Kaohoon’s Top News on January 11, 2021

– The Stock Exchange of Thailand (SET) stated that it is preparing to implement a new measure to control stocks with low free float and prevent fluctuation in the market. Primarily, three to four measures have been laid out and expected to propose to the Securities and Exchange Commission (SEC). SET also expected the total market capitalization for IPOs in 2021 to be 555 billion baht, which is close to last year’s and the world’s 8th largest IPO market cap.

– SSP estimated a 15-20% growth for its 2021 revenue as the company will be commencing two power plants this year with a total capacity of 68MW. Meanwhile, the company was also planning to close the deal for a renewable power project with a production capacity of 50MW. The deal is expected to be concluded in 2Q21.

– THAI’s rehabilitation plan showed a sign of crumbling after Finansa, THAI’s financial advisor, withdrawn from the plan, resulting in a possibility of not being able to submit the plan within the time frame on February 2, 2021. The company appointed Mackenzie to help EY in making “scenario analysis” for proposing creditors, who requested for a revision of the plan before making a decision.

– GULF projected a jumping revenue in 2021 to reach 54-55 billion baht, expecting no impact from Covid-19 outbreak on its scheduled COD of GSRC project with a total capacity of 1,250MW to commence the operation in succession. Meanwhile, its 128MW wind farm in Vietnam is also expected to run the operation this year, coupled with a recognition of a wind farm project in Germany to top up its revenue in 2021.

– STA expected its 2020 revenue to make a new high in 10 years with a net profit of 7,194 million baht and a sales revenue of 72,573 million baht, representing a 20% growth in response to an increase in rubber prices and the recognition of revenue from STGT. The analyst recommended “BUY” at a target price of ฿32.00/share.