Stocks in Focus on November 29, 2019: TMB and CHG

Stocks in Focus on November 29, 2019: TMB (Asia Wealth Securities TP at ฿2.10/share) and CHG (Maybank Kim Eng TP at ฿3.10/share).

Kaohoon Online has selected stocks with a potential of high growth for investors to consider on November 29, 2019.


Asia Wealth Securities (AWS) has given a “BUY” recommendation on TMB Bank Public Company Limited (TMB) with a target price at ฿2.10/share.

AWS, citing information from Kaohoon, has reiterated Thanachart Bank’s share trading process (TBANK) to be completed within 3 December 2019 and the bank is preparing to set up a new bank’s board, which will come from both Thanachart Bank and TMB sides. The merger is expected to be completed within 18 months.

Regarding the exercise of the rights to purchase new shares of TMB (TSR), the bank has received the proceeds from the exercise of approximately Bt38bn. Even though that amount was lower-than-expected (about Bt42.5bn, however, it is still in line the bank estimate. The bank confirms that there is sufficient funds for this merger. Meanwhile, TMB announced to pay an interim dividend of Bt0.03 per share with showing an XD sign today (29 Nov).

AWS sees that there might be no problem about the merger and it is ongoing in the framework set by the bank.


Maybank Kim Eng has given a recommendation on Chularat Hospital Public Company Limited (CHG) with a target price at ฿3.10/share.

Maybank expects 4Q19 earnings to strongly expand, thanks to its growing core earnings and 2 new hospitals (CHG304 and Ruam Pat Chachoengsao) are approaching break even point to reflect the real performance results. The SSO new rate to announce early next year should be a catalyst to boost upside to earnings in the next period.


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