Stocks in Focus on April 12, 2022: ASK and JR

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on April 12, 2022.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Asia Sermkij LEasing Public Company Limited (SETL ASK) with a target price at ฿55.00/share.

MST estimated 1Q22 profit of 356 million baht, up 29% YoY and 3% QoQ, thanks to strong revenue growth. Loans should have grown 26% YoY and 6% QoQ to 59 billion baht as ASK offered 9.1 billion baht of new loans, +28% YoY in 1Q22. New loans reached an all-time high of 3.4 billion baht in March 2022, leading to 42% YoY growth in NII. Non-NII should have risen 32% YoY, led by insurance brokerage income. Cost to income likely fell to 27% in 1Q22 from 38% in 1Q21. Credit cost should have risen to 2.0% in 1Q22 from 0.9% in 1Q21 as ASK set aside 86 million baht extra provisions. NPL ratio likely fell 18bps QoQ to 2.53% in 1Q22.


Finansia Syrus Securities (FSS) has given a “BUY” recommendation on J.R.W. Utility Public Company Limited (SET: JR) with a target price at ฿10.00/share.

FSS stated that JR has bottomed out in 4Q21 and will start growing in 1Q22 and accelerate in 2Q22 moving forward as operations will pick up after easing Covid pandemic. In the short-term outlook, FSS expected to see a collaboration with partners in the E-Bus charging business soon. 

FSS expected JR’s backlog to surpass 10 billion baht from potential acquisition of projects, seeing 2022 net profit to grow 65%.