Headline: Thai government expects to offer cash subsidies of up to THB150,000 for electric vehicles
The Thai government is close to finalizing incentives and taxes for electric vehicles, which would include cash subsidies of up to THB150,000 per unit. Also, the government sought to make Thailand an EV manufacturing hub in order to attract more foreign investment. The Thailand Stock Exchange (SET) revealed stocks relating to electric vehicles (EVs), including EA, GPSC, NEX, CHO, BPP, BCPG, CWT, FPI, and PACO.
Headline: PTC debut on mai index today, the share price expected to exceed its IPO of THB3.50
Premier Tank Corporation (SET: PTC), a leading operator of petroleum-based oil terminals for loading, storing, blending, and discharging, began trading on the mai index today. Analysts anticipate that PTC’s share price will exceed its IPO price of THB3.50. The company expects to earn approximately THB385 million from the fund raising, which will be used to repay debt and expand operations.
Headline: TOP-OR expected to post solid earnings in 2021
PTT Global Chemical (SET: PTTGC) reported a THB45 billion net profit in 2021, owing to increased sales across all business units. Thai Oil (SET: TOP) and PTT Oil and Retail Business (SET: OR) are anticipated to release their fiscal year 2021 operating results today. Analysts forecast TOP will rebound to a profit of THB12 billion, while OR’s earnings will increase to THB11 billion as oil demand recovers. Meanwhile, PTT (SET: PTT) is predicted to have a net profit of THB100 billion.
Headline: ACE signs PPA with PEA for 8 community power plant projects
Absolute Clean Energy (SET: ACE) signed a power purchase agreement (PPA) with the Provincial Electricity Authority (PEA) on 14 February for eight community power plant pilot projects totaling 50 megawatts. Additionally, by the end of this year, the company aims to acquire phase 2 projects totaling 400 megawatts and municipal waste generating plants.
Headline: Crypto stocks hit ceiling despite market warnings
Despite market warnings, five cryptocurrency stocks have reached the ceiling. Recently, the SET urged brokers to restrain speculative speculation on these stocks, warning that East Coast Furnitech (SET: ECF) and AJ Advance Technology (SET: AJA) face being added to the cash balances measure alongside Jasmine Technology Solution (SET: JTS) and United Power of Asia (SET: UPA).