Kaohoon’s Top News on September 23, 2021

– The Siam Commercial Bank (SCB) unlocks its long-term value creation by establishing SCBX as a holding company. The company will spin off its auto-loan, credit card, and digital services operations, as well as more than ten other businesses, into their own separate entities. Besides that, SCB is reported to form a venture capital fund with Charoen Pokphand Group that will focus on financial technology businesses such as blockchain, as well as a joint venture company with MGC Group that will focus on automobile and watercraft hire purchase, leasing, and refinancing. SCBX’s goal is to reach a market valuation of over 1 trillion baht in five years, with an IPO in the next three to five years.

– Eternal Energy (EE) gains 13.45% as it prepares to collect 1,200 million baht from the sale of power projects. The company is now in the process of negotiating a collaboration with Cannabiz Way Co., Ltd., which should be finalized in 4Q21. Analysts expected that an increase in EE’s share price was a result of speculation about the restructuring of major shareholders.

– The Airports of Thailand Public Company Limited (AOT) Board of Directors approved an extension of the duration of use of State Property land to 30 years till September 2051. Compensation for usage of State Property between 2022 and 2051 is roughly 85,447 million baht.

– Mr. Phongsthorn Thavisin, CEO of PTT Exploration and Production (PTTEP), expressed confidence that the company will achieve stellar results in 2021-2022 as sales improve and oil prices remain high, while production costs have decreased to US$27-28 per barrel. By 2030, PTTEP expects to reduce the cost to US$25 per barrel.

– TRIS Ratings is set to upgrade Jay Mart’s (JMART) credit rating once the company’s fundraising campaign concludes at the end of this year. JMART is expected to earn 30 billion baht from VGI and U City’s shared profit. TRIS Ratings revised JMART’s outlook to positive, as it believes the company’s capital position and profitability will improve following the capital increase.