Elevator Pitch
I maintain my "Neutral" rating on Thailand-listed telecommunications company, True Corporation Public Company Limited (OTC:TCPFF) [TRUE:TB], the second-largest mobile operator in Thailand.
There are concerns that Advanced Info Service could have an edge in the 5G era, as it has acquired more 5G spectrum than competitors; but True Corporation has refuted such claims. True Corporation's financial position has deteriorated in the past year, but it still needs to fund capital expenditures. True Corporation's funding options include issuing new bonds denominated in Thai baht or USD, injecting assets into Digital Telecommunications Infrastructure