Kaohoon’s Top News on January 26, 2021

– The Ministry of Finance (MoF) expected to fully exercise its rights to subscribe 154 million shares of OR’s IPO at a total value of 2.8 billion baht. The fund will be from its stock-portfolio account and partly from selling BCP’s shares to Vayupak Funds. The analyst viewed the move as only an adjustment in MoF’s portfolio, and would not affect the movement of BCP’s share price.

– JR rose nearly 5% in yesterday’s trading session after the Stock Exchange of Thailand lifted the “cash balance” measure, while acquiring a contract for the project purchase of a communication system for SCADA/EMS in a total value of 232,676,850.00 baht. Currently, the company has a backlog of 6.6 billion baht, and is expecting to acquire two big projects related to the MRT’s Pink and Yellow Line Phase 2 at year’s end.

– TQM joined hands with Shopee to penetrate an e-commerce market, debuting with Covid-19 insurance. The company expected to add car insurance, health insurance and accident insurance in the near future, while stating that the digital platform will enable the company to reach more customers, which would result in higher profit. TQM expected the revenue and profit in 4Q20 to make an all time high. The analyst estimated TQM’s 4Q20 earnings at 220 million baht, an increase of 51%, and gave a target price at ฿168.00/share.

– Analysts gave a “BUY” recommendation on TU with a target price as high as ฿19.00/share, estimating 4Q20 earnings to come in at 1,230-1,420 million baht, an increase of 16-18%. The outstanding earnings in 4Q would support TU’s yearly earnings to reach 6,000-6,200 million baht, an increase of 52-60%, mainly due to higher sales revenue from selling frozen and canned seafood during Covid-19 pandemic.

– PTTEP Director Mr. Auttapol Rerkpiboon is confident that every business sector will recover in 2021 in response to higher oil and petrochemical demand. The company is expecting to lower its production cost to $25 per barrel and moving forward to invest in new businesses.

– NRF planned to announce its earnings on February 25, 2021, and revealed that the result was in line with the target and would continue to outperform in 2021. The company is expecting to invest 200 million baht to establish another plant-based food factory. The analyst forecasted NRF’s profit in 4Q20 to reach an all-time high at 82 million baht, while recording 144 million baht for the year.