Kaohoon’s Top News on October 1, 2020

– TRUE is expected to sell an additional 3.28% of DIF in the fourth quarter of 2020 after a big lot disposition of 2.804% yesterday. The company stated that the disposition is for its working capital, while DIF’s executives affirmed that the company will offer a dividend yield at the same level. The analyst expected a dividend yield of 7.5% and recommended a target price at ฿16.90/share for DIF.

– MICRO expected a surge on its first trading day while its P/E is as low as 14x. The growth rate is also expected to increase 30.6% p.a. over its hire purchase financing for second-hand trucks. MICRO’s 1H20 profit came in at 62.5 million baht, increased 52.1% from the same period last year. Analysts expected a fair value for MICRO at 3.20-3.78 baht per share.

– SET reaffirmed the resume of the normal short selling and floor & ceiling limitation as the stocks have less fluctuation and the coronavirus pandemic started to stabilize.

– BOT is concerned about the lack of the Ministry of Finance for too long and would affect the Thai economy, while expecting the special visa for tourists would not have a significant impact on Thai GDP this year. The Central Bank forecasted Thai GDP to contract 8.5%.

– The analyst expected PTTEP’s net profit in 3Q20 at 5.9 billion baht, an increase of 36% from the previous quarter as its production increased and the average selling price started to recover.