Kaohoon’s Top News on March 30, 2021

– BTS’s subsidiary joined hands with AEONTS and HUMAN to establish “Rabbit Cash Company Limited”, with the registered capital of 800 million baht, in order to provide lending services through digital platform, which is expected to launch in June 2021. The new joint venture will focus more on freelancers with a low interest rate loan for welfare. Analysts recommended “BUY” on VGI and HUMAN with a target price of ฿9.00/share and ฿13.00/share, respectively.

 

– Thai National Shippers’ Council (TNSC) said the Suez canal ship stuck incident that caused   a backlog of more than 300 ships waiting to cross, could lead to shipping delay upto 2 weeks. Analysts assessed that with over 300 ships having been stalled, freight rates could rise, thus it was seen as a positive towards shipping stocks (TTA–PSL) and logistics stocks (WICE–LEO–III–SONIC).

 

– State Railway of Thailand (SRT) on March 30 has entered into contract signing with 3 companies: NWR–ITD–UNIQ, for the Thai-China HSR Development for Regional Connectivity. NWR acquired the contract 4-3: civil works for Nava Nakhon-Ban Pho section worth 11.5 billion baht. ITD signed for the contract 4-4: civil works for EMU depot, heavy maintenance base and dispatching center of Chiang Rak Noi worth 6.5 billion baht. Meanwhile, UNIQ acquired contract 4-6: civil works for Phra Kaew-Saraburi section worth 9.4 billion baht.

 

– The analysts expected Local Institutions to conduct the window dressing before presenting their 1Q financial statement, recommending 3 hot stocks: BBL (TP: ฿154), STEC (TP: ฿18) and MAJOR (TP: ฿24).

 

– The Energy Regulatory Commission expressed concerns over the Erawan field transition, worrying that the possible delay in entering the gas field of PTTEP could lead to discontinue production. However, the commission has affirmed that it still has enough gas inventories. 

 

– RT expected its earnings in 2021 to continue reaching a record high with 27% growth around 3,600 million baht, showing a backlog of 4,240 million baht. The company also stated that it will continue to bid for more projects this year such as the Den Chai – Chiang Rai project and the project for moving electricity wires to underground in Bangkok, which would add up to its backlog to reach 7,000 million baht at the end of the year, an increase from 3,600 million baht in 2020.