Kaohoon’s Top News on November 19, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on November 19, 2020.

MTC cut its car-title loan interest rate by 18% to rival with SAWAD and GSB, who recently joined hands to advance in the same business as MTC. The cooperation of SAWAD and GSB expected more than one million borrowers with a total credit limit of 20,000 million baht, pushing their subsidiary “Fast Money” to be a listed company within three years.

IRPC signalled for a gradual growth in its 4Q20 earnings in response to a recovery in demand and oil prices. The company could have higher stock gain in the quarter, forecasting a refinery capacity to reach 194,000-195,000 barrels per day, and would reach 200,000 barrels by next year.

ACE is confident that the 1Q21 performance will new high due to the firm prepares to recognize the full-quarter revenue from the waste power plants and biomass power plants totaling more than 30 megawatts, supporting the production capacity to 240 MW after the COD of 3 biomass power plants in 4Q20 which has 1 plant faster than the original plan, as well as ready to bid for a 150 MW community power plant.

TU emphasized that its operating revenue in 2020 would grow 5% as its growth continued to expand in the fourth quarter even when entering a low season. The company expected to invest 6,000 million baht to expand its business in Thailand and overseas, while holding a cash flow of 9,000 million baht and vowing to offer a dividend not less than 50% of its earnings.

– Foreign Investors flushed with over 4,000 million baht of net buy, while S&P Global Ratings maintained Thailand’s outlook at “BBB+” and “Stable”, expecting the political issue to not have a significant impact on the country. Moreover, the rating company also forecasted Thailand’s GDP to grow 6.2% in 2021.