Kaohoon’s Top News on December 8, 2021

– Bank of Ayudhya (SET: BAY) has been selected as the winner of the bidding process for Citi Group’s retail assets in Thailand, valued at up to THB67.5 billion. According to analysts and strategists, Citibank’s retail asset portfolio has a high ROE when compared to a 1.9x PBV. 

– Thai authorities said that no new lockdowns would be implemented despite the detection of the first omicron variant case in Thailand, as they remain confident in the public health system’s capacity to deal with the new wave of pandemic. Federation of Thai Capital Market Organizations (FETCO) projects the SET Index to reach 1,800 level in 2022, with an estimated fund inflow of THB100 billion. Recommend reopening plays and stocks in banking and healthcare sectors. 

– RS (SET: RS) introduced a new hemp product, the “multi-oil + hemp seed oil,” under the trademark well u. Additionally, the company plans to produce additional CBD-infused vitamins, functional beverages, and pet foods. RS expects to earn THB500 million next year from this new business segment.

– Simat Technologies (SET: SIMAT) revised its earnings forecast for 4Q21, citing the revival of its subsidiary Hinsitsu (Thailand). Additionally, the company plans to spin off Hinsitsu in the mai market in 2Q22 in order to improve the company’s profitability.