Kaohoon’s Top News on November 4, 2021

– SCBx CEO Arthid Nanthawithaya stated that Bitkub will add a value to SCB‘s share by 5-10 baht based on Bitkub’s annual profit contribution of 1-2 billion baht. Meanwhile, Bitkub CEO and Founder Jirayut Srupsrisopa is expected to list the company on a stock exchange, paving the way for access to the global cryptocurrency market. SCB’s profit forecast for 2022 has been risen by analysts to 45 billion baht, a 20.5% increase, giving a target price of 150 baht.

– Kurujit Nakornthap, former Permanent Secretary of the Ministry of Energy, urged the government to reduce the excise tax on oil by 1-2 baht per liter from the current collection of 5 baht per liter. He also called on the government to raise the diesel ceiling price to no more than 34 baht per liter and to lessen the proportion of biodiesel blends to 5% to ensure the price of oil is appropriate in the present circumstances.

– SSP invested 170 million baht in the newly issued ordinary shares of NOVA in the amount of 9.64% to support the company in developing the renewable energy business, particularly in the ASEAN region. Meanwhile, NOVA expected to use the proceeds of the sale and offering of shares to increase its stake in Winchai to 50.625%.

– Analysts recommended a “BUY” rating on BBL based on projected earnings of 26 billion baht this year, a 51% increase, and the possibility of acquiring Citibank (Thailand) by December. This acquisition would increase BBL’s profit by 3% next year. Analysts have given a target price of 180 baht on BBL.

– BANPU earned 12 billion baht from the sale of its 47.5% stake in Sunseap Group to a Spanish renewable energy company, which is set to complete in the first quarter of 2022. BANPU aims to use the proceeds of the transaction to bolster its renewable energy business, with a focus on key growth targets, including a goal of 6,100 MW of total power generation capacity by 2025.