Kaohoon’s Top News on October 2, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on October 2, 2020.

  • Trinity Securities estimated SCC’s net profit in 3Q20 at 11 billion baht, an increase of 79% from the same period of last year, buoyed by the recovery of petrochemical business and an increase in HDPE and PP selling prices. The analyst recommended “BUY” at a target price of ฿400.00/share.
  • The Investment Analysts Association (IAA) expected SET Index to reach 1,300 points by year end, declined from the previous forecast at 1,383 points. Meanwhile, net profit for listed companies in the market would decline and the EPS growth would contract by 37%. The momentum in 4Q20 still has impact from political issues, thus, the IAA recommended a portfolio adjustment with a 20% cash on hand.
  • MICRO closed its first trading day with a surge over 100% as the analyst estimated an upside to its loan business from 2 billion baht to 4 billion baht after the capital increase and the branch expansion as more users turned to a hire purchase financing for second-hand trucks.
  • Mass Rapid Transit Authority of Thailand expected to give a clear clarification over the allegation with BTS on the adjustment of the bidding conditions of the MRT Orange Line by asserting that the proceedings were in line with laws and regulations.
  • ADVANC celebrated its 30-year anniversary by announcing a commencement operation of 5G services with AIS 5G Max Speed package, expecting AIS 5G users to reach 100,000 by year end. Meanwhile, AIS 5G network covered 16% of area in Thailand.