Kaohoon’s Top News on May 21, 2021
Top news from “Kaohoon Turakij Newspaper” to start the trading day on May 21, 2021.
IRPC said petrochemical product sales in 2Q21 are expected to remain high from last quarter in response to global demand recovery. Keep an eye out for new supplies coming into the market in the second half of this year. By the year 2024, IRPC aims to double the proportion of specialty products. Analysts have given a new target price of ฿4.70 per share. Meanwhile, Bangchak (BCP) is confident that it will report another petroleum stock gain in 2Q21.
Singer Thailand (SINGER) is a shoo-in for SET100 inclusion in the upcoming recalculation, with the company expressing confidence that profit in 2Q21 will set another record, as the hype for electronics has arrived, and auto-title loans have risen significantly. As a result, the loan portfolio is expected to surpass 10 billion baht. Analysts forecasted a huge inflow of funds to SINGER following its inclusion in MSCI Small Cap, setting a target price of ฿50 per share.
PTT has entered into a joint venture agreement with NR Instant Produce (NRF) to establish a company with the registered capital not in excess of 300 million baht in order to operate alternative proteins business. The manufacturing plant using state-of-the-art imported technology will be based in Thailand with a production capacity of 3,000 tons per year and will serve as a production base and a distribution hub for ASEAN market. This company is expected to start its commercial operation within the forth quarter of 2022.
Addtech Hub (ADD) jumped 35% from the IPO on its first trading day to close at ฿14.80 per share. According to Mr. Chawan, the company’s CEO, revenue will continue to rise in line with the operator content growth trend in 2021.
Government Saving Bank and Srisawad (SAWAD) teamed up to launch a motorcycle-title loan campaign, lowering the monthly interest rate from 0.69% to 0.49% and allowing for loan approval within 15 minutes. Due to a strong demand for loans, analysts expect stocks in the non-banking sector to continue to rise in 2021; top picks are MTC and SAWAD.