Kaohoon’s Top News on March 12, 2021

– Property developers to rejoice as the loan-to-value (LTV) limit at 80% for the 2nd property loan will be eased on April 1, 2021. SIRI, AP and SPALI are expected to take the most advantages from this issue. Analysts assess property stocks are still laggard, but the conclusion of LTV rule for mortgages will spur house sales.

SIRI approved a dividend payment of ฿0.04/share (yield 4.21%) with an XD on March 15, while AP handed out a dividend payment of ฿0.45/share (yield 5.59%).

 

– ORI set aside about 10,000 million baht for investing this year, budgeting approx. 8,000 million baht for real estate business and 2,000 million baht for  businesses in logistics, asset management (AMC) and healthcare. Mr. Peerapong, Chief Executive Officer of ORI, disclosed that ORI will grow 26% to 14,000 million baht in 2021. 

 

– Analysts expect MONO–JTS to make a turnaround in 2021, foreseeing a rebound in MONO since 1Q21 as results of higher revenue recognitions from MONOMAX-3BB GIGA TV. Meanwhile the merger with JASTEL is expected to create business synergy and increase the opportunities for JTS, particularly, for the enhancement of the data center and cloud service, analysts believe the net profit to reach 100 million baht.

 

– The Constitutional Court yesterday (March 11) allowed Parliament to proceed with a constitution amendment but a referendum is requested to be held prior drafting. Analysts are positive with this issue as it would buoy the SET Index to 1,650 points, recommending banking-laggard play (BBL, KBANK, TISCO), energy play (PTT), and ICT play (ADVANC). 

At the same time, the CCSA plans further relaxing Covid-19 restrictions by allowing celebrating Songkran festival in masks. Analysts believe AAV, MINT and CENTEL will be benefited.

 

– DOD signed an MOU with CHAYO to fully advance in hemp-based products, targeting to launch 8 products within this year. Furthermore, DOD will apply to the Food and Drug Administration for licenses of selling hemp seed and CBD production.

 

– SPCG set a revenue growth target of 5,500 million baht in 2021 due to gains from solar farms in EEC phase I by 3Q21, citing that the company would recognize additional 2,500 million baht if all the 500MW is commence the COD.