Shares of Stecon Group Public Company Limited, or STECON, rose 3.19% to 19.40 baht at 11:55 a.m., with trading value of 788.11 million baht. Asia Plus Securities assessed that STECON is among the construction contractor stocks with a chance to benefit directly from the acceleration of public infrastructure investment, after the draft annual budget expenditure bill for fiscal year 2027, worth 3.788 trillion baht, passed deliberation. The bill allocates about 789 billion baht for investment, accounting for 20.8% of the total budget. Meanwhile, the Ministry of Transport is preparing to push forward 262 investment projects covering roads, railways, electric trains, ports and airports, along with nearly 395 billion baht in local-level budgets, which could add construction and maintenance work in the regions. Asia Plus Securities views that the acceleration of investment disbursement and the opening of bids for large projects, especially rail systems, motorways, expressways and logistics infrastructure, will increase the company's opportunities to compete for new work, and maintains its Buy recommendation on STECON with a fair value of 23 baht per share, holding a positive view on the outlook for public investment over the next one to three years. However, the timing of new contract wins still depends on progress in bid openings, contract signings and government budget disbursement.
STECON Group Public Company LimitedAsia Plus maintains a Buy rating with a 23 baht fair value on STECON.
Asia Plus Group Holdings PCL