Kaohoon’s Top News on October 7, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on October 7, 2020.

TU joined hands with “ThaiBev” to establish a joint venture company, Food and Beverage United Company Limited, to collaborate in relation to product development, production and distribution of nutritious food and beverage products.

Meanwhile, Thapana Sirivadhanabhakdi, ThaiBev’s CEO, and Thiraphong Chansiri, TU’s CEO, took the position of the Board of Directors, which could give the company a good position in penetrating global markets.

The analyst expected TU’s net profit in 3Q20 at 1,749-1,801 million baht, an increase of 27-31%, with a target price at ฿18.40/share.

RATCH expected to sign the 1,320MW Power Purchase Agreement (PPA) of Guangji Power Plant in Vietnam by the beginning of 2021. Meanwhile, the company also planned to acquire more power plant projects in the country with one project to be inked by year end.

SCM expected an outstanding result in 3Q20, buoyed by higher sales revenue as demand from consumers started to recover. Meanwhile, the business will be boosted in the 4Q20 due to being a high season.

– Mr. Adisak Sukumvitaya, CEO of JMART and Chairman of JMT, stated that the “Sukumvitaya Group,” the major shareholders of JMART, exercised the JMART-W3 at ฿11.00/share. JMART would book 160 million baht to exercise JMART-W2 to support JMT’s business in debt purchasing.

STGT expected to continue making a new high in 2H as the current productions were fully booked to early 2022. Citi Securities gave a “BUY” recommendation with a target price at ฿145.00/share.