Thailand’s Prime Minister Anutin Charnvirakul praised Vietnam for hosting the ASEAN Future Forum 2026, highlighting the platform as a vital venue for exchanging perspectives on the region’s future amid significant global changes.
These changes include geopolitical divisions, shifts in global trade patterns, rapid technological advancements, and the impacts of climate change. The Prime Minister emphasized that both the regional and global systems are in a period of transition towards a new order, presenting ASEAN with both crucial risks and opportunities.
On the corporate front, analysts at CGS International Securities (Thailand) revised up the EPS forecasts for WHA Corporation Public Company Limited (SET: WHA) for 2026–2028 by 0.7–2.4%, reflecting new water supply contracts with clients for 17–29 million cubic meters. This upward revision leads to a new target price of THB 5.70, representing a P/E of 14.1x in 2027. CGSI believes WHA deserves a higher valuation due to positive structural factors, including investment momentum in data centers and digital infrastructure in Thailand, maintaining a “Buy” recommendation.
For Amata Corporation Public Company Limited (SET: AMATA), CGSI upgraded EPS forecasts for 2027–2028 by 2.3–5.2% after adjusting revenue and gross profit margin assumptions from land sales. The new target price is THB 30.00, with a P/E of 9.0x in 2027. CGSI expects AMATA to benefit from the upcycle in data center investments and long-term income opportunities in its solar business, reiterating its “Buy” call.
In Q1 2026, AMATA secured new land sales totaling 106 rai, all to data center service providers. It expects land sales to data centers to rise from 116 rai in 2025 to 230 rai in 2026, increasing their share from 9.4% to 19.6%. Full-year land sales are projected at 1,172 rai, below AMATA’s target of 2,800 rai. However, land sales are expected to increase to 200 rai in Q2 2026 and 866 rai in the second half, supported by a backlog of 300 rai from 2025 and active interest from clients in data centers, EV supply chains, electronics, and F&B sectors totaling 1,000 rai. AMATA also announced the closing of a 187.5-rai land deal in its Vietnam project in May 2026, to be recognized in Q2–Q3 land sales.
