Stocks in the news (bjc, icn, mega, ndr, pf, ttb) 09.09.21
BJC revamps food courts across BIG C branches to boost traffic, curb costs to boost margins, expand coverage to wholesale market, expects double digits growth HoH on improved SSSG.
Comment: How far away are we from one of the big groups deciding to build their own city in Thailand?
MEGA reaffirms 6-10% revenue growth target this year on solid 1H, boosted by health conscious trend, sees one year delay in Indonesia expansion plan, due to pandemic.
Comment: I’ve seen their operations in Vietnam and Indonesia. Should they not make mistakes – it’ll be a decent decade of growth in both countries.
NDR begins rubber shipment to new Indian client from September under 1 year contract, aims to boost revenue from India to 10% from current 2.5% of total revenue, additional 50k tons capacity to cod 4Q lifts total to 510ktpa from 460ktpa, firms on 440kt FY21 sales volume target, Bt24.5b revenue target this year, will expand downstream rubber products next year to boost margins.
PF cuts FY21 revenue target to Bt13b from Bt21.3b previous guidance, will discount to boost transfer & purge existing inventories, expects revenue bottom out this year.
Comment: Another property firm reduces its targets, this time by – 45%. But everyone let’s look at next year!
TTB is expected to report a big turnaround next year with 41% jump in NP to Bt12b and Bt17b in 2023, on lower costs post-merger and loan growth, while dividend yield may rise to 5.7% in 2023, Tabloid.
Insurers will face penalty on delay disbursement of Covid claims up to Bt500k/case & Bt20k/dday/case if fail to pay within 15 days, Office of Insurance Commission.
Comment: It’ll just become a question of risk return to the insurance companies. I don’t know what the fine will be but if it’s less than the payouts, I wouldn’t be surprised to see more firms delay/fail paying out.