Kaohoon’s Top News on May 7, 2021

PTT Exploration and Production (PTTEP) expected to report high earnings growth in 2Q21 toward a big jump in sales from the Block 61 project. EBITDA margin is tended to stand at 70-72%. The company also stated that the Gas to Power project does go according to plan.

Meanwhile, Indorama Ventures (IVL) announced earnings of 6,008 million baht in 1Q21, up 952% YoY, from improving sales volume in all businesses.

 

Don Muang Tollway (DMT) set to begin trading in the SET today (May 7). Analysts estimated the share price to edge beyond its IPO of ฿16.00/share. Managing Director Tarnin said listing on the stock exchange will improve liquidity and financial position of DMT. The company aimed to participate in the new public private partnerships (PPP) project, the motorway under the government’s 20-year national strategy. Additionally, DMT has approved a dividend payment from the 2020 operation at ฿0.50/share to be paid on May 28, 2021.

 

Tisco Financial Group (TISCO) said the NPL could surge to 3.5% from 2.5% after the Bank of Thailand extending loan payment holiday as the 3rd wave of Covid-19 is threatening Thai economy. However, TISCO is convinced that it has set aside sufficient expected credit loss. 

Analysts foresaw following loan holidays extended, banks are likely to set aside higher provisions, which could pressure earnings in 2Q21. For investment strategy, they recommended “BUY” on BBL and a target price of ฿160.00/share due to limited impact from Covid-19.

 

Sermsang Power Corporation (SSP) targeted to commence the COD of 2 new power plant projects with a combined installed capacity of 58.4MW by the second half of this year.  While expecting full-year revenue growth of 20% in 2021. The company assured that the total production capacity will reach 400MW within the next 3-5 years, with a main investment focus on ASEAN market. 

 

New tech stock Ditto (Thailand) (DITTO) closed its first trading day with a 113% jump, the share was traded as high as ฿16.00/share. This reflected investors’ confidence in DITTO’s potential growth. CEO Takorn estimated revenue growth of 20-30% this year.

 

The Private Hospital Association announced that about 5 million doses of Moderna Covid-19 vaccine will be available in the group members’ hospital within this year. Also, stating that members agreed to charge less than 4,000 baht for 2 vaccine shots.