Kaohoon’s Top News on July 16, 2021

– Krungthai Card (KTC) recorded a net profit of 1.63 billion baht in the second quarter of this year, up 42% YoY due to lower provisions setting. Meanwhile, Tisco Financial Group (TISCO) earned 1.6 billion baht, a 25% raise YoY, leading to a total net income of 3.43 billion baht in the first half of 2021, up 22% YoY. Analysts believe the two-month moratorium on debt repayments will have no effect on banking stocks, but urge keeping an eye on Ngern Tid Lor (TIDLOR), which is likely to announce a net profit of 820 million baht, up 192% YoY, next Monday.

– Thonburi Healthcare Group (THG) postpones the signing of a contract to import 20 million Pfizer vaccine doses to today (July 16). The first 5 million doses are expected to ship to Thailand by the end of July. The company anticipates to make a turnaround to profit in 2Q21, rebounding from net loss in 1Q21, owing to an increase in service revenue.

– The Energy Regulatory Commission granted LNG shipper licenses to PTT Global LNG (PTTGL) and The Siam Cement (SCC). This is Thailand’s sixth and seventh LNG import license, following those granted to EGAT, GULF, Hin Kong Power Holdings, BGRIM, and EGCO. Currently, seven shippers are qualified for a 488,000-tonne annual LNG import quota in 2021. The quota will increase to 1.74 million-tonne in 2022.

– The Court of Appeal for Specialized Cases ordered the Football Association of Thailand to compensate Siam Sport 450 million baht after the FAT terminated the privilege management contract in an unfair manner during the presidency of Pol. Gen. Somyot Poompanmuang.

– Winnergy Medical (WINMED) will apply for a license to import and sell specialized antivirus tools (Panthers) and solutions within 3Q21, with the goal of increasing full-year revenue by 20%. Meanwhile, Saintmed (SMD) anticipates a turnaround in net profit as demand for automatic defibrillators (AED) increases, expecting a total order value of at least 100 million baht.

– Global Power Synergy (GPSC) announced another massive deal to acquire a 25% stake in Taiwan’s wind farms with a combined capacity of 595 megawatts for 16 billion baht. The transfer is expected to be completed by the end of 2Q22. Analysts believe that this transaction will add 5-10% to GPSC’s estimated 10-year earnings growth.