Kaohoon’s Top News on February 3, 2022

Headline: BAM’s share price finishes higher yester as investors anticipate a rebound in 2022 earnings

Bangkok Commercial Asset Management (SET: BAM) finished higher yesterday, with a strong trading volume, as investors anticipate a rebound in 2022 earnings. BAM’s stock is now considerably cheaper than its peers. BAM plans to form a joint venture with banks to handle a bad debt portfolio, and its loans are expected to total THB12 billion this year.


Headline: Bank of Thailand to allow banks invest more in fintech

The Siam Commercial Bank (SET: SCB) and Kasikornbank (SET: KBANK) are overjoyed as the Bank of Thailand is planning to allow banks to invest more than 3% of their capital funds in fintech. Analysts forecast SCB and KBANK, which are now the leaders in fintech, to benefit the most from the central bank’s latest action, recommending “BUY” with a target price of THB150.00 for SCB and THB172.00 for KBANK.


Headline: PIMO expects to earn over billion baht in revenue in 2021

Pioneer Motor (SET: PIMO) is expected to release its financial results for the year 2021 on February 24, signaling a revenue of over THB1,000 million. PIMO anticipates revenue to reach THB1,200 million this year thanks to a forward sales order that covers eight months. In addition, the company expects to generate revenue from electric vehicles in 4Q21. PIMO is projected to earn THB110 million in 2021, up 40% YoY.


Headline: CIVIL is edging closer to its target price of THB7.70; Analysts recommend “BUY”

Civil Engineering (SET: CIVIL) is edging closer to its target price of THB7.70 following the company’s Wednesday signing of a construction contract for the motorway M82 section 8 project worth THB1,910 million. Analysts recommend “BUY” on CIVIL as gross profit is expected to expand at a double-digit rate.


Headline: WICE expects 4Q21 earnings to reach a record high

Wice Logistics (SET: WICE) expects 4Q21 earnings to reach a record high of THB173 million, up 190% YoY, while full-year earnings are estimated to be THB528 million, up 162% YoY. Analysts recommend “BUY” on WICE with a target price of THB24.80, citing a bullish outlook for 1Q22 due to continued growth in logistics traffic and dry bulk rates.