Kaohoon’s Top News on March 5, 2021

– SCB will float PACE a loan of 1.5 billion baht for continuing the development of Nimit Langsuan project following the Bankruptcy Court’s order in advance of transferring it to clients. The bank is confident that PACE will start to repay the first 5 billion baht debt within 2022. Regarding the Dean & DeLuca, Inc.’s business rehabilitation, SCB stated that it is currently under debt restructuring.

Meanwhile, Mr. Sarut Ruttanaporn, the President of SCB, disclosed that the bank expects  a moderate loan growth of 3-5% this year, to mainly distribute from wealth management and bancassurance businesses.  

 

– “Supattanapong” expects, once the economy recovers, the power generation reserve will return to the normalized level, also stating that the 30,000MW Royal Thai Army Solar Farm project is still under feasibility study.

 

– A 5% spike in share price of TKS yesterday was expected to be supported by a positive operating result of SYNEX, which TKS owns 40% stake. On March 1, 2021, the Board of Directors of TKS has approved an additional dividend payment for the year 2020 at the rate of ฿0.20/share to be paid on May 21, 2021. The Ex-dividend date is March 15, 2021.

Analysts suggest a short-term speculation on SYNEX, while recommend “BUY” on TKS with a target price of ฿11.70/share.

 

– NRF invested in a world-class e-commerce platform to drive towards a 3,000-million baht revenue milestone faster than previously forecasted for 2024 and set the growth target at 20% higher than 2020 as derived from growth of three business groups especially the plant-based food group, together with M&A and joint venture investment.

 

– PTTEP was upset after being deprived of entering Erawan field, saying that a delay could provide a great damage on natural gas production which is scheduled to commence in 2022. Meanwhile EGCO targets to increase installed capacity by 1,000MW with a 37-billion baht capital expenditure, and also set a budget of 150 billion baht for a five-year plan to expand business domestic and overseas.

 

– Analyst revised SAWAD’s target price to ฿101.00/share despite P/E ratio was lowest among banking sector compared to MTC, KTC and SINGER. SAWAD set to book an extra profit from Fast Money in 1Q21, expecting a full-year net profit to reach 5.7 billion baht, an increase of 25.8% YoY.