Kaohoon’s Top News on July 23, 2021

Top news from “Kaohoon Turakij Newspaper” to start the trading day on July 23, 2021.

In 2Q21, Siam Cement (SCC) set a new record for earnings in 17 quarters. Analysts forecast a 16 billion baht net profit from packaging expansion and increased petrochemical sales. They also see a challenge for SCC in the second half of this year, since chemical product spread will face significant pressures from additional supply and increased oil prices. Analysts maintain a “BUY” recommendation with a price target of 500 baht.

Siam Technic Concrete (STECH), a manufacturer and distributor of prestressed concrete products, will begin trading on the SET today (July 23). Analysts anticipate the price to rise above its initial public offering price (IPO) of 2.78 baht, owing to a strong base and rapid expansion in domestic investment. Ten experts have forecasted a price range of 3.22 to 3.93 baht per share.

The Bank of Thailand (BOT) predicts that the resurgence of Covid-19, which prompted stringent measures to contain the outbreak, has had a 0.8-2.0% impact on Thailand’s economy, highlighting vaccine rollout as a key factor in economic recovery. Meanwhile, the Siam Commercial Bank estimates that domestic consumption will drop by 770 billion baht as a result of the ongoing pandemic.

– IRPC anticipates a strong second-quarter earnings report. Analysts forecast a net profit of 4,380 million baht, up from a loss of 411 million baht a year earlier, due to increased refinery capacity to 194,000 barrels per day and a rise in crude oil-petrochemical prices. As a result, IRPC’s net income would expand by 206% to 9,961 million baht in the first half of this year. Analysts have given a “Speculative-Buy” rating with a target price of 3.70 baht.

Samui Airport Property Fund (Leasehold) (SPF) will display an XD sign indicating a dividend payment of 9.1124 baht per unit and an XN sign signaling an Ex-Capital Return date of 9.4176 baht per unit on July 29, shortly before to the fund’s dissolution on July 31, 2021.

Back to top button