Stocks in the news (awc, bbl, bch, bki, cpn, dohome, epg, ori, ptt, sta, utp, nok, max) 30.06.21
AWC reports advance booking topped 50% capacity of hotels in Phuket, expects positive OCC carry thru 4Q, eyes M&A to expand portfolio.
Comment: Why them? They have scale, the 1 hotel operator/owner is dead (unless they are your favourite boutique). Capital will flow to the big boys.
BBL, Sunway, Linklogis will jointly apply for a Malaysian digital bank license, with Sunway to hold majority stake, Reuters cited unnamed source.
Comment: So much for smaller players having a chance to compete. Great for BBL if they can win.
BCH sees strong 2Q on covid related services, plans opening of Kasemraj Laos in 3Q21, sets Bt1,700 per shot for Moderna vaccine.
Comment: A transfer of wealth from the individuals to the hospitals, listed co’s are winning. Though I can imagine that 2022 will be a tough YoY performance profit for the hospitals.
BKI launches hemp insurances, offering protection for hemp farm damage, expects premium Bt4-25/ tree, policy sales kick-off 3Q.
Comment: Free $ for the insurance co’s…
CPN sets Bt400m budget to expand rentable area, add campaigns to boost traffic, expects 3Q recovery from Central Festival Phuket on reopen & shopping e-voucher rebate stimulus, Central Sriracha mall to cod on September & Central Ayudhaya on October.
DOHOME said 2Q sales jumped 40% to >Bt6.1b, boosted by 200-300% growth in online sales, on track to open 2 more branches in 2H with plan to up agricultural related products to boost sales.
Comment: I have been surprised by their performance. It’s been far better than I expected.
EPG reaffirms 15% revenue growth target >Bt11b from strong packaging & auto parts sales, higher THB revenue from weakening currency, in talk M&A to boost inorganic growth.
Comment: But half their business is whacked by the high oil prices.
ORI reports Bt15.7b residential sales for 1H21, +37% yoy, account for 54% of full year target, maintaining launch plan 5 projects in 2H.
Comment: How this company avoided a recap boggles the mind. Banks must love him.
PTT to wrap up deal with Foxconn Group in 90 days on plan to setup OEM plant in Thailand to produce 100K EV per year in 1st phase.
PTT to revise employees allowance to accommodate permanent WFH, will cover mobile airtime, BB and electricity.
Comment: 25% of all cars manufactured in TH will be EV’s by 2030.
STA upbeats outlook from strong rubber demand supported by improving auto market, mulls revise up FY21 sales volume target > 1.2m tons after 2Q earnings, more progress on hemp projects in 2H.
UTP sees packaging demand accelerate in 2Q, will expand capacity to capture demand from factories in EEC area.