My latest highest yield solid pick -with ample share trading volume.

 I now like PRIMA MARINE PUBLIC COMPANY LIMITED (PRM, 6.00). The company described itself as follows:

"The Company Group provides one-stop services of shipment and floating storage units of crude oil, refined oil products, and liquefied petrochemicals to the customers upon customer demands and provides services of Offshore Support Vessel for petroleum exploration and production, and ship management. The core businesses of the Company Group are classified into 4 types of business as follows: 1. Oil and Petrochemical Tanker Business (?Trading Business?) 2. Floating Storage Unit (?FSU?) Business (?FSU Business?) 3. Offshore Support Vessel Business (?Offshore Business?) 4. Ship Management Business."

PRM stock price used to be as high as 9 Baht early this year while presently trading near a record low (not considering the Covit-meltdown).  Even while its revenues and net profits have increased all along, likely to hit a record this year  As the first 6 months EPS was reported at 0.51 Baht for the first 6 months, vs. 0.90 (a record) for all of last year 2024. 

You can see their financial performance at this SET link:   https://www.set.or.th/en/market/product/stock/quote/PRM/financial-statement/company-highlights
PRM first listed on 14 Sep 2017, IPO Price 8.00 Par Value 1.00 Baht which has, its PAR value, remained constant.  Its earnings per share (EPS) have since increased considerably and it paid a handsome dividend all along. Its net profit margin is an attractive 20+%.   To me PRM is another investor "bargain which goes begging", and while one awaits one gets some 20+ times more in tax favored dividends compared to Thai savings accounts. Its not a small cap. as it mkt. cap is nearly 1/2 Bill. US$.

PRM trades at a barely trailing p/e of 6.4  and price to book at 1.18.   In its latest financial reporting mgt states the 2 Q were affected by some ship maintenance, now ended. And its second half should be better due to new efficient vessels coming on board.  Here is their exact statement:

"The net profit for the first six months of 2025 slightly declined from 2024, primarily due to the scheduled dry docking of a VLCC and an AWB vessel for maintenance, as well as the docking of an Aframax vessel for conversion into a Floating Storage and Offloading (FSO) unit. All vessels have now resumed normal operations. Additionally, the deployment of four new vessels in the OSV business since the first half of the year is expected to support performance growth in the second half of 2025, in line with the company’s targets".

PRM of late has also been buying back its own shares on the open market for some months already, called treasury stock.Like so many other listed companies this year. (in fact a record).  It is not affected by US tariffs.  There has also been some insider buying of late, even while not substantial.  Its stock trades regularly in the millions of shares per day!   At a present levels I think PRM is considerably undervalued, hence I would rate it a strong-buy.  PRM pays dividends twice a year and I expect another announcement of around 0.20 to 0.24 Baht per share, in mid October.  Hence, I am projecting 0.46 to 0.48 Baht for this year, or a current yield of 8%, one of the highest on the SET!  I took a look at its annual report and executive mgt. which struck me as high quality.

Best Regards to all members,