Kaohoon’s Top News on November 9, 2021

Given the recent uptick in crude oil prices, refinery shares are expected to report combined optimistic earnings in 3Q21. OPEC+ agreed at its November 4 meeting to continue their plan to increase oil production by 400,000 barrels per day starting in December. Analysts forecast TOP‘s earnings to reach 3.2 billion baht, up 353%, and IRPC‘s earnings to reach 2.1 billion baht, up 37%. On the other hand, stocks in the power sector are struggling with a sharp rise in fuel prices.

– SABUY reported a net profit of 56.1 million baht in 3Q21, a 149% increase, primarily due to fully recognized additional revenue from investment in ShipSmile and TBSP. This resulted in a 95% increase to 136.8 million baht in 9M21. Additionally, SABUY announced six new investments worth a combined total of 1,583.5 million baht. Analysts forecast that this investment will boost SABUY’s profit by 200-250 million baht in 2022, or 70-80%, propelling earnings growth by 150-175% in 2022.

Today, Pinthong Industrial Park (PIN) begins trading on the SET index. Analysts anticipate PIN’s share price to rise above its initial public offering price of 3.90 baht, owing to the company’s solid business foundation. PIN earned 99.31 million baht in 6M21 net profit, an increase of 79%.

Passive funds sold DELTA and NRF from their portfolios as these stocks face exclusion from the SET50 and SET100 indexes. Analysts believe TTB, KCE, and TIDLOR are the frontrunners to join the MSCI Index on November 11, while BAM and RATCH are at risk of being excluded. 

– BE8 gained 155% in its first day of trading, closing at 25.50 baht. Mr Apisek Tewinpagti, BE8’s Chief Executive Officer, anticipates a 25% increase in 2021’s profit, with a strategy focused on new investment and acquisitions within a 300 million baht budget. BE8 strives to be the ASEAN region’s leader in digital transformation.

– SCB became Thailand’s leader in digital assets following the acquisition of “Bitkub,” boosting profit to 40.05 billion baht, up 13.7% in 2022. According to analysts, the new business will strengthen SCB’s market value to 1 trillion baht within three years. Bualuang Securities upgraded its recommendation to “BUY”, raising its target price to 146 baht.