Kaohoon’s Top News on October 5, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on October 5, 2020.

BAM is expected to report a net profit of 5.7 billion baht in 2020, the same level as last year. However, the high level of net profit last year was due to an asset disposal. The source close to the matter expected a recovery in BAM’s business from next year onwards. Meanwhile, the company is expected to recognize a deferred tax asset at a value of approximately 5,000 million baht, divided into two recognitions in 3Q20 and 4Q20.

PTTEP entered the Erawan area, expecting to install platforms after the Department of Mineral Fuels successfully negotiated the deal with Chevron and the gas production would continue during the changing in 2023-2024.

– Investors were concerned over the possibility of a default in the Laos’ government bonds, due to mature today, as rating companies downgraded Laos’ bonds amid the coronavirus outbreak. Many Thai funds were reportedly invested in Laos’ bonds as well. However, the Thai Bond Market Association believed that Laos’ bonds have enough liquidity and have less possibility in default.

BANPU completed the Barnett’s deal three months prior to its schedule as the company moved to the U.S. top 20 gas producers with a production capacity of 800 million cbf per day.

WHAUP is expected to close three deals of solar farms in Vietnam with a total production capacity of 50-250MW by year end, expecting a 10% growth in revenue. The company also budgeted 1,600 million baht for domestic and international business expansions.