Headline: SCB to trade in Thailand’s SET Index today and delist SCBB
SCB X Plc. (SET: SCB) will begin trading on the Thailand Stock Exchange (SET) today (April 27), while The Siam Commercial Bank Public Company Limited (SET: SCBB) will delist on the same day. The SET has set the maximum ceiling price for SCB shares at THB71.00, the latest SCBB closing price.
SCB’s chairman of the executive committee, Arthid Nanthawithaya, announced a strategy for converting revenue from its core banking business into capital to support growth in its subsidiaries, including SCB 10X and Card X.
Headline: GULF signs Tariff MOU for Pak Beng hydroelectric power project in Lao PDR
Gulf Energy Development Plc. (SET: GULF) has signed a Tariff Memorandum of Understanding (Tariff MOU) with the Electricity Generating Authority of Thailand (EGAT) for the 912-megawatt Pak Beng hydroelectric power project at an average tariff rate of 2.7129 Thai Baht per kilowatt-hour. GULF’s executive team stated that the company will earn THB3,000 million per year from the Pakbeng and Paklai power plants upon their commencement of operation.
Headline: CHAYO to close the JV AMC deal with KBANK by 3Q22, beginning with debt management of THB10 billion
Chayo Group Plc. (SET: CHAYO) anticipates completing a deal with Kasikornbank Plc. (SET: KBANK) to form a joint venture asset management company (JV AMC) in 3Q22. CHAYO is expected to earn THB68 million in profit in 1Q22, up 39%, and an additional THB300 million in profit in 2Q22 from the sale of collateral for a large plot of non-performing loans.
Headline: NER anticipates growth in the Indian market, expecting strong 2Q22 earnings
North East Rubber Plc. (SET: NER) is set to sign contracts with two new Indian customers fairly soon after securing three previous orders, while aiming to begin livestock mat production and recognize revenue in 3Q22. Additionally, NER has maintained revenue targets for this year of THB28,000 million, indicating more than 90% production.
Headline: SCC forecast earnings of THB9 billion in 1Q22
Siam Cement Plc. (SET: SCC) is slated to release its financial consolidated statement today (April 27), with analysts anticipating earnings of THB9.1 billion, down 39% from the previous year due to cost increases. Analysts rate SCC a “BUY” with a target price of THB379.00-483.00.
Meanwhile, SCG Packaging Plc. (SET: SCGP) earnings fell 22% to THB1,600 million in 1Q22, on rising raw material prices.
