Kaohoon’s Top News on May 12, 2022

Headline: BANPU 1Q22 earnings jumps over 5 folds on rising global commodity prices

Banpu Plc. (SET: BANPU) reported a net profit of THB10,264 million in 1Q22, an increase of 510% over the year. The improvement was mainly driven by the continued rising global commodity prices, coupled with gain from divestment of Sunseap. Meanwhile, Banpu Power Plc. (SET: BPP) delivered a net profit of THB2,918 million in 1Q22, increasing by 182% year-on-year, due to higher joint venture profit sharing. Analysts recommend “BUY” with a target price of THB18.80. 


Headline: SINGER reports 53% growth in 1Q22 earnings as loan segment expands

Singer Thailand Plc. (SET: SINGER) reported a net profit of THB215 million in 1Q22, increasing by 53.74% from the same period of last year, as a result from the major increase in revenue from sales of goods and interest income from hire-purchase contract and loans and other income. For the year 2022, SINGER expects loans to reach THB15.5 billion following partnerships with JMART, BTS and GUNKUL. 


Headline: JTS 1Q22 earnings expand 135%, while JASIF hands out a dividend at THB0.23

Jasmine Technology Solution Plc. (SET: JTS) reported a net profit of THB96 million in 1Q22, up more than 135% on the back of bitcoin mining business. Meanwhile, Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) recorded a net profit of THB1.6 billion, offering a dividend payout at THB0.23 per share, with the ex-dividend date (XD) set for May 20. Analysts recommend “BUY” with a target price of THB12.60, citing high yield of 8.5%.


Headline: SET is at risk of falling below the 1,600-level after higher-than-expected US April inflation

Analysts expect the SET Index today (May 12) to drift further lower and test 1,600-support level after the US reported higher-than-expected April CPI at 8.3% year-on-year. However, the decline in the market could last only 1-2 days before returning to normalcy. As energy costs stay high, analysts prefer insurance-sector stocks such as BLA and TIPH, while cautioning against power stocks.


Headline: Eye on PTT 1Q22 operating reports 

PTT Plc. (SET: PTT) is anticipated to report a profit of THB30 billion in 1Q22, a decrease of 7% over the year, in line with a slowdown in the performance of its subsidiaries PTTEP, PTTGC, OR, and IRPC. Thai Oil Plc. (SET: TOP), however, produced earnings of more than THB7.1 billion, an increase of 113% year-over-year due to rising selling prices and increased demand tracked the recovery of the economy.