Kaohoon’s Top News on February 1, 2021

– JMART completed the joint venture agreement between “J Fintech” and “KB Kookmin card,” a financial institution of Korea’s conglomerate group. In the joint venture, KB Kookmin Card will hold 49.99% of J Fintech, while JMART holds 45.09% and JMT holds 4.92% in an investment value of 650 million baht. JMART expected to book 2,800 million baht in return from J Fintech’s loans and will record into 1Q21 financial statements. The company targeted to step up to a top 5 in credit-loan business. Meanwhile, the analyst forecast JMART to record a profit of 238 million baht in 4Q20, an increase of 55%, and upgraded JMART’s target price at ฿27.50/share.

– SISB’s CEO stated that the school will implement all required measures to ensure safety and hygiene after the government approved the resolution to reopen schools. Moreover, the CEO added that each class did not have more than 25 students to begin with, which is in line with the government’s measures. SISB maintained its 10-15% target growth this year following an increase in new students. Meanwhile, the analyst recommended “BUY” at a target price of ฿12.00/share, expecting the company to record 225 million baht of profit in 2021, representing an increase of 49%.

– PTTEP expected positive momentum in 1Q21 outlook as the company targeted to pump its sales in 2021 to 375,000 BOED, while planning to lower the production cost to $29 per barrel. The analyst recommended “BUY” at ฿119.00/share.

– The Ministry of Finance will vote in PDI’s Extraordinary General Meeting of Shareholders today to resolve the resolution to acquire stakes in Capella Bangkok and Four Seasons Hotel Bangkok at Chao Phraya River with a total investment value of 2,805 million baht.

– The Board of Directors of EXIM Bank did not propose a soft loan resolution for airline businesses, while expecting to add the Ministry of Finance (MoF) to co-support in the resolution such as a bank guarantee, P/N and soft loan. EXIM Bank stated that the MoF needs to administer the cost that occurred from the loan.

– BGRIM stated that the company will move forward to acquire new projects, while expecting to increase its target production capacity in 2021 to 1,000MW. The analyst estimated BGRIM to report a net profit of 3,230 million baht in 2021, an increase of 17% from a forecast profit of 2,751 million baht in 2020. The analyst recommended “BUY” at a fair value of ฿64.00/share.