Kaohoon’s Top News on April 20, 2021

– GULF expected to make a tender offer for all 2,599.63 million shares of INTUCH, representing 81.07% of ordinary shares at a tender offer price of Bt65.00 per share. The whole acquisition is expected to worth 169 billion baht. Due to the Chain Principle policy, GULF would also make a tender offer for ADVANC at a price of ฿122.86 per share, but would request SEC to opt out a tender offer for THCOM. The company stated that a capital increase is not required due to having enough funds from financial institutions.

– The share price of BFIT hit the ceiling yesterday after the speculation of joining the Government Saving Bank to initiate home loan business with a low interest rate at 15%, compared to other operators at 20-30%. BFIT’s P/E was lower than its peers at 11-12x, resulting in wider upside, while offering a dividend yield of 4.2% from a dividend payment of Bt1.40.

– TISCO’s 1Q21 earnings at 1,764 million baht, increased 18.7%, was better than the forecast due to high coverage ratio and BIS at 222% and 23%, respectively, while NPLs dropped to 2.5%. The analyst expected TISCO’s 2Q21 earnings to continue edging higher, giving a target price at Bt115 per share.

– JKN announced its strategic plan to step into being a Content-Commerce Company after taking over NEW18 channel and expecting to change the name to JKN18. The company estimated its revenue to reach 5,000 million baht within three years.

– Analysts revised up JMART’s profit estimation in 2021 to 1,217 million baht, an increase of 52%, in response to anticipation of all business sectors to grow significantly. Meanwhile, SINGER’s earnings were expected to reach a new high in 1Q21 at 140 million baht and could be listed in SET100. As for JMT, its earnings in 1Q21 were expected to grow 41% and could be listed in SET50.

– The analyst expected LH to report an outstanding 1Q21 earnings at 1,750 million baht, representing an increase of 30%. Sales revenue was forecast at 7,500 million baht, buoyed by buying power from the up-mid class market. Also, LH has a high dividend yield, offering Bt0.30 per share with an ex-dividend date on May 6, 2021. The analyst gave a target price for LH at Bt9.20 per share.