Kaohoon’s Top News on July 21, 2021

– Maybank Kim Eng Securities (MBKET) recommends six stocks that reported record earnings in 2Q21, despite market volatility due to the Covid situation. Sonic Interfreight (SONIC) skyrocketed 487% on the back of a rise in freight rate and truck loan, with a given target price of 6.50 baht. Wice Logistics (WICE)’s earnings surged 66.8%, Singer Thailand (SINGER)’s earnings rose 60%, with a given target price of 50 baht, SIS Distribution (Thailand) (SIS)’s earnings climbed 33%, with a given target price of 45 baht. M.C.S.Steel (MCS)’s net profit rose 42%, with a given target price 18.50 baht and Ziga Innovation (ZIGA)’s net profit gained 54.5%. 

– Srinanaporn Marketing (SNNP) closed 13.04% higher or an increase of ฿1.20/share to ฿10.40/share on its first trading day (July 20, 2021), with a trading value of 4,866 million baht. The company expects the total revenue to reach 8,000 million baht by 2026. Analysts estimate SNNP’s 2021 earnings at 437 million baht, an increase of 356.84% YoY, recommending “BUY” with a target price of 13.50 baht. 

– The Electricity Generating Authority of Thailand (EGAT) teams up with PTT to proceed with the construction of a 3 million ton per year LNG storage project in Southern Thailand, with an estimated investment value of more than 40 billion baht, to supply gas to the 1,400 megawatt Phunphin power plant. The system’s electrical supply is anticipated to begin in 2027-2029.

– Thailand’s Department of Disease Control has inked a contract to supply 20 million doses of Pfizer vaccine. Thailand will receive the first batch of vaccines in the fourth quarter of this year, and another 50 million doses next year. Analysts predict a rebound in the SET Index, setting resistance at 1,550 points and support between 1,520 and 1,500 points.

– TMBThanachart Bank (TTB) reported a net profit of 2.5 billion baht in 2Q21, decreasing  by 18%. Despite a decline in earnings, the fund is still high, CAR at 19.1% and coverage ratio at 139%. Meanwhile, Bank of Ayudhya (BAY)’s 2Q21 earnings rose 123% YoY to 14.5 billion baht due to significant gains from Ngern Tid Lor (TIDLOR)’s transaction.