Kaohoon’s Top News on July 7, 2021

– B.Grimm Power (BGRIM) will spend up to 300 billion baht achieving 10,000MW capacity and 100 billion baht in revenue by 2030. Meanwhile, despite denying intentions to raise capital over the next five years, BGRIM expects to advance its investment through M&A in Thailand and overseas with a total capacity of 300-500MW to support the company’s growth into a world-leading energy producer.

– Central Pattana (CPN) acquired 30.36% of the total issued and outstanding shares of Siam Future Development (SF), with the transaction set to close in August 2021. This share acquisition deal will allow the company to extend its retail portfolio and strengthen its partnership with Ikea.  Analysts anticipate that CPN will immediately recognize income from such transactions. Additionally, analysts forecast that synergies from SF’s land bank will accelerate CPN’s revenue growth to 10% each year.

– SCB Securities (SCBS) highlights five top stocks for 3Q21, including CRC, GPSC, PM, RJH, and SFT, forecasting a move in the Thai stock market from hope to growth. SCBS anticipates the SET Index will hit 1,600 points by the end of 2022.

– Sermsang Power Corporation (SSP) gained 7.80% yesterday (July 7) on the back of a big lot transaction of 31.93 million shares at an average price of 12.10 baht per share. Meanwhile, rumor has it that the big lot was from Mr. Sura Khanittaweekul and Mr. Pongsak Thummathoucharee. SSP’s Extraordinary General Meeting of Shareholders held on 6 July 2021 approved an investment of 500 million baht in a 9.9-MW biomass power plant project in Nakhon Ratchasima.

– Mena Transport (MENA), Thailand’s largest land-based freight transporter, will begin trading on the SET today (July 7). Analysts anticipate the share price to climb somewhat above the 1.20 baht IPO price, citing the company’s low P/E of 20.69x and a discount on P/E of an average of 30.8-31.5x. Mrs. Suwanna Kajonwuttidet, Chairman of MENA’s Executive Committee, is confident about the company’s prospects. MENA’s target price has been set at 1.56 baht per share by five analysts.