Headline: RS announces key strategies, aims for THB5.1 billion revenue in 2022
RS (SET: RS) announced key strategies aimed at achieving this year’s revenue target of THB5.1 billion and a net margin of 12-14 percent. RS is now seeking 1-2 partners for an M&A transaction this year with a budget of THB1-2 billion. Also, the company expects to list its subsidiary Chase on the stock market in the first quarter of 2022.
Headline: Nop Narongdej has been accused of corruption by Wind Energy Holdings
Wind Energy Holdings, or WEH, has accused its former chairman Nop Narongdej and four ex-directors with racketeering conspiracy and corruption in connection with the conclusion of a contract agreeing to pay more than EUR2 billion in damages if the company lost any cases in foreign jurisdictions. With this regard, WEH filed a lawsuit seeking more than 330 million baht in damages. Meanwhile, Nusasiri (SET: NUSA) confirmed that it is not responsible for any losses occurring as a result of this lawsuit.
Headline: CRC declines to invest in Selfridges Group following a board resolution
Central Retail Corporation (SET: CRC) declined to invest in Selfridges Group, a leading luxury retail group in Europe, following a resolution passed by its Board of Directors. Analysts expect CRC’s profits to rebound this year given the government’s numerous stimulus measures to boost the country’s reopening. Recommend “BUY” with a target price of THB40.
Headline: JMART to book a profit of more than billion baht in 4Q21
JMART (SET: JMART) expects a fourth-quarter profit of billion baht, mainly due to the restructuring of Singer Thailand (SET: SINGER)’s capital investment.JMT Network Services’ (SET: JMT) earnings are projected to increase by 65 percent this year, while SINGER’s earnings are estimated to rise by 89 percent, resulting in a profit increase of 67 percent to THB2,145 million for JMART this year.
Headline: PTTEP to take over operatorship in the Yadana Project in Myanmar
PTT Exploration and Production (SET: PTTEP) confirmed that only TotalEnergies withdrew from the Yadana Project in Myanmar; however, the company is convinced that PTTEP International will be able to manage the project effectively. Credit Suisse has maintained its “Outperform” rating on PTTEP with a target price at THB135, expecting the operation of Yadana Project to continue with PTTEP taking over operatorship. Meanwhile, the project requires minimal reinvestment capex to sustain operation, which is $1 million under PTTEP’s five-year plan.