Kaohoon’s Top News on November 10, 2021

– TOP’s profit surged 188% to 2,063 million baht in 3Q21, missed market expectations, due to net loss on fair value measurements of financial instruments (Hedging) and net foreign exchange loss (FX). IRPC posted a net profit of 2,155 million baht, increasing 38.50%, attributed to a 66% increase in average selling prices. Meanwhile, OR reported the first nine months earnings of 9,121 million baht, up 55.4%.

– TIDLOR, KEX, BPP, STARK, BLA, RCL, EPG, DCC, TTA, and SIRI are expected to join the SET100 index following the market’s reevaluation of the regulation, while AAV, BJC, DELTA, ICHI, JAS, NRF, PRM, PSL, RS, and TKN face exclusion. Meanwhile, the SET50 index is expected to include TIDLOR, BANPU, and KEX. Trinity Securities forecasted that GULF would be delisted from the SET100 index if the Stock Exchange of Thailand (SET) implemented a 2.5% turnover ratio.

– The Cabinet approved the selection and drafting of a contract for the Laem Chabang Port Project Phase 3, despite the project being submitted solely by the GPC joint venture group (GULF, PTT, and China Harbor). However, it is better than opening a new auction since the project will be delayed for two years, affecting the support for container growth.

– PIN seeks to distribute thousands of millions of baht from the public offering of shares to continue investing in new projects and repaying debt, lowering the IBD/E ratio to 0.8-0.9x. PIN anticipates revenue growth of 60-70% in 2022, and analysts have set a target price on PIN of 4.90-5.15 baht.

– SABUY anticipates revenue growth of more than 50% in 2022, with a particular emphasis on payment, solutions, financial services, and sales platform. The company plans to install 10,000 ATMs in front of 7-Eleven and has budgeted 1.5-2 billion baht for next year’s investment.