Kaohoon’s Top News on February 1, 2022

Headline: GULF to ink the tariff MOU for the 897MW-Pak Beng hydropower project in Lao PDR

Gulf Energy Development (SET: GULF) is on track to sign the Tariff MOU for the 897MW-Pak Beng hydropower project in Lao PDR within the next 1-2 months. Analysts anticipate that this project will create approximately THB1,000 million in annual revenue for GULF and will also add THB1-2 to GULF’s share. Additionally, Yupapin Wangviwat, Director of GULF, stated that the Energy Regulatory Commission has approved the company’s request to raise LNG supplies and imports to 6.37 million tons per year.


Headline: SUPER earns THB5.5 billion from sale of 49% of its shares in Taiwan-based Solar NT

Super Energy Corporation (SET: SUPER) signed a Share Purchase Agreement with conditions precedent in order to dispose of 49% shares of Solar NT to Indonesia’s leading renewable energy developer AC Energy, with an approximate transaction value of THB5,500 million. For this transaction, SUPER has the objective to form a strategic partnership to join forces in a joint investment and development of solar energy power plant businesses in ASEAN countries (excluding Thailand) in the long term. 


Headline: XO set to announce its 2021 operating results; Analysts forecast full-year earnings of THB460 million

Exotic Food (SET: XO) set to announce its 2021 operating results on February 21. The company expects revenue growth of 10-15% and profit growth of 30-40%. In 2022, the company aims at introducing 5-7 new products in order to boost full-year revenue by 10-15%. Additionally, the company has set aside roughly THB200 million for the purchase of new machines and expansion of the pickled chili production line in Phitsanulok.


Headline: Share swap for SCBX is expected in March

SCBX plans conducting a tender offer for the shares of Siam Commercial Bank (SET: SCB) by the end of this month or early in March, and then listing on the Thai stock exchange in April. SCB is expected to deliver THB61 billion in dividends to SCBX by mid-year. SCB approved the payment of dividends from the fiscal year 2021 operational results on Monday at a rate of THB2.63 per share; XD date is February 14.


Headline: KBANK to scale up its high-margin businesses to unlock value

Kasikornbank (SET: KBANK) revealed its strategy to increase the size and scale of its high-margin businesses before unlocking value. On joint venture with JMT Network Services (SET: JMT), KBANK will sell some NPLs and let the joint venture company conduct the collection, while targeting 40-50% loan growth a year for the joint venture with LINE. Analysts raised KBANK’s EPS by 5% and established a target price at THB185.00.