Kaohoon’s Top News on October 22, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on October 22, 2020.

  • The analyst expected SGCP to debut its first trading day above its IPO price. The coming of SCGP in SET50 by Fast-Track criteria will push TCAP from the 50th place to SET100. The company expected to expand its business in Asian using the “Packaging Solutions” model. The analyst gave a “BUY” recommendation with a target price at ฿41.00/share.
  • The banking sector, excluding TCAP, reported a total net profit for the third quarter of 2020 at 29,691 million baht, decreased 44.8% compared to a net profit of 53,833 million baht in 3Q19. Meanwhile, the banking sector recorded a total net profit in the first 9 months of 2020 at 106,838 million baht, decreased 33%.
  • WICE jumped 5.17% yesterday in anticipation of a new high in 3Q20 profit. Meanwhile, WICE’s executive expected 2020F profit would hit a new high in 27 years with a 20% growth  to 2,700 million baht. The analyst recommended “BUY” with a target price at ฿5.60/share.
  • The analyst expected the Thai stock market to response positively on the compromising solutions from the Thai government regarding the protest, recommended retail stocks such as CRC, CPALL, BJC, SPVI, COM7, JMART, HMPRO and ILM to receive positive sentiment from the stimulus measures.
  • The Mass Rapid Transit Authority of Thailand (MRTA) expected to appeal the Administrative Court’s order within 30 days after the court bestowed a temporary protective order for BTSC and to go along with the original bidding condition for the MRT Orange Line Project “Bang Khun Non – Min Buri (Suwinthawong)”.