Kaohoon’s Top News on December 2, 2020

– The Thai stock market rebounded yesterday in response to early-than-expected Covid-19 vaccine development. The return of fund inflow from foreign investors buoyed the market in yesterday’s session, but still in a limited upside with a support level at 1,410 points and a resistance level at 1,430 points. The analyst did not put much weight on the Thai PM allegation, but advised investors to monitor OPEC+ meeting on increasing output.

– UAC expected a growing revenue next year as trading and biodiesel businesses are on the rise. As for this year, the company expected to maintain its EBITDA at 15% even when facing a decline in revenue by 1.2-1.3 billion baht. Meanwhile, UAC will participate in a bidding for at least five community power plants.

SICT reported a backlog worth 190 million baht, resulting in a revenue to meet projection in 2020. The company expected its revenue to double within four years.

– PTT was awarded “Most Popular Stock” and “Popular Stock in Resource Sector” awards as the CEO expected an outstanding growth next year along with economic recovery.

– SIRI disposed two joint venture companies with U for 1,188.19 million baht, while investing in other joint venture companies at a value of 1,547.19 million baht. Mr. Uthai Uthaisangsuk, Director of SIRI, revealed that the transaction was to increase its ability for further project development, emphasizing that the relationship with U is still intact.

– EPG revealed that the revenue this year would be better than expected as its sales was expected to plunge only 10-11% from an earlier forecast at 12% as the company received more orders from Aeroklas, Aeroflex and EPP. Meanwhile, the company has strong financial status with cash flow more than 1 billion baht.