Kaohoon’s Top News on February 2, 2021

Top news from Kaohoon Turakij Newspaper to start the trading day on February 2, 2021.

PTTEP announced an investment worth 72 billion baht to take 20% stake of BP Exploration (Epsilon) Limited (BP)’s interest in Block 61 Sultanate of Oman (Oman Block 61). The company expected a prompt increase in sales production and a long-term growth to further its investment in the Middle East.

– Analysts named 12 stocks, led by PTTEP, GPSC, SCN, ECF, META, CBG, OSP and EGCO, that could receive an impact from the political development in Myanmar, which might lead to a change in investment policy and affect their businesses and investment in the country.

EGCO expected its revenue in 2021 to grow in response to an increase of production capacity around 500-600MW. In the latest movement, the company acquired 28% stake in Linden Topco LLC, an owner of 972MW natural gas cogeneration facility in the State of New Jersey, USA. The company expected to recognize income from this acquisition on 2Q21.

– The Ministry of Finance stated that the cabinet ministry did not oppose the extension of BTS’ Green-Line concession extension for another 30 years, saying that the delay and dispute might be due to political issues, while asserting that the fare cap at 65 baht is reasonable and did not violate the Acts of parliament. The Ministry of Finance stated that the Thai PM should have the final word before proposing to the cabinet to sign an approval.

JMART revealed that the joint venture with KB Kookmin Card will decrease J Fintech’s financial cost, expecting to penetrate all type of personal loan, while believing that JMART to post a record high in revenue for five consecutive years. The analyst estimated JMART to record an extraordinary item in 1Q21 worth more than 200 million baht, recommending “BUY” with a consensus target price at ฿27.50/share.

Back to top button