TikTok Pte. Ltd. is preparing to deploy servers and equipment within the data center infrastructure, with an estimated worth of THB 126 billion. The analyst projects a favorable market sentiment for companies engaged in data center-related contract projects like INSET, infrastructure technology or energy facilities like GULF, and telecommunication firms such as ADVANC and INTUCH.
Maybank Securities (Thailand) highlighted that Thailand has been encouraged by a favorable indication from the Board of Investment (BOI), with the announcement of the initial approvals in 2025 for three investment promotion ventures valued at THB 170 billion.
Significantly, two of these projects constitute 76% of the total investment, predominantly focused on digital infrastructure enterprises such as the establishment of servers, data centers, and cloud systems. This development is anticipated to foster a positive market sentiment for technology service equities like BBIK and BE8, as well as industrial estate stocks, including AMATA and WHA.
KGI Securities (Thailand) stated that the BOI sanctioned projects by TikTok and Siam AI on January 29, 2025, totaling THB 170 billion. The endorsed initiatives encompass the deployment of servers and data centers for TikTok’s Data Hosting project, the Cloud AI system developed by Siam AI, and the establishment of a Potassium Chloride Plant.
The analyst predicts that investment applications to the BOI in 2025 will continue to show strength, with a projected total value of at least THB 1 trillion, compared to the THB 1.14 trillion recorded in 2024. Additionally, the analyst maintains the projected land sales for AMATA and WHA in 2025 at 2,500 rai.
While the TikTok project’s locations in Bangkok, Chachoengsao, and Samut Prakan may not directly benefit AMATA and WHA, the analyst believes that Siam AI’s investments in Chonburi and Pathum Thani offer growth potential for both companies. Notably, the analyst envisions a more positive outlook for AMATA following the analyst meeting, as WHA is anticipated to adopt a more conservative approach in 2025.
Furthermore, KGI Securities (Thailand) anticipates that ADVANC and TRUE will experience advantages from the expansion of 5G services and enterprise solutions. The positive sentiment surrounding increased electricity demand is expected to benefit GULF. Additionally, GULF’s involvement in the data center deal with Siam AI and their collaborative efforts in developing cloud AI services are poised for further enhancement.
