Kaohoon’s Top News on December 17, 2021

– After a two-year delay, PTT Exploration and Production (SET: PTTEP) is set to get access to the Erawan gas field next month, with plans to conclude an access agreement within this December. According to the Production Sharing Contract (PSC), PTTEP expects to set up eight platforms and hundreds of pipelines to produce 800 million cubic feet of gas per day (MMSCFD). Meanwhile, PTT (SET: PTT) has allotted THB102 billion for the investment plan over the next five years (2022-2026). 

– The Board of Directors of Sabuy Technology (SET: SABUY) approved an increase in proportional investment in TBSP with a budget of THB300 million, as well as a resolution to establish five new subsidiaries to support future business investment. Additionally, the Board approved the purchase of additional 14% of Shipsmile’s paid-up capital from existing shareholders, bringing the company’s ownership to 57%. Recently, SABUY partnered with Ninja Van to manage the company’s internal logistics across its more than 8,000 branches.

– The Stock Exchange of Thailand today is due to release the list of stocks to be included in the SET50 index, with TIDLOR, BANPU, HANA, and AWC being the front-runners to be added, while AOT, DELTA, STA, and BJC face exclusion. Meanwhile, FTSE expects to reduce its weighting in Thai stocks by US$30 million.

– U City (SET: U) has entered into a Sale and Purchase Agreement for the ordinary shares in Vienna House Group’s hotel business in order to sell all six hotel operations in Europe and the company’s liabilities under a shareholder loan, with total purchase price of approximately THB5,229 million. Furthermore, the company has disposed of all ordinary shares in KDAG Data GmbH, a dormant joint venture company in Austria.

– Advanced Info Service (SET: ADVANC) has declared its accomplishment in becoming the Cognitive Telco, or a Smart Organization, to build more technology infrastructure for Thailand Best 5G coverage. ADVANC also introduced the country’s first and only smart fibre network technology, AIS Fibre, which enables lightning-fast home Internet speeds of up to 2 Gbps.

– Gulf Energy Development (SET: GULF)’s Board of Directors’ Meeting on December 16, 2021, has resolved the establishment of two new subsidiaries: Gulf MP1 Co., Ltd., to produce and distribute electricity derived from solar rooftop in response to the demand of industrial customers of the 12 SPP power projects; and Gulf Innova Co., Ltd., to operate a digital infrastructure and digital-related services business.

– Banking stocks rallied yesterday (December 16) as traders’ sentiment was lifted by the Fed’s confirmation that it plans to hike interest rates three times in 2022, after November’s inflation peak of nearly 40 years. Tisco Financial Group (SET: TISCO) is likely to report record earnings of THB1.63 billion in 4Q21, up 4.5% from the previous quarter, boosted by service fee and used car loan revenues. Analysts have set a target price of THB104 per share for TISCO.