Kaohoon’s Top News on January 28, 2022

Headline: PTTEP reports THB39 billion in earnings for 2021 and offers a THB3.00 dividend payment

PTT Exploration and Production (SET: PTTEP) reported a net profit of THB39 billion in 2021, an increase of 68% from 2020, as its average daily sales volume increased to 416,000 barrels and the company recognized gains from the Oman Block 61 Project, as well as a remarkable achievement in Malaysia. An increase in earnings is also driven by continuously rising global crude oil prices. Additionally, PTTEP has approved a dividend payment of THB3.00 per share. The Ex-dividend date (XD) is set for 10 February 2022. The payment will be made on 18 April 2022.


Headline: SCC expects revenue growth of 10% this year, with an expenditure of THB80 billion

The Siam Cement (SET: SCC) expects total revenue growth of 10% this year due to better prospects in all business segments, as well as chemicals selling prices. The company also allocated THB80 billion for investments this year in Thailand and abroad. Meanwhile, the first integrated Petrochemical Complex, the LSP1 project in Vietnam is scheduled to start production by the first half of next year.


Headline: CIVIL to ink a contract for the construction of the Ekkachai-Ban Phaeo motorway on Jan 31 

Civil Engineering (SET: CIVIL) began trading on the Thai stock market for the first time, gaining 14.13% to THB5.25 a share. The CEO anticipates revenue growth of more than 20% this year, as the company expects acquiring new projects worth at least THB5-6 billion. On 31 January 2022, CIVIL is set to sign a THB1,900 million contract for the construction of the Ekkachai-Ban Phaeo motorway.


Headline: JMT is moving with the establishment of an AMC with major commercial banks

The Bank of Thailand will promote the formation of a joint venture between banks and asset management companies (AMCs) to manage bad assets. Analysts believe this will benefit bad asset management stocks, and advise investors to keep an eye on the deal between JMT Network Services (SET: JMT) and Kasikornbank (SET: KBANK) during the first quarter of this year. Maybank Securities (Thailand) forecast JMT’s earnings in 4Q21 to make a new record high, giving a target price at THB80.00.  


Headline: SET Index to rebound today; Analysts recommend KBANK, TTB and HANA

Analysts forecast that the SET Index will rebound today from a recent sharp decline to test a resistance level between 1,640-1,650 points. Recommend investors to invest in stocks with positive 4Q21 earnings outlook, such as PLANB, SPALI and AP, as well as shares in the banking sector, such as KBANK and TTB. HANA and KCE are also recommended, as they are expected to benefit from Thai baht weakness.