Analyst Estimates MTC’s Better-Than-Expected 3Q Profit of ฿1.31Bn, Giving “BUY” at ฿69

Analysts estimated MTC to report a net profit of 1.31 billion baht, an increase of 20.9% YoY due to an expansion of its loan portfolio.The executive cars loan to grow next year, while revealing that Institutional Investors and Foreign Investors still hold MTC’s portion at 12% and 15%, respectively. The analyst recommended “BUY” with a target price at ฿69.00/share.

 

Chairman of the Executive Committee of Muangthai Capital Public Company Limited (MTC) Mr.Chuchat Petaumpai revealed that MTC has not received any impact from the ongoing mass demonstrations as it did not take place during working hours and most of its target clients reside in the provincial area.

 

For 3Q20 performance, Mr.Chuchat affirmed a strong growth quarterly due to an increase of interest and fee income from loans receivables after lockdown measures were lifted. He also stated that its loan portfolio would expand by 20-25% this quarter, driving up a higher profit and income.

 

Regarding investors proportion, Institutional Investors and Foreign Investors still hold MTC’s portion at 12% and 15%, respectively, while Individual Investors hold approx. 5%.

 

Tisco Securities expected MTC’s performance upside in 3Q20 to record a net profit of 1.31 billion baht, increasing 20.9% YoY, assessing income from loans to continually expand in this quarter as well supported by school reopenings and harvest season. Tisco has given a “BUY” recommendation on MTC with a target of ฿69.00/share