Kaohoon’s Top News on September 10, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on September 10, 2020.

– The analyst advised to pick up mid-cap and small-cap stocks such as STGT (TP:฿116) due to the delay of the coronavirus vaccine, JMT (TP:฿35) due to its strong performance, RBF (TP:฿11) due to its continuous growth potential and COM7 (TP:฿45) over the higher sales.

CPF stated that the company was not worried about the higher price of the U.S. soybean meal as the company has plenty of stock until the beginning of next year. The analyst gave a “Speculative-Buy” on CPF with a target price at ฿36.

– The Civil Court dismissed Nop Narongdej’s Golden Music Ltd.’s petition to detain Pradej Kitti-itsaranon’s shares in Wind Energy Holding (WEH) in hopes to prevent Pradej, as a major shareholder in WEH, to exercise his rights in the shareholder’s meeting. The source close to the matter stated that other shareholders, including Pradej, expect to commence voting to replace Nop with Pradej in the position of WEH’s Board of Directors.

– The Ministry of Energy advanced in bidding for community power plant projects worth 100-200MW within this year. The new regulations are expected to be implemented by the end of September, which could allow listed companies to participate in the bidding.

BAM expected to sell a Non Performing Asset (NPA) worth 800 million baht this year and planned to recognize around 5 billion baht from tax credit, in which 2-2.5 billion baht from the aforementioned would be recognized by this year. Moreover, the company expected its provision this year to decline, resulting in a better performance in 2H20 and higher dividend payment compared to the previous year.

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