Kaohoon’s Top News on February 18, 2022

Headline: GULF’s 2021 earnings expected to hit THB8,000 million, Analysts revise up target price to THB60-62 

Gulf Energy Development (SET: GULF) is set to release its fiscal year 2021 operating results today. Profitability is expected to double to THB8,000 million, up 87.18% from the same period last year. This will be driven primarily by the profit recognition of its IPPs’ GSRC power project and Germany’s BKR2 offshore wind farm project. Major brokerage firms rate GULF as a “BUY,” with a price target of THB60.00-62.00 per share.


Headline: JTS records solid earnings in 2021, but omits the dividend payment to retain the profit for working capital

Jasmine Technology Solution (SET: JTS) recorded a net profit of THB221.04 million in 2021, an increase of 400.4% over the year. JTS, on the other hand, has omitted dividend payments for 2021 in order to keep profit for working capital. JTS plans to increase the number of Bitcoin mining machines to 8,100 in 2022, with a budget of THB3,300 million.


Headline: The six best stocks with high upside potential

Bualuang Securities recommends six stocks that are currently in a bearish trend but saw a spike in earnings in 4Q21 and are expected to maintain their momentum in 1Q22. ECL III LEO PSL RCL and SABUY are among the equities chosen.


Headline: PTT posts strong profit of THB108 billion in 2021 

PTT (SET: PTT) earned a net profit of THB108,363 million in 2021, an increase of more than 186% year-on-year. This was due to increased profits in the petrochemical and refining businesses. Meanwhile, PTT Global Chemical (SET: PTTGC) said that it expects the revenue to continue to expand this year, aided by solid margins in the refinery and petrochemical businesses, with a full-year Allnex profit recognition of more than THB70 billion and VNT. Additionally, PTTGC plans to issue US$1.7 billion in debentures with a duration of 10 to 30 years in March.


Headline: Excise Department to propose the commercial electric vehicle tax package

The Director-General of the Excise Department is prepared to endorse the commercial electric vehicle tax package. Amorn Sapthaweekul, Director of Energy Absolute (SET: EA), stated that the company is poised to manufacture batteries for 100,000 vehicles per year, while the Excise Department plans to increase EV production by 30% by 2030.