Headline: GULF joins forces with GUNKUL to jointly develop 1,000MW of renewable energy within 5 years
Gulf Energy Development Plc. (SET: GULF) announced the establishment of a joint venture company with Gunkul Engineering Plc. (SET: GUNKUL) to jointly drive the nation’s investment and development of renewable energy projects with the aim to reach a target of 1,000 MW within 5 years. The joint endeavor is in line with Thailand’s National Energy Plan to achieve carbon neutrality.
Headline: BCP expects strong revenue growth this year after refining margins recover
Bangchak Corporation Plc. (SET: BCP) anticipates massive revenue growth following the recovery of oil sales, which led to an increase in daily refining to 120,000 barrels. In addition, the business plans to invest THB39 billion in capital expenditures to establish 800 to 1,000 gas stations and increase the number of Inthanin coffee shops to 1,000 this year.
Headline: OR sees a strong recovery in oil demand, sets THB200 billion in 10-year capex
PTT Oil and Retail Business Plc (SET: OR) planned to invest THB200 billion over the next ten years to bolster EBITDA to more than THB40 billion by 2030. The company is confident that its performance in the second quarter of 2022 will be remarkable due to the rise in gasoline and diesel prices, as well as the significant recovery of jet fuel demand.
Headline: EGCO anticipates robust earnings in 2Q22 as domestic and international electricity sales recover
Electricity Generating Pcl. (SET: EGCO) maintains a solid earnings projection for the second quarter of 2022 as a result of the full recognition of earnings from Linden Cogen and Apex. In addition, local and international electricity sales have rebounded in tandem with the global economic recovery. This year, the company anticipates that its installed capacity will reach its goal of 1,000 megawatts.
Headline: PTTGC plans to invest USD500 million in capex in 2022, with a focus on bioplastic products
PTT Global Chemical Plc (SET: PTTGC) has committed USD500 million for capital expenditures in 2022, with the majority of funds earmarked for the establishment and development of high-quality recycled plastic and recycled business. Within three years, the plant for producing bioplastic from sugarcane is planned to begin commercial operations. The company is confident that it will achieve profitability principally due to stock gains.
Headline: GFPT, TFG and CPF benefit as Malaysia bans chicken export
Stocks related to poultry exports, led by GFPT, CPF, and TFG, showed consecutive gains after Malaysia announced a restriction on chicken exports beginning June 1. According to analysts, this will enable Thailand to expand export markets for chicken (e.g. Singapore).
Meanwhile, sugar stocks such as BRR, KTIS, and KBS inched upward following a report that India will restrict sugar exports in order to maintain domestic supply. Consequently, the price of sugar increased by 10-20%, surpassing 20 cents a pound.