Kaohoon’s Top News on September 2, 2020

– “Preedee Daochai” submitted a resignation letter from the Ministry of Finance to the Thai PM, saying the pressure from political issues was high, which led to his health concerns. The analyst expected short-term negativity to the market, giving a support level at 1,296-1,270 points, while noting that the government should find a replacement as soon as possible to avoid the power vacuum.

– NOK reported that total comprehensive loss for 1H20 was 3,750.61 million baht, increased 215.79% YoY compared to the same period in 2019 which reported a loss of 1,187.70 million baht. The company stated that the decline was mainly due to the coronavirus outbreak, the new accounting standard, FX loss and the dissolve of NokScoot. SET posted SP sign on NOK as the auditors do not express conclusions on financial statements ending June 30, 2020.

– WICE expected its revenue in 2020 to reach a new high at 2.7 billion baht, increasing 20% due to a high season for electronic products and the recovery of auto sectors, which would heighten demand for transportations.

– FPI expected to return to see profit in 2H20 after the sales of SAFE to book 29 million baht and the slowdown of the coronavirus outbreak.

– Tris Ratings upgraded SINGER from “Negative” to “Stable” over strong capital, an increase in revenue and operations. SINGER’s net profit in 3Q20 is expected to increase 100% and lower NPL at 6.5% from the level of 12.2%, coupled with an addition to FTSE SET Micro Cap Index. The analyst recommended “BUY” at a target price of ฿17.70/share.