Kaohoon’s Top News on January 29, 2021

– Four OR’s cornerstone investment namely, BIC Bank Lao Company Limited, Capital Asia Investment Pte. LTD., Denali Prestige Asset Management Limited and The Ton Pho Fund, retreated or lowered the allocation of OR’s IPO after an overwhelming subscription from retail traders. The retreat will result in further availability in OR’s IPO for subscription at the amount of 51 million shares.

– Investors speculated heavily on DOD, MALEE, DDD, RBF, ICHI, SAPPE, OSP and CBG, which are stocks that would benefit from FDA’s approval of hemp. The approval allowed cosmetic productions to contain hemp, while using hemp or marijuana in foods or beverages have yet to be approved.

– PTTEP projected petroleum sales to increase by 6% in 2021 at 375 billion barrels per day and moving forward to expand its investment. The company recorded a net profit of 22,664 million baht in 2020, decreased 54% due to lower sales, but still offered a dividend payment of ฿2.75/share.

– IVL expected to double its EBITDA and delivered a double digit ROCE by 2023 to maintain strong operating cash flows. The company also continuously de-leverage its balance sheet from 1.46 to 0.6x

– SCC expected a 5-10% growth in sales this year with confidence that the petrochemical and packaging business to grow continuously, while cement and construction products businesses were forecast to recover in 2H21. Moreover, the company budgeted 65-75 billion baht for business expansion.

– SPALI projected its revenue and net profit to make a new high in 2021 after booking 37,564 million baht of backlog, targeting to commence 31 projects worth 34,000 million baht to penetrate the market.