Kaohoon’s Top News on April 11, 2022

Headline: GULF increases its revenue growth forecast for 2022 to 80%

Gulf Energy Development Plc. (SET: GULF) revealed that its total revenue growth forecast for 2022 has been increased to 80% from 60%, owing to the commercial operation of GSRC’s third and fourth units this year, and the 100-megawatt solar rooftop project, as well as revenue recognition for Intouch Holding Plc. (SET: INTUCH) for the entire year. The 2022 annual general meeting of shareholders held on 8 April has approved the the issuances and offerings of THB80 billion in debentures with a maximum tenor of 30 years.


Headline: Digital Economy and Society Minister supports the merger between TRUE and DTAC 

The Minister of Digital Economy and Society claims to support the merger of True Corporation Plc. (SET: TRUE) and Total Access Communication Plc. (SET: DTAC), despite the fact that it will leave only two competitors in the telecommunications market and may result in bid rigging, but it will certainly benefit all consumers. In the case of Advanced Info Service Plc. (SET: ADVANC) requesting clarification of the impact of the business control, it is the NBTC’s responsibility to evaluate. Analysts forecast that the merger will yield profits in excess of THB5,000 million, and have assigned DTAC a “BUY” rating with a target price of THB55.00.


Headline: PJW joins EA to develop an auto battery box business

Panjawattana Plastic Plc. (SET: PJW) and Energy Absolute Plc. (SET: EA) have signed an MOU to collaborate on the development of an auto battery box, battery cooling system, and motor cooling system that will be available for delivery in 2023. The company anticipates earning at least THB100 million in the first year.


Headline: OSP-CBG drop on profit taking following a price freeze on energy drinks amid inflation

Osotspa Plc. (SET: OSP) and Carabao Group Plc. (SET: CBG) both had their share prices fall last Friday trading as a result of profit taking following CBG’s announcement of a freeze in the price of energy drinks at THB10. Analysts, meanwhile, believe that OSP’s new product, M-150 B12, priced at THB12, may not succeed as planned in the face of inflationary pressures, as the pricing cannot truly reflect increased costs even during the high season.


Headline: PTT announces successfully completed debenture issuance worth THB20 billion

PTT Plc. (SET: PTT) announced the successful completion of a THB20 billion debenture issuance. The offering was met with optimism and strong demand from the variety of Institutional and High Net Worth Investors over 110 institutions.   to raise THB200 billion in debentures for capital expenditure. At the company’s annual general meeting on 8 April, shareholders approved a dividend payment of THB80.00 per share for the second half of 2021, to be paid on 29 April. Additionally, the meeting appointed Mr. Chansin Treenuchagron as an independent director, effective 14 May, 2022.


Headline: Thailand to remove RT-PCR tests in May, boosting tourism and hotel stock sentiment

Thailand’s Centre for COVID-19 Situation Administration (CCSA) is considering phasing out the mandatory RT-PCR test upon arrival for inbound visitors from May onwards, with the hope of increasing foreign travel. Analysts believe this move will boost sentiment toward country reopening plays, particularly in the food and tourism sectors (MINT, ERW, M), transportation sectors (AOT, BTS, BEM), and tourist destination sectors (MINT, ERW, M) (CPN, CRC, MAJOR).