รอบด้านตลาดหุ้น 7 พฤศจิกายน 2556research2.bualuang.co.th/upload/bls131107.pdf · See disclaimer at the end of report รอบด้านตลาดหุ้น

See disclaimer at the end of report

รอบดานตลาดหน

7 พฤศจกายน 2556

มมมองตลาด:

การประทวงตอตานพรบ.นรโทษกรรมลดความรนแรงลงหลงจากสมาชกวฒสภามากกวารอยคนจะโหวตคดคานพรบ.ในการพจารณาในวนท 11 พ.ย. น กระบวนการแกไขพรบ.จะตองใชเวลาแมในกรณทไดรบความเหนชอบจากวฒสภาแลว อาจใชเวลาถง 60 วนเพอแกไขและลงมต ในกรณทหากพรบ.ถกคดคานจากวฒสภา สภาผแทนราษฎรจะตองรอ 180 วนกอนทจะท าการโหวตอกครง สถานการณดงกลาวจะลดความกดดนในตลาด สงผลใหดชนตลาดปรบตวขนตอเนอง +3% นบจากวนท 5 พ.ย.เปนตนมา สญญาณทางเทคนคชวาดชนทะลเสนคาเฉลย 200 วน 1430จดและยนระยะไดเปนผลส าเรจ ปจจบนตลาดปรบตวขนมาแลวทงสน 3.2% จากจดต าสด 1387 จด ค าถามตลาดมความเสยงมากนอยหลงจากดชนปรบตวขนมาทะลระดบ 1430 จด ในการวเคราะหทางเทคนคมขอดคอเราสามารถรแนวโนมความเสยงของตลาดวาอย ในชวงปลายทางขาขนหรอจดกลบตวหรอไม ซงหากตลาดหนปรบตวขนจรงสงทควรจะสอดคลองคอพวกเครองมอทางเทคนคกควรจะชขนหรอปรบตวไปในทศทางเดยวกน อกจดทเราจะเชคคอเรองของกระแสเงนลงทน โดยสรปจะม 3 ขอคอ: 1.โมเมนตมของตลาดทขนมารอบน ปจจบนการปรบตวขนของตลาดสามารถไปในทศทางเดยวกนกบเครองมอทางเทคนค Continuation pattern 2.หนกลมธนาคาร ปโตเคม และวสดกอสรางซงเปนหนขนาดใหญมองสญญาณดดขนเนองจากการยนเหนอเสนคาเฉลยระยะสนได (EMA 10&25 days) 3. ดชน RSI ของหนหลายตวแสดงระดบต าสดทสงขน ซงเปนสญญาณเชงบวก นนหมายความวาราคาหนมแนวโนมกลบมาฟนตวตอเนอง สรปภาวะตลาด: มองการดดขนจงหวะการลงทนระยะสนใชเสนคาเฉลย 3&5 วน 1420 จดเปนหลกหากดชนยงยนเหนอแนวรบทใหไวไดกยงคงมองสญญาณในดานบวก สวนแนวตานมองบรเวณ 1460 จด

ธนรตน อศรกล Tel. (662) 618-1334

สรปภาวะตลาด 6 พฤศจกายน 2556

ดชนตลาดหลกทรพยไทย

เปลยนแปลง % การ

เปลยนแปลง 1วน

% การเปลยนแปลง YTD

1434.97 19.53 1.38% 37.66%

มลคาการซอขาย (ลานบาท) 43,539.29

ยอดการซอขาย (ลานบาท)

ซอ ขาย สทธ

นกลงทนสถาบน 6426.80 4,082.5 2,344.3

0.15 9%

Proprietary Trading 5765.88 4,359.0 1,406.9

0.13 10%

นกลงทนตางประเทศ

9768.64 11,659.1 -1,890.5

0.22 27%

ลกคาทวไป 21577.96 23,438.6 -1,860.7

0.50 54%

5 อนดบหลกทรพยทมยอดซอขายสงสด

หลกทรพย ราคาปด เปลยนแปลง

(บาท) ยอดซอขาย (ลานบาท)

ADVANC 242.00 -5.00 3,930

JAS 8.30 0.00 2,585

SCB 166.50 6.00 2,284

INTUCH 82.00 -1.50 1,963

TRUE 8.35 -0.05 1,948

การเคลอนไหวของดชนรายกลม

กลม ปด %เปลยนแปลง

Commerce 27673.18 3.22

Petrochem 1031.89 2.29

Food 10208.11 1.89

Property 283.41 1.80

Bank 543.70 1.75

Media 83.11 1.59

Energy 20307.08 1.48

SET 1434.97 1.38

Electronics 1077.65 1.19

ดชนตางประเทศ

ปด

% การเปลยนแปลง 1วน

% การเปลยนแปลง YTD

DJIA 15,746.88 0.82 34.93

NASDAQ 3,931.95 -0.20 46.09

FTSE 6,741.69 -0.08 12.10

NIKKEI 14,337.31 0.79 37.88

HSKI 23,036.94 -0.01 -1.70

Dubai ($bbl) 104.57 -0.06 14.31

THB/USD 31.25 -0.07 3.89

MLR (BBL)% 7.00

BOT 1DRP% 2.50

CPI (Oct)% 1.46

รอบดานตลาดหน - 2

ปจจยทมผลกระทบตอตลาด

นายกฯประกาศยตนรโทษ'เพอไทย'ลนพรอมปลอยตก'ฉบบสดซอย' มตวปรฐบาลถอนรางพ.ร.บ.นรโทษกรรม-พ.ร.บ.ปรองดอง 6 ฉบบพนสภา นายกรฐมนตรแถลงยนยนไมน ารางพ.ร.บ.นรโทษกรรมขนมาพจารณาอก"ภมธรรม"ย า"เพอไทย"จะปลอยราง"นรโทษสดซอย"ตกไป หากวฒสภาคว ารางกฎหมาย และไมเสนอกฎหมายทสรางความขดแยงในสงคมอก ขณะทวปรฐบาลถอนรางพ.ร.บ.ปรองดองนรโทษกรรม ทคาสภา 6 ฉบบ ปองกนปชป.ตกนทางการเมอง เตรยมเสนอทประชมสภาผแทนราษฎรลงมตวนพธหนา ขณะทวปวฒสภาเคาะถกรางนรโทษ 11 พ.ย. (หนงสอพมพกรงเทพธรกจ) รฐกเพมยอดพง 6.4 แสนลานบาท ชาวนาขจดมอบทวงคาขาว รฐบาลขยายกรอบวงเงนหมนเวยนในโครงการจ าน าขาวจาก 5 แสนลาน เปน 6.4 แสนลาน เผยกระทรวงพาณชยไมสามารถระบายขาวไดตามแผน ขาดเงนจ าน าขาวป 2556/57 ขอคลงกอหนเพมใหเปนการชวคราว 1.4 แสนลานบาท "นวฒนธ ารง" ปดยงไมมวาระกเพม แจงขาดทนจ าน าขาว 2 ปไมถง 2.6 แสนลาน ชปดบญชน าคาใชจายอนและโครงการรฐบาลกอนมารวมดวยเกอบ 1.6 แสนลานท าตวเลขพง ดานชาวนาสดทนขประทวงรฐจายเงนคาขาวลาชา เกณฑคนรวมมอบนรโทษ (หนงสอพมพกรงเทพธรกจ) เอกชนลนหวนการเมองปะท นายธนต โสรตน รองประธานสภาอตสาหกรรมแหงประเทศไทย (ส.อ.ท.) กลาววา หลงจากทนายกรฐมนตรไดออกมาแสดงแนวคดวาอาจจะถอยราง พ.ร.บ.นรโทษกรรม และวฒสภากมแนวโนมวาจะไมใหราง พ.ร.บ.ฉบบนผานการพจารณา ในภาคเอกชนมองวายงไมเพยงพอทจะสรางความมนใจใหกบ ผประกอบการ เนองจากแมวาวฒสภาจะไมรบราง พ.ร.บ. แตกยงเปนระเบดเวลาอก 180 วน ทสภาผแทนราษฎรจะเสนอกลบไปใหมได ท าใหในหวงเวลาดงกลาวผประกอบการนกลงทนทงในประเทศ และตางประเทศ กจะตองรอดความชดเจนในเรองน ท าใหการลงทนอาจหยดชะงก ซงทางออกทดนน รฐบาลควรจะประกาศถอนราง พ.ร.บ.ฉบบนออกไปเลย เพอใหทกฝายเกดความมนใจ (หนงสอพมพบานเมอง) ฟนธงมอบฉดทองเทยวรวง เอกชนคาดรายไดหายหมนลาน กรมการทองเทยวเรงชแจงสถานการณบานเมอง ประเมนนกทองเทยวจะลดลงเดอนละ 10% ดานเอกชนหวนลกทวรขอ เลอน คาดสนปสญรายไดกวาหมนลานบาท ดานกระทรวงการตางประเทศเผย 8 ชาตออกประกาศเตอนพลเมองเดนทางเขาประเทศไทย แนะเลยงพนทการชมนมเปนหลก (หนงสอพมพไทยโพสต) เครดตบโรยนหนเสยเอาอย แบงกคมเขมคณภาพสนเชอ เครดตบโรแจงหนบคคลยงไมนาหวง คางช าระ 3 เดอนแค 3% นายสรพล โอภาสเสถยร ผจดการใหญบรษท ขอมลเครดตแหงชาต (เครดตบโร) เปดเผยวา ปญหาหนภาคครวเรอนขณะนยงไมพบสญญาณผดปกต เพราะสถาบนการเงนมความเขมงวดมากขนบญชสนเชอบาน รถยนต และบตรเครดตมการคางช าระเกน 3 เดอนขนไปทเปนหนสงสยจะสญอยทประมาณ 3% ของสนเชอทงระบบจงยงไมนาเปนหวง (หนงสอพมพโพสตทเดย)

ชยพร นอมพทกษเจรญ Tel. (662) 618-1330-1


รายงานตวเลขเศรษฐกจส าคญประจ าสปดาห

United States

Economic Releases

Date Event Period Survey Actual Prior Revised Relevance

4/11/2013 ISM New York Oct -- 59.3 53.6 -- 9.82143

4/11/2013 Aug./Sept. Factory Orders Released Jointly 0

4/11/2013 Factory Orders Aug 0.00 -0.001 -0.02 -0.028 84.8214

4/11/2013 Factory Orders Sep 0.02 0.017 -- -0.001 84.8214

5/11/2013 ISM Non-Manf. Composite Oct 54.00 55.4 54.40 -- 73.2143

5/11/2013 IBD/TIPP Economic Optimism Nov 42 41.4 38.4 -- 12.5

6/11/2013 MBA Mortgage Applications 1/11/2013 -- -0.07 0.06 -- 92.3077

6/11/2013 Challenger Job Cuts YoY Oct -- -0.042 0.19 -- 32.1429

6/11/2013 Leading Index Sep 0.01 0.007 0.01 -- 83.0357

7/11/2013 Initial Jobless Claims 41580 335K -- 340K -- 98.2143

7/11/2013 Continuing Claims 26-Oct 2875K -- 2881K -- 68.75

7/11/2013 GDP Annualized QoQ 3Q A 0.02 -- 0.025 -- 96.4286

7/11/2013 Personal Consumption 3Q A 0.016 -- 0.018 -- 67.5

7/11/2013 GDP Price Index 3Q A 0.01 -- 0.01 -- 77.1429

7/11/2013 Core PCE QoQ 3Q A 0.015 -- 0.006 -- 67.5

7/11/2013 Bloomberg Consumer Comfort 41581 -- -- (37.60) -- 63.3929

7/11/2013 Mortgage Delinquencies 3Q -- -- 0.07 -- 27.6786

7/11/2013 MBA Mortgage Foreclosures 3Q -- -- 0.03 -- 16.0714

8/11/2013 Consumer Credit Sep $12.000B -- $13.625B -- 39.2857

8/11/2013 Change in Nonfarm Payrolls Oct 120K -- 148K -- 99.1071

8/11/2013 Two-Month Payroll Net Revision Oct -- -- -- -- 3.57143

8/11/2013 Change in Private Payrolls Oct 125K -- 126K -- 22.3214

8/11/2013 Change in Manufact. Payrolls Oct 5K -- 2K -- 69.375

8/11/2013 Unemployment Rate Oct 0.07 -- 0.07 -- 89.1964

8/11/2013 Average Hourly Earnings MoM Oct 0.00 -- 0.00 -- 18.75

8/11/2013 Average Hourly Earnings YoY Oct 0.02 -- 0.02 -- 16.9643

8/11/2013 Average Weekly Hours All Employees Oct 34.50 -- 34.50 -- 17.8571

8/11/2013 Change in Household Employment Oct -- -- 133.00 -- 14.2857

8/11/2013 Underemployment Rate Oct -- -- 0.14 -- 11.6071

8/11/2013 Personal Income Sep 0.00 -- 0.00 -- 83.9286

8/11/2013 Labor Force Participation Rate Oct -- -- 0.63 -- 0

8/11/2013 Personal Spending Sep 0.00 -- 0.00 -- 83.9286

8/11/2013 PCE Deflator MoM Sep 0.00 -- 0.00 -- 6.25

8/11/2013 PCE Deflator YoY Sep 0.01 -- 0.01 -- 33.9286

8/11/2013 PCE Core MoM Sep 0.10% -- 0.20% -- 58.75

8/11/2013 PCE Core YoY Sep 0.013 -- 0.012 -- 36.6071

8/11/2013 Univ. of Michigan Confidence Nov P 74.5 -- 73.2 -- 92.8571

Economic Events


4/11/2013 Fed's Powell Speaks on Monetary Policy in San Francisco

4/11/2013 CABC Annual Ottawa Summit

5/11/2013 U.S. Treasury Annouces Quarterly Borrowing Estimates

5/11/2013 Fed's Rosengren Speaks on Economy in Boston

5/11/2013 Fed's Lackers Speaks with Johnson C. Smith University Students

5/11/2013 U.S. CFTC Meets to Revise Rules on Derivatives Position Limits

5/11/2013 Obama to Meet With Business Leaders to Discuss Immigration

6/11/2013 Fed's Lacker Speaks on Labor Market in North Carolina

6/11/2013 Bank of Canada Deputy Governor Murray Speak on Panel

6/11/2013 Fed's Williams to Speak to Reporters in San Francisco

6/11/2013 U.S. Treasury Announces Quarterly Refunding

6/11/2013 U.S. SEC Chairwoman White Speaks at the PLI Annual Conference

6/11/2013 Puerto Rico's Acosta Speaks at BLINK State Finance Conference

7/11/2013 Fed's Pianalto Speaks on Housing and Economy in Columbus, Ohio

7/11/2013 Treasury Secretary Lew Visits Gaithersburg Telecomms Exporter

7/11/2013 Former Treasury Secretary Summers Speaks on U.S. Economy

7/11/2013 U.S. Retailers Report October Sales

8/11/2013 Fed's Dudley to Speak at Economic Policy Forum in NY

8/11/2013 Fed's Stein Speaks on Securities Transactions in Chicago

8/11/2013 U.S. President Obama Speaks on the Economy in New Orleans

China

Economic Releases


5/11/2013 HSBC/Markit Services PMI Oct -- 52.6 52.4 -- 40

8/11/2013 Trade Balance Oct $24.70B -- $15.21B -- 70

8/11/2013 Exports YoY Oct 0.019 -- -0.003 -- 66.6667

8/11/2013 Imports YoY Oct 0.074 -- 0.074 -- 63.3333

Economic Events

5/11/2013 China-Portuguese Forum on Trade and Economic Cooperation


Sources: Bloomberg

Japan

Economic Releases


5/11/2013 Monetary Base YoY Oct -- 0.46 0.46 -- 76.1364

5/11/2013 Monetary Base End of period Oct -- ¥189.8T ¥185.6T -- 6.81818

7/11/2013 Bloomberg Nov. Japan Economic Survey (Table) 0

7/11/2013 Tokyo Avg Office Vacancies Oct -- -- 7.90 -- 13.6364

7/11/2013 Leading Index CI Sep P 109.40 -- 106.80 -- 56.8182

7/11/2013 Coincident Index Sep P 108.3 -- 107.6 -- 27.2727

8/11/2013 Japan Buying Foreign Bonds 1/11/2013 -- -- ¥1036.6B -- 34.0909

8/11/2013 Japan Buying Foreign Stocks 1/11/2013 -- -- -¥252.3B -- 23.8636

8/11/2013 Foreign Buying Japan Bonds 1/11/2013 -- -- ¥127.1B -- 45.4545

8/11/2013 Foreign Buying Japan Stocks 1/11/2013 -- -- -¥8.0B -- 42.0455

8/11/2013 Official Reserve Assets Oct -- -- $1273.5B -- 28.4091

Economic Events

5/11/2013 BOJ Governor Kuroda Speaks to Business Leaders in Osaka

5/11/2013 BOJ Governor Kuroda Holds Press Conference in Osaka

Thailand

Economic Releases


7/11/2013 Consumer Confidence Economic Oct -- -- 67.90 -- 46.1538

7/11/2013 Consumer Confidence Oct -- -- 77.90 -- 0

8/11/2013 Foreign Reserves 41579 -- -- $173.3B -- 80.7692

8/11/2013 Forward Contracts 41579 -- -- $21.9B -- 34.6154


รายงานวนน

หน: LPN ค าแนะน า: ซอ ราคาเปาหมาย (บาท): 25.00

LPN รายงานก าไรสทธไตรมาส 3/56 ท 614 ลานบาท เพมขน 14% YoY แตลดลง 23% QoQ ผลประกอบการทออกมาต ากวาประมาณการของเรา 11% และต ากวาทตลาดคาดการณไว 7% เนองจากรายไดคอนโดทต ากวาคาด ผบรหารปรบเปารายไดคอนโดป 2556 ลง 7% มาอยท 1.4 หมนลานบาท เนองมาจากการโอนคอนโดทลาชา ผลจาก EIA ก าไรไตรมาส 4/56 จะเตบโตกาวกระโดด QoQ จากรายไดคอนโดทเพมสงขน (โต 29% QoQ มาอยท 4.3 พนลานบาท) เราปรบลดประมาณการก าไรลง 6% มาอยท 2.5 พนลานบาท ส าหรบป 2556 และ 6% มาอยท 3 พนลานบาท ส าหรบป 2557

นกวเคราะห: นฤมล เอกสมทร

หน: PTTGC ค าแนะน า: ซอ ราคาเปาหมาย (บาท): 100.00

PTTGC รายงานก าไรสทธไตรมาส 3/56 ท 9,610 ลานบาท ลดลง 25% YoY แตเพมขน 130% QoQ

ผลประกอบการทออกมาสงกวาประมาณการของเราและตลาด 8% เนองจากก าไรจากสตอกน ามนและสญญาปองกนความเสยงทสงกวาคาด

ก าไรหลกทปรบตวลดลง เนองมาจาก 1) ปรมาณขายผลตภณฑโอเลฟนสทลดลง, 2) คาการกลนตลาดทต าลง YoY และ 3) สวนตางราคาอะโรเมตกสทออนตวลง QoQ

เราคาดวาก าไรหลกไตรมาส 4/56 เพมขนทง YoY และ QoQ หนนโดยปรมาณขายผลตภณฑโอเลฟนสและสวนตางราคาปโตรเคมทเพมขน

นกวเคราะห: สพพตา ศรสข

หมายเหต: รายงานดงกลาวเปนเพยงเนอหาโดยสรป สามารถอานรายละเอยดเพมเตมไดในรายงานฉบบเตม


ปฏทนหน

Sources: SET, Bualuang research

Earnings Announcement – 3Q13

Date Stock

08/11/13 BCP, KCE

11/11/13 TUF

12/11/13 THCOM, AMATA

Tender offer

Company Tender period No. of tender shares Offer price (Bt) Tender offeror

BAY 7/11/2013-13/12/2012 39.00 Bank of Tokyo-Mitsubishi UFJ Limited


XD DCC 0.72 XR AKR 1 : [email protected] Baht XD DTAC 1.32

XD OHTL 8

XD SCC 3 XD PSL 0.1 XR BMCL 5.975 : [email protected] Baht

XR M-II 1 :

[email protected]

XD UOB8TF 0.164

XW GL 3 : 1 XR AIT 1 : [email protected] Baht

XW EVER 2 : 1

XD ABFTH -

XD TNH 0.6

XW LIVE 5 : 1

XD CITY 0.16

XR E 5 : [email protected] Baht

XW E @0.002 Baht

Note-XD Cash Dividend, XD (ST) Stock Dividend, PD Payment Date, XR- Right for Common

XW- Right for Warrant XM- Right for meeting

18-Jan-1417-Jan-1415-Jan-14 16-Jan-1412-Jan-14 14-Jan-14

6-Jan-14 7-Jan-14

13-Jan-14

8-Jan-14

24-Dec-13

5-Jan-14

31-Dec-13 1-Jan-14

25-Dec-13

29-Dec-13

11-Jan-14

2-Jan-14

27-Dec-13

15-Dec-13

23-Dec-13

9-Jan-14

16-Dec-13 17-Dec-13

22-Dec-13

30-Dec-13

14-Dec-13

28-Dec-13

19-Dec-13

10-Jan-14

4-Jan-14

12-Dec-13 13-Dec-13

21-Dec-13

26-Dec-13

20-Dec-13

3-Jan-14

22-Nov-1320-Nov-13

4-Dec-13 5-Dec-13 6-Dec-13

21-Nov-13

18-Dec-13

24-Nov-13

13-Nov-13

25-Nov-13 26-Nov-13 27-Nov-13

8-Dec-13 9-Dec-13 10-Dec-13 11-Dec-13

3-Dec-13

FriThu

23-Nov-13

15-Nov-13

1-Dec-13

30-Nov-13

2-Dec-13 7-Dec-13

28-Nov-13 29-Nov-13

10-Nov-13

5-Nov-13

Wed

6-Nov-13 7-Nov-13

16-Nov-13

9-Nov-138-Nov-13

14-Nov-13

SatMon

12-Nov-13

Sun Tue

3-Nov-13

17-Nov-13 19-Nov-1318-Nov-13

4-Nov-13

11-Nov-13


Derivative Warrants

Stock Underlying Expiration Date Exercise Price Exercise Ratio

AAV06C1408A AAV 4 Sep 14 4.2 5.0 : 1.0

AAV28C1403A AAV 8 Mar 14 6.5 3.3 : 1.0

ADVA01CE ADVANC 28 Dec 13 239.479 78.18608 : 1.0

ADVA01PE ADVANC 28 Dec 13 322.563 48.87586 : 1.0

ADVA03CA ADVANC 12 Dec 13 180.414 71.83908 : 1.0

ADVA06CB ADVANC 25 Jun 14 175.944 97.75171 : 1.0

ADVA06PA ADVANC 25 Jun 14 342.113 58.65103 : 1.0

ADVA08CD ADVANC 4 Apr 14 263.915 48.87324 : 1.0

ADVA13C1404A ADVANC 12 Apr 14 265 60.0 : 1.0

ADVA13CG ADVANC 21 Dec 13 283.465 63.57279 : 1.0

ADVA13PD ADVANC 21 Dec 13 254.141 37.13331 : 1.0

ADVA16CC ADVANC 15 Mar 14 244.366 73.31378 : 1.0

ADVA23CB ADVANC 5 Jul 14 288.352 117.37089 : 1.0

ADVA28C1403A ADVANC 8 Mar 14 255 68.0 : 1.0

ADVA28CE ADVANC 8 Nov 13 244.366 60.60283 : 1.0

ADVA28CF ADVANC 9 Jan 14 342.113 50.82818 : 1.0

ADVA28CG ADVANC 24 Apr 15 244.366 78.1972 : 1.0

ADVA28P1403A ADVANC 8 Mar 14 260 44.0 : 1.0

ADVA28PB ADVANC 8 Nov 13 273.69 49.85072 : 1.0

ADVA42CD ADVANC 28 Dec 13 249.254 68.39945 : 1.0

AOT01CE AOT 28 Dec 13 153 40.0 : 1.0

AOT01PE AOT 28 Dec 13 210 40.0 : 1.0

AOT16C1406A AOT 28 Jun 14 170 35.0 : 1.0

AOT28C1401A AOT 9 Jan 14 160 31.0 : 1.0

AOT42CD AOT 28 Dec 13 135 35.0 : 1.0

BANP01C1401A BANPU 6 Feb 14 19.68 6.88705 : 1.0

BANP01C1404A BANPU 30 Apr 14 25 16.0 : 1.0

BANP01P1401A BANPU 6 Feb 14 29.519 4.91884 : 1.0

BANP06CE BANPU 13 Mar 14 20.17 9.60615 : 1.0

BANP08C1405A BANPU 4 Jun 14 33 6.5 : 1.0

BANP08P1405A BANPU 4 Jun 14 29 6.0 : 1.0

BANP13C1403A BANPU 19 Mar 14 33 13.0 : 1.0

BANP13C1404A BANPU 12 Apr 14 29.519 4.4287 : 1.0

BANP18C1405A BANPU 10 May 14 18.696 9.83974 : 1.0

BANP23CA BANPU 5 Mar 14 37.267 14.40922 : 1.0

BANP28C1402A BANPU 8 Feb 14 26.567 5.70705 : 1.0

BANP28C1403A BANPU 8 Mar 14 32 16.0 : 1.0

BAY01C1403A BAY 4 Apr 14 34 16.0 : 1.0

BAY01P1403A BAY 4 Apr 14 45 12.0 : 1.0

BAY06CB BAY 13 Mar 14 17.596 24.43793 : 1.0

BAY08CF BAY 16 May 14 29.686 11.87451 : 1.0

BAY13CE BAY 28 Dec 13 32.16 15.83281 : 1.0

BAY16CB BAY 15 Mar 14 28.697 17.80944 : 1.0

BAY23CA BAY 5 Mar 14 33.97 14.66276 : 1.0

BAY28CB BAY 10 Dec 13 31.665 15.83267 : 1.0

BBL06CD BBL 25 Jun 14 128.602 98.91197 : 1.0

BBL06PD BBL 25 Jun 14 257.204 59.34718 : 1.0

BBL07CA BBL 5 Feb 14 207.742 49.46237 : 1.0

BBL08CD BBL 16 May 14 217.634 59.35484 : 1.0

BBL13CE BBL 28 Dec 13 217.634 61.84292 : 1.0

BBL13PD BBL 28 Dec 13 227.527 39.57262 : 1.0

BBL18C1402A BBL 18 Feb 14 187.957 98.92473 : 1.0

BBL23CA BBL 5 Jul 14 215.656 59.34718 : 1.0

BBL28C1404A BBL 23 Apr 14 220 60.0 : 1.0

BBL28CB BBL 10 Dec 13 227.527 54.40859 : 1.0

BBL42C1404A BBL 3 May 14 168.172 79.11392 : 1.0


Derivative Warrants


BBL42P1404A BBL 3 May 14 237.419 49.45598 : 1.0

BCP01CE BCP 4 Dec 13 31.435 15.71833 : 1.0

BCP01PE BCP 4 Dec 13 44.206 9.82318 : 1.0

BCP06CA BCP 3 Apr 14 21.612 24.55796 : 1.0

BCP13CC BCP 25 Jan 14 35.365 14.73405 : 1.0

BCP23CA BCP 5 Dec 13 37.919 19.19754 : 1.0

BEC01CC BEC 4 Dec 13 62.698 19.59248 : 1.0

BEC23CA BEC 5 Jul 14 66.617 48.9716 : 1.0

BGH01C1401A BGH 6 Feb 14 125 35.0 : 1.0

BGH01P1401A BGH 6 Feb 14 170 30.0 : 1.0

BGH06CB BGH 9 May 15 100 50.0 : 1.0

BGH08C1405A BGH 4 Jun 14 145 35.0 : 1.0

BGH08CC BGH 15 Nov 13 128.56 24.72308 : 1.0

BGH13CF BGH 25 Jan 14 150 30.0 : 1.0

BGH16CB BGH 21 Dec 13 140 35.0 : 1.0

BGH23CA BGH 5 Mar 14 152 35.0 : 1.0

BGH28C1403A BGH 8 Mar 14 165 33.0 : 1.0

BGH42CC BGH 28 Dec 13 165 32.0 : 1.0

BH01CC BH 4 Dec 13 79.335 19.8334 : 1.0

BH07CA BH 2 Apr 14 72.393 19.83383 : 1.0

BH08CB BH 16 May 14 79.335 24.79228 : 1.0

BIGC01C1401A BIGC 6 Feb 14 180 70.0 : 1.0

BIGC01P1401A BIGC 6 Feb 14 230 40.0 : 1.0

BIGC16CB BIGC 15 Mar 14 200 70.0 : 1.0

BIGC28CB BIGC 10 Dec 13 260 54.0 : 1.0

BJC01CD BJC 28 Dec 13 52.417 19.77848 : 1.0

BJC01PC BJC 28 Dec 13 76.153 11.86803 : 1.0

BJC06C1410A BJC 7 Nov 14 29 25.0 : 1.0

BJC08CC BJC 4 Apr 14 93.279 19.63764 : 1.0

BJC13CE BJC 25 Jan 14 54.395 12.85678 : 1.0

BJC23CA BJC 5 Mar 14 86.897 34.36426 : 1.0

BJC28CD BJC 8 Feb 14 57.362 14.3405 : 1.0

BJC28PA BJC 8 Nov 13 77.142 12.857 : 1.0

BLA01C1401A BLA 6 Feb 14 55 20.0 : 1.0

BLA01P1401A BLA 6 Feb 14 70 12.0 : 1.0

BLA06CA BLA 9 May 15 44.482 24.70966 : 1.0

BLAN06C1408A BLAND 4 Sep 14 1.15 1.0 : 1.0

BLAN08C1405A BLAND 4 Jun 14 1.15 1.15 : 1.0

BLAN13C1403A BLAND 15 Mar 14 1.66 0.62 : 1.0

BLAN28C1403A BLAND 8 Mar 14 1.5 0.7 : 1.0

BTS01C1403A BTS 4 Apr 14 7.2 4.0 : 1.0

BTS01P1403A BTS 4 Apr 14 11 3.0 : 1.0

BTS08CB BTS 13 Jun 14 7.818 3.66467 : 1.0

BTS13CD BTS 11 Jan 14 8.257 2.91418 : 1.0

BTS16CB BTS 21 Dec 13 7.966 3.88546 : 1.0

BTS18CA BTS 10 Dec 13 7.043 4.85684 : 1.0

BTS23CA BTS 5 Dec 13 7.902 3.80836 : 1.0

BTS28C1404A BTS 23 Apr 14 8 3.5 : 1.0

BTS28CB BTS 10 Dec 13 8.093 2.85619 : 1.0

BTS42C1404A BTS 3 May 14 7 4.0 : 1.0

CENT23C1404A CENTEL 8 May 14 55.5 26.0 : 1.0

CK01C1402A CK 6 Mar 14 17.344 6.93722 : 1.0

CK01P1402A CK 6 Mar 14 22.299 4.9554 : 1.0

CK08C1401A CK 4 Feb 14 23.786 5.94643 : 1.0

CK13C1401A CK 11 Jan 14 22.299 4.9554 : 1.0

CK13C1402A CK 22 Feb 14 27.254 8.91981 : 1.0

CK23C1401A CK 6 Feb 14 17.542 11.89343 : 1.0


Derivative Warrants


CK28C1401A CK 9 Jan 14 22.795 5.45089 : 1.0

CK28C1403A CK 8 Mar 14 28 17.0 : 1.0

CK42C1404A CK 3 May 14 15.857 7.92833 : 1.0

CPAL01C1403A CPALL 4 Apr 14 35 18.0 : 1.0

CPAL01P1403A CPALL 4 Apr 14 50 12.0 : 1.0

CPAL06CB CPALL 6 Mar 14 27.427 24.4858 : 1.0

CPAL08CE CPALL 24 Jan 14 53.875 7.83636 : 1.0

CPAL08P1406A CPALL 25 Jun 14 43.5 15.0 : 1.0

CPAL13CE CPALL 11 Jan 14 45 15.0 : 1.0

CPAL16CA CPALL 21 Dec 13 39.916 17.63047 : 1.0

CPAL18CA CPALL 10 Dec 13 35.25 25.0 : 1.0

CPAL28C1405A CPALL 10 May 14 38 17.0 : 1.0

CPAL28CC CPALL 10 Dec 13 44.08 14.69318 : 1.0

CPAL28CD CPALL 24 Apr 15 40 18.0 : 1.0

CPAL42C1404A CPALL 3 May 14 30 20.0 : 1.0

CPAL42P1404A CPALL 3 May 14 45 13.0 : 1.0

CPF01C1403A CPF 4 Apr 14 23 16.0 : 1.0

CPF01P1403A CPF 4 Apr 14 33 12.0 : 1.0

CPF06CC CPF 9 May 15 20.782 24.74023 : 1.0

CPF08C1407A CPF 25 Jul 14 27.5 10.0 : 1.0

CPF08CG CPF 25 Dec 13 34.074 7.78828 : 1.0

CPF08P1406A CPF 25 Jun 14 31 15.0 : 1.0

CPF13CE CPF 25 Jan 14 24.741 7.91703 : 1.0

CPF16CC CPF 15 Mar 14 27.71 17.81261 : 1.0

CPF28CC CPF 9 Jan 14 33.153 15.14129 : 1.0

CPF42C1404A CPF 3 May 14 20 20.0 : 1.0

CPF42P1404A CPF 3 May 14 32 13.0 : 1.0

CPN01C1403A CPN 4 Apr 14 40 20.0 : 1.0

CPN01P1403A CPN 4 Apr 14 56 12.0 : 1.0

CPN08CC CPN 15 Nov 13 37.149 9.90641 : 1.0

CPN08CD CPN 13 Jun 14 48 20.0 : 1.0

CPN13C1403A CPN 15 Mar 14 48 15.0 : 1.0

CPN28C1404A CPN 23 Apr 14 44 15.0 : 1.0

CPN28CA CPN 9 Jan 14 62 13.0 : 1.0

CPN42CD CPN 28 Dec 13 50 20.0 : 1.0

DCC08CA DCC 25 Dec 13 42.547 9.45472 : 1.0

DELT01C1403A DELTA 4 Apr 14 39 20.0 : 1.0

DELT07CA DELTA 2 Apr 14 33 9.0 : 1.0

DTAC01CE DTAC 4 Dec 13 104.86 34.62604 : 1.0

DTAC01PE DTAC 4 Dec 13 140.473 19.78631 : 1.0

DTAC06C1410A DTAC 7 Nov 14 78 25.0 : 1.0

DTAC06P1410A DTAC 7 Nov 14 118 25.0 : 1.0

DTAC08CF DTAC 13 Jun 14 103.871 39.56975 : 1.0

DTAC13CF DTAC 21 Dec 13 123.655 29.6824 : 1.0

DTAC13PD DTAC 21 Dec 13 118.709 17.80627 : 1.0

DTAC16C1406A DTAC 28 Jun 14 105 35.0 : 1.0

DTAC23CA DTAC 5 Jul 14 122.719 73.36757 : 1.0

DTAC28C1403A DTAC 8 Mar 14 115 31.0 : 1.0

DTAC28CC DTAC 8 Nov 13 107.757 27.42908 : 1.0

DTAC42CD DTAC 28 Dec 13 108.817 34.62604 : 1.0

EGCO01CC EGCO 28 Dec 13 132.144 39.15427 : 1.0

ESSO01CE ESSO 28 Dec 13 7.2 4.0 : 1.0

ESSO01PE ESSO 28 Dec 13 11 4.0 : 1.0

ESSO03CC ESSO 12 Dec 13 9.302 7.95862 : 1.0

ESSO13C1403A ESSO 5 Apr 14 8 3.0 : 1.0

ESSO18C1403A ESSO 8 Mar 14 5.5 5.0 : 1.0

ESSO28C1403A ESSO 8 Mar 14 7 3.0 : 1.0


Derivative Warrants


ESSO28CB ESSO 10 Dec 13 11.739 5.96907 : 1.0

ESSO28CC ESSO 8 Nov 13 8.755 3.28299 : 1.0

GLOB01C1403A GLOBAL 4 Apr 14 17.5 9.0 : 1.0

GLOB23C1401A GLOBAL 6 Feb 14 19.3 12.0 : 1.0

GLOW01CC GLOW 4 Dec 13 71.118 19.75504 : 1.0

HMPR01C1403A HMPRO 4 Apr 14 10.272 5.99161 : 1.0

HMPR01P1403A HMPRO 4 Apr 14 14.551 4.27991 : 1.0

HMPR06CA HMPRO 25 Jun 14 8.56 8.55945 : 1.0

HMPR08CC HMPRO 13 Jun 14 11.984 5.34987 : 1.0

HMPR13CF HMPRO 25 Jan 14 10.272 5.13584 : 1.0

HMPR23CA HMPRO 6 Mar 14 12.019 7.32869 : 1.0

HMPR28CB HMPRO 10 Dec 13 14.124 5.39251 : 1.0

HMPR28CC HMPRO 9 Jan 14 11.127 5.5637 : 1.0

INTU01CC INTUCH 28 Dec 13 77.75 19.43635 : 1.0

INTU01PC INTUCH 28 Dec 13 102.046 14.57726 : 1.0

INTU06CB INTUCH 3 Apr 14 37.958 23.71917 : 1.0

INTU13CC INTUCH 21 Dec 13 92.328 15.54968 : 1.0

INTU13PA INTUCH 21 Dec 13 82.609 8.74661 : 1.0

INTU16CB INTUCH 21 Dec 13 68.031 17.49169 : 1.0

INTU23C1406A INTUCH 4 Jul 14 79.207 29.16302 : 1.0

INTU28C1402A INTUCH 8 Feb 14 90 16.0 : 1.0

INTU28CC INTUCH 9 Jan 14 116.624 26.24046 : 1.0

INTU28CD INTUCH 10 May 14 82.609 38.87476 : 1.0

INTU28P1401A INTUCH 9 Jan 14 79.693 9.71869 : 1.0

INTU42CB INTUCH 28 Dec 13 77.75 19.43635 : 1.0

IRPC01CE IRPC 28 Dec 13 3 1.5 : 1.0

IRPC01PD IRPC 28 Dec 13 4.8 1.0 : 1.0

IRPC13C1402A IRPC 1 Mar 14 3.5 1.2 : 1.0

IRPC28C1404A IRPC 23 Apr 14 3.35 1.3 : 1.0

IRPC28CB IRPC 10 Dec 13 4 1.35 : 1.0

ITD06C1408A ITD 4 Sep 14 3.6 2.0 : 1.0

ITD07C1404A ITD 3 May 14 5.15 1.5 : 1.0

ITD08C1406A ITD 25 Jun 14 4.5 3.5 : 1.0

ITD13C1404A ITD 11 Apr 14 5.5 3.0 : 1.0

ITD42C1404A ITD 3 May 14 4 4.0 : 1.0

IVL01CH IVL 4 Dec 13 20.836 6.94493 : 1.0

IVL01PH IVL 4 Dec 13 32.742 9.92162 : 1.0

IVL06CC IVL 3 Apr 14 13.781 9.84446 : 1.0

IVL08CF IVL 3 May 14 34.453 4.9219 : 1.0

IVL13C1403A IVL 22 Mar 14 25 4.5 : 1.0

IVL13C1403B IVL 29 Mar 14 29 13.5 : 1.0

IVL13CH IVL 25 Jan 14 17.859 5.95309 : 1.0

IVL13P1401A IVL 22 Jan 14 19 3.0 : 1.0

IVL16C1406A IVL 28 Jun 14 18.5 7.0 : 1.0

IVL18C1403A IVL 8 Mar 14 20 10.0 : 1.0

IVL23CA IVL 6 Mar 14 23.527 14.76451 : 1.0

IVL28C1405A IVL 10 May 14 22 6.5 : 1.0

IVL28C1405B IVL 10 May 14 28 17.0 : 1.0

IVL28CD IVL 10 Dec 13 27.563 15.2579 : 1.0

IVL28PB IVL 8 Nov 13 24.804 4.9609 : 1.0

IVL42CE IVL 28 Dec 13 21.828 9.92162 : 1.0

JAS01CB JAS 28 Dec 13 7 4.0 : 1.0

JAS01PB JAS 28 Dec 13 11 4.0 : 1.0

JAS03CA JAS 12 Dec 13 5.776 3.94929 : 1.0

JAS06CA JAS 9 May 15 4 5.0 : 1.0

JAS08CA JAS 25 Dec 13 6.911 1.97465 : 1.0

JAS08CB JAS 13 Jun 14 5.25 5.0 : 1.0


Derivative Warrants


JAS13C1404A JAS 12 Apr 14 10 2.5 : 1.0

JAS13CB JAS 9 Nov 13 9 3.0 : 1.0

JAS16C1406A JAS 28 Jun 14 7.5 3.4 : 1.0

JAS18CA JAS 10 Dec 13 7 5.0 : 1.0

JAS23C1402A JAS 7 Mar 14 9.1 3.0 : 1.0

JAS28C1403A JAS 8 Mar 14 8 3.5 : 1.0

JAS28CB JAS 10 Dec 13 7.8 3.0 : 1.0

JAS28CC JAS 9 Jan 14 11.8 6.0 : 1.0

JAS28CD JAS 24 Apr 15 7.3 3.5 : 1.0

KBAN01CE KBANK 28 Dec 13 177.493 49.85045 : 1.0

KBAN01PE KBANK 28 Dec 13 229.345 39.88831 : 1.0

KBAN06CB KBANK 13 Mar 14 105.341 98.4252 : 1.0

KBAN06PB KBANK 16 May 14 279.202 99.7009 : 1.0

KBAN08CE KBANK 16 May 14 207.407 59.82906 : 1.0

KBAN08P1404A KBANK 9 Apr 14 249.288 79.77208 : 1.0

KBAN13CH KBANK 25 Jan 14 189.459 29.91325 : 1.0

KBAN13PE KBANK 22 Jan 14 159.544 15.95405 : 1.0

KBAN23CB KBANK 5 Jul 14 213.39 74.79432 : 1.0

KBAN28C1405A KBANK 10 May 14 215 60.0 : 1.0

KBAN28CD KBANK 10 Dec 13 209.402 61.82336 : 1.0

KBAN28CE KBANK 30 Apr 15 189.459 69.80057 : 1.0

KBAN28CF KBANK 9 Jan 14 179.487 29.91453 : 1.0

KBAN28P1403A KBANK 8 Mar 14 175 22.0 : 1.0

KBAN28PA KBANK 8 Nov 13 229.345 49.85755 : 1.0

KBAN42C1404A KBANK 3 May 14 149.573 39.88831 : 1.0

KBAN42P1404A KBANK 3 May 14 219.373 29.91325 : 1.0

KKP01CC KKP 28 Dec 13 54.609 19.50458 : 1.0

KKP01PB KKP 28 Dec 13 73.137 11.70275 : 1.0

KKP08CA KKP 16 May 14 63.385 24.37888 : 1.0

KKP13C1403A KKP 29 Mar 14 53.634 13.65188 : 1.0

KKP23CA KKP 6 Mar 14 58.781 19.1168 : 1.0

KTB01CF KTB 28 Dec 13 19.5 7.0 : 1.0

KTB01PE KTB 28 Dec 13 25 5.0 : 1.0

KTB06CB KTB 25 Jun 14 14 10.0 : 1.0

KTB06PB KTB 25 Jun 14 28 6.0 : 1.0

KTB08C1405A KTB 4 Jun 14 20.5 6.25 : 1.0

KTB08CB KTB 15 Nov 13 17.191 4.91165 : 1.0

KTB13C1402A KTB 1 Mar 14 21 6.0 : 1.0

KTB23CA KTB 5 Dec 13 24.804 7.85855 : 1.0

KTB28CC KTB 10 Dec 13 26.5 16.5 : 1.0

KTB28CD KTB 9 Jan 14 23 5.6 : 1.0

KTB28CE KTB 10 May 14 21 15.0 : 1.0

KTB28P1401A KTB 9 Jan 14 21.5 5.0 : 1.0

KTB42C1404A KTB 3 May 14 15.5 8.0 : 1.0

KTB42P1404A KTB 3 May 14 25 6.0 : 1.0

LH01C1403A LH 4 Apr 14 9.7 7.0 : 1.0

LH01P1403A LH 4 Apr 14 15 4.0 : 1.0

LH08CC LH 13 Jun 14 10.728 4.1448 : 1.0

LH28CB LH 8 Feb 14 12.678 5.85149 : 1.0

LH42CC LH 28 Dec 13 11.215 6.8264 : 1.0

MCOT07C1404A MCOT 3 May 14 40.833 8.75 : 1.0

MINT01CC MINT 4 Dec 13 22.2 10.0 : 1.0

MINT01PB MINT 4 Dec 13 30 8.0 : 1.0

MINT08CC MINT 15 Nov 13 18.257 4.93421 : 1.0

MINT08CD MINT 13 Jun 14 25 10.0 : 1.0

MINT42CD MINT 28 Dec 13 23.5 8.0 : 1.0

PS01C1403A PS 4 Apr 14 19 7.0 : 1.0


Derivative Warrants


PS01P1403A PS 4 Apr 14 24 5.0 : 1.0

PS08C1402A PS 7 Mar 14 23 6.25 : 1.0

PS13CE PS 25 Jan 14 23 6.0 : 1.0

PS23CB PS 5 Jul 14 27.75 50.0 : 1.0

PS28C1404A PS 23 Apr 14 18 7.0 : 1.0

PS28CC PS 8 Nov 13 23 6.5 : 1.0

PS28CD PS 8 Feb 14 32 15.3 : 1.0

PTT01C1403A PTT 4 Apr 14 300 80.0 : 1.0

PTT01P1403A PTT 4 Apr 14 380 55.0 : 1.0

PTT03CB PTT 12 Dec 14 290.666 76.98229 : 1.0

PTT06CD PTT 13 Mar 14 197.05 98.52217 : 1.0

PTT08C1407A PTT 25 Jul 14 332 85.0 : 1.0

PTT08CF PTT 25 Dec 13 365.739 48.12352 : 1.0

PTT08P1407A PTT 25 Jul 14 295 75.0 : 1.0

PTT13CI PTT 11 Jan 14 344.838 59.10165 : 1.0

PTT13P1402A PTT 1 Mar 14 334.985 39.41663 : 1.0

PTT23C1407A PTT 6 Aug 14 308.383 64.0615 : 1.0

PTT28C1402A PTT 8 Feb 14 344.838 59.11506 : 1.0

PTT28CD PTT 24 Apr 15 295.575 78.82008 : 1.0

PTT28P1403A PTT 8 Mar 14 330 50.0 : 1.0

PTT28PA PTT 8 Nov 13 330.059 48.2773 : 1.0

PTTE01CF PTTEP 28 Dec 13 141.3 39.24647 : 1.0

PTTE01PF PTTEP 28 Dec 13 176.625 29.43774 : 1.0

PTTE06CD PTTEP 13 Mar 14 98.125 49.06771 : 1.0

PTTE08C1405A PTTEP 4 Jun 14 176 35.0 : 1.0

PTTE08CE PTTEP 15 Nov 13 134.878 38.53637 : 1.0

PTTE13C1402A PTTEP 22 Feb 14 158.963 29.43774 : 1.0

PTTE13P1402A PTTEP 22 Feb 14 152.094 17.6616 : 1.0

PTTE23CA PTTEP 5 Dec 13 173.681 49.06771 : 1.0

PTTE28C1403A PTTEP 8 Mar 14 155 33.0 : 1.0

PTTE28CB PTTEP 8 Nov 13 152.094 29.4375 : 1.0

PTTE28P1403A PTTEP 8 Mar 14 160 24.0 : 1.0

PTTE28PA PTTEP 8 Nov 13 155.038 23.55 : 1.0

PTTG01C1401A PTTGC 6 Feb 14 63.417 19.5122 : 1.0

PTTG01P1401A PTTGC 6 Feb 14 78.051 9.7561 : 1.0

PTTG06CC PTTGC 6 Mar 14 43.487 23.63507 : 1.0

PTTG08CD PTTGC 16 May 14 64.392 24.39098 : 1.0

PTTG13CD PTTGC 11 Jan 14 76.1 14.63486 : 1.0

PTTG13PD PTTGC 11 Jan 14 78.051 9.7561 : 1.0

PTTG16CA PTTGC 21 Dec 13 61.465 17.55926 : 1.0

PTTG23CB PTTGC 5 Jul 14 76.832 29.274 : 1.0

PTTG28C1403A PTTGC 8 Mar 14 68.295 16.58586 : 1.0

PTTG28CC PTTGC 8 Nov 13 63.417 15.61022 : 1.0

QH06C1408A QH 4 Sep 14 2.3 2.0 : 1.0

QH13C1403A QH 5 Apr 14 3.31 1.16818 : 1.0

QH28C1403A QH 8 Mar 14 3.213 1.26553 : 1.0

RATC07CA RATCH 5 Feb 14 50.878 17.61176 : 1.0

ROBI01C1403A ROBINS 4 Apr 14 50 20.0 : 1.0

SCB01CE SCB 28 Dec 13 158.261 39.57262 : 1.0

SCB01PD SCB 28 Dec 13 207.717 29.67359 : 1.0

SCB06CE SCB 3 Apr 14 96.962 48.49661 : 1.0

SCB06PE SCB 16 May 14 247.283 49.45598 : 1.0

SCB08C1405A SCB 4 Jun 14 158 40.0 : 1.0

SCB08CF SCB 15 Nov 13 155.14 38.78506 : 1.0

SCB13C1403A SCB 20 Mar 14 170 25.0 : 1.0

SCB13CE SCB 11 Jan 14 192.88 29.67359 : 1.0

SCB13P1402A SCB 1 Mar 14 163.207 19.78239 : 1.0


Derivative Warrants


SCB28C1402A SCB 8 Feb 14 158.261 34.61955 : 1.0

SCB28P1401A SCB 9 Jan 14 168.152 21.76086 : 1.0

SCB42CE SCB 28 Dec 13 176.065 31.65559 : 1.0

SCC01C1401A SCC 6 Feb 14 390 100.0 : 1.0

SCC01P1401A SCC 6 Feb 14 500 80.0 : 1.0

SCC03CA SCC 12 Dec 14 373.259 97.37098 : 1.0

SCC06CB SCC 3 Apr 14 272.879 194.93177 : 1.0

SCC08C1407A SCC 25 Jul 14 450 150.0 : 1.0

SCC08CE SCC 25 Dec 13 448.301 97.45667 : 1.0

SCC13C1402A SCC 1 Mar 14 449.439 118.62396 : 1.0

SCC23CA SCC 5 Dec 13 458.046 146.19883 : 1.0

SCC28C1402A SCC 8 Feb 14 449.439 108.65558 : 1.0

SIRI06C1408A SIRI 4 Sep 14 2.1 2.0 : 1.0

SIRI07C1404A SIRI 3 May 14 2.75 1.0 : 1.0

SIRI08C1405A SIRI 4 Jun 14 2.95 1.25 : 1.0

SIRI13C1403A SIRI 5 Apr 14 3.2 1.2 : 1.0

SIRI28C1403A SIRI 8 Mar 14 2.25 1.4 : 1.0

SPAL01CD SPALI 4 Dec 13 18.604 6.85401 : 1.0

STA13C1403A STA 5 Apr 14 13.5 6.0 : 1.0

STA42C1406A STA 28 Jun 14 12 8.0 : 1.0

STEC08C1401A STEC 4 Feb 14 25 6.25 : 1.0

TCAP01C1401A TCAP 6 Feb 14 29.471 15.71833 : 1.0

TCAP01P1401A TCAP 6 Feb 14 43.224 9.82318 : 1.0

TCAP06CB TCAP 9 May 15 28.488 24.55796 : 1.0

TCAP13CF TCAP 28 Dec 13 42.241 15.71833 : 1.0

TCAP23CA TCAP 5 Jul 14 49.609 29.47244 : 1.0

TCAP28C1403A TCAP 8 Mar 14 35 16.0 : 1.0

TCAP28CB TCAP 10 Dec 13 40.37 14.41765 : 1.0

TCAP42CD TCAP 28 Dec 13 43.224 15.71833 : 1.0

THAI01C1403A THAI 4 Apr 14 18 7.0 : 1.0

THAI01P1403A THAI 4 Apr 14 24 5.0 : 1.0

THAI08C1402A THAI 7 Mar 14 25.25 8.0 : 1.0

THAI13C1403A THAI 29 Mar 14 23 6.0 : 1.0

THAI13CE THAI 21 Dec 13 31.5 16.0 : 1.0

THAI23CA THAI 5 Jul 14 33 15.0 : 1.0

THAI28C1404A THAI 23 Apr 14 22 6.0 : 1.0

THAI28CB THAI 10 Dec 13 27.5 16.5 : 1.0

THAI42CD THAI 28 Dec 13 33 14.0 : 1.0

THCO06C1408A THCOM 4 Sep 14 24 25.0 : 1.0

THCO07C1404A THCOM 3 May 14 33 8.0 : 1.0

THCO08C1401A THCOM 4 Feb 14 37 10.0 : 1.0

THCO13C1403A THCOM 5 Apr 14 35 15.0 : 1.0

THCO28C1403A THCOM 8 Mar 14 36 16.0 : 1.0

TISC01CD TISCO 4 Dec 13 48 20.0 : 1.0

TISC01PC TISCO 4 Dec 13 63 12.0 : 1.0

TISC23CA TISCO 5 Jul 14 55.5 15.0 : 1.0

TMB01C1401A TMB 6 Feb 14 2.1 1.5 : 1.0

TMB01P1401A TMB 6 Feb 14 3 1.0 : 1.0

TMB06CA TMB 6 Mar 14 1.284 1.97539 : 1.0

TMB08C1405A TMB 4 Jun 14 2.8 1.3 : 1.0

TMB08CA TMB 15 Nov 13 1.827 0.49384 : 1.0

TMB13C1404A TMB 12 Apr 14 2.6 1.25 : 1.0

TMB16CA TMB 21 Dec 13 2.212 1.48153 : 1.0

TMB23CA TMB 6 Mar 14 2.469 1.97539 : 1.0

TMB28C1403A TMB 8 Mar 14 2.3 1.3 : 1.0

TMB28CB TMB 8 Feb 14 3.2 1.1 : 1.0

TOP01CE TOP 4 Dec 13 57.246 19.73944 : 1.0


Derivative Warrants


TOP01PE TOP 4 Dec 13 72.05 9.86972 : 1.0

TOP06CB TOP 6 Mar 14 44.029 23.92917 : 1.0

TOP08CF TOP 16 May 14 59.22 24.6748 : 1.0

TOP13C1402A TOP 1 Mar 14 67.115 14.80385 : 1.0

TOP23CA TOP 6 Mar 14 70.076 19.73944 : 1.0

TOP28C1403A TOP 8 Mar 14 60 16.0 : 1.0

TOP28CB TOP 8 Nov 13 62.674 15.79187 : 1.0

TPIP01C1401A TPIPL 6 Feb 14 10 7.0 : 1.0

TPIP01P1401A TPIPL 6 Feb 14 14 4.0 : 1.0

TPIP08C1407A TPIPL 25 Jul 14 14.5 4.75 : 1.0

TPIP08CB TPIPL 25 Dec 13 13.915 3.97561 : 1.0

TRUE01C1403A TRUE 4 Apr 14 5.7 3.5 : 1.0

TRUE01P1403A TRUE 4 Apr 14 9.2 2.5 : 1.0

TRUE06CB TRUE 25 Jun 14 6.5 5.0 : 1.0

TRUE06PB TRUE 25 Jun 14 12 5.0 : 1.0

TRUE07CA TRUE 2 Apr 14 8.2 3.0 : 1.0

TRUE08CE TRUE 24 Jan 14 8 2.0 : 1.0

TRUE08CF TRUE 13 Jun 14 8.5 4.0 : 1.0

TRUE08P1404A TRUE 9 Apr 14 11 5.0 : 1.0

TRUE13C1312A TRUE 31 Dec 13 8.25 2.95 : 1.0

TRUE13C1402A TRUE 22 Feb 14 8.5 2.5 : 1.0

TRUE13CG TRUE 11 Jan 14 15 4.0 : 1.0

TRUE13P1402A TRUE 22 Feb 14 6.25 1.5 : 1.0

TRUE13P1403A TRUE 19 Mar 14 7.95 1.77 : 1.0

TRUE16CB TRUE 21 Dec 13 7.1 3.5 : 1.0

TRUE18C1403A TRUE 8 Mar 14 6 5.0 : 1.0

TRUE23C1401A TRUE 6 Feb 14 9.6 8.0 : 1.0

TRUE28C1401A TRUE 9 Jan 14 8.5 3.0 : 1.0

TRUE28CD TRUE 10 Dec 13 8 3.5 : 1.0

TRUE28CE TRUE 9 Jan 14 12.5 5.4 : 1.0

TRUE28CF TRUE 30 Apr 15 12 8.0 : 1.0

TRUE28P1402A TRUE 8 Feb 14 8 3.0 : 1.0

TTA08C1407A TTA 25 Jul 14 22 6.0 : 1.0

TTA08P1407A TTA 25 Jul 14 16 5.5 : 1.0

TTA13C1401A TTA 4 Feb 14 21 4.3 : 1.0

TTA13C1403A TTA 5 Apr 14 16 6.0 : 1.0

TTA28C1404A TTA 23 Apr 14 17 7.0 : 1.0

TTW07CA TTW 5 Feb 14 9.28 2.93056 : 1.0

TUF01CD TUF 4 Dec 13 53.4 19.77848 : 1.0

TUF01PC TUF 4 Dec 13 69.222 9.88924 : 1.0

TUF06CC TUF 6 Mar 14 46.734 24.33682 : 1.0

TUF08C1405A TUF 4 Jun 14 59 20.0 : 1.0

TUF08CE TUF 15 Nov 13 63.285 15.57787 : 1.0

TUF16CB TUF 21 Dec 13 54.883 17.79993 : 1.0

TUF18CA TUF 10 Dec 13 46.972 24.72222 : 1.0

TUF28CA TUF 9 Jan 14 67.244 12.85556 : 1.0



Technical Analysis

Security: SCB Position: ซอ เปาหมาย : 170/172 Stop loss: < 163 Reason: ปรบตวขนโดดเดนเมอเปรยบเทยบกบห น ใ น ก ล ม ธ น า ค า ร สญญาณทะลแนวต านส าคญ 165 คาดสงผลใหราคาหนปรบตวขนไดเรว มองแนวตานบรเวณ 170-172

Security: PTTGC Position: ซอ เปาหมาย : 82/83 Stop loss: < 78.25 Reason: ทะลแนวตานส าคญ 78.5 และเปนหนท อ ย ใ น กล ม น า ตล าด คาดหมายการปรบขนไปทจดยอดเดมบรเวณ 82-83


Security: SAMART Position: ซอ เปาหมาย : 20.5/20.8 Stop loss: < 19.3 Reason: ปรบตวขนตามคาด ล นทะล ผ าน เส นค า เฉล ย 10 ว น 19 .7 คาดวาสญญาณบวกจากเครองมอ MACD ก าลงจะตดผานเสน 0 พรอมกบวอลมทเพมสงขนอยางมนยส าคญ

Security: ADVANC Position: ขายท าก าไร Reason: สงสญญาณออนกวาตลาดอยางเหนได ช ด แม ร าคาห น จ ะปรบตวขนมาไดเลกนอย แตยงคงมองเพยงการรบาวดบนแนวโนมขาลง หากราคาขนมาถงแนวต านบร เ วณ 246 -250 มองวาเปนโอกาสในการขายหนท าก าไร


Security: INTUCH Position: ขายท าก าไร Reason: สญญาณไมด ขณะทแนวโนมระยะสนต อ ง ร ะ ว ง ห า ก ห ล ดเสนแนวรบส าคญ 82 บ. อาจส งผลให ร าคาห นปรบตวลงแรง

Security: SUPER Position: ขายท าก าไร Reason: ราคหนปรบตวลงตามคาดหลงจากราคาปดต า และไมสามารถทะลยอดเดมบรเวณ 3 บ. ขณ ะท เ ค ร อ ง ม อ ท า งเทคนคปรบตวขนแรงคาดพ ก ต ว จ า ก ภ า ว ะ Overbought

ธนรตน อศรกล Tel. (662) 618-1334


Bualuang Securities Public Company Limited

BUALUANG SECURITIES PUBLIC COMPANY LIMITED (BLS) is a subsidiary of BANGKOK BANK PUBLIC COMPANY LIMITED (BBL). This document

is produced based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. The statements or

expressions of opinion herein were arrived at after due and careful consideration to use as information for investment. Expressions of opinion contained

herein are subject to change without notice. This document is not, and should not be construed as, an offer or the solicitation of an offer to buy or sell

any securities. The use of any information shall be at the sole discretion and risk of the user.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED MAY BE IN RELATIONSHIP WITH THE SECURITIES IN THIS REPORT. “Opinions,

projections and other information contained in this report are based upon sources believed to be accurate including the draft prospectus, but no

responsibility is accepted for any loss occasioned by reliance placed upon the contents hereof. Bualuang Securities Public Company Limited may from

time to time perform investment, advisory or other services for companies mentioned in this report, as well as dealing (as principal or otherwise) in, or

otherwise being interested in, any securities mentioned herein, This report does not constitute a solicitation to buy or sell any securities”. Investors

should carefully read details in the prospectus before making investment decision.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED ACTS AS MARKET MAKER AND ISSUER OF DWs UNDERLYING STOCKS. Investors

should carefully read the details of the derivative warrants in the prospectus before making investment decisions. (Please file information:

www.blswarrant.com)

BUALUANG SECURITIES PUBLIC COMPANY LIMITED IS OR MAY BE A UNDERWRITER/CO-UNDERWRITER/JOINT LEAD IN RESPECT OF THE

INITIAL PUBLIC OFFERING (“IPO”) OF SECURITIES.

Financial Advisor Lead underwriter/

Underwriter/ Co-underwriter

BJCHI, MEGA, NYT

Score Range Score Range Description

90 – 100 Excellent

80 – 89 Very Good

70 – 79 Good

60 – 69 Satisfactory

50 – 59 Pass

Below 50 No logo given N/A

CORPORATE GOVERMANCE REPORT DISCLAIMER

This research report was prepared by Bualuang Securities Public Company Limited and refers to research prepared by Morgan Stanley. Morgan Stanley

does not warrant or guarantee the accuracy or completeness of its research reports. Morgan Stanley reserves copyright and other proprietary rights in

the material reproduced in this report. Morgan Stanley is under no obligation to inform Bualuang Securities or you if the views or information referred to

or reproduced in this research report change.

Corporate Governance Report disclaimer

The disclosure of the survey result of the Thai Institute of Directors Association (“IOD”) regarding corporate governance is made pursuant to the policy

of the Office of the Securities and Exchange Commission. The survey of the IOD is based on the information of a company listed on the Stock

Exchange of Thailand and the Market for Alternative Investment disclosed to the public and able to be accessed by a general public investor. The

result, therefore, is from the perspective of a third party. It is not an evaluation of operation and is not base on inside information.

The survey result is as of the date appearing in the Corporate Governance Report of Thai Listed Companies. As a result, the survey result may be

changed after that date. Bualuang Securities Public Company Limited does not conform nor certify the accuracy of such survey result.

BUALUANG RESEARCH – RECOMMENDATION FRAMEWORK

STOCK RECOMMENDATIONS BUY: Expected positive total returns of 15% or more over the next 12

months.

HOLD: Expected total returns of between -15% and +15% over the next 12

months.

SELL: Expected negative total returns of 15% or more over the next 12

months.

TRADING BUY: Expected positive total returns of 15% or more over the next

3 months.

SECTOR RECOMMENDATIONS OVERWEIGHT: The industry, as defined by the analyst's coverage universe, is

expected to outperform the relevant primary market index over the next 12 months.

NEUTRAL: The industry, as defined by the analyst's coverage universe, is

expected to perform in line with the relevant primary market index over the next 12

months.

UNDERWEIGHT: The industry, as defined by the analyst's coverage universe, is

expected to underperform the relevant primary market index over the next 12

months.

DISCLAIMER

http://www.blswarrant.com/

Market Statistics Daily - 1

Market Statistics Daily

7 November 2013

Figure 1: Changes in management's securities holding

Name of Name of Management Types of Total Volume Price Total Value Transaction ActionCompany Securities (Shrs) (Bt) (Bt) Date

BGH PRASERT PRASARTTONG-OSOTH Common share 1,063,100 130.61 138,851,491 05-11-2013 BuySYNTEC JIRAMOTE PHAHUSUTR Common share 5,353,240 1.42 7,601,601 01-11-2013 BuyKSL PRAPAS CHUTIMAVORAPHAND Common share 40,000 12.40 496,000 04-11-2013 BuyGLAND MONGKOL PAOIN Common share 100,000 2.80 280,000 04-11-2013 BuyIRC PIMJAI LEEISARANUKUL Common share 14,700 15.25 224,175 18-10-2013 BuyWG SALIN PINKAYAN Common share 1,800 105.42 189,756 21-10-2013 BuyIRC PIMJAI LEEISARANUKUL Common share 10,000 15.35 153,500 17-10-2013 BuyWG SALIN PINKAYAN Common share 900 104.50 94,050 11-10-2013 BuyIRC PIMJAI LEEISARANUKUL Common share 6,000 15.05 90,300 14-10-2013 BuyIRC PIMJAI LEEISARANUKUL Common share 1,900 15.30 29,070 16-10-2013 BuyIRC PIMJAI LEEISARANUKUL Common share 700 15.10 10,570 11-10-2013 BuyBLA CHAI SOPHONPANICH Common share 50,000 62.50 3,125,000 01-11-2013 SellBNC PULVITH DHANASUBSOMBUL Common share 102,000 19.40 1,978,800 05-11-2013 SellBNC PULVITH DHANASUBSOMBUL Common share 1,700 19.40 32,980 05-11-2013 SellSources: SEC, Bualuang research

As of 6 Nov 2013


Figure 2: Short Sale Trading

As of 6 Nov 2013

Stock Volume (Shares) Turnover (Baht) %Short Sale Volume Comparing w ith Main Board

ADVANC 872,900 210,630,300.00 5.35%KBANK 646,300 121,005,300.00 7.12%TRUE 13,803,000 116,490,500.00 5.97%INTUCH 1,067,400 87,305,400.00 4.44%AOT 296,500 60,912,550.00 4.45%ITD 7,929,900 45,202,920.00 7.31%SCB 185,200 30,662,650.00 1.34%BLAND 17,020,000 29,189,400.00 3.80%MINT 1,046,900 28,772,575.00 8.32%KTB 1,321,000 26,525,400.00 2.58%CPALL 662,300 25,351,825.00 2.65%DTAC 180,000 20,300,000.00 5.18%PTTGC 253,300 19,704,575.00 1.81%IVL 420,100 10,181,775.00 1.00%TUF 120,600 7,038,500.00 3.89%JAS 820,000 6,763,000.00 0.26%BJC 140,300 6,637,775.00 6.43%BANPU 200,000 5,600,000.00 2.37%SIRI 2,500,000 5,350,000.00 2.69%BBL 21,000 4,286,500.00 0.96%BGH 28,800 3,802,200.00 1.10%CK 150,000 3,315,000.00 0.71%THCOM 71,900 2,852,125.00 0.58%TMB 1,000,000 2,800,000.00 0.30%BCP 80,200 2,642,850.00 2.22%PTTEP 15,900 2,641,650.00 0.43%AP 481,000 2,606,465.00 4.15%STEC 110,000 2,573,000.00 0.74%SPALI 140,000 2,492,000.00 3.66%PS 72,700 1,734,180.00 0.73%ROBINS 30,100 1,570,650.00 3.92%BH 15,000 1,408,150.00 1.27%CENTEL 20,000 795,000.00 0.51%IRPC 200,000 694,000.00 0.38%BLA 10,000 611,250.00 1.55%GLOBAL 26,600 500,080.00 0.60%TOP 5,800 364,850.00 0.19%BIGC 1,700 324,450.00 0.68%MAJOR 15,000 277,250.00 0.61%LH 18,000 191,700.00 0.07%STA 14,000 184,800.00 0.78%TDEX 18,400 184,249.00 2.38%GLOW 500 36,125.00 0.06%TTW 3,000 30,600.00 0.13%QH 10,000 29,200.00 0.01%GUNKUL 200 3,160.00 0.01%SPCG 100 2,260.00 0.01%ESSO 300 2,025.00 0.01%Sources: SET, Bualuang researchRemark: Excluding ETF


Figure 3: Short sale volume (as % of total listed shares) - previous three months

Figure 4: Short sale volume (as % of total listed shares) - previous six months

Sources: SET, Bualuang Research

Remark: Excluding ETF

6.35

4.66 4.62 4.45

3.04 2.06 1.78 1.49

1.35 1.23 1.01 1.00 0.96 0.94 0.85

0.0

1.6

3.2

4.8

6.4

8.0

CK

TRU

E

ITD

JAS

SIR

I

QH

STE

C

KBAN

K

INTU

CH

KTB

IVL

AMAT

A

CP

ALL

TTA

BLAN

D

(%)

10.03 8.89

6.30 6.10 5.87 5.55

2.77 2.76 2.65 2.34 2.13 1.87 1.73 1.52 1.52

0.0

2.2

4.4

6.6

8.8

11.0

CK

JAS

TRU

E

QH

SIR

I

ITD

STE

C

KBAN

K

INTU

CH

CP

ALL

KTB

BBL

BLAN

D

THAI

AOT

(%)


Bualuang Securities Public Company Limited

BUALUANG SECURITIES PUBLIC COMPANY LIMITED (BLS) is a subsidiary of BANGKOK BANK PUBLIC COMPANY LIMITED (BBL). This document is produced based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. The statements or expressions of opinion herein were arrived at after due and careful consideration to use as information for investment. Expressions of opinion contained herein are subject to change without notice. This document is not, and should not be construed as, an offer or the solicitation of an offer to buy or sell any securities. The use of any information shall be at the sole discretion and risk of the user.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED MAY BE IN RELATIONSHIP WITH THE SECURITIES IN THIS REPORT. “Opinions, projections and other information contained in this report are based upon sources believed to be accurate including the draft prospectus, but no responsibility is accepted for any loss occasioned by reliance placed upon the contents hereof. Bualuang Securities Public Company Limited may from time to time perform investment, advisory or other services for companies mentioned in this report, as well as dealing (as principal or otherwise) in, or otherwise being interested in, any securities mentioned herein, This report does not constitute a solicitation to buy or sell any securities”. Investors should carefully read details in the prospectus before making investment decision.

BUALUANG SECURITIES PUBLIC COMPANY LIMITED ACTS AS MARKET MAKER AND ISSUER OF DWs UNDERLYING STOCKS. Investors should carefully read the details of the derivative warrants in the prospectus before making investment decisions. (Please file information: www.blswarrant.com)

BUALUANG SECURITIES PUBLIC COMPANY LIMITED IS OR MAY BE A UNDERWRITER/CO-UNDERWRITER/JOINT LEAD IN RESPECT OF THE INITIAL PUBLIC OFFERING (“IPO”) OF SECURITIES.

Financial Advisor Lead underwriter/

Underwriter/ Co-underwriter

BJCHI, MEGA, NYT

Score Range Score Range Description

90 – 100 Excellent 80 – 89 Very Good 70 – 79 Good 60 – 69 Satisfactory 50 – 59 Pass

Below 50 No logo given N/A

CORPORATE GOVERMANCE REPORT DISCLAIMER

This research report was prepared by Bualuang Securities Public Company Limited and refers to research prepared by Morgan Stanley. Morgan Stanley does not warrant or guarantee the accuracy or completeness of its research reports. Morgan Stanley reserves copyright and other proprietary rights in the material reproduced in this report. Morgan Stanley is under no obligation to inform Bualuang Securities or you if the views or information referred to or reproduced in this research report change.

Corporate Governance Report disclaimer

The disclosure of the survey result of the Thai Institute of Directors Association (“IOD”) regarding corporate governance is made pursuant to the policy of the Office of the Securities and Exchange Commission. The survey of the IOD is based on the information of a company listed on the Stock Exchange of Thailand and the Market for Alternative Investment disclosed to the public and able to be accessed by a general public investor. The result, therefore, is from the perspective of a third party. It is not an evaluation of operation and is not base on inside information. The survey result is as of the date appearing in the Corporate Governance Report of Thai Listed Companies. As a result, the survey result may be changed after that date. Bualuang Securities Public Company Limited does not conform nor certify the accuracy of such survey result. BUALUANG RESEARCH – RECOMMENDATION FRAMEWORK STOCK RECOMMENDATIONS BUY: Expected positive total returns of 15% or more over the next 12 months. HOLD: Expected total returns of between -15% and +15% over the next 12 months. SELL: Expected negative total returns of 15% or more over the next 12 months. TRADING BUY: Expected positive total returns of 15% or more over the next 3 months.

SECTOR RECOMMENDATIONS OVERWEIGHT: The industry, as defined by the analyst's coverage universe, is expected to outperform the relevant primary market index over the next 12 months. NEUTRAL: The industry, as defined by the analyst's coverage universe, is expected to perform in line with the relevant primary market index over the next 12 months. UNDERWEIGHT: The industry, as defined by the analyst's coverage universe, is expected to underperform the relevant primary market index over the next 12 months.

DISCLAIMER

Closing price as (* In case of no closing price of the indictated date, use the latest closing price)Warrants Warrant Black & Premium Stock Exercise Expiry Shares Conversion Gearing All-in Delta Implied CFP Exercise

Price Scholes on B/S Price Price Date Outstanding Ratio Premium Elasticity Volatility Date% (m shares) % % % %

ACD-W2 0.79 1.29 (38.67) 2.14 1.00 07-Jun-16 174.96 1.00000 2.71 (16.36) 2.71 0.00 (10.97) Last business day of May, NovAGE-W1 2.64 2.63 0.21 2.58 0.71 13-Feb-14 34.86 1.40600 1.37 0.34 1.37 114.32 4.67 Last business day of Jun, DecAIM-W2 0.42 0.53 (20.49) 0.62 0.10 22-Aug-16 4,599.61 1.00000 1.48 (16.13) 1.48 0.00 (21.99) 22 Aug 2016AMC-W1 0.50 0.29 71.43 2.86 3.00 07-Mar-14 39.98 1.00000 5.72 22.38 3.19 87.39 107.48 Last business day of Mar, Jun, Sep, DecAQUA-W2 0.42 0.14 210.58 0.82 0.75 15-Mar-14 673.39 1.00000 1.95 42.68 1.50 221.00 500.45 Last business day of Jun, DecBLAND-W3 * 0.54 0.56 (3.22) 1.72 1.50 07-Nov-15 1,991.55 1.00000 3.19 18.60 2.28 47.75 12.75 Last business day of Mar, Jun, Sep, DecBLAND-W4 0.38 0.61 (37.40) 1.72 2.00 02-Jul-18 6,948.39 1.00000 4.53 38.37 2.62 32.60 8.99 Last business day of Mar, Jun, Sep, DecBROOK-W4 1.43 1.57 (9.11) 2.10 0.84 08-Aug-16 370.12 1.25500 1.84 (5.84) 1.84 0.00 (4.84) Last business day of Mar, Jun, Sep, DecBSM-W1 1.03 1.06 (2.58) 1.50 0.50 03-Jan-16 75.00 1.00000 1.46 2.00 1.44 38.88 2.91 Last business day of Mar, Jun, Sep, Dec 2014-15BTS-W2 * 0.71 0.76 (6.02) 9.10 4.38 11-Nov-13 477.82 0.16000 2.05 (3.16) 2.05 0.00 (99.70) Last business day of Mar, Jun, Sep, DecBWG-W1 1.29 1.28 1.10 2.48 1.20 13-Jul-14 85.67 1.00000 1.92 0.40 1.86 54.74 1.24 Last business day of Mar, Jun, Sep, DecCCP-W1 6.30 6.57 (4.05) 5.90 1.00 29-Sep-14 65.61 1.33400 1.25 (3.01) 1.25 0.00 (16.71) Last business day of Mar, Jun, Sep, DecCCP-W2 4.70 4.97 (5.46) 5.90 1.00 30-Sep-16 100.00 1.00000 1.26 (3.39) 1.26 0.00 (6.10) Last business day of Mar, Jun, Sep, DecCEN-W3 1.70 1.79 (5.10) 3.70 2.00 10-Jun-15 116.53 1.00000 2.18 0.00 2.18 0.00 0.00 Last business day of Mar, Jun, Sep, DecCIG-W4 0.14 0.03 423.20 0.68 1.00 29-Oct-14 601.79 0.50000 2.43 88.24 1.60 137.20 155.86 Last business day of each monthCMO-W1 0.56 0.46 20.58 1.95 2.00 11-Nov-15 27.00 1.00000 3.48 31.28 2.23 59.87 19.83 1 Apr 13-15, 1 Oct 13-14, 11 Nov 15COLOR-W1 0.26 0.31 (15.51) 2.12 4.00 16-Jun-16 48.42 1.00000 8.15 100.94 2.85 46.29 34.12 Last business day of Mar, Jun, Sep, DecCPI-W1 0.38 0.66 (42.22) 2.38 2.25 01-Jul-15 148.90 1.00000 6.26 10.50 4.12 24.74 7.42 Last business day of Jun, DecCSP-W1 0.01 0.00 Very High 2.50 3.90 29-Nov-13 125.00 1.00000 250.00 56.40 10.96 99.26 Very High Last business day of May, NovCWT-W2 1.20 0.94 27.54 1.80 1.00 30-Jan-16 82.06 1.00000 1.50 22.22 1.32 97.11 25.74 Last business day of Jun, DecDEMCO-W5 1.25 0.63 99.92 7.70 12.00 05-Feb-15 38.05 1.00000 6.16 72.08 2.65 69.84 64.55 Last business day of Jan, Jul 14 and 5 Feb 15DEMCO-W6 1.12 0.76 47.07 7.70 15.00 05-Feb-16 38.05 1.00000 6.88 109.35 2.61 58.88 44.31 Last business day of Jan, Jul 14 and 15, 5 Feb 16DIMET-W1 0.79 0.95 (16.85) 1.28 0.50 01-Nov-17 90.00 1.00000 1.62 0.78 1.62 0.00 0.51 Last business day of Jun, DecEARTH-W3 4.96 5.74 (13.52) 7.15 1.47 15-Sep-16 51.19 1.02300 1.47 (11.69) 1.47 0.00 (14.60) 15 Mar and 15 Sep throughout the life of warrantECL-W1 0.10 0.16 (38.58) 1.16 1.00 01-Dec-13 205.00 1.01200 11.74 (5.27) 11.74 0.00 (59.47) Last business day of Jun, DecEMC-W3 0.22 0.02 Very High 0.97 1.21 29-Mar-14 293.20 1.24500 5.49 42.44 2.75 103.96 192.87 Last business day of Mar, Jun, Sep, DecEPCO-W1 1.55 1.45 7.00 3.70 2.27 20-Oct-14 119.60 1.01500 2.42 2.52 2.16 50.79 4.51 Last business day of Mar, Jun, Sep, DecERW-W2 1.82 2.01 (9.26) 4.80 2.80 17-Dec-13 224.48 1.00000 2.64 (3.75) 2.64 0.00 (43.36) 17 Dec 2013E-W1 0.37 0.59 (36.76) 1.01 1.41 22-Dec-20 347.00 1.06500 2.91 73.80 1.86 38.24 11.15 Last business day of Mar, Jun, Sep, DecE-W2 0.30 0.47 (36.46) 1.01 2.00 22-Dec-20 261.75 1.00000 3.37 127.72 1.87 43.09 15.64 Last business day of Mar, Jun, Sep, DecFOCUS-W1 0.44 0.03 Very High 1.96 3.00 15-Jun-14 62.50 1.00000 4.45 75.51 2.23 116.57 208.95 Last business day of Jan, Apr, Jul, OctGEN-W3 0.22 0.10 111.41 0.81 0.94 15-May-14 577.87 1.06600 3.92 41.16 2.29 107.07 133.78 Last business day of DecGEN-W4 0.30 0.22 36.36 0.81 1.20 09-Jun-16 1,327.19 1.00000 2.70 85.19 1.71 75.88 39.17 Last business day of DecGJS-W2 0.09 0.07 29.16 0.08 0.21 12-Dec-17 4,933.06 3.63000 3.23 189.74 1.72 68.68 38.05 Last business day of Jun, DecGJS-W3 0.19 0.14 35.43 0.08 0.15 07-Feb-20 3,674.43 4.00000 1.68 146.88 1.30 78.60 27.70 Last business day of Jun, DecGLAND-W1 2.00 2.05 (2.37) 2.94 1.00 26-May-14 10.94 1.02900 1.51 0.12 1.51 0.00 0.67 Last business day of Mar, Jun, Sep, DecGLAND-W2 2.00 2.32 (13.90) 2.94 1.00 30-Jun-16 211.97 1.00000 1.47 2.04 1.47 0.00 2.37 30 Jun throughout the life of warrantGL-W2 45.00 47.31 (4.88) 6.95 2.96 31-Oct-14 5.39 11.83600 1.83 (2.75) 1.83 0.00 (6.18) Last business day of Mar, Jun, Sep and DecGOLD-W1 4.34 4.39 (1.23) 7.35 3.00 31-Mar-14 370.34 1.00000 1.69 (0.14) 1.69 0.00 (0.84) Last business day of Mar, Jun, Sep, DecGSTEL-W1 0.07 0.04 58.52 0.13 0.55 29-Sep-19 5,676.19 1.00000 1.86 376.92 1.31 91.75 45.61 Last business day of Jun, DecGSTEL-W2 0.09 0.04 104.11 0.13 0.55 26-Sep-19 1,348.65 1.00000 1.44 392.31 1.17 112.38 56.08 Last business day of Jun, DecIEC-W1 0.01 0.00 426.59 0.03 0.04 18-Jun-14 8,991.23 1.00000 3.00 53.33 1.89 128.34 161.71 Last business day of Mar, Jun, Sep, DecILINK-W1 3.68 3.85 (4.37) 18.10 20.00 23-Jun-16 15.00 1.00000 4.92 30.83 2.80 38.46 13.26 Last business day of Mar, Jun, Sep, DecJMART-W1 18.10 17.75 1.97 20.80 3.00 30-Dec-13 0.64 1.00000 1.15 1.44 1.13 366.51 106.60 Last business day of Mar, Jun, Sep, DecKAMART-W 3.14 3.32 (5.33) 5.35 2.00 07-May-14 52.41 1.00000 1.70 (3.93) 1.70 0.00 (18.24) Last business day of Jul, Oct 13, Jan, May 6, 14KCE-W2 13.90 13.37 3.99 19.70 5.00 19-Jun-16 107.59 1.00000 1.42 (4.06) 1.36 70.10 (5.51) 1- 10 of Mar, Jun, Sep, DecKMC-W2 0.10 0.00 Very High 0.43 1.12 20-Jun-15 1,030.90 0.89300 3.84 186.51 1.84 102.60 117.90 Last business day of Mar, Jun, Sep, DecKMC-W3 0.14 0.04 239.19 0.43 0.60 19-May-16 2,624.55 1.00000 3.07 72.09 1.87 66.69 33.27 Last business day of Mar, Jun, Sep, DecLIVE-W1 0.21 0.31 (31.89) 0.44 0.17 21-Jan-14 1,119.36 1.15240 2.41 (19.15) 2.41 0.00 (85.44) Last business day of Mar, Jun, Sep, DecLVT-W3 0.74 0.55 34.82 1.76 1.25 14-Feb-14 172.16 1.00000 2.38 13.07 1.90 143.27 111.63 Last business day of Mar, Jun, Sep, DecMATCH-W2 1.44 1.45 (0.54) 2.62 1.29 29-May-14 58.17 1.08200 1.97 0.15 1.97 0.00 0.54 Last business day of Mar, Jun, Sep, DecMILL-W1 0.15 0.53 (71.92) 1.69 1.71 24-Feb-14 114.60 2.93130 33.03 3.96 16.72 14.30 14.35 Last business day of Jun, DecMILL-W2 0.19 0.35 (45.42) 1.69 2.50 29-May-16 465.90 1.00000 8.89 59.17 3.39 35.14 22.09 Last business day of Jun, DecNBC-W1 2.00 0.10 Very High 1.20 3.00 11-Jul-18 176.87 1.00000 0.60 316.67 0.60 Very High Very High 15th of Jun, DecNEP-W2 0.75 0.75 0.12 1.20 0.50 15-Dec-16 472.41 1.00000 1.60 4.17 1.55 35.58 3.45 15th of Mar, Jun Sep, DecNINE-W1 1.37 1.37 (0.18) 4.24 4.00 11-Jul-18 85.00 1.00000 3.09 26.65 2.19 34.92 7.36 15th of Jun, DecNIPPON-W 0.89 0.78 14.84 1.76 1.00 30-May-16 182.99 1.00000 1.98 7.39 1.70 56.26 5.59 Last business day of Feb, May, Aug, NovNMG-W3 0.65 0.70 (6.58) 1.46 1.00 19-Jun-18 1,647.74 1.00000 2.25 13.01 1.95 28.54 4.67 15th of Jun, DecNNCL-W2 1.51 1.45 3.79 2.54 1.00 29-Dec-15 700.65 1.00000 1.68 (1.18) 1.58 53.64 (1.37) Last business day of Mar, Jun, Sep, DecNUSA-W1 0.25 0.12 116.02 0.77 1.00 31-May-16 494.70 1.00000 3.08 62.34 1.91 62.69 29.05 Last business day of May and NovNWR-W1 1.17 0.61 90.32 2.74 2.20 26-Jun-14 246.77 1.00000 2.34 22.99 1.78 118.44 70.42 26 Sep, 26 Dec 13, 26 Mar, 26 Jun 14

06 Nov 2013Bualuang Securities

Closing price as (* In case of no closing price of the indictated date, use the latest closing price)Warrants Warrant Black & Premium Stock Exercise Expiry Shares Conversion Gearing All-in Delta Implied CFP Exercise

Price Scholes on B/S Price Price Date Outstanding Ratio Premium Elasticity Volatility Date% (m shares) % % % %

06 Nov 2013Bualuang Securities

PF-W3 * 0.51 0.20 152.62 1.04 1.0000 18-Jul-15 178.05 1.00000 2.04 45.19 1.55 102.34 45.49 Last business day of Mar, Jun, Sep, DecPLE-W2 0.47 0.17 176.88 2.22 3.2000 20-Oct-15 536.19 1.00000 4.72 65.32 2.38 60.89 36.26 20 Oct 2015PRINC-W1 1.02 1.22 (16.10) 2.28 1.2000 30-Sep-16 466.85 1.00000 2.24 (2.63) 2.24 0.00 (1.67) Last business day of Mar, Jun, Sep, DecPYLON-W1 5.30 5.72 (7.29) 6.30 1.76 25-Apr-15 94.93 1.25000 1.49 (4.76) 1.49 0.00 (10.20) Last business day of Jun, DecRML-W3 0.29 0.06 410.29 1.24 2.75 15-May-15 893.84 1.00000 4.28 145.16 1.99 93.19 101.43 Last business day of Mar, Jun, Sep, DecROJNA-W2 5.05 5.39 (6.25) 7.90 3.33 30-Jul-14 13.79 1.19982 1.88 (4.52) 1.88 0.00 (13.07) Last business day of Feb, May, Aug, NovROJNA-W3 3.84 3.70 3.65 7.90 4.00 18-Jul-16 143.12 1.00000 2.06 (0.76) 1.89 38.48 (0.55) Last business day of Feb, May, Aug, NovRS-W2 6.00 6.32 (5.13) 8.30 1.90 19-May-14 68.79 1.00000 1.38 (4.82) 1.38 0.00 (30.32) Last business day of Jun, DecSIMAT-W1 9.00 6.59 36.58 5.45 1.01 28-Aug-14 34.70 1.48210 0.90 29.99 0.90 Very High Very High Last business day of Mar, Jun, Sep, DecSINGHA-W 0.06 0.00 Very High 0.30 6.00 28-Nov-14 112.00 1.00000 5.00 1,920.00 1.65 197.83 Very High Last business day of May, NovSIRI-W1 1.41 1.15 22.84 2.14 1.11 20-Jan-15 1,070.96 1.16700 1.77 8.52 1.54 96.52 16.01 Last business day of Mar, Jun, Sep, DecSLC-W1 0.25 0.10 150.85 1.06 0.94 16-May-15 250.00 0.42500 1.80 44.17 1.43 113.79 57.36 Last business day of May, NovSLC-W2 0.12 0.09 30.71 1.06 0.57 28-Oct-15 606.10 0.17490 1.54 18.50 1.36 91.76 23.83 Last business day of Mar, SepSLC-W3 0.49 0.66 (26.31) 1.06 1.00 14-Sep-16 484.88 1.00000 2.16 40.57 1.62 66.36 21.76 Last business day of Mar and SepSMM-W2 0.34 0.26 32.38 1.48 1.41 25-Apr-14 59.99 1.06666 4.64 16.54 2.99 70.71 51.14 Date on the 25th each monthSPORT-W3 2.68 2.58 4.03 3.92 1.68 21-Apr-15 36.95 1.16153 1.70 1.69 1.58 66.72 2.81 Last business day of Mar, Jun, Sep, DecSPORT-W4 2.30 2.25 2.27 3.92 1.70 15-Aug-14 56.69 1.03058 1.76 0.25 1.68 66.77 0.75 Last business day of Mar, Jun, Sep, DecSTAR-W2 0.63 0.85 (26.08) 3.44 2.90 03-Jun-16 34.00 1.00000 5.46 2.62 5.46 0.00 1.23 3 Jun throughout the life of warrantTASCO-W3 * 5.35 3.14 70.46 58.75 68.41 17-Apr-14 15.25 1.00000 10.98 25.55 4.60 54.86 75.34 Last business day of Mar, Jun, Sep, DecTCC-W1 0.66 0.64 3.92 1.14 0.72 30-Oct-14 13.06 1.39010 2.40 4.72 2.14 49.52 8.27 Last business day of JunTCC-W2 0.52 0.71 (26.26) 1.14 0.82 03-May-18 68.33 1.21782 2.67 9.47 2.43 17.92 3.19 Last business day of Feb, May, Aug, NovTCC-W3 * 0.59 0.79 (25.09) 1.14 0.88 01-Apr-22 92.20 1.14249 2.21 22.05 1.88 23.56 4.11 Last business day of Mar, Jun, Sep, DecTCC-W4 * 0.53 0.68 (22.57) 1.14 1.00 14-May-23 369.78 1.00000 2.15 34.21 1.73 28.52 5.33 Last business day of Mar, Jun, Sep, DecTCJ-W1 4.70 4.48 4.87 12.40 9.80 17-Mar-16 9.15 1.02000 2.69 16.22 2.09 43.80 10.23 Last business day of Mar, Jun, Sep, DecTCMC-W1 1.45 1.73 (16.26) 3.54 2.00 26-Aug-16 171.11 1.00000 2.44 (2.54) 2.44 0.00 (1.56) Last business day of Mar, SepTFD-W2 4.98 4.12 20.97 8.55 5.00 15-May-16 180.41 1.00000 1.72 16.73 1.48 70.40 14.30 Last business day of Mar, Jun, Sep, DecTH-W1 1.18 0.79 49.34 1.57 1.00 09-Sep-17 60.00 1.00000 1.33 38.85 1.19 98.72 27.78 Last business day of SepTICON-W3 1.51 1.10 36.67 18.10 18.84 31-Jan-14 214.68 1.06150 12.72 11.95 6.08 51.11 68.84 Last business day of Mar, Jun, Sep, DecTICON-W6 10.20 10.14 0.58 18.10 7.77 03-Oct-14 3.80 1.02997 1.83 (2.37) 1.79 49.05 (5.78) Last business day of Mar, Jun, Sep, DecTIES-W2 0.53 0.37 42.49 1.23 1.00 14-May-15 223.06 1.00000 2.32 24.39 1.78 73.68 26.54 Last business day of Mar, Jun, Sep, DecTLUXE-W2 0.78 0.41 88.25 2.74 2.50 20-Feb-15 115.49 1.00000 3.51 19.71 2.33 69.55 20.80 Last business day of Mar, SepTMI-W1 1.35 1.40 (3.87) 1.70 0.25 04-Oct-15 191.98 1.00000 1.26 (5.88) 1.26 0.00 (16.18) Last business day of May, NovTPAC-W1 1.44 1.48 (2.76) 5.25 5.00 21-May-16 49.97 1.00000 3.65 22.67 2.47 38.61 11.31 Last business day of Mar, SepTRUBB-W1 0.43 0.05 789.19 2.00 3.20 07-Aug-14 54.52 1.25000 5.81 77.20 2.53 92.56 141.27 Last business day of Jun, DecTRUBB-W1 0.43 0.05 789.19 2.00 3.20 07-Aug-14 54.52 1.25000 5.81 77.20 2.53 92.56 141.27 Last business day of Jun, DecTRT-W2 1.30 1.51 (13.74) 5.40 5.50 05-Oct-15 51.31 1.00000 4.15 25.93 2.63 42.55 16.63 Last business day of May, NovTTA-W3 5.90 5.08 16.19 17.40 17.00 12-Sep-15 139.21 1.00000 2.95 31.61 2.03 59.71 23.57 Last business day of Mar, Jun, Sep, DecTVD-W1 1.40 1.19 17.98 3.72 3.50 14-Jul-16 23.50 1.00000 2.66 31.72 1.89 60.73 16.55 Last business day of Jun, DecTWZ-W2 0.13 0.07 84.95 0.39 0.40 12-Sep-14 1,028.56 1.00000 3.00 35.90 2.00 94.04 66.34 Only 1 time on 12 Sep 2014TYM-W1 0.22 0.02 891.77 3.40 5.00 23-Jun-14 100.00 1.00000 15.45 53.53 4.35 59.15 106.37 Last business day of Mar, SepUAC-W1 3.66 4.28 (14.53) 8.45 6.25 31-Jan-16 91.02 1.20000 2.77 10.06 2.29 34.75 6.77 Last business day of Mar, Jun, Sep, DecUKEM-W1 0.77 0.72 7.69 1.24 0.50 05-Nov-14 134.17 1.00000 1.61 2.42 1.49 93.97 6.42 Last business day of Jun, DecUWC-W1 1.55 1.57 (1.39) 2.48 1.00 13-Nov-15 141.33 1.00000 1.60 2.82 1.55 42.26 3.66 Last business day of Mar, Jun, Sep, DecWAT-W1 0.07 0.00 Very High 0.07 0.40 14-Feb-15 780.00 2.49610 2.50 511.49 1.43 181.67 489.29 Last business day of Jun, DecWAT-W2 0.03 0.00 Very High 0.07 0.40 28-Jun-16 4,149.93 1.00000 2.33 514.29 1.40 129.52 139.13 Last business day of Dec

Stock CoverageBLS Rating Gearing BLS Rating All-in

PremiumTICON-W3 HOLD 12.72 PYLON-W1 BUY (4.76)TICON-W3 HOLD 12.72 ROJNA-W2 BUY (4.52)TTA-W3 HOLD 2.95 KCE-W2 BUY (4.06)ERW-W2 BUY 2.64 KAMART-W HOLD (3.93)ROJNA-W3 BUY 2.06 ERW-W2 BUY (3.75)BTS-W2 BUY 2.05 BTS-W2 BUY (3.16)ROJNA-W2 BUY 1.88 TICON-W6 HOLD (2.37)SIRI-W1 HOLD 1.77 ROJNA-W3 BUY (0.76)KAMART-W HOLD 1.70 SIRI-W1 HOLD 8.52PYLON-W1 BUY 1.49 TICON-W3 HOLD 11.95KCE-W2 BUY 1.42 TTA-W3 HOLD 31.61Note: Rank by Gearing Note: Rank by All-in Premium

*NOTE: BLAND-W2: Details of Warrant Exercise Period Exercise Price (Bt).

- Year 1 From issuance date to the 1st anniversary of the issuance date = Bt1.10.- Year 2 From the following day after the 1st anniversary of the issuance date to the 2nd anniversary of the issuance date = Bt1.30.- Year 3 From the following day after the 2nd anniversary of the issuance date to the 3rd anniversary of the issuance date = Bt 1.50.- Year 4 From the following day after the 3rd anniversary of the issuance date to the 4th anniversary of the issuance date = Bt1.70.- Year 5 From the following day after the 4th anniversary of the issuance date to the 5th anniversary of the issuance date = Bt1.90.

BLAND-W3: Details of Warrant Exercise Period Exercise Price (Bt).- 8 Nov 2010 - 7 Nov 2011 = Bt1.10.- 8 Nov 201 - 7 Nov 2012 = Bt1.30.- 8 Nov 2012 - 7 Nov 2013 = Bt1.50.- 8 Nov 2013 - 7 Nov 2014 = Bt1.70.- 8 Nov 2014 - 7 Nov 2015 = Bt1.90.

BTS-W2: The first exercise date 28 Dec 2012.PF-W3: The first exercise date 28 Sep 2012.TASCO-W3: The first exercise date 31 May 2011.

- Months 1-12 : From the warrant issue date until the end of 12 months period of the warrants (Apr 18, 2011-Apr 17, 2012), the exercise price shall be Baht 62.19 per share (initial exercise price).- Months 13-18 : From the day following the end of 12 months period of the warrants until the end of 18 months period of the warrants (April 18, 2012 - October 17, 2012), the exercise price shall be Baht 63.74 per share (calculated from initial exercise price + 2.5%).- Months 19-24 : From the day following the end of 18 months period of the warrants until the end of 24 months period of the warrants (October 18, 2012 - April 17, 2013), the exercise price shall be Baht 65.30 per share (calculated from initial exercise price + 5.0%).- Months 25-30 : From the day following the end of 24 months period of the warrants until the end of 30 months period of the warrants (April 18, 2013 - October 17, 2013), the exercise price shall be Baht 66.85 per share (calculated from initial exercise price + 7.5%).

- Months 31-36 : From the day following the end of 30 months period of the warrants until the end of the term of the warrants 36 Month (3 years) (October 18, 2013 - April 17, 2014), the exercise price shall be Baht 68.41 per share (calculated from initial exercise price + 10.0%).

TCC-W3: The first exercise date 28 Dec 2012.

Bualuang Securities

Documents

รอบด้านตลาดหุ้น 7 พฤศจิกายน 2556research2.bualuang.co.th/upload/bls131107.pdf · See disclaimer at the end of report รอบด้านตลาดหุ้น