According to William Heinecke, Chair of Minor International Public Company Limited, tourist arrivals in Thailand are projected to reach 45 million in 2025, as one of the factors contributing to this increase include heightened interest in Thai hotels prompted by the popular series “The White Lotus,” featuring Thai-born star Lalisa ‘Lisa’ Manoban, a member of the South Korean K-pop group Blackpink.
The number expected by the chairman is much higher than 39 million arrivals projected by the government.
MINT aims to achieve double-digit profit growth by 2025 and intends to reduce its total debt by half next year with an investment trust. Heinecke also noted that the easing cycle of interest rates would benefit the company.
On Tuesday at 11:31 AM (Bangkok time), the share price of Minor International Public Company Limited (SET: MINT) soared by 4.85% or THB 1.25 to THB 27.00, with a trading value of THB 194.65 million.
Krungsri Securities (KSS) noted that MINT’s 3Q24 core profit reached THB 2.6 billion, falling short of the analyst’s projection, but aligning with market forecasts. The profit for the nine-month period of 2024 constitutes 66% of KSS’s annual target.
However, KSS maintains its 2024 full-year profit forecast, with expectations of more robust operations, continuous debt reduction, and decreased interest expenditure in 4Q24 and 2025.
The analyst reiterates a ‘BUY’ rating for MINT, with a target price in 2025 of THB 38 per share.
