Kaohoon’s Top News 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.