Kaohoon’s Top News on August 4, 2021

– Today (August 4) is the last day for Gulf Energy Development (GULF) to make a tender offer for Intouch Holdings’ stocks (INTUCH). Prior to the Tender Offer, GULF owned 29% of INTUCH shares. Analysts believe GULF might acquire more than 40% in INTUCH after the Securities and Exchange Commission (SEC) relaxed some regulations to allow for additional transactions after the Tender Offer closes at a price not exceeding 65 baht per share. GULF is projected to post a net income of 5,310 million baht for the first half of this year, down 7% year on year, and pay an interim dividend of 1.10 baht.

– Srisawad Corporation (SAWAD) advanced its lending service offices in PTT stations in collaboration with PTT Oil and Retail Business (OR). The company is expected to report a 2Q21 net profit of 1.21 billion baht, up 23%. 

– Advanced Info Service (ADVANC) posted better-than-expected earnings of 7,041 million baht in 2Q with an interim dividend payment of up to 3.45 baht per share. August 16 is the XD date. While profit remained flat at 13,865 million baht in the first half of the year. CGS-CIMB Securities (Thailand) recommends that investors monitor ADVANC’s potential sale of 30-80% of its assets to establish an infrastructure fund.

– PTT‘s second-quarter operating results for 2021 are scheduled to be released on August 11, 2021. Analysts anticipate a net profit of 25,749 million baht, up 114% year on year, on the back of a 4% increase in gas sales, which aligned to the peak period for electricity demand. Analysts rate PTT as a “BUY” with a target price of 48 baht.

– AMR Asia (AMR) revealed its sizable investment plans for the second half of 2021,  anticipating the acquisition of new projects totaling 2,000 million baht per year. Three analysts believe AMR’s upside potential is considerable, setting a target price of 8-8.70 baht.