Kaohoon’s Top News on October 26, 2021

– Four major Thai banks; BBL, BAY, TTB and UOB, are in the competition to acquire Citibank’s Thailand operations. According to sources familiar with the matter, BBL is the front running bidder for Citibank (Thailand), with an initial offer of up to 70 billion baht. Through the acquisition of Citibank, BBL expects to expand its credit card and personal loan portfolios. Meanwhile, KBANK and SCB are anticipated to withdraw from the bids. Analysts forecast that BBL’s fourth-quarter earnings will increase by 203%, bringing the company’s full-year net profit to 27.4 billion baht, up 60%. Giving a target price at 158.50 baht.

– BGRIM expects to complete power plant projects in Thailand and abroad totaling 500MW of installed capacity. Over 20 billion baht has been set aside for this investment. This increase in capacity will bring the company’s total capacity to 3,400MW. Additionally, the company anticipates that full-year revenue growth will exceed its target by 10-15%. BGRIM has set a 40 billion baht investment budget for the coming year’s plan.

– SCI has been awarded a 600 million baht contract to construct a high-voltage electric post system, bringing the company’s backlog to 1.5 billion baht. The revenue will be recognized until mid-next year. Meanwhile, IND has signed a contract worth an estimated 2.12 billion baht for the design-build of the aviation fuel system at U-Tapao International Airport.

– JMT acquired NPLs totaling 80% of its target of 6 billion baht in the first nine months of 2021. With this figure, the company anticipates that its non-performing loans would then reach 10 billion baht by the end of the year. Analysts forecast JMT’s 3Q21 earnings to be 310 million baht, up 9%, and 400 million baht in 4Q21. Meanwhile, JMT’s profit is expected to reach an all-time high in 2022, with the company potentially joining the SET50 Index by mid-next year.

– SCGP is set to release its consolidated financial statements for the third quarter of 2011 today (October 26). Analysts forecast a net profit of 1.5 billion baht for the third quarter and 6.2 billion baht for the first nine months, largely due to the acquisition of business in Vietnam. As a result, analysts have assigned a “BUY” rating to SCGP with a target price of 72 baht.