Headline: IVL invests THB3 billion to extend the packaging business into Vietnam, bolstering its position in Asia-Pacific market
Indorama Ventures (SET: IVL) invests THB3,000 million to extend its packaging business in Vietnam by acquiring all of the shares of Ngoc Nghia Industry – Service – Trading Joint Stock Company, or NN, a Vietnamese leading PET converter that has a total production capacity of 76,000 tons per annum. The transaction is expected to be completed by the first half of 2022. This proposed acquisition will strengthen IVL’s market position in the packaging business in high growth markets of the Asia-Pacific region. Analysts are optimistic about this deal, raising IVL to the petrochemical Top Pick stock. Recommend “BUY” with a target price of THB60.00.
Headline: MEGA expects double-digit earnings growth in 2021
Mega Lifesciences (SET: MEGA) expects double-digit earnings growth in 4Q21, while continuing to focus on its five-year plan, which includes expanding into new markets and launching new products that will help the company’s profit grow at least twofold. Analysts recommend “BUY” with a target price of THB74.00, forecasting the 4Q21 earnings would be at THB620 million, or an increase of 46.23%.
Headline: The Revenue Department will hold a public hearing on cryptocurrency gain taxation
The Revenue Department will hold a public hearing on cryptocurrency gain taxation after the Prime Minister’s order to clarify the department’s policy on profit taxation. Within this month, clear criteria for calculating withholding taxes on income from cryptocurrency and digital asset trading are expected to be finalized.
Headline: PSG’s share jumps over 18% despite being on the cash balance measure
Despite being on the cash balance measure, PSG Corporation (SET: PSG)’s share price increased by more than 18% yesterday. However, given recent high volatility, the Stock Exchange of Thailand (SET) has advised investors to exercise extreme caution before making any trading decisions on PSG. Additionally, SET is expected to announce the cash balance level 3: prohibition of net settlement on PSG, beginning January 11–31, 2022.
Headline: SENA expects the tender offer for all shares of JSP will strengthen its low-rise property portfolio
Sena Development (SET: SENA) stated that the tender offer for all shares of J.S.P. Property (SET: JSP) would strengthen the company’s capabilities to develop low-rise and condominium properties. Following this transaction, SENA’s low-rise portfolio is likely to increase to 40%, as JSP is currently building 26 projects totaling THB11,000 million.
