Kaohoon’s Top News on November 8, 2021

The Stock Exchange of Thailand (SET) announces new criteria for stocks to be included in SET indices (SET50 and SET100) by introducing the trading regulation measure “Cash Balance” into liquidity criteria beginning in the first half of next year, while deferring the implementation of Free Float Adjusted Market Cap. Analysts anticipate that DELTA, PSL, and NRF will be excluded from the indices following the application of the Cash Balance measure, but that big-cap stocks with a low free float, such as AOT, INTUCH, GULF, OR, SCGP, ADVANC, PTTEP, and BJC, will be unaffected. Additionally, analysts foresee TIDLOR, BANPU, and KEX would be included in the upcoming SET50 recalculation.

Mr. Adisak Sukumvitaya, Chief Executive Officer of JMART, expects to realize the gain from the BTS Group in late November and from JMT and SINGER in mid-December. As a consequence, JMART is convinced that its performance this year will meet the target. Analysts forecast a net profit of 281 million baht for JMART and earnings growth of 18% for JMT and 39% for SINGER, owing to a joint capital raising with BTS Group.

– IRPC expresses confidence in its fourth-quarter earnings, based on an estimated market GIM of US$15 per barrel and a higher stock gain. Analysts anticipate that IRPC’s share price will remain firmly above 4 baht.

– IVL reported a net profit of 6.5 billion baht in 3Q21, up more than 1,600%, on the back of a record production volume of 3.73 million tons contributing to the global economic recovery. This ramped up 2021’s nine-month earnings to 20 billion baht, a 2,081% increase. IVL forecasts continued strength, expecting the IOD segment to reap full benefits in 4Q.

– ONEE closed its first trading day at 9.20 baht, up from its initial public offering price of 8.50 baht. Mr. Takonkiet Viravan, Chairman of ONEE’s Executive Committee, stated that the company will turn around its fortunes this year after suffering a 1.2 billion baht loss last year and will begin paying dividends in 2022. ONEE will raise capital to repay the 2.2 billion baht debt, lowering the D/E ratio to 0.22x. The company anticipates a rebound in 4Q21, following the government’s lifting of lockdowns to enable on-set production.

– BE8 begins trading on mai for the first time today (November 8), with the expectation of outperforming its IPO price of 10 baht. Mr. Apisek Tewinpagti, CEO, announced new investment plans to expand business in the Vietnamese market, product development, and collaboration with partners, with the goal of becoming one of the leaders in the ASEAN Digital Transformation. BE8 reported a net profit of 60.21 million baht for the nine months ended September 30, an increase of 282.16%.