SKY Makes Late Comeback to End the Year Higher with Promising Outlook in 2023

Sky ICT Public Company Limited (SET: SKY) has had a bad performance for the most part of the year as the share price traded lower than the closing price of last year up until the very late of December when the price performance picked up sharply.

SKY was poised to close the year with a -17% on its performance up until December 29 when the price skyrocketed by 27% in two trading sessions to close the year more than 7.5%.

Mr. Sithidej Mayalarp, the Chief Executive Officer Director of SKY, said that the company has joined hands with Airports of Thailand PCL (SET: AOT), in an attempt to digitalized transformation Thai tourism with a launch of “SAWASDEE by AOT” application, stepping up to become Thailand Travel Super App.

The CEO expected SKY’s performance in 4Q22 to continue growing, especially at the end of 2022, which is the peak season for travelling, having inbound and outbound travellers around 150,000 per day, which is an increase from 110,000 passengers in 3Q22. An increase in traffic will result in the company recording higher revenue from app’s usage.

In addition, the announcement for a complete reopening by the Chinese government starting 8 January 2023 will boost traffic at the airport significantly, especially Chinese tourists. Moreover, the company plans to participate in project bidding in both private and public sectors worth billions of baht, which should solidify the company’s performance and growth in the future.