Kaohoon’s Top News on September 1, 2020

Top news from Kaohoon Turakij Newspaper to start the trading day on September 1, 2020.

– The share price of SCC jumped 3.21% yesterday in response to the report of the rights for the subscription of SCGP’s IPO at 7.095 shares of SCC to 1 new ordinary share of SCGP. The analyst expected SCGP to enter SET50 after 6 months of trading in the index, and will be the catalyst to draw international fund flows. The analyst also recommended “BUY” with a target price at ฿402.00/share.

– The source in the equity market stated that BAM had bottomed out the negativity in 2Q20 and would recover in the third quarter to book more than 1.16 billion baht of profit, excluding the recognition of DTA around 2-3 billion baht. The analyst recommended “Buy on Weakness”.

– “Ruangkrai Leekitwattana” filed a petition to the Office of the Auditor General of Thailand to investigate AOT’s measures bestowed to King Power, stating that the move could damage the government and the Ministry of Finance that holds 70% of stake in AOT.

EP invested 7 billion baht in four of Vietnam’s wind farms with a total production capacity of 160MW. The company expected a commercial of data in October 2021 and to book EIRR around 20-25%. The company also expected a capital increase of 552.94 million shares to RO, PO and PP.

GUNKUL affirmed a recovery in 2H20, buoyed by the operations of solar farms in Vietnam and Malaysia, expecting revenue in 2020 to reach 7.5 billion baht. The company also expected to bid for a power plant project in Myanmar with a production capacity of 150MW. Meanwhile, EPC works also raised its backlog to 7-8 billion baht.

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