Kaohoon’s Top News on November 24, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on November 24, 2020.

TCAP revealed that the company has over 12 billion baht in cash on hand, preparing for an AMC as the company has bottomed out all negativity along with the adjustment of its dividend payment policy, which is expecting to be around THB 1.25-1.80 per share.

TOP invested $1.6 billion for its CFP refinery to increase its refinery capacity to 400,000 barrels per day after a 51% progression in the project. The company expected to book over 5.5 billion baht of profit in 4Q20 from selling GPSC’s shares to PTT.

DBS Vickers revealed that the banking, energy and tourism sector bottomed out and are starting to pick up along with the economic recovery. The security company suggested KBANK, PTT, PTTEP, ERW, CPF and BEM.

IIG sends a signal that the revenue in 4Q20 will grow after having an annual contract value of more than Bt269.0mn and having the backlog at Bt189.0mn, as well as in the process to bidding Bt304mn so it pushing the revenue in 2020 growth of at least 27%. While in 2021, the firm sets the revenue growth at 25% to reach Bt650-700mn due to the new business income “iiG Data” added Bt30-40mn.

SISB expects 4Q20 results to recover recognition of education income – increase in student numbers, while there are no special expenses. Also, the firm is ready to set the income back to the original base, growing 10-15%YoY, confident to accept more than 200 new students.