Kaohoon’s Top News on August 6, 2021

– Gulf Energy Development (GULF) concluded its tender offer for Intouch Holdings (INTUCH) by acquiring a total of 42.25 percent interests, displacing Singaporean telecommunications giant Sintel as the company’s major shareholder. GULF is projected to gain approximately 5,000 million baht through INTUCH this year. Analysts forecast INTUCH to earn 11,700 million baht for the full year.

– Indorama Ventures’ (IVL) second-quarter earnings exceeded all expectations, with a net profit of 8,339 million baht, up more than 5,000% year on year, on sales revenue of 3,559 million dollars, up 52%. As a result, the company had a net profit of 14,438 million baht in the first six months of 2021.

– Land and House (LH) plans to release its consolidated financial statement on August 10, anticipating a profit of 30 billion baht by the end of the year. Mr. Adisorn Thananun-Narapool, Managing Director of LH, disclosed that the company intends to open new eight low-rise residential projects costing 6 billion baht to meet increased demand. LH is expected to generate earnings of 1,757 million baht in 2Q21 (up 26%) and 3,502 million baht in 6M21 (up 27.9%), with analysts recommending a “BUY” rating and a target price of 9-9.50 baht.

– WICE Logistics (WICE) unveiled a three-year investment plan for 2022-2024, with a focus on expanding its warehouses by additional 100,000 square meters. WICE Supply Chain Solutions Co., Ltd. recently opened a new warehouse in Bang Na-Trad on a 10,000-square-meter land plot to service retail and e-commerce businesses. The company anticipates that this new warehouse will earn between 100 and 500 million baht in annual revenue.  

– CGS-CIMB Securities Thailand recently published an analysis of foreign inflows to the Thai stock market, indicating that international investors began returning to the SET in early August. BCH, BDMS, CPF, DTAC, EA, KTC, OR, PTTEP, PTTGC, SCB, and STA are the top buying stocks.

– PTT Exploration and Production (PTTEP) expects entering the Erawan gas field in the next 1-2 months to establish operations in preparation for production to begin. PTTEP anticipates a reduction in production capacity to 500 MMSCFD during the transition phase, although the company will supply gas extracted from the Arthit and Bongkot gas blocks, as well as import 300 MMSCFD of LNG, to compensate for the loss in gas supply.