US Equities
A round-up of US equities to watch
Group Research - Equities18 Jul 2024
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Company

Sector

DBS Rating

DBS Target Price (USD)

1Y perf (%)

Market cap
(USD b)

Fwd. P/E (x)

Div. yield (%)

P/B (x)

ROE (%)

Abbvie Inc

Health Care

Hold

138.00

25.3

302.2

15.9

3.6

-

-

Accenture PLC

Information Technology

Hold

300.00

1.8

206.5

27.5

1.6

7.4

26.2

Adobe

Information Technology

Buy

703.00

4.6

246.9

30.7

-

16.8

34.2

Advanced Micro Devices

Information Technology

Buy

227.20

32.1

251.8

44.6

-

4.5

2.0

Affirm Holdings

Financials

Hold

45.00

81.1

9.5

-

-

3.6

-26.4

Airbnb Inc

Consumer Discretionary

Hold

145.00

0.2

94.6

31.1

-

11.8

74.9

Albemarle Corp

Materials

Buy

187.00

-60.4

11.0

42.5

1.7

1.2

3.5

Alphabet

Communication Services

Buy

220.00

43.6

2,205.2

23.5

0.1

7.5

29.8

Amazon.com

Consumer Discretionary

Buy

235.00

38.3

1,912.2

34.9

-

8.8

20.3

American Airlines

Industrials

Hold

12.00

-43.1

6.9

5.5

-

-

-

AMERICAN EXPRESS CO

Financials

Hold

235.00

40.0

179.3

19.2

1.0

6.2

32.4

Amgen Inc

Health Care

Buy

310.00

42.3

177.5

17.0

2.6

35.4

72.6

Analog Devices

Information Technology

Buy

237.30

21.6

118.6

38.1

1.5

3.4

6.0

Apple Inc

Information Technology

Buy

243.00

15.7

3,437.6

33.9

0.4

46.3

147.2

Applied Materials

Information Technology

Hold

209.70

50.6

180.2

25.9

0.6

9.9

45.2

Aptargroup Inc

Materials

Hold

149.50

22.8

9.7

27.7

1.1

4.1

14.0

Atlantica Sustainable Infrastructure

Utilities

Hold

22.00

-6.3

2.6

39.1

8.1

1.9

3.4

Automatic Data Processing

Industrials

Hold

243.00

4.9

101.3

27.0

2.2

21.9

88.9

Avangrid

Utilities

Hold

35.75

-4.7

13.7

15.7

5.0

0.7

4.5

Bank of America

Financials

Hold

41.00

40.1

336.4

13.2

2.2

1.3

8.7

Becton Dickinson and Co

Health Care

Buy

285.00

-9.6

67.0

17.8

1.6

2.6

5.1

Berkshire Hathaway Inc

Financials

Hold

405.00

27.9

952.3

21.1

-

-

13.6

BlackRock Inc

Financials

Buy

900.00

12.2

124.0

20.0

2.4

3.1

15.3

Booking Holdings Inc

Consumer Discretionary

Buy

4450.00

31.8

133.4

22.4

0.4

-

-

Bristol-Myers Squibb Co

Health Care

Hold

45.00

-31.6

85.9

82.8

5.6

5.2

-25.5

Broadcom

Information Technology

Buy

200.00

77.7

747.2

33.3

1.3

10.7

22.3

Brookfield Renewable

Utilities

Buy

33.00

-17.7

16.1

-

5.7

-

-3.9

Charles River Laboratories International

Health Care

Hold

188.70

8.6

11.3

19.9

-

3.1

13.0

Charles Schwab Corp

Financials

Buy

85.00

-5.7

113.8

20.1

1.6

2.6

12.3

Chevron

Energy

Buy

182.00

5.3

299.2

13.0

3.9

1.9

12.7

Citi Group Inc

Financials

Hold

60.00

38.0

123.8

11.2

3.3

0.7

3.7

Clearway Energy

Utilities

Buy

30.00

-7.2

4.9

19.9

6.4

-

3.7

Coca Cola

Consumer Staples

Hold

58.00

7.6

280.8

23.1

2.9

10.6

41.8

Cognizant Technology Solutions Corp

Information Technology

Buy

85.00

9.8

37.8

16.5

1.6

2.8

16.0

Coinbase

Financials

Hold

220.00

123.0

57.3

35.1

-

7.1

19.6

Colgate-Palmolive

Consumer Staples

Buy

102.00

29.9

80.8

27.9

2.0

351.4

-

Conocophillips

Energy

Buy

140.00

7.2

136.4

13.5

2.7

2.8

21.8

Costco Wholesale

Consumer Staples

Buy

1061.00

55.1

372.1

51.8

2.3

17.1

31.6

Daqo New Energy Corp

Information Technology

Buy

25.00

-56.5

1.1

30.7

-

0.2

3.4

Delta Air Lines

Industrials

Buy

60.00

-7.1

29.0

7.1

0.9

2.3

43.8

DIGITAL REALTY TRUST INC

Real Estate

Buy

170.00

31.8

51.2

90.6

3.2

2.6

6.5

Electronic Arts

Communication Services

Buy

165.00

5.5

38.9

19.7

0.5

5.2

17.2

Eli Lilly and Co

Health Care

Buy

960.00

88.1

806.8

62.0

0.6

63.0

51.1

EOG Resources

Energy

Buy

155.00

9.1

76.0

11.0

3.8

2.7

27.2

Equinix Inc

Real Estate

Buy

955.00

-0.1

75.5

73.4

2.0

6.1

7.7

Estee Lauder

Consumer Staples

Hold

135.00

-48.5

34.7

43.5

2.7

6.0

11.0

Expedia Group Inc

Consumer Discretionary

Hold

135.00

10.3

17.7

11.2

-

20.0

59.3

Exxon Mobil

Energy

Buy

133.00

17.7

532.9

13.3

3.2

2.3

16.2

First Solar Inc

Information Technology

Buy

210.00

6.0

22.9

15.7

-

3.3

16.0

FISERV INC

Financials

Hold

146.00

21.9

92.3

18.1

-

3.2

11.0

Ford Motor

Consumer Discretionary

Hold

13.00

2.7

58.1

7.2

4.1

1.4

9.2

Freeport-McMoRan Inc

Materials

Buy

56.00

13.6

66.0

27.6

1.3

3.9

10.0

Futu Holdings Limited

Financials

Buy

90.00

42.9

8.9

13.8

-

1.8

17.2

General Motors

Consumer Discretionary

Hold

50.00

26.9

56.6

5.2

0.8

0.8

15.6

Gilead Sciences Inc

Health Care

Buy

74.00

-6.0

91.6

19.7

4.1

5.2

2.5

Globalfoundries

Information Technology

Buy

79.70

-13.4

32.4

44.4

-

2.9

8.4

Goldman Sach

Financials

Buy

470.00

44.2

162.4

13.3

2.3

1.5

9.9

HILTON WORLDWIDE

Consumer Discretionary

Hold

201.60

46.0

54.8

31.0

0.3

-

-

Home Depot Inc

Consumer Discretionary

Hold

340.00

15.6

363.0

23.8

2.4

199.5

1,363.0

Intel

Information Technology

Hold

38.60

1.1

148.4

32.4

1.4

1.4

4.0

International Business Machines Corp

Information Technology

Hold

185.00

36.8

170.1

18.5

3.6

7.3

36.5

Intuit

Information Technology

Buy

760.00

28.7

178.2

37.9

0.6

9.5

16.9

JinkoSolar Holding Co Ltd

Information Technology

Buy

34.20

-51.3

1.1

9.1

6.9

0.4

17.0

Johnson & Johnson

Health Care

Hold

170.30

-2.3

374.0

15.4

3.1

5.3

54.6

JP Morgan

Financials

Buy

233.00

36.7

603.0

12.0

2.1

1.9

17.4

Kimberly-Clark

Consumer Staples

Hold

124.00

7.6

48.5

20.2

3.3

45.3

184.6

Kingsoft Cloud Holdings Ltd

Information Technology

Buy

4.90

-57.5

0.7

-

-

0.7

-27.7

KLA

Information Technology

Buy

977.00

62.6

106.0

33.7

0.7

34.3

90.4

Kraft Heinz

Consumer Staples

Hold

35.00

-4.9

41.0

11.2

4.7

0.8

5.7

Lam Research

Information Technology

Buy

1190.00

45.2

124.5

32.0

0.8

15.5

43.9

Lyft

Industrials

Hold

16.00

5.6

5.0

17.8

-

10.2

-42.2

MARATHON PETROLEUM CORP

Energy

Buy

221.00

37.8

58.0

12.8

2.0

2.5

31.7

Marriott International

Consumer Discretionary

Hold

267.40

26.0

69.7

25.7

0.9

-

-

Marvell Technology

Information Technology

Buy

90.00

3.7

59.0

48.7

0.4

4.1

-6.5

Mastercard

Financials

Buy

540.00

12.7

417.1

31.4

0.6

57.7

188.4

Mcdonald's

Consumer Discretionary

Buy

339.00

-11.7

187.0

21.4

2.5

-

-

Medtronic PLC

Health Care

Hold

82.00

-6.2

104.1

14.9

3.4

2.1

7.2

Mercadolibre

Consumer Discretionary

Buy

2100.00

34.3

82.3

47.8

-

24.3

41.6

Merck & Co Inc

Health Care

Buy

168.00

17.3

314.7

14.6

2.4

7.8

5.3

Meta Platforms

Communication Services

Buy

580.00

52.5

1,207.2

23.0

0.2

8.1

33.4

Micron Technology

Information Technology

Buy

167.10

80.9

130.2

95.8

0.4

2.9

-3.4

Microsoft

Information Technology

Buy

531.00

22.5

3,273.0

37.3

0.7

12.9

38.5

Moderna Inc

Health Care

Buy

169.00

-1.1

46.5

-

-

3.6

-37.7

Mondalez International Inc

Consumer Staples

Buy

78.00

-7.2

89.8

19.2

2.5

3.2

15.1

Morgan Stanley

Financials

Buy

108.00

14.0

170.3

14.9

3.2

2.0

11.3

Netflix

Communication Services

Buy

790.00

35.4

277.1

34.8

-

12.8

31.6

Nextera Energy

Utilities

Buy

90.00

-0.5

147.3

20.9

2.7

3.0

16.4

Nike

Consumer Discretionary

Hold

75.00

-34.0

109.2

22.4

2.0

6.1

40.1

Nvidia

Information Technology

Buy

135.00

155.0

2,978.8

44.6

0.0

60.9

115.7

ON Semiconductor Corp

Information Technology

Buy

91.40

-28.1

32.5

18.7

-

4.0

29.9

Oracle

Information Technology

Buy

150.00

14.3

380.4

22.1

1.2

43.7

214.1

PayPal

Financials

Hold

62.00

-19.3

62.8

14.3

-

3.1

21.4

Pepsi Co

Consumer Staples

Buy

202.00

-7.6

234.0

20.9

3.0

12.0

51.3

Pfizer Inc

Health Care

Buy

39.00

-18.0

168.4

12.5

5.6

1.8

-0.3

PHILLIPS 66

Energy

Hold

162.00

36.1

58.4

14.5

3.1

2.0

19.3

Pioneer Natural Resources

Energy

Hold

245.00

-

#VALUE!

11.8

2.8

-

20.9

Procter & Gamble

Consumer Staples

Buy

175.00

12.8

397.5

25.7

2.3

8.1

32.0

Prologis Inc

Real Estate

Buy

148.00

-1.1

113.5

41.3

3.0

2.1

5.3

Qualcomm

Information Technology

Buy

260.00

55.8

213.7

19.3

1.7

8.7

38.0

Regeneron Pharmaceuticals Inc

Health Care

Buy

1250.00

46.9

117.6

24.2

-

4.4

15.3

Robinhood

Financials

Hold

14.50

81.3

20.1

43.8

-

2.9

1.8

Salesforce

Information Technology

Buy

352.00

8.7

239.7

25.0

0.3

4.3

9.3

Sanofi SA

Health Care

Buy

67.00

-6.3

127.5

12.0

3.3

-

7.3

SoFi Tech

Financials

Buy

10.00

-21.3

8.0

81.0

-

1.4

-3.4

Starbucks Corp

Consumer Discretionary

Hold

77.00

-26.4

84.0

20.8

3.0

-

-

S&P Global Inc

Financials

Buy

502.00

14.9

155.2

33.9

0.7

4.4

8.0

Take-Two Interactive Software

Communication Services

Buy

175.00

-2.1

25.8

59.0

-

4.5

-50.9

Target Corp

Consumer Staples

Buy

188.00

16.3

70.4

16.4

2.9

5.1

32.5

Teradyne

Information Technology

Buy

167.50

27.6

23.3

47.8

0.3

9.0

17.2

Tesla

Consumer Discretionary

Hold

240.00

-15.0

794.8

100.6

-

12.3

24.2

Texas Instruments

Information Technology

Buy

204.20

12.1

187.4

39.4

2.5

11.0

36.5

TJX Companies Inc

Consumer Discretionary

Buy

132.00

32.7

127.7

27.3

1.2

17.0

66.8

Uber Technologies

Industrials

Buy

95.00

39.8

138.5

58.8

-

12.5

14.4

United Airlines Holdings

Industrials

Buy

65.00

-15.3

15.3

4.8

-

1.4

32.2

Upstart Holdings

Financials

Hold

24.00

-47.3

2.5

-

-

4.0

-28.3

VALERO ENERGY CORP

Energy

Buy

150.00

28.0

48.3

11.4

2.8

1.9

27.5

Vertex Pharmaceuticals Inc

Health Care

Hold

359.00

36.0

126.0

28.6

-

6.8

24.4

Visa

Financials

Buy

320.00

11.8

552.6

27.0

0.7

12.7

48.7

Walmart

Consumer Staples

Buy

78.00

37.5

569.6

29.1

1.1

7.0

24.6

Walt Disney Co/The

Communication Services

BUY

134.00

12.6

176.5

20.3

0.8

1.8

1.7

Wells Fargo & Co

Financials

Hold

60.00

29.9

206.5

11.7

2.4

1.3

11.0

West Pharmaceutical Services Inc

Health Care

Buy

460.00

-17.7

23.0

40.9

0.2

8.6

20.8

Workday

Information Technology

Buy

352.00

1.0

61.1

33.7

-

7.5

21.1

Yum! Brands

Consumer Discretionary

Hold

144.00

-4.1

36.1

22.6

2.0

-

-

Zoom Video Communications

Information Technology

Hold

62.00

-18.2

18.3

11.7

-

2.2

11.3


Source: Bloomberg Finance L.P., DBS Bank
Valuation as of 18 Jul 2024

 

Topic

Disclaimers and Important Notices


GENERAL DISCLOSURE/DISCLAIMER 

This report is prepared by 
DBS Bank LtdThis report is solely intended for the clients of DBS Bank Ltd, DBS Vickers Securities (Singapore) Pte Ltd, its respective connected and associated corporations and affiliates only and no part of this document may be (i) copied, photocopied or duplicated in any form or by any means or (ii) redistributed without the prior written consent of DBS Bank Ltd.      

The research set out in this report is based on information obtained from sources believed to be reliable, but we (which collectively refers to DBS Bank Ltd, DBS Vickers Securities (Singapore) Pte Ltd, its respective connected and associated corporations, affiliates and their respective directors, officers, employees and agents (collectively, the “DBS Group”) have not conducted due diligence on any of the companies, verified any information or sources or taken into account any other factors which we may consider to be relevant or appropriate in preparing the research.  Accordingly, we do not make any representation or warranty as to the accuracy, completeness or correctness of the research set out in this report. Opinions expressed are subject to change without notice. This research is prepared for general circulation. Any recommendation contained in this document does not have regard to the specific investment objectives, financial situation and the particular needs of any specific addressee. This document is for the information of addressees only and is not to be taken in substitution for the exercise of judgement by addressees, who should obtain separate independent legal or financial advice. The DBS Group accepts no liability whatsoever for any direct, indirect and/or consequential loss (including any claims for loss of profit) arising from any use of and/or reliance upon this document and/or further communication given in relation to this document. This document is not to be construed as an offer or a solicitation of an offer to buy or sell any securities. The DBS Group, along with its affiliates and/or persons associated with any of them may from time to time have interests in the securities mentioned in this document. The DBS Group, may have positions in, and may effect transactions in securities mentioned herein and may also perform or seek to perform broking, investment banking and other banking services for these companies.

Any valuations, opinions, estimates, forecasts, ratings or risk assessments herein constitutes a judgment as of the date of this report, and there can be no assurance that future results or events will be consistent with any such valuations, opinions, estimates, forecasts, ratings or risk assessments. The information in this document is subject to change without notice, its accuracy is not guaranteed, it may be incomplete or condensed, it may not contain all material information concerning the company (or companies) referred to in this report and the DBS Group is under no obligation to update the information in this report. 

This publication has not been reviewed or authorized by any regulatory authority in Singapore, Hong Kong or elsewhere.
There is no planned schedule or frequency for updating research publication relating to any issuer. 

The valuations, opinions, estimates, forecasts, ratings or risk assessments described in this report were based upon a number of estimates and assumptions and are inherently subject to significant uncertainties and contingencies. It can be expected that one or more of the estimates on which the valuations, opinions, estimates, forecasts, ratings or risk assessments were based will not materialize or will vary significantly from actual results. Therefore, the inclusion of the valuations, opinions, estimates, forecasts, ratings or risk assessments described herein IS NOT TO BE RELIED UPON as a representation and/or warranty by the DBS Group (and/or any persons associated with the aforesaid entities), that: 

(a)   such valuations, opinions, estimates, forecasts, ratings or risk assessments or their underlying assumptions will be achieved, and

(b)  there is any assurance that future results or events will be consistent with any such valuations, opinions, estimates, forecasts, ratings or risk assessments stated therein.

Please contact the primary analyst for valuation methodologies and assumptions associated with the covered companies or price targets.

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For any query regarding the materials herein, please contact Dennis Lam (Reg No. AH8290) at [email protected] 

Indonesia

This report is being distributed in Indonesia by PT DBS Vickers Sekuritas Indonesia. 

Malaysia

This report is distributed in Malaysia by AllianceDBS Research Sdn Bhd ("ADBSR"). Recipients of this report, received from ADBSR are to contact the undersigned at 603-2604 3333 in respect of any matters arising from or in connection with this report. In addition to the General Disclosure/Disclaimer found at the preceding page, recipients of this report are advised that ADBSR (the preparer of this report), its holding company Alliance Investment Bank Berhad, their respective connected and associated corporations, affiliates, their directors, officers, employees, agents and parties related or associated with any of them may have positions in, and may effect transactions in the securities mentioned herein and may also perform or seek to perform broking, investment  banking/corporate advisory and other services for the subject companies. They may also have received compensation and/or seek to obtain compensation for broking, investment banking/corporate advisory and other services from the subject companies.                                                                                                                                                                                               
                                                                                                               Wong Ming Tek, Executive Director, ADBSR 

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This report is distributed in Singapore by DBS Bank Ltd (Company Regn. No. 196800306E) or DBSVS (Company Regn No. 198600294G), both of which are Exempt Financial Advisers as defined in the Financial Advisers Act and regulated by the Monetary Authority of Singapore. DBS Bank Ltd and/or DBSVS, may distribute reports produced by its respective foreign entities, affiliates or other foreign research houses pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, DBS Bank Ltd accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact DBS Bank Ltd at 6878 8888 for matters arising from, or in connection with the report.

Thailand

This report is being distributed in Thailand by DBS Vickers Securities (Thailand) Co Ltd. 

For any query regarding the materials herein, please contact Chanpen Sirithanarattanakul at [email protected]

United Kingdom

This report is produced by DBS Bank Ltd which is regulated by the Monetary Authority of Singapore.

This report is disseminated in the United Kingdom by DBS Bank Ltd, London Branch (“DBS UK”). DBS Bank Ltd is regulated by the Monetary Authority of Singapore. DBS UK is authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.

In respect of the United Kingdom, this report is solely intended for the clients of DBS UK, its respective connected and associated corporations and affiliates only and no part of this document may be (i) copied, photocopied or duplicated in any form or by any means or (ii) redistributed without the prior written consent of DBS UK. This communication is directed at persons having professional experience in matters relating to investments. Any investment activity following from this communication will only be engaged in with such persons. Persons who do not have professional experience in matters relating to investments should not rely on this communication.

Dubai International Financial Centre

This communication is provided to you as a Professional Client or Market Counterparty as defined in the DFSA Rulebook Conduct of Business Module (the "COB Module"), and should not be relied upon or acted on by any person which does not meet the criteria to be classified as a Professional Client or Market Counterparty under the DFSA rules.

This communication is from the branch of DBS Bank Ltd operating in the Dubai International Financial Centre (the "DIFC") under the trading name "DBS Bank Ltd. (DIFC Branch)" ("DBS DIFC"), registered with the DIFC Registrar of Companies under number 156 and having its registered office at units 608 - 610, 6th Floor, Gate Precinct Building 5, PO Box 506538, DIFC, Dubai, United Arab Emirates.

DBS DIFC is regulated by the Dubai Financial Services Authority (the "DFSA") with a DFSA reference number F000164. For more information on DBS DIFC and its affiliates, please see http://www.dbs.com/ae/our--network/default.page.

Where this communication contains a research report, this research report is prepared by the entity referred to therein, which may be DBS Bank Ltd or a third party, and is provided to you by DBS DIFC. The research report has not been reviewed or authorised by the DFSA. Such research report is distributed on the express understanding that, whilst the information contained within is believed to be reliable, the information has not been independently verified by DBS DIFC.

Unless otherwise indicated, this communication does not constitute an "Offer of Securities to the Public" as defined under Article 12 of the Markets Law (DIFC Law No.1 of 2012) or an "Offer of a Unit of a Fund" as defined under Article 19(2) of the Collective Investment Law (DIFC Law No.2 of 2010).

The DFSA has no responsibility for reviewing or verifying this communication or any associated documents in connection with this investment and it is not subject to any form of regulation or approval by the DFSA. Accordingly, the DFSA has not approved this communication or any other associated documents in connection with this investment nor taken any steps to verify the information set out in this communication or any associated documents, and has no responsibility for them. The DFSA has not assessed the suitability of any investments to which the communication relates and, in respect of any Islamic investments (or other investments identified to be Shari'a compliant), neither we nor the DFSA has determined whether they are Shari'a compliant in any way.

Any investments which this communication relates to may be illiquid and/or subject to restrictions on their resale. Prospective purchasers should conduct their own due diligence on any investments. If you do not understand the contents of this document you should consult an authorised financial adviser.

United States

This report was prepared by DBS Bank Ltd.  DBSVUSA did not participate in its preparation.  The research analyst(s) named on this report are not registered as research analysts with FINRA and are not associated persons of DBSVUSA. The research analyst(s) are not subject to FINRA Rule 2241 restrictions on analyst compensation, communications with a subject company, public appearances and trading securities held by a research analyst. This report is being distributed in the United States by DBSVUSA, which accepts responsibility for its contents. This report may only be distributed to Major U.S. Institutional Investors (as defined in SEC Rule 15a-6) and to such other institutional investors and qualified persons as DBSVUSA may authorize.  Any U.S. person receiving this report who wishes to effect transactions in any securities referred to herein should contact DBSVUSA directly and not its affiliate. 

Other jurisdictions

In any other jurisdictions, except if otherwise restricted by laws or regulations, this report is intended only for qualified, professional, institutional or sophisticated investors as defined in the laws and regulations of such jurisdictions. 




HONG KONG
DBS Bank (Hong Kong) Ltd
Contact: Dennis Lam
13th Floor One Island East,
18 Westlands Road,
Quarry Bay, Hong Kong
Tel: 852 3668 4181
Fax: 852 2521 1812
e-mail: [email protected]

SINGAPORE
DBS Bank Ltd
Contact: Andy Sim
Marina Bay Financial Centre Tower 3
Singapore 018982
Tel: 65 6878 8888
e-mail: [email protected]
Company Regn. No. 196800306E



INDONESIA
PT DBS Vickers Sekuritas (Indonesia)
Contact: Maynard Priajaya Arif
DBS Bank Tower
Ciputra World 1, 32/F
Jl. Prof. Dr. Satrio Kav. 3-5
Jakarta 12940, Indonesia
Tel: 62 21 3003 4900
Fax: 6221 3003 4943
e-mail: [email protected]



THAILAND
DBS Vickers Securities (Thailand) Co Ltd
Contact: Chanpen Sirithanarattanakul
989 Siam Piwat Tower Building,
9th, 14th-15th Floor
Rama 1 Road, Pathumwan,
Bangkok Thailand 10330
Tel. 66 2 657 7831
Fax: 66 2 658 1269
e-mail: [email protected]
Company Regn. No 0105539127012
Securities and Exchange Commission, Thailand