Kaohoon’s Top News on March 31, 2022

Headline: GULF’s GSRC power project unit 3 achieves COD on March 31

Gulf Energy Development Plc. (SET: GULF) reported on 31 March that its subsidiary has begun commercial operation of unit 3 of the GSRC power project, which has a total installed capacity of 662.5 megawatts. Unit 4 is scheduled to commence commercial operation in October 2022. Analysts upgraded GULF to be their top pick in the power sector, citing the company’s strong earnings outlook for 1Q22, fueled by profit sharing through Intouch Holdings Plc. (SET: INTUCH) and wind farms in Germany, as well as the company’s growing digital infrastructure business.


Headline: JTS to offer debentures of up to THB4,000 million, the fund will be used to invest in bitcoin mining

The Securities and Exchange Commission (SEC) has approved Jasmine Technology Solution Plc. (SET: JTS) to offer debentures of up to THB4,000 million with a three-year term and an interest rate of 6.25 percent per year. Reservations for purchasing will be available on 4-5 and 7 April. The fund will be used to invest in bitcoin mining operations and expenses related to bitcoin mining operation, as well as to repay debts to financial institutions.


Headline: JASIF’s 1Q22 earnings increase by 14%, while its dividend yield roseises to 8.7%

Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) earned THB2,018 million in net investment income in 1Q22, distributing a dividend of THB0.24 per share, yielding up to 8.7 percent. Meanwhile, Digital Telecommunications Infrastructure Fund (SET: DIF) reported net investment income of THB2,933 million in 1Q22 and paid a dividend of THB0.25 per share.


Headline: THAI successfully negotiates a loan of THB25 billion with 5 banks to resume aviation services

Thai Airways International Plc. (SET: THAI) provided an update on the status of its business rehabilitation strategy, stating that the company has successfully negotiated a loan of THB25 billion with five banks to improve liquidity in order to resume aviation services.


Headline: Finance Ministry to postpone tax on stock transactions 

The Ministry of Finance announced that the tax on stock transactions would be indefinitely suspended. Analysts anticipate that this will boost domestic and foreign investment inflows into the Thai stock market, pushing the SET Index above the 1,700 mark. Foreign net buy totaled THB110 billion in the year to date. KBANK, SCB, BBL, DTAC, TRUE, ADVANC, CPALL, and MAKRO are recommended by analysts.


Headline: Analysts recommend “BUY” on CPN with a target price of THB69.00

The share price of Central Pattana Plc. (SET: CPN) gained 5.26 percent yesterday (30 March) following a profit recovery this year. Analysts anticipated that CPN’s earnings will increase by 31 percent this year following the country’s reopening, proposing a “BUY” rating and a target price of THB69.00 per share. CPN has set aside THB20 billion to expand and renovate the shopping malls.