Material improvement in RoIC & gearing; maintain Buy Maoye International Non core divestment is the key Yum Cha HSBC-Thailand：A mild recession: 2Q GDP contracts-130819 Nawarat Patanakarn：A Poor 2Q13; Forecasts Cut Thai Metal Trade PCLEarnings Set To Recover In 2H13 Sansiri Net Profit Cut On High Expenses Steel/Non-ferrous metal Sufficient saleable resources but uncertain sales outlook It’s all up from here