Thai Stock Case Files
One Thai listed company per episode, read from its own documents — MD&A, Form 56-1 One Report, the auditor's report and Opportunity Day. One question, every claim traced to a page or a minute, and a section on what the documents do not yet say. No price targets, no buy or sell calls.
DELTA Q3 2026: Inventory Nearly Doubled — Thai Stock Case File #2
DELTA Q3 2026: Inventory Nearly Doubled — Thai Stock Case File #2
Delta Electronics (Thailand) (DELTA, SET50), Q3 2026: last quarter the company wrote that inventory pressure was expected to gradually ease in the coming quarter. This quarter revenue rose 42.4%, inventory was up 98.5% in nine months, and the same sentence came back. We read four MD&As, five years of auditor's reports, the Opportunity Day recording and three peers to see what eased and what did not. Written 3 November 2026. No price target.
SCGP Q3 2026: Indonesia Turns a Profit — Thai Stock Case File #1
SCGP Q3 2026: Indonesia Turns a Profit — Thai Stock Case File #1
SCG Packaging (SCGP, SET50), Q3 2026: from 2022 to 2024 the company itself named Indonesia as the market with the heaviest packaging-paper price pressure; this quarter it credits Indonesia for its year-on-year profit growth. We read six MD&As, the Opportunity Day deck and the goodwill note to see how far the documents confirm that turnaround — and what they still do not say. Written 3 November 2026 from documents as of that date. No price target.