Kaohoon’s Top News on December 8, 2020

– The Port Authority of Thailand is expected to submit GULF and PTT’s bidding results to the Board of Directors of EEC to consider the proposal for Laem Chabang Phase 3 Port F, while the bidding value was proposed at 28 billion baht, lower than the medium value set by the state at 32 billion baht.

– SAK will kick off its first trading day today from the IPO price at ฿3.70/share and a P/E of 15.40x. The company reported a net profit in 3Q20 at 156.1 million baht, increased 74.21%, while its 9M20 profit reached 408.7 million baht, increased 54.81%. The analyst expected SAK’s profit in 2020 to reach 548 million baht, giving a fair value at ฿4.25/share.

– JP Morgan upgraded its outlook on Thailand from “Neutral” to “Overweight” with a target index level at 1,700 points in 2021 as Thailand would be the main target of foreign fund flow in ASEAN, recommending KBANK, BBL, SCB, CPN, CRC, HMPRO, BDMS, AWC and ERW. Meanwhile, Credit Suisse expected SET Index to reach 1,660 points next year, recommending banking, petrochemical and hospitality sectors.

– Mr. Jormsup Lochaya, Chairman of the Board of SUPER, expected to commercialize another 550MW of its solar farm in Vietnam to boost its total capacity to 1,200-1,300MW, pushing its revenue in 2020 to record 15-20% growth. Meanwhile, “Tris Rating” upgraded its corporate rating from “BBB-” to “BBB” with a revision of outlook to “Stable”.

– PDI announced that its Board of Directors has approved the acquisition of 51% stake in two new world-class hotels: Four Seasons Hotel Bangkok, and Capella Hotel Bangkok. The acquisition extends the company’s push into Hospitality following on from its acquisition of a hotel development site in Sathorn earlier this year, which it intends to complete by 2023.