Kaohoon’s Top News on April 30, 2021

Top news from “Kaohoon Turakij Newspaper” to start the trading day on April 30, 2021.

Finance Minister Arkhom said there is still no conclusion on whether to return Thai Airways (THAI) to its former status as a state enterprise. Meanwhile, sources reported that if the airline gets its state-owned enterprise status back, it will pave the way for financial institutions to provide THAI with a loan of 50 billion baht, guaranteeing no need for capital funding. 

However, sources also said that the Transport Minister tends to oppose the rehab plan as he and his fellow Phoom Jai Thai members aim to set up a new flag carrier to replace THAI.  

 

Siam Cement (SCC) is in the process of exploring the feasibility of Chemicals business restructuring, including the possibility of a public offering of SCG Chemicals’ shares by next year. As the 1Q21F result was far beyond the expectation, SCC plans to ramp up its revenue target from current 5-10% growth. 

 

Proen Corp (PROEN) hit the ceiling in its first trading day after gaining 200%, which reflected a strong fundamental and business has a bright prospect for growth. The CEO said the revenue in 2021 will grow beyond last year as Covid-19 outbreak has spurred demand for data center and cloud services. Furthermore, PROEN has a backlog of 334 million baht from construction business as of now. Hence, PROEN expected listing on mai will flood an additional 500-1,000 million baht backlog to the company.

 

Jay Mart (JMART) to break its quarterly earnings record as it is expected to report a net profit of 360 million baht in 1Q21F, up 243% YoY, mainly from the loyal customers and extraordinary gain from the disposal of 49% share in KBJ Capital Co. Ltd. Analysts have given a target price at ฿51.00/share.

 

TQM Corporation (TQM) acquired True Life Broker and True Extra Broker from Wacharakitiphong group with a total value of the investment of 270 million baht. The objectives of this investment are for the expansion of insurance and life insurance businesses.

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