Kaohoon’s Top News on December 27, 2021

– Siam Makro (SET: MAKRO)’s share price fell 5% last week as a result of a sell-off by Thai institutions, closing at THB42.50, below the PO price of THB43.50. Analysts anticipated an improvement in MAKRO’s liquidity as an outcome of the company’s potential inclusion in the SET50 index, forecasting a net profit of THB12.8 billion in 2022 and recommending “HOLD” with a target price of THB49.

– Central Retail Corporation (SET: CRC) stated that it will carefully consider investing in the Selfridges Group following Central Group’s official announcement that it will partner with Austrian real estate company Signa Group to acquire luxury European department store chain Selfridges for £4 billion (approx. THB18 billion). Analysts believe CRC may need to raise capital if it decides to invest in Selfridges Group, recommending a “HOLD” rating with a target price of THB36.   

– Nova Organic (SET: NV) ended the first trading day down 13%. According to the report, one major investor who earlier purchased NV shares at a discount to the IPO price dumped shares on the first day of trade, causing NV’s share price to plummet. Mr. Navaphol Chanjuthamard, Chief Executive Officer of NV, urged investors to place their trust in the company, assuring that revenue and profit will double next year due to the business being in mega-trends that can grow even further in the future.

– Gunkul Engineering (SET: GUNKUL) and Jay Mart (SET: JMART) have agreed to take an approach to swap up to 1,000 million shares of their common stock in support of a long-term partnership. The joint venture company formed by GUNKUL, JMART, and Singer Thailand (SET: SINGER) with the purpose of investing in solar rooftop, hemp businesses, and electric vehicle charging station systems is planned to be completed by January 2022.

– World Flex (SET: WFX) announced a dividend payment of THB0.22 per share for the first nine months of 2021, with an ex-dividend date of January 6, 2022. Dividends will be paid on January 19, 2021. WFX recorded a net profit of THB188.84 million, a 218.04% gain. Analysts have set a target price of THB11.34-12.40 for WFX, based on a projected annual profit growth of 79% between 2021 and 2023.