Kaohoon’s Top News on November 22, 2021

– TRUE‘s Board of Directors approved a merger with DTAC via an amalgamation method at its November 20, 2021 meeting, according to a source close to the matter, following international media reports that Telenor Group and CP Group were in talks to explore a potential merger of their telecom operations in Thailand. The press conference is scheduled to take place today (November 22). Analysts expect a stock swap for TRUE and DTAC merging.

*Update, as of 8:00 a.m. local time in Thailand, TRUE and DTAC announced that both parties have resolved to explore the feasibility of, and carry out required steps to implement, the potential amalgamation between the two companies to enter into a non-binding memorandum of understanding to set forth the intentions of the parties to consider and further study combining the businesses of TRUE and DTAC by way of an amalgamation.

– TIDLOR is reportedly added to the FTSE All Cap Index, while AMR, ASW, DMT, GROREIT, INETREIT, NSL, and SNNP are included to the FTSE Micro Cap Index, effective December 17, 2021.

– UAC forecasts revenue to grow 10% next year as renewable and petrochemical businesses are on the rise, the company earns additional revenue from the EV station changing business. UAC is planning to bid on waste-to-energy and community power plant projects in the second phase. Meanwhile, HUMAN expects its revenue to grow at a compound annual growth rate of 20% over the next three years.

– BGRIM, GULF, and GPSC all rejoice since the Fuel Tariff (Ft rate) will be THB 3.78 per unit from January to April of next year, according to the Energy Regulatory Commission (ERC). Analysts anticipate a higher margin for power sales till next year, as demand recovers following the country’s reopening and on the hope of Thailand and Vietnam announcing PDPs.

– Thai Union Group (TU) is convinced that its operations will bounce back in 4Q21 as the COVID-19 pandemic situation improves and consumption recovers. The company aims to expand its product line in order to generate more revenue and profit.