Stocks in the news (chayo, ilink, jck, osp, tfg, tk) 29.10.20
CHAYO: 33.6m new shares from stock dividend tradable tomorrow, October 30.
Comment: And now with a higher equity base, will CHAYO have the 8alls to acquire high amounts of bad debt (should the Banks actually sell them into the market, we’re estimating some THB 500bn of official bad debts across the system by year end)
ILINK: expects to win Bt 377m transmission line projects from authority (PEA) upcoming announcement in November, will signs Bt 144m submarine cable projects from mainland to floating village, Koh Phunyee Phang Na bay before end of year, Bt 1b out of Bt 5.9b backlog to book in 4Q.
Comment: It appears all of those delayed projects from 2-3 years are finally going through.
JCK: report disposal of 50k sq.m factory & warehouse to Swiss medical supply producer to estimate rubber gloves production total Bt 1.45b, transaction to complete 1Q21, issue free warrants (JCK-W6) for existing holders at 2:1, XW November 5.
OSP: signed 3mw PPA with Clean Tech Solar, will install solar rooftop at its 5 production plants, cod next year.
TFG: sees healthy demand for poultry & swine from China & VN due to shrink supply from ASF outbreak, expects wider margins next on costs saving after cod 4 solar floating projects in December.
Comment: TFG can’t control the declining prices of Pork in the market. It’s been a great 2-4Q’s of high pork prices in SE Asia, but they are otw down and probably will be -50% lower in 2 years.
TK: roll out mobile app, TK Plus, for Vietnam and Cambodia hire-purchase clients, offer quick credit application, mobile bill & payment management, aiming to shorten approval cycle, improves debt collection process, will offer to Myanmar clients next year.