Kaohoon’s Top News on October 20, 2021

– Foreign investors, excluding NVDR, continued to accumulate Thai stocks totaling 48 billion baht of net buy in the past two months (13 August – 15 October). KBANK was a top buy among the stocks bought by foreign investors at a total net buy of 11 billion baht, PTTGC at 7.4 billion baht, XPG at 5.5 billion baht, SCB at 5.3 billion baht and PTTEP at 4.7 billion baht. 

– HENG closed its first trading day in the Thai stock market at Bt2.86, increased 46.67% from the IPO of Bt1.95 per share. The company’s executive believed the loan portfolio to grow 7-8% this year and expected the car-title loan portfolio to account for 40-50% of its total business. Meanwhile, the company stated that the interest ceiling at 15% will not impact the company due to the normal level of HENG’s interest being around 14-16%. In addition, the company expected net profit to grow 42% in 2022, higher than its sector that is forecast to grow 10-15%.

– FPT has set aside 1,800 million baht to push ahead its new project “Silom Edge,” which will convert the old building into a mixed-use space for new generations, start-up businesses, and online platforms. FPT anticipates annual revenue of 300 million baht from this project, and is preparing to announce the plan for the fiscal year 2021/22 this November.

– Anupong Paochinda withdrew the Green Line concession agenda from yesterday’s cabinet meeting (October 19), after presenting it to the cabinet earlier last year on August 13, 2020, but the Prime Minister refused to consider it, claiming that the new finance minister would do so first. On the other hand, the CP group submitted a letter requesting a delay in the Airport Rail Link transfer fee payment due to the Covid-19.

– NER is expected to report new record earnings this year, bolstered by a strong third quarter performance driven by massive orders in India and increased selling prices. On November 8, NER is set to release its third-quarter consolidated financial statement. Analysts recommend a “BUY” rating and a target price of 9 baht ahead of an estimated net profit of 441 million baht, up 190% year over year.