Kaohoon’s Top News on May 19, 2022

Headline: SCB expects a discount on the sale of Bitkub shares amid crypto market’s volatility

SCB X Plc. (SET: SCB) took advantage of the crypto market’s volatility to negotiate the purchase price of Bitkub shares at a price lower. According to analysts, this would be beneficial for SCB’s share price and return on investment. In the event of a significant decline in the value of LUNA, SCB sees only marginal effects on company profitability, or between THB7-10 million. This year’s net income is anticipated to exceed THB45.3 billion, an increase of 27% year-over-year.


Headline: SMK files the petition for business reorganization

Syn Mun Kong Insurance Plc. (SET: SMK) filed the petition for business reorganization with the Central Bankruptcy Court on 17 May. The Court has set the hearing date on 15 August 2022. 


Headline: AQUA announces a 200 million-share repurchase program

The Board of Directors of Aqua Corporation Plc. (SET: AQUA) has approved the share repurchase program for financial management purposes where the maximum amount for the share repurchase is THB120 million and the number of shares to be repurchased is up to 200 million shares. The share repurchase period will be from 1 June 2022 to 30 November 2022. 


Headline: FTI’s securities to kick off its first trading day on SET today

Today, shares of Function International Plc. (SET: FTI) will be traded on the SET Index (19 May). FTI is engaged in the water treatment business as an importer, producer, and supplier of goods. The CEO of FTI is confident that the company’s sales will climb by 25 to 30% this year due to an upward trend in the water treatment industry. In the meantime, analysts have assigned a “BUY” rating to FIT’s securities, citing a solid prospect for earnings growth.


Headline: GUNKUL partners with CPF on integrated development of cannabidiol-infused products

Gunkul Engineering Plc. (SET: GUNKUL) and Charoen Pokphand Foods Plc. (SET: CPF), along with Charoen Pokphand Produce Co., Ltd. (CPP) have signed a memorandum of understanding (MoU) for the integrated development of cannabidiol-infused food and beverage products. In addition, GUNKUL and Black Canyon have inked an MoU for the procurement and supply of hemp and cannabis to Black Canyon’s food and beverage businesses both in Thailand and overseas.