Kaohoon’s Top News on July 20, 2021

Top news from “Kaohoon Turakij Newspaper” to start the trading day on July 20, 2021.

Analysts advocate for Intouch Holdings (INTUCH) shareholders to sell their shares to Gulf Energy Development (GULF) in order to revert the company to a Thai ownership. Meanwhile, the Independent Financial Advisor (IFA) has the opinion that the shareholders should consider accepting the Tender Offer and states that the Tender Offer Price of 65.00 baht per share is deemed appropriate, but recommends Advanced Info Service (ADVANC)’s shareholders should reject the Tender Offer due to the inappropriate price.

PTT Exploration and Production (PTTEP) hopes Chevron will receive proposals from the Department of Mineral Fuels to reduce the cost of decommissioning 142 petroleum production platforms in the Erawan field proportionate to their actual usage. While the remainder will be handled by the new arrival. A conclusion is expected this August.

Global Power Synergy (GPSC) kicks off operations at its ASEAN’s first SemiSolid energy storage unit factory. The plant now has an initial capacity of 30 MWh per year, with plans to expand to 1 GWh by 2022. The company aims to enhance its renewable energy power generation capacity to supply power plants, large industrial factories, as well as to further develop its production plan for electric vehicle batteries. 

Mr. Worawat Pitayasiri, President and Chief Executive Officer of GPSC, stated that the company is preparing a 30 billion baht budget for a ten-year investment to increase its capacity to 10-GWh.

Kiatnakin Phatra Bank (KKP) reported a net profit of 1,354 million baht in 2Q21, an increase of 14.36% YoY, while a net profit for the first six months was 2,817 million baht, up 5.58%, due to a gain on the sale of shares in a subsidiary. Meanwhile, LH Financial Group (LHFG)’s net profit dropped 4.6% in 2Q21.

Three major shareholders of XSpring Capital (XPG) are preparing to invest an extra 1 billion baht in the company’s latest recapitalization RO, resulting in a 60% dilution of the company’s shares. According to a source familiar with the matter, it’s worth purchasing before the XR’s 27 July launch. “Rathian” affirms that there will be no capital increase like in the case of KTC.

Srinanaporn Marketing (SNNP) will commence trading on the SET today (July 20). Analysts anticipate the share to trade between 13.50 and 15.00 baht. Mr. Viwat Kraipisitkul, SNNP’s Chief Executive Officer, is confident that the company would receive a positive response from investors, citing the company’s development potential as a result of a well-defined business expansion strategy that includes a revenue target of 8 billion baht by 2026.

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