Headline: TRIS upgrades the company rating of Jmart group to BBB+ on its stronger capital
TRIS Rating upgraded the company rating of Jay Mart Plc. (SET: JMART), JMT Network Services Plc. (SET: JMT) and Singer Thailand Plc. (SET: SINGER) to BBB+ from BBB, highlighting the group’s improved leverage position from stronger capital. Meanwhile, Adisak Sukumvitaya, CEO of JMART, stated that the Jmart group anticipates aggressive synergies to maximize profits by more than 50% annually over the next three years (2022-2024), with a THB30 billion investment budget.
Headline: Office of Transport and Traffic Policy and Planning selects Chumphon and Ranong as preferred sites for the Land Bridge project
The Office of Transport and Traffic Policy and Planning has selected Chumphon and Ranong provinces as preferred locations for the Southern Land Bridge project connecting the Gulf of Thailand and the Andaman coasts. The project’s construction cost is anticipated to be between USD200 and $250 billion. This project is expected to attract foreign investment by offering a 50-year concession and allowing foreign investors to own more than 50% of the project, as well as transferring development rights. This will be proposed to the Transport Ministry next week.
Headline: ACE to issue debentures of THB20 billion
Absolute Clean Energy Plc. (SET: ACE) set to issue and offer additional debentures for THB15 billion, bringing the total to THB20 billion, to be utilized as working capital and investment capital for future projects. Meanwhile, TRIS Rating has revised up the company rating of ACE to BBB+.
Headline: WHA to record extra earnings of THB500 million in 1Q22
WHA Corporation Plc. (SET: WHA) anticipates a profit of approximately THB500 million in 1Q22 from the sale of two data centers, with a plan to invest THB4,000 over the next five years to further expand its digital business and transform into a tech company. WHA announced Friday that it has signed a Memorandum of Understanding (MoU) with Samitivej Hospital to promote and develop digital healthcare.
Headline: SPCG acquires lands totaling 3,000 rai to operate solar farm in EEC
SPCG Plc. (SET: SPCG) purchased 3,111 rai of land to operate as a pilot development plot for the first phase of a 316-megawatt solar farm in the Eastern Economic Corridor (EEC). SPCG anticipates an increase in sales of at least THB4.7 billion this year.
