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AIS profit dips 7.7% but mobile leader beats forecasts

Boris Sullivan

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Advanced Info Service Plc said yesterday that its third-quarter net profit declined 7.7% from a year earlier because of the weak economy. The country’s largest mobile operator told the Stock Exchange of Thailand that its net income fell to 4.18 billion baht, or 1.41 baht a share, from 4.53 billion, or 1.53 baht a share, a year earlier.

The result was better than the median estimate of 3.96 billion baht from 11 analysts surveyed by Bloomberg.

Nine-month consolidated net profit was 12.95 billion baht (4.37 baht a share), down 19% from 15.99 billion (5.40 baht a share) in the same period last year.

aisAIS said its third-quarter revenue fell 9% year-on-year to 24.9 billion baht. It had cut its revenue outlook for the year in August because of higher oil prices and political uncertainty.

The company added 380,000 net new subscribers in the third quarter, down from 809,000 a year earlier but up from 320,000 in the previous quarter.

At the end of September, AIS had 28.3 million subscribers and second-ranked DTAC had 19.3 million.

More :  AIS profit dips 7.7% but mobile leader beats forecasts.

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Corporate

Covid-19 puts flexible space markets under strain

In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.

Daniel Lorenzzo

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The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

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Thailand’s automotive sector expected to produce 1.4m cars this year

This increase in output is a result of the recovery of domestic and export markets, with the annual output for 2021 expected to be around 1.4 million.

National News Bureau of Thailand

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Thailand Automotive Institute (TAI) anticipates the overall output from Thailand’s automotive sector this year to be around 1.4 million cars. They are, however, still cautious over automobile exports until at least March this year, due to the resurgence of COVID-19 cases around the world.

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Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam

The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.

Pr News

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Asset World Corporation (AWC) has launched the region’s largest wholesale hub in the Pratunam area of Bangkok, housed in the old Pantip Plaza tech mall.

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