Kaohoon’s Top News on March 31, 2021

– The U.S. Customs and Border Protection (CBP) banned all products from Top Glove, the world’s largest rubber glove producer with more than 54 billion baht of U.S. export in value, after finding evidence that certain manufacturers have been using forced labor. STGT’s executive stated that the move could benefit its sales from 2Q21 onwards.

– PTTEP discovered oil and gas at the first exploration well, Sirung-1, in Sarawak SK405B Project, located in offshore Malaysia. The discovery would strengthen PTTEP investment in Malaysia. Meanwhile, PTT made a 3-month extension for the discount on LPG to support low-wage workers.

– The analyst revised up AMANAH’s 2021 profit forecast to 324 million baht or 11.7% with a dividend payment forecast of ฿0.14/share after the decrease in provision. The company targeted 1.5-2 billion baht of new loans, an increase of 25-30%.

– 7UP expected to increase its tap-water sales in Phuket after the Provincial Waterworks Authority cancelled contracts with 7 private companies worth 18,000 CBM/day. The company targeted to be the main operator in Southern Thailand, while affirming its intention to purchase an additional 40% of “Gold Shores” from BKD.

– The Stock Exchange of Thailand alerted investors to be cautious on ZMICO, while informing every security company to monitor the trading of ZMICO closely after the share price continued to edge higher.