Kaohoon’s Top News on September 3, 2020

– Mr. Santi Promphat Deputy Minister of Finance said that he is willing and ready to take the position of the Minister of Finance if the Thai PM approves. Meanwhile, the source close to the matter stated that internal political issues caused Preedee Daochai to resign from the position earlier.

Dr. Pakorn Peetathawatchai, President of SET, stated that the change in the Ministry of Finance would not affect the Thai stock market, suggesting investment strategy in fast-recovery stocks; Foods, Agriculture, Tech, IT, Construction materials, Electronics and Packaging.

– GULF expected its revenue to reach 150-170 billion baht in 2027, while expecting 37 billion baht of revenue this year due to the recognition of its projects which was being able to commence the operations as planned. The company expected to close the deal with Laos government for three hydro-power plant projects with a total production capacity of 2,000-3,000MW this year.

– The Centre for COVID-19 Situation Administration (CCSA) of Thailand approved the resolution to introduce a financial aid of 3,000 baht per person, totaling 68 billion baht to stimulate consumer spending. The measures also aimed to support vendors and create over 260,000 jobs.

– SYNEX, COM7, SPVI, SIS, JMART and IT were expected to rise in response to the new iPhone 5G, scheduled to drop this October. SYNEX’s executive expected an outstanding revenue in 2H20 in anticipation of a high season and 5G business.

– NER is confident that its profit would continue to grow, supported by higher sales of 25%, mainly from an increase in purchase orders from China after four of its competitors in Thailand went bankrupt. The rubber prices are also on the rise as well.