Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ฿0.093 (vs ฿0.091 in 1Q 2025) First quarter 2026 results: EPS: ฿0.093 (up from ฿0.091 in 1Q 2025). Revenue: ฿1.07b (down 18% from 1Q 2025). Net income: ฿59.7m (up 2.6% from 1Q 2025). Profit margin: 5.6% (up from 4.5% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 9% per year. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.17 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 25 May 2026. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 7.2%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (6.5%). Declared Dividend • Mar 02
Dividend of ฿0.17 announced Shareholders will receive a dividend of ฿0.17. Ex-date: 7th May 2026 Payment date: 25th May 2026 Dividend yield will be 7.4%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 28
Siam Steel Service Center Public Company Limited Proposes Cash Dividend for the Period from January 1, 2025 to December 31, 2025, Payable on May 25, 2026 Siam Steel Service Center Public Company Limited Approved to propose the Annual General Meeting of Shareholders for approval, the declaration of dividend from the operating results from January 1, 2025 to December 31, 2025 to the shareholders, amount 639,997,880 shares at the rate of THB 0.165 per share totaling THB 105,599,650.20 the dividend payment from net profit of separate financial statement after tax and reserve fund required by law. The legal reserve of the Company has been provided up to 10% of the registered capital. Thus, no need to provide any additional reserve. The share register will be recorded for share transfer in order to determine the right to receive cash dividend on May 8, 2026. The dividend payment shall be on May 25, 2026. Ex-dividend date is May 7, 2026. Announcement • Feb 26
Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 27, 2026 Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 27, 2026, at 15:00 SE Asia Standard Time. Location: 1stfloor, siam steel international plc., building, no 51 moo 2 poochaosamingprai rd., tambol bangyaprak, amphur phrapradaeng, samutprakarn, Thailand Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.082 (vs ฿0.11 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.082 (down from ฿0.11 in 3Q 2024). Revenue: ฿1.17b (down 11% from 3Q 2024). Net income: ฿52.7m (down 25% from 3Q 2024). Profit margin: 4.5% (down from 5.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.051 (vs ฿0.061 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.051 (down from ฿0.061 in 2Q 2024). Revenue: ฿1.15b (down 6.2% from 2Q 2024). Net income: ฿32.8m (down 16% from 2Q 2024). Profit margin: 2.8% (down from 3.2% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ฿90.88 (vs ฿0.036 in 1Q 2024) First quarter 2025 results: EPS: ฿90.88 (up from ฿0.036 in 1Q 2024). Revenue: ฿1.29b (up 7.0% from 1Q 2024). Net income: ฿58.2m (up 153% from 1Q 2024). Profit margin: 4.5% (up from 1.9% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Upcoming Dividend • May 02
Upcoming dividend of ฿0.17 per share Eligible shareholders must have bought the stock before 09 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 7.4%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (7.8%). Announcement • May 01
Siam Steel Service Center Public Company Limited Approves Dividend Payment for the Operation Results Starting from January 1, 2024 to December 31, 2024, Payable on May 23, 2025 Siam Steel Service Center Public Company Limited announced that at the AGM held on April 30, 2025, approved the dividend payment for the operation results starting from January 1, 2024 to December 31, 2024 to the shareholders 639,997,880 shares in the amount of THB 105,599,650.20 which can be calculated as dividend payment at THB 0.165 per share. And the legal reserve of the Company has been provided up to 10% of the registered capital. Thus, no need to provide any additional reserve. The payment of dividend will be made on May 23, 2025. Declared Dividend • Mar 02
Dividend reduced to ฿0.17 Dividend of ฿0.17 is 26% lower than last year. Ex-date: 9th May 2025 Payment date: 23rd May 2025 Dividend yield will be 8.2%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: ฿0.32 (vs ฿0.42 in FY 2023) Full year 2024 results: EPS: ฿0.32 (down from ฿0.42 in FY 2023). Revenue: ฿4.98b (down 7.7% from FY 2023). Net income: ฿204.2m (down 23% from FY 2023). Profit margin: 4.1% (down from 4.9% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 13% per year. Announcement • Mar 01
Siam Steel Service Center Public Company Limited Proposes Dividend from the Operating Results from January 1, 2024 to December 31, 2024, Payable on May 23, 2025 Siam Steel Service Center Public Company Limited propose the Annual General Meeting of Shareholders to be held on April 30, 2025 for approval, the declaration of dividend from the operating results from January 1, 2024 to December 31, 2024 to the shareholders, amount 639,997,880 shares at the rate of THB 0.165 per share totaling THB 105,599,650.20 the dividend payment from net profit of separate financial statement after tax and reserve fund required by law. The legal reserve of the Company has been provided up to 10% of the registered capital. Thus, no need to provide any additional reserve. The share register will be recorded for share transfer in order to determine the right to receive cash dividend on May 13, 2025. The dividend payment shall be on May 23, 2025. Ex-dividend date is May 9, 2025. Announcement • Feb 28
Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 30, 2025 Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 30, 2025, at 15:00 SE Asia Standard Time. Location: 1stfloor, siam steel international plc., building, no 51, moo 2 poochaosamingprai rd., tambol bangyaprak, amphur phrapradaeng, samutprakarn, Thailand Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.092 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.11 (up from ฿0.092 in 3Q 2023). Revenue: ฿1.31b (down 2.7% from 3Q 2023). Net income: ฿69.8m (up 19% from 3Q 2023). Profit margin: 5.3% (up from 4.4% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ฿0.061 (vs ฿0.11 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.061 (down from ฿0.11 in 2Q 2023). Revenue: ฿1.23b (down 11% from 2Q 2023). Net income: ฿38.9m (down 44% from 2Q 2023). Profit margin: 3.2% (down from 5.0% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: ฿0.036 (vs ฿0.13 in 1Q 2023) First quarter 2024 results: EPS: ฿0.036 (down from ฿0.13 in 1Q 2023). Revenue: ฿1.21b (down 14% from 1Q 2023). Net income: ฿23.0m (down 71% from 1Q 2023). Profit margin: 1.9% (down from 5.7% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 02
Upcoming dividend of ฿0.22 per share Eligible shareholders must have bought the stock before 09 May 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 7.3%. Within top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (5.1%). Announcement • May 02
Siam Steel Service Center Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on May 24, 2024 Siam Steel Service Center Public Company Limited announced that at its AGM held on April 30, 2024, approved dividend payment for the operation results starting from January 1, 2022 to December 31, 2022 in the amount of THB 0.222 per share. Payment date is May 24, 2024. Record date is May 10, 2024. Declared Dividend • Feb 29
Dividend of ฿0.22 announced Shareholders will receive a dividend of ฿0.22. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 7.3%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 9.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿0.42 (vs ฿0.34 in FY 2022) Full year 2023 results: EPS: ฿0.42 (up from ฿0.34 in FY 2022). Revenue: ฿5.40b (down 2.4% from FY 2022). Net income: ฿266.4m (up 22% from FY 2022). Profit margin: 4.9% (up from 4.0% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Dec 08
Siam Steel Service Center Public Company Limited Announces Appointment of the Audit Committee Siam Steel Service Center Public Company Limited announced that The Board of Director meeting of SIAM STEEL SERVICE CENTER PUBLIC COMPANY LIMITED held on 28 February 2023 resolved the meeting's resolutions in the following manners: Appointment of the audit committee: As follows: Chairman: Mr. Pongsak Angsupun; Members of the audit committee Mr. Vichit Vuthisombut, Assoc.Prof.Dr. Sucharit Koontanakulvong, Mr. Damri Sukhotanang. The appointment /renewal of which shall take an effect as of 19 March 2023. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: ฿0.092 (vs ฿0.099 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.092 (down from ฿0.099 in 3Q 2022). Revenue: ฿1.34b (down 3.1% from 3Q 2022). Net income: ฿58.7m (down 7.8% from 3Q 2022). Profit margin: 4.4% (down from 4.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ฿0.11 (vs ฿0.086 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.11 (up from ฿0.086 in 2Q 2022). Revenue: ฿1.38b (up 1.3% from 2Q 2022). Net income: ฿69.3m (up 25% from 2Q 2022). Profit margin: 5.0% (up from 4.1% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ฿3.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 37%. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.12 in 1Q 2022) First quarter 2023 results: EPS: ฿0.13 (up from ฿0.12 in 1Q 2022). Revenue: ฿1.40b (down 1.8% from 1Q 2022). Net income: ฿80.1m (up 4.5% from 1Q 2022). Profit margin: 5.7% (up from 5.4% in 1Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of ฿0.18 per share at 6.2% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 54% but the company is paying out more than the cash it is generating. Trailing yield: 6.2%. Within top quartile of Thai dividend payers (6.2%). In line with average of industry peers (5.8%). Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: ฿0.086 (vs ฿0.074 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.086 (up from ฿0.074 in 2Q 2021). Revenue: ฿1.37b (up 23% from 2Q 2021). Net income: ฿55.3m (up 16% from 2Q 2021). Profit margin: 4.1% (down from 4.3% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Aug 16
Siam Steel Service Center Public Company Limited Announces Director Changes The board of directors of Siam Steel Service Center Public Company Limited at a meeting no.3/2022 held on August 15, 2022, Approved Mr. Shigeji Anraku resigned from the board of directors for the company because of his private business and cannot further the position, according to resignation letter of the directorship of Mr. Shigeji Anraku dated August 10, 2022. Received by the company on August 11, 2022 and appointed Mr. Taku Yamada to be a director, by the resignation and appoint a replacement effect from October 1, 2022 onwards. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ฿2.74, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 6x in the Metals and Mining industry in Thailand. Total returns to shareholders of 25% over the past three years. Upcoming Dividend • May 02
Upcoming dividend of ฿0.23 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 27 May 2022. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Thai dividend payers (5.1%). In line with average of industry peers (6.5%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Damri Sukhotanang was the last independent director to join the board, commencing their role in 2009. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.37 (up from ฿0.12 in FY 2020). Revenue: ฿4.69b (up 36% from FY 2020). Net income: ฿235.1m (up 212% from FY 2020). Profit margin: 5.0% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 02
Siam Steel Service Center Public Company Limited Proposes Dividend for the Year Ended December 31, 2021, Payable on May 27, 2022 The board of directors of Siam Steel Service Center Public Company Limited at a meeting held on February 28, 2022, approved to propose the Annual General Meeting of Shareholders for approval, the declaration of dividend from the operating results from January 1, 2021 to December 31, 2021 to the shareholders, amount 639,997,880 shares at the rate of THB 0.230 per share totaling THB 147,199,512.40 the dividend payment from net profit of separate financial statement after tax and reserve fund required by law. The share register will be recorded for share transfer in order to determine the right to receive cash dividend on May 10, 2022. The dividend payment shall be on May 27, 2022. Announcement • Mar 01
Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 29, 2022 Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 29, 2022, at 08:00 Coordinated Universal Time. Location: Conference room, 1st Floor, Siam Steel International Plc, Building No. 51 Moo 2 Poochaosamingprai Rd, Tambol Bangyaprak, Amphur Phrapradaeng, Samutprakarn Province Samut Prakarn Thailand Agenda: To ratify the minutes of the Annual Ordinary Shareholders' Meeting No. 1/2021 held on April 30, 2021; to acknowledge the previous year's operation and next year projected plan of the Board; to consider the approval of the balance sheet and income statement of the fiscal period from January 1, 2021 to December 31, 2021; to consider the allocation of the profit for legal reserves and dividend payment for year 2021 operational results; to consider the election of new directors in place of the retired directors by Rotation; to consider the remuneration for the director for year 2022; to consider the appointment of auditor and fixing his remuneration; and to consider any other matters. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ฿0.12 (vs ฿0.03 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.21b (up 55% from 3Q 2020). Net income: ฿79.5m (up 309% from 3Q 2020). Profit margin: 6.5% (up from 2.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS ฿0.074 (vs ฿0.025 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.11b (up 77% from 2Q 2020). Net income: ฿47.5m (up ฿63.8m from 2Q 2020). Profit margin: 4.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿0.075 (vs ฿0.059 in 1Q 2020) The company reported a solid first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: ฿1.07b (flat on 1Q 2020). Net income: ฿48.1m (up 27% from 1Q 2020). Profit margin: 4.5% (up from 3.6% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 04
Upcoming dividend of ฿0.11 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 28 May 2021. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (4.8%). Lower than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improved over the past week After last week's 25% share price gain to ฿3.42, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 19x in the Metals and Mining industry in Thailand. Total returns to shareholders of 19% over the past three years. Is New 90 Day High Low • Mar 08
New 90-day high: ฿2.42 The company is up 12% from its price of ฿2.16 on 08 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 30% over the same period. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS ฿0.12 (vs ฿0.19 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿3.46b (down 21% from FY 2019). Net income: ฿75.4m (down 37% from FY 2019). Profit margin: 2.2% (down from 2.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Feb 26
Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 30, 2021 Siam Steel Service Center Public Company Limited, Annual General Meeting, Apr 30, 2021, at 15:00 SE Asia Standard Time. Location: conference room, 1stFloor, Siam Steel International Plc Building, No. 51 Moo 2 Poochaosamingprai Rd., Tambol Bangyaprak Amphur Phrapradaeng, Samutprakarn Province Bangkok Thailand Agenda: To ratify the Minutes of the Annual Ordinary Shareholders' Meeting No.1/2020 held on April 30, 2020; to acknowledge the previous year's operation and next year projected plan of the Board; to consider the approval of the balance sheet and income statement of the fiscal period from January 1, 2020 to December 31, 2020; to consider the allocation of the profit for legal reserves and dividend payment for year 2020 operational results; to consider the election of new directors in place of the retired directors by Rotation; to consider the remuneration for the director for year 2021; to consider the appointment of auditor and fixing his remuneration; to consider for approval, the addition of the Company Objectives and amend the Company Memorandum Clause 3; and to consider any other matters (if any). Is New 90 Day High Low • Jan 07
New 90-day high: ฿2.38 The company is up 24% from its price of ฿1.92 on 08 October 2020. The Thai market is up 18% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ฿2.16 The company is up 12% from its price of ฿1.93 on 09 September 2020. The Thai market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Metals and Mining industry, which is up 11% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ฿0.03 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿786.2m (down 28% from 3Q 2019). Net income: ฿19.4m (down 51% from 3Q 2019). Profit margin: 2.5% (down from 3.6% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 02
New 90-day low: ฿1.89 The company is down 5.0% from its price of ฿2.00 on 04 August 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 6.0% over the same period. 
