Kaohoon’s Top News on April 1, 2021

– SAWAD fully advanced in the auto loan market after its subsidiary company SCAP has acquired 90% stake in “S Leasing” to expand the new motorcycle hire purchase business, setting loans with a 2021 target of 20 billion baht, representing an increase of 300%. “Thida Kaewbootta” said the acquisition of S Leasing will boost SAWAD to deliver comprehensive loan servicing solutions, stating that the new motorcycle loan campaign has a high profit potential. 

Analyst believes S Leasing will be a key driver of SAWAD this year, giving a target price of ฿101.00/share.

 

– GULF announced its GSRC power project under the IPP scheme in Chonburi has already commenced the sale of electricity generated from its first unit with an installed capacity of 662.5MW, while the commercial operation for units 2-4 is scheduled to commence in October 2021, March 2022, and October 2022, respectively, with a 25-year PPA. 

 

– JMART booked 1.86 billion baht from warrant conversion, saying that it will later convert to JMT-W2 and SINGER-W2 to strengthen the company’s financial position, as well as to reduce financial cost.

 

– TPCH expected 2021 revenue of 3.2 billion baht, compared to a 1.8 billion baht revenue in 2020, targeting to establish 10 new subsidiary companies in preparation for the community power plant project. The company also expressed confidence that total production capacity will reach its goal of 250MW with 2022.

 

– IRPC gave a green light to the 5-year external fundraising plan (2021 – 2025) to be used for investment and/or working capital in Baht or USD currency equivalent to 50,000 million baht. The analyst recommended “BUY” with a target price of ฿4.50/share in anticipation of a bright prospect in 1Q21 as petrochemical spreads remain strong.

 

– PF confirmed to make a turn around this year, projecting a revenue of 21,370 million baht in line with real estate market recovery. The company also expected its new rubber gloves business, which is scheduled to begin manufacturing in May, to generate about 3,000 million baht revenue this year.