– Mr. Piya Pong-Acha, Director of JMT Network Services (JMT), affirms that the company’s net profit for the second quarter of this year would set a new quarterly record. JMT purchased distress debt of 3 billion baht during the first six months, bringing the debt management portfolio to 220 billion baht. JMT anticipates an increase in non-performing debt over the next 1-2 years as a result of the Covid-19 crisis, revealing that KBJ will assist customers by providing credit to JMT to refinance them and then transferring them to KBJ to pay installments. Additionally, JMT reiterates that the company will achieve an All Time High profit in 2021-2024.
– Kasikornbank (KBANK) approved the distribution of life insurance products of Muang Thai Life Assurance (MTL) in accordance with the Bancassurance Agreement, through KBANK and its five subsidiaries. Following the deal, KBANK will earn returns of 12,700 million baht and Performance Bonuses based on operating outcomes for a ten-year period beginning in 2022, subject to the terms of the Bancassurance Agreement. According to analysts, this transaction will boost KBANK’s net profit to up to 40 billion baht next year.
– Mrs. Somruedee Chaimongkol, BANPU‘s Chief Executive Officer, is convinced in the company’s strategy to raise 317 billion baht in capital, citing investors confident in the company’s potential for growth. The company proposes to acquire funds to expand its investment in renewable energy businesses in order to reach the 1,600 MW target by 2025. Meanwhile, stated that the coal business remains on track and able to produce revenue on a consistent basis.
– R&B Food Supply (RBF) was granted the first license in Thailand and Southeast Asia for an extraction plant for CBD – THC from hemp (that is not cultivation) Narcotics Substance Category 5, Hemp Only, on July 2, 2021. The company indicated that the extracted products will be utilized in foods, beverages, cosmetics, herbs, supplementary foods, and other goods that comply with the Food and Drug Administration’s rules for distribution both domestically
– Analysts forecast a net profit of 9.6 billion baht for PTT Exploration and Production (PTTEP) in 2Q21, rising 121% year over year, due to positive sentiment generated by record sales volume of 434,000 barrels per day and growing selling price. PTTEP will fully recognize revenue from the Oman gas Block 61 and Sabah H project in 2Q as well. As a result, analysts have issued a “BUY” recommendation on PTTEP with a price target of 146 baht.
– Thailand has administered the first doses of Covid vaccines to 7.77 million people, still too far from the goal of 50 million people vaccinated by mid-October. Meanwhile, additional 1 million doses of Chinese state-owned Sinopharm vaccine have arrived on Sunday, July 4, in Thailand.