Headline: GULF joins forces with SCC to operate solar energy business
Gulf Energy Development Plc. (SET: GULF) joined forces with The Siam Cement Plc. (SET: SCC) to establish SG Solar as a joint venture company to engage in the production and sale of solar energy from rooftops to industrial users and SPP power plants. Further, SG Solar plans to expand its customer base to industrial and commercial customers within the network of both company groups.
Headline: PTT acquires 20% stakes in IP to advance healthcare product development
PTT Plc. (SET: PTT) approved the investment in newly issued shares of Interpharma Plc. (SET: IP) via private placement to acquire IP’s stakes at 20% of the total registered and paid-in capital for THB1,000 million. This transaction’s agreements are expected to be signed by June 2022. The collaboration aims for the further development of healthcare products including innovative medicine, Thai herbal medicines, and health food and drink.
Headline: SPALI plans to transfer ownership of 3 new projects worth THB10 billion in 2H22
Supalai Plc. (SET: SPALI) expects a stronger operating result in the second half of the year compared to the first half of the year as a result of the transfer of ownership of three new projects for a total of THB10,500 million and a plan to expand in provincial markets.
Headline: PLUS shares gain 22% on its first trading day
Royal Plus Plc. (SET: PLUS) share price closed 22% higher on its first trading day in the Stock Exchange of Thailand. Phonsaeng Saebe, managing director of PLUS, anticipates the company’s sales to rise by 50% this year as a result of the launch of new products with a strong customer base in over 100 countries across the world.
Headline: Oil refining shares see prices surge after a blast at S. Korea’s petrochemical plant
After an explosion at South Korea’s third-largest refinery on Friday, May 20th, oil refining stocks inched upward as analysts foresaw escalating supply shortage fears. Given the potential that gross refining margin (GRM) will remain above USD15-20 until September, analysts considered this incident as a positive for oil refining stocks, suggesting a “BUY” rating on TOP, BCP, ESSO, and SPRC.
Headline: BANPU Iinvests THB25 billion in the acquisition of U.S.-based XTO Barnett Shale
Banpu Plc. (SET: BANPU) signed a Purchase and Sale Agreement (PSA) with XTO Energy, Inc. and Barnett Gathering LLC (XTO) for THB25 billion to buy natural gas and midstream assets in the Barnett Shale, USA. Upon a successful acquisition, BANPU’s total net gas production is projected to expand to 900 MMcfepd, with the potential to unlock future projects and extensive synergies with the existing operation.