Kaohoon’s Top News on April 25, 2022

Headline: CPF approves CP Vietnam to go public by listing on Ho Chi Minh Stock Exchange

The Board of Directors of Charoen Pokphand Foods Plc. (SET: CPF) on April 22 approved C.P. Vietnam Corporation (CPV)’s application for listing on the Vietnam’s Ho Chi Minh Stock Exchange. CPV generates approximately THB60,000-70,000 million in revenue annually, accounting for more than 20% of CPF’s total revenue. Capital Nomura Securities is bullish on CPV’s listing in the Vietnam stock market, believing that it will sustain CPF’s growth in the long run, and has recommended a “BUY” rating with a target price of THB26.00.


Headline: KTB sees strong earnings of THB29 billion in 2022, while analysts raise their target price to THB16.10

With Krung Thai Bank Plc. (SET: KTB)’s outstanding 1Q22 earnings results, many analysts and brokers have upgraded their forecasts for KTB’s growth in 2022. They foresee THB29 billion in full-year earnings, up 33% year on year, citing KTB’s high coverage ratio of 174%. The consensus has assigned KTB a “BUY” rating with a target price of THB16.10, based on a P/BV ratio of 0.48x FY22E.


Headline: SCBX to begin trading on SET on April 27, and analysts upgrade their target price to THB155.00

The Siam Commercial Plc. will trade under the ticker symbol SCBB until April 26, after which new stocks will be listed under the ticker symbol SCBX from April 27 onwards. SCBX’s target price has been increased to THB155.00 by analysts in light of the company’s plans to fully access the digital banking business through subsidiaries such as SCB 10x, Token X, and ALPHA X.


Headline: WICE reports a solid first quarter logistics performance, generating more than THB600 million in revenue

Wice Logistics Plc. (SET: WICE) reported that in the first four months of 2022, the company completed over 200 logistics trips between Lao PDR and China, generating revenue of approximately THB500-600 million. Meanwhile, sea shipping benefited from rising dry bulk freight rates and a rebound in exports to the United States. WICE, therefore, anticipates full-year revenue of THB9,000 million, up 20% year on year. 


Headline: Thailand to lift entry restrictions from May 1, analysts expect boost in tourism sentiments

Thailand’s Centre for COVID-19 Situation Administration (CCSA) on April 22 approved the cancellation of the mandatory RT-PCR test upon arrival for inbound travelers, effective May 1. Also, a reduction in insurance coverage to a minimum of US$10,000 was authorized. The Thai Chamber of Commerce anticipates that the government’s recent move will boost positive sentiment toward the tourism industry, while analysts recommend reopening plays such as AOT, BH, MINT, M, AEONTS, MAJOR, CRC, and CPN.