Kaohoon’s Top News on May 6, 2021

Thai banking sector plunged yesterday (May 5) over the government’s debt moratorium concerns. However, analysts believe banks will be able to handle this situation well. In response to the ongoing pandemic, Thai banks prudently set aside a sufficient loan loss provision to ensure adequate and effective protection. 

The Bank of Thailand foresaw that if the Covid-19 vaccine shot reaches 100 million doses by this year, Thai GDP could expand 2%. 

Analysts recommended Covid play like BCH and STGT and Global play such as JWD, SCGP and TVO.

 

Prima Marine (PRM) collaborated with its Japanese leading logistics ally Nippon Yusen Kabushiki Kaisha (NYK) to procure very large crude carriers (VLCC) for Thaioil under 10-year contract.  

 

The Siam Cement (SCC) revealed that the expansion of Map Ta Phut Olefins project was completed ahead of plan and production is expected to reach full capacity in May 2021. This project will expand the olefins production capacity by 350,000 tons per year.

Meanwhile, SCGP, IRPC and COM7 are expected to enter the MSCI Global Standard Index in the upcoming announcement on May 11, 2021 and will be effective from May 27. On the other hand, DTAC and KBANK-F are at risk of being out of the index.  

 

Stark Corporation (STARK) booked an additional 4,500 million baht revenue after acquiring Vietnam’s 1,500-million baht power plant project and the construction of underground railway project in South Asia worth 3,000 million baht. As a result, the company’s backlog surged to 13,000 million baht. Analysts expected STARK’s 2021 earnings to record a new high.   

 

New face stock Ditto (Thailand) or DITTO to begin trading on mai today (May 6). Analysts expected the value could beat its IPO of ฿7.50/share as P/E was 28.85x compared to its peers at 44.02x. 

CEO Takorn said the company targeted revenue growth of 20-30% per annum and will focus on digital document management systems and engineering turnkey services relating to technology for government projects.