Kaohoon’s Top News on April 5, 2022

Headline: TRUE and DTAC shareholders unanimously approve the merger

The Extraordinary General Meeting of Shareholders of Total Access Communication Plc. (SET: DTAC) and True Corporation Plc. (SET: TRUE) on Monday unanimously approved the amalgamation of two companies. The merger of DTAC and TRUE will now be submitted for approval to the National Broadcasting and Telecommunications Commission (NBTC) and the Trade Competition Commission of Thailand (TCCT). The new firm is expected to be registered and begin trading publicly in September.


Headline: PTTGC announces additional debenture issuance plan of not exceeding USD3,000 million

The Annual General Meeting of Shareholders of PTT Global Chemical Plc. (SET: PTTGC) on Monday approved an additional Thai Baht and/or foreign currency debenture issuance plan in the amount of not exceeding USD3,000 million, totaling USD7,000 million over the period of 5 years (2022-2026). Analysts recommend a “Accumulative-Buy” rating on PTTGC with a target price of THB58.00, since revenue recognition from Allnex increased EBITDA by 2-3 percent in 1Q22.


Headline: Car booking at 43rd Bangkok Motor Show rises 13% 

Grand Prix International (SET: GPI) expects higher revenues from the Bangkok International Motor Show 2022, as the event has sold over 95% of exhibit space and welcomed over 1.58 million visitors. Moreover, car bookings at the event rose by 13.6 percent to 33,936 units.


Headline: NER expects sales to reach THB28 billion this year

North East Rubber Plc. (SET: NER) expects sales to reach THB28 billion this year on pre-orders through August, and the expansion of the second factory’s production capacity by another 50,000 tons is expected to be completed in the middle of this year. Plus recognition of THB400 million in revenue from livestock mats.


Headline: Analysts pick BCP, ICHI, IVL, ORI, and SHR as top 5 best stocks to buy in April

The five best stocks to buy in April, according to analysts, are BCP, ICHI, IVL, ORI, and SHR, citing the laggard in share prices. Analysts increased their target price for BCP from THB33.00 to THB40.00 due to the company’s solid profits outlook, while highlighting IVL as an outstanding petrochemical stock with a target price of THB70.00. Meanwhile, ICHI and ORI have target prices of THB13.00 and THB15.00, respectively.


Headline: SCB reveals 90% of its shareholders are ready for share swap

The Siam Commercial Bank Plc. (SET: SCB) revealed that more than 90% of its shareholders are now willing to exchange SCB shares for newly issued SCBX shares. SCBX stock will begin trading on the Stock Exchange of Thailand on April 27.