Kaohoon’s Top News on April 18, 2022

Headline: Look for rebound in SET after Songkran, with analysts recommending city’s reopening plays

Analysts expect a rebound in SET Index after long Songkran holidays, recommending stocks that are benefiting from rising US bond yields such as insurance, bank, city’s reopening (e.g. airport, hotel, energy, telecom, tourist, retail and healthcare). Meanwhile, Minor International Plc. (SET: MINT) anticipates its profit to rebound this year following the recovery of hotel operations in Thailand and Europe, as well as the restaurant business, which has earned for more than six straight quarters.


Headline: EA’s Somphote confirms that he still has stock in the company

Somphote Ahunai, chairman of Energy Absolute Plc. (SET: EA), affirmed that he still owns 43.48 percent of the company’s shares and assured investors that investments in power plant projects in Nakhon Sawan and Lampang provinces, as well as the BlueTech City Industrial Estate project, are transparent. While Amorn Sapthaweekul, director of EA, stated that the company is still growing and expanding each year, with plans to increase its capacity for manufacturing electric buses.


Headline: Voravan demands clarification from TU over the new director’s appointment

Voravan Tarapoom, head of the ESG Policy and Collective Action Working Group, requested Thai Union Group Plc. (SET: TU) to dismiss the director who had been sanctioned by the Securities and Exchange Commission (SEC) for publicly releasing insider information, warning that this could hinder investor confidence.


Headline: Central Administrative Court denies EASTW temporary protection

The Central Administrative Court reiterated that Eastern Water Resources Development and Management Plc. (SET: EASTW) is not entitled to temporary protection since it is unclear whether it meets the criteria for a respite order. Meanwhile, the Treasury Department is scheduled to meet with Vongsayam Building on 20 April to develop a plan for managing the eastern region’s main water distribution network, which is due to sign a contract in early May.


Headline: King endorse 5 new members of NBTC

His Majesty the King has officially endorsed the new members of the Office of The National Broadcasting and Telecommunications Commission (NBTC), including Sarana Boonbaichaiyapruck as chairman of the board. It takes effect on 13 April.


Headline: JMART and JMT are being monitored for possible inclusion in SET50

Traders overwhelmingly favored JMART Group due to their optimistic outlook for 1Q22 profits. Analysts anticipate that JMT Network Services Plc. (SET: JMT) and Jay Mart Plc. (SET: JMART) will be included in the SET 50’s next recalculation. Analysts rate JMT and JMART as buys, with target prices of THB75.00 and THB103.00, respectively.