Kaohoon’s Top News on March 1, 2022

Headline: IVL sees that robust demand for PET will boost its profit margins in 2022

Indorama Ventures Plc. (SET: IVL) posted record earnings of THB26 billion in 2021, a growth of 988 percent and approved a dividend payment at the rate of THB0.25 per share. For the Project Olympus, IVL expects to earn more than US$650 million in annual recurring EBITDA gains by 2024. Meanwhile, analysts forecast that robust demand for PET will boost IVL’s profit margins in 2022, despite the company’s fourth-quarter earnings falling short of estimates. Recommend “BUY” with a target price of THB60.00.


Headline: CIVIL earnings jump 121% in 2021, while FORTH records net profit of THB722 million

Civil Engineering Plc. (SET: CIVIL) announced a 121 percent rise in net profit to THB192.67 million in 2021 and approved a dividend of THB0.02 per share with an ex-dividend date of 3 May 2022. CIVIL anticipates a 20-30 percent growth in earnings in 2022, with a backlog of THB15,700 million. Meanwhile, Forth Corporation Plc. (SET: FORTH) reported a net profit of THB722.76 million, an increase of 64 percent, and proposed a THB0.30 dividend with an ex-dividend date of 11 March 2022. Super Energy Corporation Plc. (SET: SUPER) achieved a record profit of THB2,733 million in 2021, a rise of 79 percent, and revealed plans to expand investment in all types of renewable energy power plants, with a target of 30-35 percent revenue growth this year.


Headline: TCAP boosts its shareholding in TTB to 23% 

Thanachart Capital Plc. (SET: TCAP) boosted its shareholding in TMBThanachart Bank Plc. (SET: TTB) to 23 percent, equal to ING Group, and is preparing to acquire an additional 1.99 percent, as allowed by the Bank of Thailand. TCAP’s earnings is likely to continue growing this year, with the company projecting to book more than THB5.4 billion. Dividends are paid at a rate of THB1.80 per share.


Headline: RS expects record high revenue this year 

RS Plc. (SET: RS) expects record revenue this year as the business recovers and Ulife generates THB900 million in sales. The company is also preparing to list Chase on the SET in order to strengthen its ecosystem from upstream to downstream. For the fiscal year 2021, RS will pay a dividend of THB0.35 per share. Meanwhile, Aqua Corporation Plc. (SET: AQUA) has authorized the free distribution of W3 at a rate of two existing shares for each warrant.


Headline: BAM achieves a new record high profit in 2 years; Analysts recommend “BUY” 

Analysts recommend Bangkok Commercial Asset Management Plc. (SET: BAM) as a “BUY” with a target price of THB25.00 following the company’s record profit in 4Q21 and earnings predicted to climb 32 percent in 2022. BAM’s executive team expects to establish a joint venture with multiple banks in the first half of the year in order to improve fee income and long-term profit sharing. BAM approved a dividend payment of THB0.55 with an ex-dividend date of 29 April.