Kaohoon’s Top News on September 1, 2021

– Gulf Energy Development (GULF) expects its net profit to double in 3Q21 as a result of INTUCH’s distribution of over 1,600 million baht and revenue recognition from the first unit of the GSRC project. Additionally. numerous projects are slated to start commercial operations in the second half of 2021. GULF aims to reach a capacity of 8,000MW by the end of this year.

– Siam Makro (MAKRO) to increase the registered capital of the company by issuing up to 6.3 billion new ordinary shares to acquire Lotus retail business through CPAll group and affiliates of CPF.As CPM and CPH are required to make a mandatory tender offer for all securities in the company, both CPM and CPH will jointly make a mandatory tender offer for all securities in the company at the price of 43.50 baht per share. Meanwhile, CPALL will divest MAKRO’s shares in order to solve the company’s low free float.

– Ratchathani Leasing (THANI) returns to growth in 4Q21 as Thailand eases COVID-19 lockdowns from September 1 and loans recover to pre-COVID levels of 50 billion baht. Demand for automobiles has resumed, ensuring that sales will remain strong until next year, driving earnings higher, while the Royal Decree on debt collection has had no effect on THANI. Analysts forecast a price target of 4.90 baht.

– Kerry Express (Thailand) (KEX) signals a brighter earnings outlook in the second half of the year on seasonality and the Work from Home measure. Revenue from logistics is expected to skyrocket in 3021. KEX currently has a solid liquidity of 10 billion baht and a low P/E ratio of 0.59x.

– JMT Network Services (JMT) plans to require additional 15-20 billion baht of NPLS in 2022- 2023. Meanwhile, JMART, U and VGI closed higher yesterday (August 31) as investors speculated on a major synergy with BTS group and JFin Coin.

– Asia Plus Securities recommends 25 laggard plays with high upsides, such as SPRC, TOP, MAJOR. KTC, CRC, TTB. SAWAD, AOT, PTT, PTTEP and VGI.