Thai E-Finance News reported that Maybank Securities (Thailand) stated that STECON is advancing state projects, with the Ministry of Transport preparing to submit the Phase 2 dual-track railway project worth 110 billion baht to the mobile cabinet meeting today, boosting sentiment for the contractor group. It is expected that STECON will secure private contracts from data centers during 2H69-1H70, pushing its 2026 backlog to 167 billion baht, a new all-time high. Meanwhile, GULF benefits from the IPP power plant auction after the Energy Policy and Planning Office opens public hearings on the PDP 2026 plan on September 8, with a net D/E ratio of only 0.86 times and 2026 profit growth of 12% YoY.
STECON Group Public Company LimitedSTECON expected to secure private contracts from data centers, pushing 2026 backlog to new high.
Gulf Energy Development Public Company LimitedGULF benefits from IPP power plant auction after public hearings on PDP 2026 plan.
