Kaohoon’s Top News on March 19, 2021

– MINT confirmed its strong liquidity position with 25 billion baht of available cash and 28 billion baht of unutilized credit facilities, disclosing that the company bottomed out and the revenue in 2021 will be better than last year as the food and hospitality industry has started to recover. The company further stated that it is actively in discussions to dispose of four to five selected assets in Europe worth 10-15 billion baht, expecting to reach a conclusion in 2Q21-3Q21. 


 Speculations raised TTA’s share price yesterday (March 18) to edge higher nearly 14% after analyst estimated that the company will make a turnaround to profit of 754 million baht in 2021 in line with shipping business recovery, while offshore business will break-even point this year as company’s backlog is as high as US$190 million. Additionally, analyst recommend “BUY” on TTA with a target price of ฿12.00/share.


 The Thai finance sector is expected to grow 24%, analysts suggest to keep eyes on particularly SAWAD and BAM as they could potentially cope with debt volatility, while stating that MTC is at high risk from refinance. Analysts also said that the partnership with Government Savings Bank has put SAWAD on a growth path, recommending “BUY” with a target price of ฿84.00/share, and has given a target price of ฿22.70/share to BAM.  


– ESSO announced the suspension of Paraxylene production from Aromatics plant at Esso Sriracha refinery from April 2021 due to a massive loss of nearly 8,000 million baht in 2020, however, the company will continue to produce and supply essential fuels and chemicals solvents to the community and country.

Meanwhile, IRPC and PTT have established a joint venture company to manufacture and sell Non-Woven Fabric products as well as medical consumables under new business strategy in Life Science and its commercial operation is scheduled to start in 4Q21.


 Analysts said rejecting the constitution amendment could lead to market collection. While the new free-float measure is expected to be imposed at the end of this year, analysts pointing out that AOT, DELTA and GULF will be affected when the measures implement, but it will benefit BBL, SCB, SCC, INTUCH, PTT, TISCO and MINT.


– AIT is ready to bid for a new project worth 11.5 billion baht, affirming the company’s revenue to reach 6.5 billion baht as a backlog is 6.95 billion baht. Also, AIT targets a net profit margin to stand out at 9-10% this year. 


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