Kaohoon’s Top News on March 23, 2021

– JMART revealed a 5-year plan, expecting an earnings growth CAGR of 50% in 2021-2025 and setting to make another all-time high this year. KGI Securities saw JMART’s growth to be secured by solid contributions from JMT and SINGER, revising up a target price to ฿51.00/share

KGI estimated JMART to book revenue of 100 million baht in 1Q21 from disposing of equity in J-Fintech, while selling the 16% stake in J-Venture will JMART’s cash on hand by 200 million baht, and mark-to-market unrealized investment by 800 million baht through equity. As a result, D/E will be 1.8x from D/E ceiling at 3x and allow JMART to raise its dividend payout ratio. 


– RATCH announced the 214.2MW Yandin Wind Farm in Australia on March 19, 2021, has entered commercial operation. RATCH has set aside about 15 billion baht for an investment this year, expecting to add 700MW to the company’s total capacity. Analysts recommended “BUY” with a target price of ฿70.50/share.  


– TQM to propose the Board of Directors in consideration of acquiring TQR’s stocks of Punnipa family at the amount of 44.35% in May. TQM further stated that there are more than 50% extended the Covid-19 insurance coverage, affirming 1Q21 to meet the target. Analysts foresaw TQM’s earnings of 220 million baht 1Q21, an increase of 23% YoY.


– SUPER’s subsidiary companies Super Solar Energy Co. Ltd., on March 22 has entered into a power purchase agreement (PPA) with EGAT for the 16MW-SPP Hybrid Firm.


– PACO closed its first trading day in mai at ฿3.98/share, increased 184% above its IPO at ฿ 1.40/share with a trading value of 3,102 million baht. Meanwhile, Mr. Somchai, the CEO of PACO disclosed that the company’s earnings will exceed 1,000 million baht within 2 years and set a sales growth target of 20% this year with key catalysts from electric vehicles (EV) and international expansion strategy. 

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