Kaohoon’s Top News on May 5, 2021

Thai Airways (THAI)’s Acting President Chansin said firmly that THAI never asks the government for returning the state-owned enterprise status and insisted that the Ministry of Transport has no involvement in this rehabilitation as they are not one of THAI’s creditors.  He also disagreed with the proposal of setting up Thailand’s new flag carrier by the Bhumjaithai Party, stating it is about vested interests in political parties.

Meanwhile Transport Minister Saksayam said the establishment of a new national flag carrier to replace THAI is the best way not to waste state expenditure.   

 

Inter Pharma (IP) is set to report an excellent 1Q21 result over the boom in wellness products, but maintaining revenue growth target in 2021 at 700-800 million baht. Analysts recommend “BUY” and a target price of ฿27.00/share in anticipation of a new high profit of 24 million baht in 1Q or an increase of 73% YoY.

 

ACE and SUPER are ready to compete for acquiring the 400-MW community waste-to-energy plant project after the Ministry of Energy scheduling to begin an open tender for power procurement by the second half of this year.  

 

Intouch Holdings (INTUCH) reported a 1Q21 net profit of 2,660 million baht, dropping 3% YoY due to lower contributions from ADVANC and THCOM. ADVANC’s earnings decreased 1.7% to 6,644 million baht as D&A rose  from  new spectrum  and  expansion. THCOM’s core profit was 111 million baht, falling 43.6% YoY. 

While DTAC recorded a net profit of 822 million baht in 1Q, down 45.2% YoY. Hence the company has revised its revenue target in 2021 to remain flat. 

 

TMB planned the spin-off of its 400-billion bath leasing business to list on the stock exchange. The bank expected full-year earnings to surpass 10 billion baht. Thus analysts agreed to rate “BUY” on TMB with an highest target price of ฿1.45/share, and also stating that the share is still laggard compared to its peers. 

 

Thailand’s Food and Drug Administration (FDA) to grant the approval for Moderna Covid-19 vaccine within this May. BDMS already ordered 5 million doses of Moderna vaccine, while Vibhavadi Hospital ordered 1 million doses. Meanwhile, Sputnik V and Covaxin are waiting for approval as well.

As of May 3th, Thailand has already distributed about 1.49 million Covid-19 vaccine shots. Analysts said the 3rd wave of pandemic will continue to weigh on SET this week. The index should move in the range of 1,550-1,590. Recommending to avoid Domestic play.