Kaohoon’s Top News on July 6, 2021

– The Board of Directors of Major Cineplex Group (MAJOR) on Monday (July 5) approved the disposition of Siam Future Development (SF) in the amount of 647,16 million shares, or representing 30.36% of the total issued shares to Central Pattana (CPN) at the purchase price of 12.00 baht per share, in the total amount of 7,765 million baht.

MAJOR expects to realize post-tax gain from sale of SF shares of approximately 2,824 million baht.

After the completion of the transaction, CPN is required to make a tender offer for the remaining shares in SF at the same price as that of the purchase price of 12.00 baht per share as specified in the sales purchase agreement, in an approximate amount of 17,817 million baht.

– Mr. Nopporn Suppipat argued that Mr. Nop Narongdej’s statement claiming that the Singapore Court of Appeal had given a final and binding ruling absolving Nop Narongdej of the need to make a bonus payment was a fraud. Mr. Nopporn reaffirmed that the lawsuit is not yet concluded and that Mr. Nop is still required to pay the share payment of 762 million baht.

– The Securities Analysts Association (Thailand) anticipates the SET Index to reach 1,647 points by year’s end, and recommends investing in the top six stocks, including BDMS, BEM, CPALL, GPSC, KBANK, and TU.

– IRPC invested 13.3 billion baht in developing and improving the Ultra Clean Fuel (UCF) project in order to accomplish the Euro 5 emissions standard by January 2024.

Meanwhile, Energy Absolute (EA) has partnered with China’s CRCCSA to jointly develop battery-hybrid trains and high-speed train service centers.

– Mr. Piti Tantakasem, Chief executive of TMBThanachart (TTB), announced the successful merger of the two companies. Analysts forecast a target price of 1.51 baht, based on the company’s expected net income of 20 billion baht next year. 

– Aeon Thana Sinsap (Thailand) (AEONTS) reported a net profit of 1,15 million baht in 1Q21 (March-May 2021), an increase of 117% YoY, due to higher provisioning in the first quarter. NPLs decreased to 5.7%, while the NPL Coverage ratio increased to 237%. Analysts recommend keeping an eye on Krungthai Card (KTC), anticipating a 42% increase in net profits to 1.65 billion baht.