Headline: TU and RBF join Indian Avanti Group to penetrate food ingredients market in India
Thai Union Group (SET: TU) signed a joint venture agreement with R&B Food Supply (SET: RBF) and Srinivasa Cystine Private Limited (SCPL), an associate of India-based Avanti Group, to distribute high quality food ingredients in the Indian market, and over time, will potentially explore the setup of its own manufacturing facility in India. This is a critical milestone in RBF’s push into the global food market. Analysts have a positive view towards this joint venture, recommending “HOLD” on RBF with a target price of THB23.00 per share.
Headline: JMART and BTS to jointly launch JFIN Coin today
Jay Mart (SET: JMART) and BTS Group Holdings (SET: BTS) will jointly launch JFIN Coin today. JFIN Coin is a cryptocurrency that was created to be a utility token for the JMART and BTS product ecosystems, allowing for the payment of goods and services. Adisak Sukumvitaya, CEO of JMART, said that JFIN Coin is a utility token and will not be subject to Bank of Thailand restriction.
Headline: LH anticipates THB33,000 million in revenue from transfer of ownership; Analysts expect profit to grow 18% this year
Land and Houses (SET: LH) anticipates THB33,000 million in revenue from transfer of ownership of real estate projects this year. Currently, the company has a THB6,000 backlog of houses and/or condominiums. LH is urging the government to focus on the country’s overall economy in order to speed up recovery and foster confidence and stability. Analysts recommend “BUY” on LH with a target price of THB10.00 per share, expecting that the profit in 2022 will reach THB7,860 million, up 18% YoY.
Headline: DTAC hands out a dividend payment of THB1.05
Total Access Communication (SET: DTAC) paid a dividend of THB1.05 per share from the company’s operating results for the second half of 2021. As a result, the tender offer price that “Citrin Global” will acquire under the merger agreement with True Corporation (SET: TRUE) has been decreased to THB46.71 from THB47.76. In 2021, DTAC reported a net profit of THB3,356 million, decreasing 34.3% YoY.
Headline: BCPG commits THB6.1 billion to develop a 357MW solar farm in Taiwan
BCPG (SET: BCPG) approved the budget of THB6,096 million for the development of solar power plant projects in Taiwan with installed capacity of 357 MW. The construction commencement of the projects is expected to start from 2022 to 2024 and the commercial operation date is expected from 2022 to 2025. BCPG believes that these projects would have a strong contribution to the company’s core business by enhancing competitiveness and sustaining growth prospects of the company.
Headline: BCP moves forward to issue “BBGI” IPO for public, BCP and KSP shareholders
Bangchak Corporation (SET: BCP) announced the approval of a framework and procedures for determining which shareholders of the company are entitled to subscribe for newly issued ordinary shares of BBGI Public Company Limited (BBGI). The shareholders of BCP will have a 20:1 right to purchase BBGI’s IPO, while the shareholders of Khon Kaen Sugar Industry (SET: KSL) will have a 101:1 right to purchase BBGI’s IPO. The record date for the list of BCP shareholders entitled to pre-emptive rights is scheduled at 14 February 2022, the same date as KSL. Analysts recommend “BUY” on BCP with a target price of THB35.00, expecting that the profit in 2021 would reach THB7.6 billion.
