Kaohoon’s Top News on October 12, 2021

– Kerry Express (Thailand) (KEX) announced a partnership with Betagro to form a joint venture company called “Kerry Betagro Company Limited” with KEX investing 60% and Betagro investing 40%. The main business objective is to establish a forefront cold delivery platform in Thailand that is driven by world-class technology, process engineering, and ultimate user experience for the best possible customer experience. The services are expected to begin in 2Q22. Analysts believe that this transaction will strengthen KEX’s long-term sustainable growth.

– Siam Makro (MAKRO) expects that the Extraordinary General Meeting of Shareholders today (October 12) will approve the acquisition of Lotus’s operations in Thailand and Malaysia, with the intention of conducting a public offering (PO) of 1,362 million shares in November-December 2021 to increase the free float to 15%. Lotus is confident of being included in the SET50 Index.

– Sukit Udonsirikul of SCB Securities stated that the Thai stock market is still strong in Q4 and has a positive return of 4% on the back of the economic recovery following the lifting of the lockdown. He recommends five outstanding stocks: BEM, KCE, OSP, SECURE, and ZEN, which will benefit from the country’s reopening.

– Exotic Food (XO) is currently experiencing a packaging shortage, including bottle, lid, label, and box, which is resulting in a delay in exports. As a result, earnings in 3Q21 would fall short of the target. Meanwhile, non-export orders that were postponed last year will be delivered in 4Q21.

– Tisco Financial Group (TISCO) is expected to publish its fourth-quarter fiscal year 2011 operating results on October 14. Analysts anticipate a net profit of 1.59 billion baht, a 1% decline, but the capital fund remains robust. The coverage ratio is as high as 214%, the return on equity (ROE) is 16%, and the dividend yield is 6.8% this year.