Stocks in the news (banks, bgrim, ind, kbank, nrf, rt, solar, sta, toa, trc) 26.10.21
BBL, BAY, TTB & UOB lodged bid for Citi retail assets in TH; KBANK & SCB drop out, estimated price goes as high as Bt70b, tabloid.
BGRIM: in talk M&A domestic & overseas power plants total 500mw, expected to wrap up within 4Q, lifts total capacity above 3,400mw, firms on 15% revenue growth target.
Comment: The “legitimate version” of GULF.
IND: wins EPC contract for jet fuel distribution projects at U-Ta-Pao airport from Global Aero Associates total Bt2.11b.
KBANK: digital unit, Kasikorn Business-Technology Group (KBTG) signed MOU Huawei to joint collaboration on digital banking transformation.
Comment: Looks like IBM’s lock on KBANK’s IT system is going away. What will be more interesting regarding IT for the banks is their cyber security. KBANK has been hacked for decades by the amount has been considered to be minimal by management and they hadn’t bothered to upgrade their security systems, which has led to the recent news in Thailand where accounts (not just kbank, scb is included amongst others) where consumer accounts have been hacked. Now I think that the weak link that led to this was via the prompt pay system as members of our team saw this only occur in a/c’s that are linked to promptpay.
NRF: acquired remained 51% of integrated hemp business, Golden Triangle Health (GTH), for Bt60m, transaction to be completed within 4Q.
Comment: Thought that this news was done a while ago. Other rumours in the market is that at a well known North American player is looking to buy a stake in GTH
RT: wins tunnel projects from Metropolitan Waterworks Authority total Bt836.8m.
SOLAR: trades XR tomorrow 1:1 @ Bt1, XW 2:1 for RO subscribers.
STA: granted license for hemp cultivation from FDA, expecting to harvest from experimental plot 1H22.
TOA: forms venture with Hardware Expert co., to launch building material procurement & EXIM business.
TRC: wins 2 fuel depot projects from Pan Asia Storage & terminal total Bt302.72m.
Comment: Always wonder when TRC will begin to show decent numbers or win projects again.
2 thoughts on “Stocks in the news (banks, bgrim, ind, kbank, nrf, rt, solar, sta, toa, trc) 26.10.21”
What are you thoughts on SUPER
BGRIM Marketcap is 110b with 3,400 MW whilst SUPER Marketcap is 26.5bn with 1,400MW (excluding SUPER IF)
BGRIM 32.3M baht/MW
SUPER 18.92M baht/MW
Buy the same MW as BGRIM for 60% of the price
Growth rate of getting new MW every year seems high, from 800MW 3 years ago and today 1,400 MW
different duration/cap rates on rev/mw