Kaohoon’s Top News on September 14, 2020
Top news from Kaohoon Turakij Newspaper to start the trading day on September 14, 2020.
Top news from Kaohoon Turakij Newspaper to start the trading day on September 14, 2020.
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– TMB stated that 90% of its car-loans debtors, requested for a temporary suspension of principal and interest payments under BOT’s measure, have been repaying their debts as normal. The car loans contributed 30% to TMB’s loan business.
TMB expected the 2H20 performance to be better than the first half of the year due to lower provision, a drop in NPL to 2.4%, and lower costs, while an average yield from credit loan and the revenue from cross-selling would spike. DBS Vickers Securities stated that the current P/BV of TMB is 0.44x, while giving a dividend yield of 4%, thus, recommended “BUY” at a target price at ฿1.30/share.
– TASCO could see a drop in revenue by 50% after the U.S ordered the company to wind down its crude oil procurement from Venezuela by the end of November 2020 and warned that it could face a sanction if not compromised. The analyst expected an impact to TASCO’s share price as TASCO would lose around 50% of its revenue.
– JMART asserted that the capital increase was to settle the M&amp;A deal in the future after announcing a capital increase by issuing new ordinary shares of 362 million shares, offered through RO and PP. Meanwhile, JMT would also initiate a capital increase along with offering 100 million units of warrant.

– GULF to start its subscription period for its 1,066,650,000 shares of a capital increase through RO at a ratio of 10 shares to 1 new ordinary share at the price of ฿30.00/share. Moreover, GULF and RATCH are expecting EPPO to announce a new plan to procure 1.4mm/tonnes per annum of LNG to feed to Hin Kong Power Plant.
– The analyst expected a better 3Q20 earnings for CPF over the higher price of swine price in Thai and Vietnam, estimating its sales revenue to reach 565 billion baht and a net profit of 21.5 billion baht this year. The company stated that the deal in Tesco would not require a capital increase as the company has 90 billion baht of cash on hands and an ability to request for more loans. The analyst recommended “BUY” with a target price at ฿36.00/share.